Singapore stock watch: SIA, Keppel, SGX, China Aviation, Accordia Golf Trust

The Singapore Exchange Centre in Shenton Way. PHOTO: REUTERS

SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Friday (Aug 21):

Singapore Airlines (SIA): The flag carrier said it has used half of the $8.8 billion it raised during the rights issue in June, although some of those funds were used to repay a bridge loan for expenses incurred earlier in the year. Separately, SIA will deploy some staff to share the airline's experience and expertise in customer service with other companies and organisations. The counter gained $0.01 or 0.3 per cent to finish Thursday at $3.63.

Keppel Corp: The Office of the Comptroller General of Brazil has suspended its administrative enforcement procedure against five subsidiaries of Keppel Corp in relation to "alleged irregularities under the Brazilian Anti-Corruption Statute", the conglomerate announced on Thursday after market close. Its shares finished $0.14 or 3 per cent lower at $4.61.

Singapore Exchange (SGX): The bourse operator will build on its long relationship and track record in existing products with London Stock Exchange-owned FTSE Russell to develop and market a multi-asset index derivatives offering focusing on Asian and Emerging Markets. Shares of SGX fell $0.08 or 0.9 per cent to close at $8.57 on Thursday, before the announcement.

Wilmar International: Shares of the agri-food giant tumbled on Thursday after one of its largest shareholders, Archer Daniels Midland, announced plans to sell off shares and bonds worth U$800 million. The stock dropped to an intraday low of $4.31, before ending the day at $4.36, down $0.50 or 10.3 per cent.

China Aviation Oil (Singapore): The mainboard-listed jet fuel trader said the allegations made against it by Banque de Commerce et de Placements SA, DIFC Branch were "entirely unmeritorious and misconceived". The Swiss bank had alleged that China Aviation acted in breach of a letter of credit. Shares of China Aviation lost three cents or 3.4 per cent to close at 86.5 cents on Thursday, before the announcement.

Accordia Golf Trust (AGT): Its first-quarter net profit sank 75.4 per cent to 570 million yen (S$7.4 million), AGT's manager said on Friday, adding that the performance of its golf courses showed a "significant decline" due to the state of emergency declared in Japan between April and May to combat the spread of Covid-19. AGT units ended Thursday at 74 cents, up 0.5 cent or 0.7 per cent.

Singapore Telecommunications (Singtel): S&P Global Ratings has forecast the telco's reported earnings before interest, taxes, depreciation and amortisation to decline by 11-13 per cent to between $3.9 billion and $4.1 billion in fiscal 2021. Singtel shares closed at $2.32 on Thursday, down $0.01 or 0.4 per cent.

Golden Energy and Resources (Gear): The coal miner and trader is hoping to take the opportunity of the low coal price environment to acquire more assets while looking to optimise costs, its head of investments Mark Zhou told The Business Times. Gear shares ended trading on Thursday at 15.7 cents, down 0.3 cent or 1.9 per cent.

Secura Group: The Catalist-listed firm's subsidiary, Secura Training Academy, has been suspended for a year from all funding schemes administered by the SkillsFuture Singapore Agency due to breaches. Shares in Secura closed at 7.8 cents on Thursday, down 3.7 per cent or 0.3 cent, before the announcement.

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