Stocks to watch: ST Engineering, Seatrium, Olam Group, Capitaland Ascott Trust, YZJ Financial, iFast

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Apr 28).

ST Engineering: The group announced on Monday it secured new contracts worth about S$4.5 billion in the first quarter of 2025. These comprised S$1.3 billion from the commercial aerospace segment, S$2.7 billion from the defence and public security segment, and S$500 million from the urban solutions and satcom segment. The counter closed on Friday 1.2 per cent or S$0.09 lower at S$7.23, before the news.

Seatrium: It announced on Friday that Stephen Lu, its executive vice-president (EVP) for strategy, has been appointed as its new chief financial officer (CFO). Lu, whose new role will take effect from Apr 29, will continue to concurrently serve as EVP for strategy. This follows the resignation of Seatrium’s current CFO, Adrian Teng, who is leaving to pursue personal interests, the company said. Units of Seatrium closed 1.6 per cent or S$0.03 higher at S$1.96 on Friday, before the announcement.

Olam Group: The company announced on Monday that its wholly owned subsidiary Olam Food Ingredients (ofi) secured a US$350 million term loan facility. The facility has a two-year tenor, with Olam Treasury as a borrower, and is initially guaranteed by Olam Group but will transfer to ofi after its initial public offering. Proceeds from the facility will be used for the refinancing of ofi’s existing loans and general corporate purposes. The counter ended on Friday 1.6 per cent or S$0.015 higher at S$0.965.

CapitaLand Ascott Trust: The trust’s manager said on Monday that its gross profit rose 4 per cent year on year in the first quarter of 2025. Gross profits from new properties in the quarter had replaced the gross profit lost from divestments in 2024, the manager said, driven by stronger performance from properties the trust renovated in 2024. The counter closed 1.8 per cent or S$0.015 higher on Friday to reach S$0.855.

Yangzijiang Financial Holding: The financial arm of Yangzijiang Shipbuilding, Yangzijiang Financial, is exploring the possibility of spinning off its maritime investment segment into a newly incorporated company to be listed separately on the mainboard of the Singapore Exchange. The group said on Sunday that the proposed transaction would involve transferring its maritime investment assets into a new entity (spin-off group) to be listed by introduction. The plan is to establish the spin-off group as a pure-play maritime fund manager, with the remaining group continuing its focus on funds, diversified asset management capabilities, and investment operations. Units of Yangzijiang Financial closed on Friday, 1.45 per cent or S$0.01 up at S$0.70, before the announcement.

iFast: The digital bank and wealth management platform saw its net profit rise 31.2 per cent year on year to S$19 million for the first quarter ended Mar 31, driven by a turnaround in its UK bank. Continuing growth in the group’s core wealth management platform business also contributed. Its revenue gained 24.4 per cent to S$106.9 million, and the group’s assets under administration grew 22 per cent to a record high of S$25.7 billion as at the end of Q1, from net inflows of S$938 million, iFast said on Friday. Units of iFast gained S$0.07, or nearly 1 per cent, to close at S$7.19 on Friday, before the company announced its results.