Stocks to watch: SIA, Keppel DC Reit, Aztech Global, Tuan Sing, Aspen

THE following companies saw new developments that may affect trading of their securities on Tuesday (Oct 17):

Singapore Airlines (SIA): The national carrier posted a 24.8 per cent year-on-year increase in passenger traffic in September 2023, as demand for air travel remained robust. Its cargo operations also grew over the month, with cargo loads rising 6.1 per cent on the year to exceed its capacity expansion of 4.6 per cent. Shares of SIA fell 1.7 per cent or S$0.11 to close at S$6.33 on Monday, before the group released its operating results for September.

Keppel DC Reit : Its distribution per unit for the third quarter fell 3.6 per cent year on year to S$0.02492 due to higher finance costs and less favourable foreign exchange hedges, reported the manager on Monday. Portfolio occupancy slipped to 98.3 per cent as at Sep 30, 2023, down from 98.5 per cent three months earlier. Units of Keppel DC Reit closed at S$2.01, down 1 per cent or S$0.02, before the business update.

Aztech Global : The technology solutions provider reported a 15.9 per cent year-on-year increase in net profit to S$73.8 million for its first nine months ended Sep 30, 2023. This was largely due to revenue growth, greater economies of scale, higher interest income and net fair value gain on foreign exchange contracts, said Aztech in its business update on Monday. Prior to the announcement, the counter closed S$0.01 or 1.2 per cent lower at S$0.855.

Tuan Sing : The property developer is inviting holders of its 6.9 per cent Series 004 notes due 2024 to sell their notes at 102 per cent of the principal amount in cash. On Tuesday, Tuan Sing said it also intends to issue new Singapore dollar-denominated fixed rate notes, and that it will give priority to existing noteholders who wish to take part in both the invitation and the new notes. Shares of Tuan Sing ended Monday flat at S$0.285.

Aspen (Group) : The Malaysian property developer on Monday said its subsidiaries issued a letter of demand to contractor Tialoc Malaysia to withdraw its RM78.1 million (S$22.7 million) claim and lawsuit. The group also called Tialoc’s allegations of fraudulent trading “wholly unjustified and improper”. Shares of mainboard-listed Aspen last traded at S$0.023 on Oct 6.