Stocks to watch: Singtel, ThaiBev, Frencken

THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 23):

Singtel : Its Australian unit Optus has secured four spectrum lots for A$33.5 million (S$29.4 million) in total, in the latest government spectrum auction. On Thursday, Optus said the new spectrum licences will enable it to offer improved 5G services to customers across Australia. Shares of Singtel ended Wednesday up S$0.04 or 1.8 per cent at S$2.29.

Thai Beverage (ThaiBev): The beverage manufacturer’s net profit fell 9 per cent to 27.4 billion baht (S$1.2 billion) for its full year ended Sep 30, from 30.1 billion baht in the previous corresponding period. This was mainly attributed to cost pressures, as well as increased expenditure on brand investment and marketing. Shares of ThaiBev closed flat at S$0.54 on Wednesday, before the release of the results.