Singapore stock watch: Tee Intl, Wing Tai, Sats, SIA, ESR-Reit, IHH Healthcare, UOL, Ho Bee Land

SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their shares on Monday (March 2):

Tee International: Tee International has clarified that its group chief financial officer, Yeo Ai Mei, 48, has resigned in view of her "involvement in unauthorised remittances", the mainboard-listed engineering group said in a bourse filing on Saturday. Shares in Tee International closed at 4.4 cents on Friday, down 0.2 cent or 4.4 per cent.

Wing Tai Holdings: Wing Tai Retail has retrenched 20 employees, following a review of its business operations which began late last year. Shares in Wing Tai Holdings closed at $1.95 on Friday, down $0.05.

Singapore Airlines (SIA): With the Covid-19 outbreak hobbling travel demand, SIA will be cutting salaries of senior management by 10 to 15 per cent starting March 1, and offering a voluntary no-pay leave scheme to employees. Shares in SIA ended the day's trading at $8 on Friday, down $0.32.

Sats: The mainboard-listed aviation services provider said on Monday that it has acquired UK-based aviation food solutions company Monty's Bakehouse UK for £26.7 million (S$48.4 million). Sats shares closed at $4.03 on Friday, down $0.19 or 4.5 per cent.

ESR-Reit: ESR-Reit has entered into a $200 million unsecured loan facility agreement comprising a $150 million term-loan facility and a $50 million revolving-loan facility, the real estate investment trust's manager said on Friday. Units in ESR-Reit closed down 1.5 cents or 2.8 per cent to 53 cents on Friday before the announcement.

IHH Healthcare: Higher net interest expenses and depreciation from new hospital projects hurt mainboard-listed IHH Healthcare's fourth quarter underlying profit, but new chief executive and managing director Kelvin Loh has vowed for a strategy refresh and portfolio review to make 2020 a "year of change". IHH shares fell $0.01 or 0.53 per cent to $1.87 on Friday before results were announced after market close.

UOL: Higher fair value and other gains boosted UOL's net profit by 14 per cent to $478.8 million for the full year ended Dec 31, 2019, while revenue declined 5 per cent to $2.28 billion. Shares of UOL closed $0.38 cents or 4.9 per cent lower to $7.37 amid a broad market selloff.

Ho Bee Land: Fair value gains on investment properties totalling $243.7 million sent Ho Bee Land's net profit soaring for the fourth quarter ended Dec 31, 2019. Q4 net profit rose more than three times to $267.6 million from $81.4 million a year ago, the property firm reported on Friday.

Chip Eng Seng: The Housing & Development Board has awarded a $98.7 million building works contract to Chip Eng Seng Contractors (1988), a wholly-owned subsidiary of mainboard-listed real estate group, Chip Eng Seng. Chip Eng Seng shares closed at $0.59 on Friday, down $0.01 or 1.7 per cent.

Rex International: Rex International on Friday posted a net loss of US$3.8 million for the fourth quarter of 2019, compared to a net profit of US$7.6 million a year ago. Rex International shares closed down 0.5 cent or 2.51 per cent to 19.4 cents on Friday before the results were announced.

Hiap Hoe: Property developer Hiap Hoe registered a net profit of $16.2 million for the fourth quarter ended Dec 31, a turnaround from its net loss of $13.3 million for the previous corresponding period. Its shares closed down 1.5 cents, or 1.94 per cent, at 76 cents on Friday before the results were announced.

Yongnam Holdings: Yongnam Holdings on Friday posted a net loss of $53.1 million for the year ended Dec 31, widening from a net loss of $51 million a year earlier. Yongnam shares closed up 0.1 cent or 0.7 per cent to 14.4 cents on Friday before the results were announced.