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Stocks to watch: Singapore Airlines, StarHub, Venture, NetLink, Sembcorp
THE following companies saw new developments that may affect trading of their shares on Monday:
Singapore Airlines (SIA): The national carrier's net loss in the quarter to September doubled that of the earlier three months, dragged by impairments for older aircraft and acquisition goodwill as well as a S$41.7 million retrenchment cost. SIA shares closed S$0.01 or 0.3 per cent higher at S$3.48 on Friday, before the results were released.
StarHub: The mainboard-listed telco is on track to have a new chief executive by early next year, even as it turned in another quarter of double-digit profit declines, it said in a business update on Friday after trading hours. StarHub ended trading S$0.01 or 0.8 per cent higher at S$1.20.
Venture Corp: The electronics manufacturing services firm's net profit dropped 5.9 per cent year on year to S$80.2 million for the third quarter. Venture's shares closed S$0.12 or 0.6 per cent lower at S$19.82 on Friday, before the announcement.
NetLink NBN Trust: Net profit for the fibre optic cable owner increased by 1.5 per cent on the year to S$44.8 million for the six months to September, NetLink said on Friday after market close. NetLink units finished at 97.5 Singapore cents, up 1.5 cents or 1.6 per cent.
Sembcorp Industries (SCI): Its 718 million rand (S$70 million) sale of South African water assets, completed back in 2018, may potentially be reversed as a result of legal proceedings. However, according to legal advice, the prospects of this outcome are remote, SCI said in a bourse filing on Monday. SCI shares finished Friday at S$1.66, down S$0.02 or 1.2 per cent.
SIIC Environment Holdings: The mainboard-listed China water treatment firm's third-quarter revenue fell by 4.1 per cent to 1.51 billion yuan (S$307.6 million) due to a 25.7 per cent drop in construction revenue. SIIC Environment shares lost 0.3 Singapore cent or 1.6 per cent to close at 18 cents on Friday, before the results were released.
Wee Hur Holdings: An Australian subsidiary of the property group is set to buy a freehold plot of land in Sydney for A$46.1 million (S$45.1 million). Wee Hur's shares tumbled 0.6 Singapore cent or 3 per cent to end at 19.1 cents on Friday, before the announcement.
ST Group Food Industries: Even as the food and beverage industry reels from the pandemic, the Catalist-listed firm is on track to open eight new food outlets by year end, and is hunting for more new sites amid a softening rental market, it told The Business Times. The stock was flat at 11.5 Singapore cents at Friday's close.