Stocks to watch: SIA, Sabana Reit, Yoma Strategic, Cordlife

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jun 12):

Singapore Airlines (SIA): The national flag carrier is offering all passengers who were injured during last month’s turbulence-hit SQ321 flight individual compensation starting from US$10,000. The airline confirmed it sent out its offers of compensation to injured passengers on Jun 10. Shares of the company closed 0.4 per cent or S$0.03 lower at S$6.76 on Tuesday. 

Sabana Industrial Real Estate Investment Trust (Sabana Reit): The tenant of the Reit at 30 and 32 Tuas Avenue 8 has been placed under provisional liquidation. The tenant, biotechnology company GDMC, accounted for about 2.4 per cent of the Reit’s total gross rental income for the financial year ended Dec 31, 2023. Units of Sabana Reit closed flat at S$0.35 on Tuesday, before the announcement.

Yoma Strategic : Responding to Singapore Exchange Regulation’s queries on the unusual trading activity of its shares, the Myanmar-focused conglomerate on Tuesday said it was unaware of any reasons for such trading. This was except for the May 29 release of its FY2024 results along with subsequent reports and media articles, including a Jun 3 Phillip Capital report that projected the group to report further earnings growth in FY2025. Shares of mainboard-listed Yoma ended S$0.026, or 31 per cent higher at S$0.11, before the company issued its response.

Cordlife : The private cord-blood bank reported a net loss of S$11.6 million for the first quarter ended Mar 31, reversing a net profit of S$1.2 million in the corresponding quarter the year before. The reversal in revenue was attributed to the financial impact of Cordlife handing out refunds to its customers whose stored cord-blood samples were compromised. Shares of Cordlife closed on Tuesday at S$0.14, down S$0.007 or 4.8 per cent, before the announcement.