Stocks to watch: Sats, OCBC, IHH Healthcare, Straco, iFast
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THE following companies saw new developments that may affect trading of their securities on Thursday (May 30):
Sats : The in-flight caterer and ground handler on Wednesday reported earnings of S$64.1 million for the second half ended Mar 31, 2024, more than 10 times the S$6 million booked in the previous corresponding period. This comes amid a strong post-pandemic recovery by the aviation sector, as well as contributions from the group’s recently acquired air-cargo handling company Worldwide Flight Services. Shares of Sats closed S$0.01 or 0.4 per cent lower at S$2.63, before the announcement.
OCBC : The bank aims to invest HK$1.5 billion (S$259.1 million) into its technology and facilities in Greater China over the next three years, which includes modernising its technology platforms, channels and products. It is looking to positive spillovers from China’s improving economic conditions to drive growth in Asia. Shares of OCBC closed 0.8 per cent or S$0.11 lower at S$14.39, before the announcement on Wednesday.
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