Stocks to watch: Singtel, Sunningdale, Sembcorp, AGV, Raffles Education

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

Singapore Telecommunications (Singtel): The telco is pacing its investment for 5G deployment, and is on track to roll out its 5G network coverage to half the island in two years' time and nationwide by 2025, said Yuen Kuan Moon, chief executive for its Singapore consumer operations, on Wednesday. Singtel shares lost S$0.02 or 0.9 per cent to end at S$2.22.

Sunningdale Tech: The mainboard-listed precision manufacturer has been approached in relation to a possible transaction involving its shares, Sunningdale said on Wednesday after market close. The stock gained S$0.02 or 1.6 per cent to end at S$1.25.

Sembcorp Industries (SCI), Sembcorp Marine (SMM): Investors piled into SCI shares on the counter's first day of trading excluding entitlements, with the stock finishing at S$1.17, up 21.6 per cent. Meanwhile, SMM's stock closed lower at S$0.19, down 1.6 per cent. However, the increase in SCI's value was more than sufficient to compensate shareholders for the fall in the value of their SMM distribution.

AGV Group: The Catalist-listed hot-dip galvanising firm on Thursday said that its nominating committee has recommended that executive director Albert Ang step down, amid an investigation by the Commercial Affairs Department. AGV shares closed at 2.5 Singapore cents on Wednesday, down 0.2 cent or 7.4 per cent.

Raffles Education: The private education provider's shares sustained their gains on Wednesday afternoon after the company announced that substantial shareholder Oei Hong Leong had bumped up his stake slightly to 13.05 per cent. The counter ended the day at 17.8 Singapore cents, up 2.8 cents or 18.7 per cent.

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Frasers Centrepoint Trust (FCT): S&P Global Ratings has affirmed its BBB long-term issuer credit rating on FCT. The agency expects the trust's portfolio quality to "improve significantly" after its proposed acquisition of the remainder of AsiaRetail Fund. FCT units fell S$0.04 or 1.5 per cent to close at S$2.67, before the filing was made.

Kimly: The coffee shop operator announced on Wednesday that its wholly-owned subsidiary has signed two joint-venture agreements for around S$2.5 million to operate and manage coffee shops in Aljunied and Bukit Batok. Shares of Kimly last traded on Tuesday at 24.5 Singapore cents.

Darco Water Technologies: The mainboard-listed firm on Wednesday evening said it has filed a writ of summons and statement of claim against its former director and executive officer Thye Kim Meng, claiming relief for his breach of duties in two projects. Darco shares last traded at S$0.16 on Aug 24.