Stocks to watch: Singapore Airlines, CSE Global, ST Engineering, Raffles Education
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Dec 16):
Singapore Airlines (SIA) : The national carrier recorded passenger traffic of 13.3 billion in November for the two airlines it operates, 2.6 per cent up from the year-ago period. This was slightly higher than the 2.2 per cent growth in passenger capacity reported by SIA and budget arm Scoot, the group said on Monday. The counter declined 0.2 per cent or S$0.01 to close at S$6.32 on the same day, before the announcement.
CSE Global : The global electrification and automation solutions provider clinched three major contracts worth US$124.6 million in the US. The contracts are for the design and manufacture of power distribution centres, plus the integration of complex electrical and control systems, as well as equipment for the liquefied natural gas market, the group said on Monday. The contracts are scheduled to run between 2026 and 2028. Shares of CSE Global closed at S$0.905, down S$0.02 or 2.2 per cent, before the news.
ST Engineering : Its mobility services business is among the companies that have been awarded contracts by the Land Transport Authority (LTA) for 660 new electric buses that will replace diesel buses nearing the end of their statutory lifespan. ST Engineering Mobility Services, in partnership with Chinese state-owned manufacturer CRRC, clinched contracts worth S$35.7 million for 100 single-deck buses and S$79 million for 150 double-deck buses, LTA said on Monday. The counter finished Monday 1 per cent or S$0.08 lower at S$8.26, before the news.
Raffles Education : The education company’s stock was the most actively traded on the Singapore Exchange on Monday. The counter surged as much as 24.3 per cent to a peak of S$0.133. The company completed the fourth tranche of a S$1 million bond issuance last Thursday, as part of a wider capital-raising exercise first announced in June. Its shares ended Monday 23.4 per cent or S$0.025 up at S$0.132 after about 60.8 million securities were transacted.
