Stocks to watch: Singtel, SIA, Seatrium, Mooreast, Sabana Reit

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jun 19): 

Singtel : The telco’s regional data centre business, Nxera, is partnering Malaysian telco TM to develop data centres, starting with one in Johor. Singtel is also part of a consortium, along with US investment firm KKR, which will invest S$1.75 billion in data-centre provider ST Telemedia Global Data Centres. Shares of Singtel closed 1.2 per cent or S$0.03 higher at S$2.58 on Tuesday.

Singapore Airlines (SIA): The group reported a 10.2 per cent year-on-year increase in passenger traffic in May 2024, as demand for air travel remained robust. SIA and Scoot carried a total of 3.2 million passengers over the month, which is 14.3 per cent higher than the year before. Shares of SIA closed 0.5 per cent or S$0.03 higher at S$6.76 on Tuesday, before the announcement. 

Seatrium, Mooreast : A Mooreast unit is acquiring a 1.1 million square foot facility from a Seatrium subsidiary. The proposed S$13.5 million acquisition is expected to commence operations by the end of 2024, subject to approval by JTC. It will quadruple Mooreast’s production capacity to meet expected market demand for floating offshore renewable forms of energy. Shares of Seatrium were down 9.6 per cent or S$0.16 at S$1.51, while shares of Mooreast closed 4.5 per cent or S$0.005 lower at S$0.106 on Tuesday, before the announcement. 

Sabana Industrial Real Estate Investment Trust (Sabana Reit): The Reit has priced S$100 million of sustainability-linked bonds due 2029 at 4.15 per cent. The net proceeds will be used for capital expenditures, such as acquiring new properties and asset enhancement initiatives, as well as refinancing existing term loans, said the manager on Tuesday. Units of Sabana Reit closed 1.4 per cent or S$0.005 lower at S$0.345, before the news.