Stocks to watch: SIA, EGP Energy, Q&M Dental

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Sep 16):

Singapore Airlines (SIA) : The national carrier on Tuesday said its passenger traffic for August was up 1.5 per cent year on year at 13.8 million revenue passenger-kilometre on “healthy demand”. Its passenger capacity rose 3.5 per cent to 16 million available seat kilometres, and the number of passengers carried was up 3.6 per cent at 3.7 million across the same time frame. Growth in both passenger traffic and capacity was mainly in East Asia, Europe and the South-west Pacific. The counter closed 0.3 per cent or S$0.02 lower at S$6.61 prior to the update.

EGP Energy : An indirect wholly owned subsidiary of EGP Energy has entered into a joint venture agreement with a wholly owned subsidiary of Malaysia-listed UUE for an initial paid-up capital of RM1 million (US$245,314). This is EGP Energy’s first overseas market entry since its listing on Jul 29. The joint venture company will be incorporated in Malaysia; EGP Infrastructure Investments will hold a 60 per cent equity stake in it, and Kum Fatt Engineering will hold the remaining 40 per cent. Shares of EGP Energy closed 2.7 per cent or S$0.02 lower at S$0.715 on Tuesday before the news.

Q&M Dental : The company on Tuesday said it received in-principle approval from the Singapore Exchange for the listing of 16.4 million new consideration shares. The issue price of S$0.70 a share represents a premium of 25.7 per cent over the volume-weighted average price of the shares of S$0.557 on Jul 9. That was the last day of trading before it announced plans to buy 51 per cent of Deezy Q&M Dental Group through a holding structure. Shares of Q&M Dental were flat at S$0.52 before the news.