Stocks to watch: SIA, CDLHT, Straits Trading, Civmec, Food Innovators

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

Singapore Airlines (SIA): SIA Group’s passenger capacity for September rose 9.7 per cent, outpacing the month’s 7.7 per cent passenger traffic growth. The national carrier and its low-cost arm Scoot flew 3.1 million passengers in September, up 7.9 per cent year on year, according to the group’s latest operating update on Tuesday. SIA shares closed 0.3 per cent or S$0.02 lower at S$6.39, before the update.

CDL Hospitality Trusts (CDLHT): The stapled group is acquiring an upscale lifestyle boutique hotel in Exeter, England, and two retail units in the hotel for about £19.4 million (S$33.2 million). The acquisition will be completed once relevant conditions are met and will be fully funded through debt, said the managers on Tuesday. Post-acquisition, CDLHT’s pro forma gearing as at Jun 30 will rise from 37.7 per cent to 38.4 per cent. The acquisition is predicted to be accretive on stabilisation. Stapled securities of CDLHT closed 0.5 per cent or S$0.005 higher at S$0.98, before the announcement.