Stocks to watch: Thai Beverage, Frasers Property, OCBC, UMS, Singapore Airlines

THE following companies saw new developments that may affect trading of their securities on Thursday (Jul 18):

Thai Beverage Public Company (ThaiBev), Frasers Property : The beverage manufacturer is proposing a share swap which will result in the transfer of all of its 28.78 per cent shareholding in Frasers Property for a 41.3 per cent stake in Fraser and Neave (F&N), at an estimated ratio of 1.88 Frasers Property shares for each F&N share. The move will turn ThaiBev into a pure-play food and beverage company, and raise its holdings in F&N to 69.61 per cent. ThaiBev’s counter closed 2.1 per cent or S$0.01 higher at S$0.495 on Wednesday, while Frasers Property finished flat at S$0.80.

OCBC : The lender expects to recover all overdue loans from money launderer Su Baolin after it sold a vacant plot of land in Sentosa belonging to him for over S$20 million via a private treaty. According to earlier reports by The Business Times, Su owed OCBC more than S$20 million in mortgage, credit card debt and interest. Shares of OCBC ended 0.5 per cent or S$0.08 higher at S$15.22 on Wednesday.

UMS : The semiconductor group said on Wednesday that it is seeking a secondary listing on Bursa Malaysia’s main market. The move will allow UMS to broaden its investor reach, and improve the liquidity of its shares through separate trading platforms. It will also be able to tap additional platforms and different equity markets for future fundraising. Shares of UMS closed flat at S$1.19, before the announcement.

Singapore Airlines (SIA): Analysts expect the national carrier to deliver much lower earnings for the first quarter of FY2025 to June, based on forecasts. Still, the rebound in air freight rates is deemed a tailwind for the group and should provide some support to the company’s FY2025 earnings. Shares of SIA closed 0.3 per cent or S$0.02 higher at S$7.11 on Wednesday.

Sats , SIA Engineering (SIAEC): Air cargo handler Sats, aircraft maintenance provider SIAEC and Changi Airport Group have inked a memorandum of understanding to develop a proof of concept for autonomous buses to transport airport staff around Changi Airport’s airside. The collaboration is part of Changi Airport’s collective effort to automate routine driving tasks so airside professionals can focus on more complex activities, while presenting opportunities for job redesign and upskilling. Sats closed at S$3.27 on Wednesday, down 1.5 per cent or S$0.05. Meanwhile, SIAEC shares closed flat at S$2.43.