Stocks to watch: Singtel, SBS Transit, Raffles Education, Creative Technology
Michelle Zhu
THE following companies saw new developments that may affect trading of their securities on Monday (Aug 21):
Singtel : The telecommunications operator on Monday posted a net profit of S$483 million for the first quarter ended Jun 30, down 23.1 per cent from S$628 million in Q1 FY2022, as it registered an exceptional net loss mainly from Airtel. Operating revenue also dropped 2.7 per cent to S$3.5 billion from S$3.6 billion on depreciation in the Australian dollar. Singtel closed down 0.9 per cent, or S$0.02, at S$2.34 on Friday.
SBS Transit : The public transport operator was awarded the Bukit Merah Bus Package for a second consecutive term, marking its third bus tender award won under the new bus contracting model. With the latest contract win, SBS Transit remains the biggest public bus operator holding a 55 per cent market share. The counter closed down 1.2 per cent or S$0.03 at S$2.57 on Friday, before the news.
Raffles Education : NPS International School is seeking a S$500,000 deposit refund from its wholly-owned subsidiary Raffles Assets over NPS’ proposed leasing of Raffles Assets’ property at 51 Merchant Road, announced the group on Sunday. Separately on the same day, it said the EduTrust Certification of another subsidiary, Raffles College of Higher Education, will be suspended until Feb 17, 2024, for breaching requirements under the Fee Protection Scheme. Raffles Education closed flat at S$0.061 on Friday.
Creative Technology : Cost cuts helped narrow the electronics maker’s losses to US$6.1 million for the second half ended June, though macroeconomic challenges cast a pall on its full-year showing. On Friday, Creative said it is “cautiously optimistic” for FY2024, with new products providing potential revenue growth opportunities. Prior to the results, its shares ended down S$0.06 or 4.9 per cent at S$1.17.
