Stocks to watch: Sembcorp, The Hour Glass, Wee Hur Holdings

[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Monday (Apr 7):

Sembcorp Industries: Sembcorp Industries is “well-positioned” to achieve its target of 25 gigawatts (GW) of gross installed renewables capacity by 2028, said the company in its FY2024 annual report released last Tuesday. The company’s gross renewables capacity stands at 17 GW as at February this year, “a notable increase from 12.9 GW a year ago”. The company also aims to expand its land bank from 14,000 hectares (ha) to 18,000 ha by 2028, while scaling industrial properties from 100,000 square metres (sq m) to 1.5 million sq m. The annual report separately indicated that chief executive Wong Kim Yin’s FY2024 total remuneration stood at S$6.4 million, down from S$7.9 million a year ago. Shares of Sembcorp ended Friday 3.2 per cent or S$0.21 lower at S$6.41.

The Hour Glass: The group announced on Monday plans by its wholly owned Australian subsidiary to acquire a newly incorporated company SPV for A$90 million (S$72.4 million). SPV is an Australian company whose principal activity is the retailing of watches and related products. Shares of The Hour Glass closed flat at S$1.55 on Friday before the announcement.

Wee Hur Holdings: The company announced on Friday that Wee Hur Hospitality and Y Suites Australia, which manages the Purpose-Built Student Accommodation portfolio of the Group in Australia, recently experienced a cybersecurity incident involving a phishing attack on certain IT servers. Cybersecurity experts have been engaged to investigate the incident, and it has been reported to the Personal Data Protection Commission Singapore. A preliminary assessment shows no significant impact to the group’s business operations arising from the incident, the announcement said. Shares of Wee Hur ended Friday 4 per cent or S$0.02 lower at S$0.48.