Stocks to watch: SIA, CapitaLand Investment, Frasers Property, SingPost

THE following companies saw new developments that may affect trading of their securities on Thursday (May 11):

Singapore Airlines (SIA): The national flag carrier announced that it intends to redeem half of the mandatory convertible bonds (MCBs) it issued in June 2021. The redemption of the MCBs, issued to tide the airline group through Covid-19, is part of an “ongoing recalibration” of SIA’s balance sheet post-pandemic, a company spokesperson said. SIA’s shares closed 0.5 per cent up at S$5.88, and its 2021 MCB price was flat at S$1.025 on Wednesday before the redemption announcement was made.

CapitaLand Investment (CLI): CLI on Thursday posted an 11 per cent rise in revenue from its real estate investment business to S$447 million for Q1 2023, from S$403 million the previous year. Revenue from its fee income-related business, however, fell 3 per cent on the year to S$255 million for the quarter. Shares of CLI ended 1.1 per cent or S$0.04 lower at S$3.78 on Wednesday.