Stocks to watch: SIA, Samudera, Top Glove, Amara
Daphne Yow
THE following companies saw new developments that may affect trading of their securities on Monday (Jun 19).
Singapore Airlines (SIA): Responding to queries from Reuters on Friday, SIA refuted claims that it might raise its stake in Air India from 25.1 per cent to about 40 per cent to create a larger full-service India national carrier. The index counter closed 1.8 per cent down or S$0.14 at S$7.77 on Friday, ending its 12-day winning streak.
Samudera Shipping Line : The company has agreed to purchase two container vessels with a capacity of 1,500 twenty-foot equivalent units each for a total of US$59.9 million. The purchase is not expected to have any material impact on the net tangible assets and earnings per share of the group for the financial year ending Dec 31, 2023. Samudera shares closed at S$0.915 on Friday, down 2.1 per cent or S$0.02, before the news.
Top Glove : The glove manufacturer posted a net loss of RM130.6 million (S$37.8 million) for the third fiscal quarter ended May 31, reversing from its earnings of RM15.3 million for the previous corresponding period. Shares of Top Glove on the Singapore Exchange closed on Friday 9.5 per cent or S$0.03 down at S$0.285, after the results were released.
Amara : Two major shareholders cum executive directors of the property developer and hotel group are engaged in confidential discussions with a third party about a possible transaction involving the company, the group announced on Sunday. Amara shares last traded up 12.8 per cent or S$0.05 at S$0.44 on Friday when the company requested a trading halt. The counter resumes trading on Monday.
