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Stocks to watch: Suntec Reit, IHH Healthcare, SIA Engg, Thomson Medical, Creative
THE following companies saw new developments that may affect trading of their shares on Friday:
Suntec Real Estate Investment Trust (Suntec Reit): Suntec Singapore Convention and Exhibition Centre is undertaking a one-off retrenchment exercise that will cut 85 jobs, as the events business dries up amid the Covid-19 pandemic. Units in Suntec Reit closed at S$1.40 on Thursday, down S$0.01 or 0.7 per cent.
IHH Healthcare: In results announced on Thursday, the hospital operator sank into the red for its second quarter ended June 30, as it posted a net loss of RM120.6 million (S$39.5 million), compared to the RM185 million profit a year ago. Shares of IHH Healthcare last traded at S$1.79 on Aug 25.
SIA Engineering Company (SIAEC): SIAEC, which provides aircraft maintenance, repair and overhaul services, has acquired the remaining 35 per cent stake in former joint-venture company Heavy Maintenance Singapore Services. The stake is being acquired from Airbus Services Asia Pacific, a Singapore-incorporated wholly-owned unit of Airbus SAS. SIAEC shares closed down S$0.01 or 0.5 per cent at S$1.88 on Thursday before the news.
Thomson Medical Group: The private provider of healthcare services for women and children posted a net loss of S$97.5 million for the second half of its fiscal year, reversing from a net profit of S$240,000 a year ago. Thomson Medical shares dropped 0.2 Singapore cent or 3.6 per cent to close at 5.4 cents on Thursday, before the results were released.
Creative Technology: Mainboard-listed Creative has sunk into the red with a net loss of US$9.1 million for its second half ended June 30, 2020 compared with a net profit of US$7.2 million in the year-ago period. Shares in Creative closed flat at S$2.74 on Thursday, before its results announcement.
Darco Water Technologies: Minority shareholders are hampering growth of the environment-solutions company, deputy chairman Robert Wang Zhi told The Business Times. Mr Wang also said the lack of progress on long-term concession projects was partly due to travel curbs imposed during the Covid-19 pandemic. Darco shares last traded at S$0.16 on Aug 24.