Stocks to watch: Sats, Keppel, Sembcorp, Food Empire
THE following companies saw new developments that may affect trading of their securities on Wednesday (Aug 21):
Sats : The in-flight caterer and ground handler posted a net profit of S$65 million for the first quarter ended Jun 30, 2024, from a loss of S$29.9 million for the same period a year earlier. Revenue grew 15.5 per cent to S$1.4 billion from S$1.2 billion. Shares of the company rose 3.5 per cent or S$0.11 to close at S$3.22 on Tuesday, before the update.
Keppel : The asset manager inked a memorandum of understanding with the Asian Development Bank and Enterprise Singapore to explore US$800 million in energy-transition and environmental-sustainability opportunities in the Asia-Pacific region. The counter closed S$0.11 or 1.8 per cent higher at S$6.11 on Tuesday.
Sembcorp Industries : Its wholly owned subsidiary, Sembcorp Green Hydrogen, and two other listed Japanese corporates have signed an in-principle agreement with Nippon Yusen Kabushiki Kaisha for the export of green ammonia from India to Japan. Sembcorp said on Wednesday it does not expect the signing to have a material impact on earnings per share and net tangible assets per share for the fiscal year ending Dec 31. Sembcorp shares ended 0.9 per cent or S$0.04 higher at S$4.76 on Tuesday.
Food Empire : The F&B manufacturing and distribution company will receive a capital injection of US$40 million through a strategic partnership with private equity fund manager Ikhlas Capital. Shares of the mainboard-listed company closed at S$0.97, up S$0.01 or 1 per cent on Tuesday, before the announcement.
