Stocks to watch: Singtel, Nio, 17Live, mm2 Asia

THE following companies saw new developments that may affect trading of their securities on Wednesday (Mar 6): Singtel : The telco’s Australian unit Optus was fined A$1.5 million (S$1.3 million) by the Australian Communications and Media Authority on Wednesday over large-scale breaches of public safety rules. The government agency’s investigation found that Optus failed to upload the information of close to 200,000 customers to a database used by emergency services, between January 2021 and September 2023. Singtel’s shares closed 0.9 per cent or S$0.02 lower at S$2.31 on Tuesday.

Nio : The China-based electric vehicle maker reported a narrower loss to 5.6 billion yuan (S$1.1 billion) for the fourth quarter of FY2023 on higher vehicle sales margin. This was due to lower material cost per unit, as well as the absence of inventory provisions and losses on purchase commitments that were recorded in Q4 FY2022, said the company on Tuesday. The counter closed 4.2 per cent or US$0.24 lower at US$5.44, before the announcement.

17Live , mm2 Asia : Livestreaming platform 17Live and entertainment company mm2 Asia are planning for joint entertainment offerings across South-east Asia after signing a memorandum of understanding on entertainment marketing and production-related activities. These include the marketing of movies, collaborations between livestreamers and mm2 movie projects, as well as the production of long-form animation content. Prior to the announcement on Tuesday, 17Live shares closed 2.4 per cent or S$0.03 lower at S$1.20, while mm2 shares ended unchanged at S$0.02.