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Singapore stock watch: ThaiBev, Singapore Airlines, SIA Engg, No Signboard, Sakae, F&N, Companies & Markets News & Top Stories

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SINGAPORE – SINGAPORE (THE BUSINESS TIMES) – The following companies saw new developments that may affect trading of their securities on Monday (Feb 17):

Thai Beverage Public Co (ThaiBev): The brewer reported a 14 per cent jump in net profit to 8.4 billion baht (S$380 million) from 7.4 billion baht a year ago, led by improvements in the spirits business and a turnaround in the non-alcoholic beverage business. ThaiBev shares closed 0.5 cent or 0.6 per cent higher at 78.5 cents on Friday.

Singapore Airlines (SIA): The national carrier posted a 10.9 per cent rise in its Q3 net profit on Friday, but warned that the growing scale of the Covid-19 outbreak would pose “significant challenges” to the group as it looked to “tightly” manage costs ahead. SIA shares advanced three cents or 0.4 per cent to finish at $8.62 on Friday before the results.

SIA Engineering (SIA Engg): The Singapore provider of aircraft maintenance, repair and overhaul services announced on Saturday that it has entered into an agreement with Air Innovation Korea to form a line maintenance joint venture based in South Korea. The counter closed flat at $2.57 on Friday before the announcement was made.

No Signboard Holdings: The Catalist-listed restaurant group saw its losses balloon for the first quarter on the back of depreciation and amortisation expenses as new accounting standards were adopted, according to unaudited results released on Friday. No Signboard shares last traded at $0.04 on Feb 13.

Sakae Holdings: The mainboard-listed food and beverage player trimmed its second-quarter loss by a tad, according to results released on Friday, as the Japanese restaurant operator continued with “streamlining group operations”. Watch-listed Sakae has indicated in the past that such streamlining includes the use of a central kitchen and technology. Sakae shares last traded on Feb 11 at $0.80.

Fraser and Neave (F&N): The mainboard-listed drinks maker will offer corporate guarantees to third-party lenders for associate Coffee Concepts (Thailand) Co’s financial obligations, according to an interested-person transaction disclosure filed on Friday. The counter added one cent or 0.6 per cent to $1.70, before the announcement.

Chip Eng Seng Corp: The mainboard-listed real estate group’s fourth-quarter earnings took a hit from a double-digit drop in contributions from the core property development business, according to results released on Friday. Chip Eng Seng shed half a cent, or 0.8 per cent, to $0.60, before the results.

Centurion Corp: The mainboard-listed housing operator will get to use a site in Toh Guan as a workers’ dormitory for an extra 25 years, it said in a bourse filing on Friday. The Singapore Land Authority gave the go-ahead for the lease to be extended to November 2057, from September 2032. Centurion shares closed up by $0.01 or 2.2 per cent at $0.46, before the announcement.

Chuan Hup Holdings: The mainboard-listed property investment company was back in the black for the second quarter, according to unaudited results released on Friday. Net profit stood at US$3.93 million, from a loss of US$1.75 million before, due to narrowed property development expenses. The counter shed half a cent or 2.2 per cent to $0.225, before the results.



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