Stocks to watch: SIA, Riverstone, UMS, PropNex, Centurion 

THE following companies saw new developments that may affect trading of their securities on Wednesday (May 11):

Singapore Airlines (SIA): The Competition and Consumer Commission of Singapore on Tuesday said it granted conditional approval of the proposed commercial cooperation between SIA and Malaysia Airlines. The move will see both airlines sharing revenue on flights between Singapore and Malaysia, expanding their codeshare routes and participating in joint marketing activities to develop tourism. Shares of SIA fell 1.7 per cent or S$0.09 to close at S$5.23 on Tuesday, before CCCS made its announcement.

Riverstone Holdings: The Malaysian glove maker on Tuesday posted a net profit of RM108.7 million (S$34.5 million) for the first quarter ended Mar 31, 2022, about one-fifth of the RM522.7 million net profit it booked in the year before. The drop in the group’s Q1 net profit came as demand for healthcare gloves normalises, with the majority of the world adopting an endemic approach to Covid-19. Shares of mainboard-listed Riverstone closed S$0.005 or 0.7 per cent lower at S$0.75, before the announcement was made.