Stocks to watch: Singapore Airlines, Silverlake Axis

THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 16):

Singapore Airlines (SIA): The national carrier on Wednesday posted a 24.5 per cent year-on-year increase in passenger traffic in October, amid robust passenger traffic across all its route regions. Earlier on the same day, it announced a code-share partnership with Philippine Airlines to increase flight options between the Philippines and Singapore, as well as to other international destinations. SIA shares closed at S$6.20, up S$0.09 or 1.5 per cent, before its operating results were released.

Silverlake Axis : The enterprise technology company’s earnings fell 15 per cent to RM48.9 million (S$14.1 million) for the first quarter of FY2024. On Wednesday, the group said that this was largely due to flattish revenue and higher operating costs compared to the same period a year prior. Shares of Silverlake closed at S$0.285, up S$0.01 or 3.6 per cent, before the news.