Singapore stock watch: Singtel says parts of Optus network affected by Australia bush fires

The Singapore Exchange Centre in Shenton Way. PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Tuesday (Jan 6):

Singtel, ComfortDelGro: The Australia fires have affected parts of Singtel subsidiary Optus' telecom network in New South Wales and Victoria states, The Business Times (BT) reported on Tuesday. "Optus is working closely with the relevant emergency services to access mobile infrastructure to restore services as a priority," a Singtel spokesman said. Separately, while ComfortDelGro said on Monday night that none of its bus services in the stricken states of New South Wales, Victoria and Queensland are directly affected by the blazes. Singtel shares fell $0.02 or 0.59 per cent to $3.35 at Monday's close, while ComfortDelGro shed $0.04 or 1.7 per cent, before its announcement.

Ascendas Reit, Frasers Property, Cache Logistics Trust, Olam International, QAF, Keppel Infrastructure Trust: These Singapore-listed firms with assets in Australia have so far not been affected by the raging bushfires in Australia, BT reported on Tuesday. Australia's metropolitan areas have so far been spared, offering respite to a number of Singapore real estate players. At Monday's close, Ascendas Reit units closed up $0.01 or 0.3 per cent to $2.99, Frasers Property edged down $0.01 or 0.6 per cent to $1.71, while Cache Logistics Trust was unchanged at $0.72. Olam closed down $0.03 or 1.6 per cent to $1.81, QAF was flat at $0.80, and Keppel Infrastructure Trust closed up $0.005 or 0.9 per cent to $0.545.

No Signboard Holdings: The Catalist-listed seafood restaurant operator has applied for a two-month extension to hold its annual general meeting for the financial year ended Sept 30, 2019, as an independent review conducted at the directive of the Singapore Exchange Regulation is ongoing, the firm said on Monday night. No Signboard shares closed down 0.1 cent or 1.9 per cent to 5.1 cents on Monday before the announcement.

ST Engineering: The company could find itself among the preferred picks of 2020, with a strong orderbook providing visibility for the next few years and contributions from recent acquisitions expected to bolster earnings. ST Engineering brought in nearly $6.5 billion worth of fresh orders in the first three quarters of 2019. "This...holds scope for strong topline growth over the next two years," said UOB Kay Hian analyst K Ajith. The counter closed down $0.03 or 0.8 per cent to $3.93 on Monday.

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