Stocks to watch: Singapore Airlines, Sembcorp Industries, Seatrium, Venture Corp

THE following companies saw new developments that may affect trading of their securities on Monday (Nov 11):

Singapore Airlines (SIA) : The national carrier on Friday posted a 59 per cent fall in net profit to S$290 million for the second quarter ended Sep 30, compared to the corresponding period in the previous year. Revenue for the period rose 2 per cent to S$4.8 billion. Lower profit was mainly due to weaker operating performance, lower net interest income and loss on disposal of aircraft, spares, and spare engines versus a gain last year. Its counter ended on Friday at S$6.45, down S$0.04 or 0.6 per cent, before the announcement.

Sembcorp Industries : The energy and urban development company said on Friday that it intends to sell its wholly owned unit Sembcorp Environment to Indonesian energy company SBT Investment 2 for S$405 million. The group attributed its proposed disposal to its intention to focus on growth in the energy sector. Sembcorp Industries’ shares ended Friday unchanged at S$5.01, before the announcement.

Seatrium : The offshore and marine specialist on Monday said that its net order book for the nine-month period ended September swelled to S$24.4 billion, with deliveries stretching to 2031. The company also noted in a separate announcement that it has signed a letter of intent with a Japanese construction company for a heavy lift vessel project, which is expected to be awarded in the first quarter of 2025. Shares of Seatrium closed 2 per cent or S$0.04 higher at S$2 on Friday.

Venture Corp : It posted a 4.7 per cent fall in net profit to S$60.6 million for the third quarter of 2024 from the previous quarter. Revenue was down 3.9 per cent quarter on quarter at S$689.7 million. This was largely due to softer demand in the life sciences, lifestyle consumer, and test and measurement instrumentation technology domains, it said on Friday. Shares of Venture Corp closed at S$13.65 on Friday, up 0.2 per cent or S$0.02, before the announcement.

Sri Trang Agro-Industry : The rubber group posted a net profit of 517.3 million baht (S$20 million) for its third quarter ended Sep 30, reversing its net loss of 410.2 million baht in the corresponding year-ago period. The higher profit was driven by the larger sales volume and average selling prices of natural rubber, said the group on Friday. Shares of the mainboard-listed company closed at S$0.82 on Friday, up 5.8 per cent or S$0.045, before the announcement.

Sri Trang Gloves : The glove manufacturer sank into the red with a net loss of 86.5 million baht for the three months ended Sep 30, reversing from a profit of 47.4 million baht a year ago. Its sales revenue rose 35.9 per cent to 6.4 billion baht, and its net profit for the first nine months of the fiscal year more than doubled to 438.6 million baht, it said on Friday. Shares of Sri Trang Gloves remained flat at S$0.50 on Friday, before the announcement.

SBS Transit : The bus and train operator’s net profit rose 1.7 per cent on year to S$18.2 million for the third quarter of FY2024 ended September. The group said on Friday that while its operating profit was lower, a smaller tax expense helped to cushion the hit. Revenue also rose 2.1 per cent to S$396.1 million for the quarter, on higher average fare and ridership for rail. SBS Transit shares closed flat at S$2.47 on Friday, before the update.

UMS Integration : The semiconductor manufacturer on Friday posted a 32 per cent fall in profit to S$10.4 million for the three months ended Sep 30, from the same period a year prior, due to higher expenses and depreciation. Revenue for the period slid 9 per cent on year to S$64.9 million on lower semiconductor sales from weaker global chip demand, as well as a decline in revenue from the “others” segment. On a quarter-on-quarter basis, however, revenue rose 16.1 per cent to S$56 million. Shares of UMS Integration finished up 2 per cent or S$0.02 at S$1.04, before the results release.

Trading halt: Aspen Group requested a trading halt on Monday morning. The counter closed on Friday at S$0.044.