Stocks to watch: Singtel, SIA Engineering, UMS, Samudera Shipping, Lum Chang Creations

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jun 8):

Singtel : The telco announced on Friday that it will partner Digital Industry Singapore (DISG) to strengthen its capabilities in artificial intelligence-enabled operations. The initiative also covers talent development and employment, as well as governance and technology frameworks. Singtel is the first company to be funded through this new multi-year AI initiative by DISG. Shares of Singtel ended at S$4.29 on Friday, 0.7 per cent or S$0.03 lower, before the news.

SIA Engineering (SIAEC) : The company announced on Saturday that it partnered French aerospace giant Safran Aircraft Engines in a US$118 million joint venture (JV) to set up a full-fledged aircraft engine shop in Singapore. This will provide maintenance, repair and overhaul services for CFM Leading Edge Aviation Propulsion engines. Shares of SIA Engineering ended flat at S$3.18 on Friday.

UMS Integration : The high-precision semiconductor company on Friday announced that it inked a non-binding memorandum of understanding to invest about US$3.6 million for a 51.6 per cent stake in a JV company in Vietnam. The proposed JV will consolidate three Vietnam-based precision engineering and metal plating companies. Shares of UMS fell 3.1 per cent or S$0.08 on Friday to close at S$2.53, before the news.

Samudera Shipping : A container vessel chartered by the company on its Singapore-Pasir Gudang service has sunk en route. On Sunday, the group said the vessel, Golden Star 1, sank at about 11 pm on Friday. All crew members were safely evacuated, with no casualties. Shares of Samudera ended at S$0.955 on Friday, 0.5 per cent or S$0.005 lower.

Lum Chang Creations (LCC) : The Catalist-listed company on Monday said that it is “currently still monitoring and evaluating the market conditions” for its proposed placement as it prepares for a transfer to the mainboard. The placement was intended to help LCC meet the mainboard’s minimum shareholding spread and distribution requirements. Due to the current uncertain timeline, LCC stated that it will hold off on applying to the Singapore Exchange for the listing and quotation of the bonus shares. Shares of LCC fell 2.3 per cent or S$0.02 to close at S$0.84 on Friday, while those of parent Lum Chang Holdings were flat at S$0.53.