Stocks to watch: SPH, SIA Engineering, United Hampshire US Reit, Serial System, NeraTel

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

Singapore Press Holdings (SPH): T39 The property and media group, which publishes The Business Times, has swung into the black. On Tuesday it posted a net profit of S$92.9 million for the financial year ended Aug 31, 2021 (FY2021), reversing from a net loss of S$83.7 million for the previous financial year. The group's media operations were reported under discontinued operations. Prior to the results announcement, SPH shares closed at S$1.98 on Tuesday, up 0.5 per cent or S$0.01.

SIA Engineering Company (SIAEC): S59 : S59 0% The maintenance, repair and overhaul services provider on Wednesday said it has divested its entire 39.2 per cent shareholding in Asian Surface Technologies (AST) for US$2.79 million in cash. AST is a joint venture between SIAEC and two other partners, and it repairs aircraft engine fan blades. Shares of SIAEC closed 0.5 per cent or S$0.01 higher at S$2.13 on Tuesday.

United Hampshire US Real Estate Investment Trust (UHReit): ODBU Its manager on Tuesday proposed to acquire two grocery-anchored freehold assets in Pennsylvania and Virginia for US$78.3 million. This will be partially financed by proceeds from a private placement of up to 56.5 million new units, priced at US$0.63 per unit. Units of the Reit closed on Monday down 0.5 US cent or 0.8 per cent at 66.5 US cents, before a trading halt was effected on Tuesday morning. Trading resumes today.

Serial System: S69 Its executive chairman and director, Derek Goh Bak Heng, has relinquished his directorship in the company for a period of 24 months. In a bourse filing on Tuesday, the company disclosed that Dr Goh was given a "conditional warning" by the Monetary Authority of Singapore. Serial System shares ended Tuesday up 0.8 per at S$0.12, before the announcement.

Nera Telecommunications: N01 Its subsidiary has received a contract of around S$6 million, relating to the provision of a fibre to the home infrastructure network for a "major service provider" in South-east Asia. The company's shares closed unchanged at S$0.15 on Tuesday, before the announcement.

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Interra Resources: 5GI On Tuesday the petroleum exploration and production firm said its joint venture entity, Goldpetrol Joint Operating Company, has commenced drilling a development well, CHK 1228, in the Chauk oil field in Myanmar. Interra shares rose 2.6 per cent on Tuesday to close at 3.9 Singapore cents, before the announcement.