Stocks to watch: Singtel, Wee Hur

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Oct 21):

Singtel : The Infocomm Media Development Authority (IMDA) has imposed a penalty of S$1 million on the telecommunications provider over a series of mobile service disruptions in March that affected around 720,000 consumer and business subscribers. In a statement on Tuesday, IMDA said that its investigations found the outages on Mar 16, 18 and 19 were preventable and within the telco’s control. Shares of Singtel closed S$0.05 or 1.2 per cent higher at S$4.23 before the announcement.

Wee Hur : The mainboard-listed company has secured an unconditional option to acquire a site in Sydney, Australia, for a proposed 471-bed student accommodation development, the company said on Tuesday. The proposed acquisition, for an undisclosed sum, is expected to be completed in the second half of 2027, subject to the exercise of the option and completion of the transaction. Wee Hur closed at S$0.595 on Tuesday, up S$0.01 or 1.7 per cent.