Stocks to watch: SIA, SIA Engineering, Aztech Global, Challenger, Hafary
Bernadette Toh
THE following companies saw new developments that may affect trading of their securities on Monday (Feb 20):
Singapore Airlines (SIA): The national airline’s subsidiary Scoot announced on Friday it will add nine new Embraer E190-E2 aircraft to its fleet to support its network growth strategy. It had signed a letter of intent with aircraft lessor Azorra to add the Brazilian aircraft, with the first jet scheduled for delivery in 2024 and the rest to be progressively introduced by end-2025, Scoot said. SIA shares fell 0.2 per cent or S$0.01 on Friday to close at S$5.84, before the announcement.
SIA Engineering Company (SIAEC): The group reported a 64.1 per cent year-on-year fall in net profit to S$12.8 million for its third quarter ended Dec 31, 2022, from S$33.2 million. The lower net profit came amid higher group expenditure, as this was the first quarter since the pandemic with no wage support, said SIAEC on Friday. SIAEC shares fell 1.2 per cent or S$0.03 to close at S$2.43, before the business update.
Aztech Global : The tech solutions provider reported a 45.9 per cent fall in net profit to S$24.3 million for the second half of the year ended Dec 31, 2022, from S$45 million a year earlier. This was despite higher revenue. The decline in net profit was attributed to foreign exchange losses amounting to S$56.6 million, with several foreign currency contracts maturing in FY2022. Shares of Aztech Global closed at S$0.835 on Friday, up 0.6 per cent or S$0.005, before the earnings release.
Challenger Technologies : The group reported a 40 per cent year-on-year decline in net profit to S$5.1 million for the six months ended Dec 31, 2022, from S$8.4 million, despite higher revenue. This was largely due to fair value loss on investment, reduced Covid-related government wage supports and higher operating expenses incurred, said Challenger. The counter closed unchanged at S$0.52 on Friday, before the earnings announcement.
Hafary : The tile specialist posted a profit net of tax of S$19.8 million for the second half of the financial year ended Dec 31, 2022, up 187.1 per year on year from S$6.9 million. This came on the back of revenue growth in both its general and project segments. Shares of Hafary closed at S$0.225 on Friday, up 2.3 per cent or S$0.005, before the news.
Trading halt: AsiaPhos requested a trading halt on Monday morning, pending the release of an announcement. Shares of AsiaPhos closed at S$0.015, down 6.3 per cent or S$0.001 on Friday.
