Stocks to watch: Sats, SIA

THE following companies saw new developments that may affect trading of their securities on Wednesday (Aug 16):

Sats : The food solutions and gateway services group has sunk deeper into the red, with a net loss of S$29.9 million for the first quarter ended June 2023, from S$22.5 million a year earlier. The group attributed the wider loss to one-off costs related to the integration of Worldwide Flight Services, an air cargo logistics business it completed acquiring in April. Its shares closed down 1.1 per cent or S$0.03 at S$2.62 on Tuesday, before the announcement.

Singapore Airlines (SIA): The group passenger load factor of SIA and its budget carrier Scoot dipped slightly from 90.6 per cent in June to 89.4 per cent in July. Cargo loads fell 7.1 per cent year on year to 438.9 million tonne-km on lower demand. Its shares closed down 1.1 per cent or S$0.08 to S$7.16 on Tuesday, before the update was released.