Stocks to watch: IHH, Venture, SIAEC, FHT, Tuan Sing, Boustead Projects, HC Surgical

THE following companies saw new developments that may affect trading of their securities on Monday:

IHH Healthcare: The healthcare heavyweight's chief executive Kelvin Loh said in an interview with The Business Times that the Covid-19 pandemic's impact on business will be short-lived, and the group is well prepared to handle the virus outbreak. This comes as the group faces the triple blow of withering medical tourism, overcapacity and lower volumes. IHH shares closed flat at S$1.68 on Friday. 

Venture Corporation: The company's entities in Singapore and Malaysia could stand to benefit from possible realignment of the global supply chain in the current business environment, according to a first-quarter update on Friday which reported that the group's net profit shrank by about 33 per cent year on year to S$60.3 million. Venture shares fell S$0.02 to close at S$15.74 on Friday.

SIA Engineering Company (SIAEC): The group, which provides aircraft maintenance, repair and overhaul services, saw its Q4 net profit rise 5.9 per cent year on year to S$52.2 million as its operating performance was strengthened by government support, but the group trimmed its final dividend from eight cents to five cents a share. SIAEC shares closed at S$1.80 on Friday, down S$0.02 before the results were released. 

Frasers Hospitality Trust (FHT): The stapled group's distribution per stapled security (DPS) for the second quarter ended March 31, 2020 fell 68.1 per cent to 0.3137 Singapore cent from a year ago as travel demand took a significant hit from the Covid-19 pandemic, according to its results released on Friday. The counter closed flat at S$0.48 on Friday before the results were released. 

Tuan Sing Holdings: The mainboard-listed property developer's business operations impacted by the Covid-19 pandemic are "largely confined" to its hospitality segment, with its diversified portfolio across segments and regions ensuring a "high degree of resilience", said the group in a corporate update late on Saturday. Tuan Sing shares closed at S$0.23 on Friday, down S$0.01 or 4.2 per cent, before the announcement. 

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Boustead Projects: The mainboard-listed firm on Friday said its wholly-owned subsidiary in Malaysia, BP Engineering Solutions, has landed a significant design-and-build contract to deliver an advanced high-tech industrial facility in Penang. The latest contract boosts Boustead Projects' order book backlog to S$710 million. Shares of Boustead Projects closed at 74 Singapore cents on Friday, up half a cent, before the announcement. 

HC Surgical Specialists (HCSS): The group on Sunday said it has constituted a litigation committee after minority shareholder Serene Tiong - who was also the defendant in a failed defamation lawsuit brought by the group's surgeon Julian Ong - alleged that HCSS chief executive officer Heah Sieu Min breached his duties as a director. In addition, Ms Tiong is giving the requisite 14 days' notice of her intention to apply to the court under Section 216A(2) of the Companies Act, for leave to bring an action in the name and on behalf of the company against Dr Heah in respect of the allegation. Shares of Catalist-listed HCSS were flat at S$0.34 at Friday's close.

Elite Commercial Reit: The real estate investment trust (Reit) posted a distribution per unit of 0.74 pence for the first quarter ended March 31, 2020, up 1.4 per cent from its initial public offering forecast of 0.73 pence, according to its financial results released on Monday. The counter closed flat at 67.5 pence on Friday.