[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Aug 4):
Singapore Airlines (SIA): The flag carrier was downgraded to a “sell” by UOB Kay Hian on Aug 1, with its target price reduced to S$6.03 from S$6.63. Maybank also downgraded the national airline to a “sell” rating on Jul 29, lowering its target price to S$6.75 from S$6.85, as did CGS International, downgrading it to a “reduce” and cutting its target price to S$6.80 from S$6.88. SIA’s profit plunged 58.8 per cent for its first quarter ended June on drag from Air India and tariffs hurting its cargo business. The counter ended Friday up 0.3 per cent or S$0.02 at S$6.82.
Nio: The electric vehicle (EV) maker on Friday announced its delivery of 21,017 vehicles for July 2025. This consisted of 12,675 vehicles from its premium smart EV brand Nio, 5,976 vehicles from its family-oriented smart EV brand Onvo, and 2,366 vehicles from its small smart high-end electric car brand Firefly. Year to date, it has delivered 135,167 vehicles, a 25.2 per cent increase on the year. The counter closed 5.5 per cent or US$0.25 higher at US$4.79, before the announcement.
Genting Singapore: The company announced on Friday that chief financial officer Lee Shi Ruh was appointed president and chief operating officer. She will be stepping down as CFO and will be succeeded by Ang Suat Ching. Ang is currently CFO of Resorts World Sentosa (RWS), an indirect wholly owned subsidiary of Genting Singapore. Outgoing president and COO Tan Hee Teck also stepped down as CEO and chairman of RWS in May. Shares of Genting Singapore closed flat at S$0.735, before the announcements.
City Developments Ltd (CDL): Its executive chairman Kwek Leng Beng told The Business Times that his plans are for the group’s portfolio of hotels to reach the 500 mark. This includes those under subsidiary Millennium Hotels & Resorts and will represent a trebling of the size of its portfolio, which is currently at 160 hotels. The counter ended Friday down 0.7 per cent or S$0.04 at S$6.12.
United Hampshire US Reit: The real estate investment trust (Reit) has acquired a freehold shopping centre in Pennsylvania for a purchase consideration of US$16.4 million, subject to closing and post-closing adjustments. As part of Reit’s portfolio optimisation and capital recycling strategy, the acquisition will be funded by proceeds from the divestment of its supermarket property in Albany, New York. Units of United Hampshire US Reit closed on Friday 1.1 per cent or US$0.005 lower at US$0.47.
GHY Culture & Media: The group expects to report a loss after tax for the six months ended June, it said in a profit guidance issued on Friday. It attributed the loss to the unrealised foreign exchange loss arising from the Singapore dollar’s appreciation in the half year against the renminbi, given its significant operations in China, as well as against the US dollar, as the group holds US dollar denominated bank deposits for operational and financing purposes. The counter ended unchanged at S$0.155, before the announcement.
Ossia International: The Harvey Norman operator’s controlling shareholders’ offer to take the company private was only partially accepted, according to a bourse filing on Friday. The closing date of their offer was extended to Aug 1 after receiving 87.32 per cent of valid acceptances on the previous deadline of Jul 8. However, the portion of valid acceptances inched up by just 1.48 per cent, giving the controlling shareholders and the concert party 87.54 per cent of shares after the market closed on Friday. The counter ended Friday up 1.3 per cent or S$0.002 at S$0.16.
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