Stocks to watch: SIA, Sats, Sinarmas Land, Japfa, Aztech, Sabana Reit, LHN, Oiltek

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Apr 16).

Singapore Airlines (SIA): SIA and its low-cost arm Scoot reported a 0.8 per cent year-on-year drop in combined passenger traffic in March, partly due to the shift in the Easter holiday from March in 2024 to April in 2025. Scoot’s passenger traffic fell 5.5 per cent to 2.7 billion, while SIA’s was up 0.5 per cent at 9.9 billion, the national carrier said in an operating update on Tuesday. The two airlines carried a combined total of 3.3 million passengers in March, 0.8 per cent higher than the same period last year. Shares of SIA closed on Tuesday up 1.4 per cent or S$0.09 at S$6.30.

Sats: Its subsidiary Worldwide Flight Services has been awarded a new five-year cargo handling contract with Emirates SkyCargo, the cargo arm of Emirates, at Frankfurt Airport. The contract underscores Sats’ long-term partnership with the world’s largest international airline – it now provides specialised gateway services at 21 stations across Emirates’ global network, said the freight handler in a bourse filing on Tuesday. Shares of Sats closed on Tuesday up 0.8 per cent or S$0.02 at S$2.67.

Sinarmas Land: The property developer on Tuesday reported a 5.5 per cent drop in net profit to S$154 million for the second half-year ended Dec 31, 2024, from S$163 million in the same period the previous year. This came as H2 revenue fell 2.9 per cent to S$721.7 million, while both cost of sales and operating expenses grew 6.5 per cent and 24.2 per cent, respectively. Earnings per share stood at S$0.0362 for the period, down from S$0.0383 in H2 2023. The board declared no dividend for the financial year as “the group is conserving cash for its working capital needs”. The corresponding period of the previous financial year saw a dividend of S$0.0008 per share. The counter closed flat at S$0.32, before the results.

Japfa: The agri-food company’s shareholders have approved the scheme resolution proposed by family members of the founder to take the business private. Its delisting is expected to fall on or around Jun 3, subject to regulatory approval. During the scheme meeting on Tuesday, about 75.1 per cent of the scheme shareholders present and voting agreed to the privatisation offer, representing about 99.3 per cent of the scheme shares. The expected last day of trading for the counter will fall on or around May 9, followed by books closure at 5 pm on May 20. Japfa’s shareholders will receive the scheme consideration of S$0.62 per share in cash on or around May 30, based on an indicative timetable in the company’s bourse filing released after the market closed on Tuesday. Before the market closed on Tuesday, Japfa requested a trading halt, to be lifted after the announcement. The counter last traded flat at S$0.62.

Aztech Global: The device manufacturer’s net profit for the first quarter ended Mar 31, 2025, fell 90.6 per cent to S$1.5 million, from S$15.9 million in the corresponding period in the previous year. This came as revenue declined 67.3 per cent to S$42 million from S$128.6 million, due to reduced customer demand in the quarter, said the company in a bourse filing on Tuesday. This marks the third consecutive time that the group reported a profit drop. Earnings per share for the quarter came in at S$0.002, down from S$0.0206 the year before. It has secured five new customers from the consumer, health tech and industrial segments during the quarter, with commercial production scheduled to start from H2 2025. Shares of Aztech Global closed on Tuesday up 0.7 per cent or S$0.005 at S$0.73.

Sabana Industrial Real Estate Investment Trust (Sabana Reit): The Reit posted a distribution per unit of S$0.0086 for the first quarter ended Mar 31, up 26.5 per cent on the year from S$0.0068. This came on the back of 27 per cent higher distributable income, which stood at S$9.8 million at the end of the period, led by higher net property income (NPI) and partially offset by higher finance costs, said the Reit’s manager on Tuesday. NPI for the period grew 22 per cent to S$16 million, on higher gross revenue and lower property expenses. Revenue stood at S$29.1 million, up 4.6 per cent on the back of higher occupancy and rental reversions. Units of Sabana Reit closed 1.4 per cent or S$0.005 lower at S$0.34, before the results were released.

LHN: The real estate management services group intends to list its co-living business, Coliwoo Group, on the Singapore Exchange (SGX). It has submitted applications to both SGX and Hong Kong Stock Exchange for the proposed spin-off and separate listing of the shares of Coliwoo on the mainboard of SGX. LHN said In a bourse filing on Tuesday that SGX’s regulatory body agrees that the proposed spin-off did not amount to a chain listing, subject to compliance with the local bourse’s listing requirements. LHN noted that Coliwoo would hold the co-living business of the group upon the completion of an internal restructuring exercise. The counter closed 1.2 per cent or S$0.005 higher at S$0.42, before the announcement.

Oiltek International: The company announced on Wednesday that it has won new contracts worth RM61.9 million (S$18.5 million) in Thailand, Malaysia, Indonesia, Africa and the Americas. This brings the group’s current order book to RM402.4 million, which is expected to be fulfilled over the next 18 to 24 months, barring any unforeseen circumstances. Shares of Oiltek closed 3.6 per cent or S$0.04 higher at S$1.16 on Tuesday.