Stocks to watch: SIA, Boustead, Ban Leong

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jun 13).

Singapore Airlines (SIA) : An Air India plane bound for London crashed moments after taking off from the city of Ahmedabad on Thursday and more than 240 casualties have been reported, authorities said. The Boeing 787-8 Dreamliner, with 242 people on board, which was headed for Gatwick Airport, south of the British capital, had only one survivor after it crashed into a medical college hostel during lunch hour. SIA has a 25.1 per cent stake in Air India following a merger of Vistara – its full-service airline joint venture with Tata Sons – with India’s national carrier. Shares of SIA closed 0.4 per cent or S$0.03 lower at S$7.03 on Thursday.

Boustead : The company announced that it is conducting strategic reviews for the sale of its stake in some of its logistics and industrial real estate assets to a real estate investment trust (Reit), to be listed on the mainboard of the Singapore Exchange (SGX). The engineering and technology group said on Thursday that the review is part of its “ordinary course of business to periodically consider options and opportunities” in relation to its investments to unlock shareholder value. The counter closed 0.8 per cent or S$0.01 higher at S$1.25 on Thursday, before the announcement.