Stocks to watch: SIA, IHH Healthcare, BRC Asia, Jumbo

THE following companies saw new developments that may affect trading of their securities on Wednesday (Nov 30):

Singapore Airlines (SIA): The national carrier and Tata Sons, the parent company of Indian conglomerate Tata Group, have agreed to merge airlines Air India and Vistara. As part of the transaction, SIA will also invest 20.6 billion rupees (S$360 million) in Air India, giving SIA a 25.1 per cent stake in an enlarged Air India group. Shares of SIA closed at S$5.47 on Tuesday, up 0.2 per cent or S$0.01, before the announcement.

IHH Healthcare : The Malaysian hospital group on Tuesday reported a 54 per cent drop in net profit for the third quarter ended Sep 30 to RM251.8 million (S$76.9 million) from RM550 million in the same period last year. This was due to the absence of exceptional items recognised in Q3 2021, foreign exchange losses, and the effect of restating financial statements according to a reporting standards framework in hyperinflationary Turkey. The counter closed 2.2 per cent or S$0.04 lower at S$1.81 on Tuesday, before the results announcement.