Stocks to watch: Sats, Great Eastern, Wing Tai, Beng Kuang Marine, Capital World
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Aug 21):
Sats: The airline caterer on Wednesday reported a 9.1 per cent year-on-year rise in net profit to S$70.9 million for the first quarter ended Jun 30, 2025, on the back of growth in aviation cargo and food service volumes. Revenue for Q1 increased 9.9 per cent to S$1.5 billion. Of this, about S$1.2 billion came from gateway services, 11.2 per cent higher than in the same year-ago period, due to a larger customer portfolio. Shares of Sats closed at S$3.18, down 1.6 per cent or S$0.05, before the results were released.
Great Eastern: The Singapore insurance company is resuming trading on Thursday after a proposed bonus share issue lifted its free float to above 10 per cent. It was suspended from trading in July 2024 after its free float fell below 10 per cent, following a failed takeover bid by parent company OCBC. Most recently, its Q2 earnings were down 11 per cent at S$248.2 million. Shares of Great Eastern last traded at S$25.80 on Jul 15, 2024.
Wing Tai: The real estate group announced on Wednesday that it had granted options to purchase four units in the River Green condominium to two children of its managing director and chairman Cheng Wai Keung, for a total of S$7.9 million. The options were issued to his son Kelvin Cheng, priced at about S$1.96 million for a fifth-floor unit and about S$1.97 million for a sixth-floor one; another two were granted to his daughter Carol Cheng, for seventh and eighth-storey units priced at around $1.99 million and S$2 million, respectively. Both children are trustees on behalf of beneficiaries, and neither were given discounts. The project is in River Valley and developed by Wing Tai. Wing Tai shares ended Wednesday flat at S$1.36, prior to the news.
Beng Kuang Marine: The group on Wednesday said that it has formed a new business for specialised industrial chemical cleaning named Clean Concept Works. It will focus on chemical cleaning and hot oil flushing services. These processes are crucial in the pre-commissioning and maintenance of floating production storage and offloading vessels (FPSOs), said the company. It ensures that fluid systems of the vessels – including piping, hydraulics and lubrication circuits – operate in a more streamlined fashion within the demanding offshore environment of FPSOs. The counter closed at S$0.24, down S$0.01 or 4 per cent, before the announcement.
Capital World: Its subsidiary, Capital City Property, is facing payment demands of around RM327,953 (S$99,790) from a buyer it sold a serviced suite unit to in March 2021. The buyer is seeking claims over Capital City Property’s failure to vacate the unit within 52 months of the sale and purchase agreement date. The property company on Wednesday said that it is taking legal advice, with the case management scheduled to be held on Sep 11 at the Johor Bahru Session Court. The counter closed flat at S$0.001, before the news.
