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Stocks to watch: GuocoLand, Axington, SATS, Aspen, SIA, Koufu
THE following companies saw new developments that may affect trading of their securities on Tuesday:
GuocoLand: The real estate developer's full-year net profit halved to S$114.1 million, largely due to the absence of fair-value gains on investment properties. GuocoLand proposed a dividend of S$0.06 per share for the fiscal year ended June 30, 2020. The counter rose S$0.01 or 0.7 per cent to finish at S$1.40 on Monday, before the results were released.
Axington: The Singapore Exchange's regulatory arm has "engaged" Axington's continuing sponsor over how it has assessed the "experience, expertise, character and integrity" of its chairman Shen Che. Ms Shen and the Loh cousins Nelson and Terence Loh - Axington's controlling shareholders - are embroiled in a scandal over doctoring photos of former US president Barack Obama for marketing collateral uses. On Monday, the stock fell nearly 22 per cent at the start of trading but ended the day at S$0.22, down 2.2 per cent.
SATS: The ground handler and food solutions provider will continue to reduce its headcount after swinging into loss for its fiscal first quarter, it said in a conference call without specifying the final reduction. SATS shares closed S$0.16 or 5.5 per cent higher at S$3.08 on Monday.
Aspen: The Catalist-listed Malaysian firm on Monday saw its shares soar 80.5 per cent or 16.5 Singapore cents to an intraday high of 37 cents - a record since its initial public offering in July 2017. After trading hours, Aspen said the trading activity might have been caused by its Aug 12 announcement on its plans to diversify its property business to include glove manufacturing and distribution.
Singapore Airlines: Its budget carrier Scoot has modified one of its A320ceo aircraft to carry cargo in the cabin by removing all seats. The move doubles the aircraft's cargo-carrying capacity to nearly 20 tonnes, Scoot said in a press statement on Monday. SIA shares were trading at S$3.78 as at 9.07am on Tuesday, up S$0.10 or 2.7 per cent.
Koufu Group: The food and beverage player wants to expand its Supertea and R&B Tea brands to the Philippines, and has given Shakey's Pizza Asia Ventures the rights to retail them under a master franchise agreement. Shares of Koufu fell 0.5 Singapore cent or 0.7 per cent to close at 67.5 cents on Monday, before the announcement.
Avarga: It is exploring opportunities relating to paper manufacturing, which include the expansion and/or potential listing of said business, Avarga said on Monday night in response to the bourse operator's queries about its trading activity. Shares in the mainboard-listed firm jumped as much as 33.1 per cent on Monday, before closing at 19.5 Singapore cents, up 4.1 Singapore cents or 26.6 per cent.
Boustead Singapore: The mainboard-listed company's unit has bagged a A$30 million (S$29 million) contract to provide an Australian federal government department with geographic information systems technology. Boustead shares dropped 0.7 per cent or 0.5 Singapore cent to close at 71.5 cents, before the announcement.