Stocks to watch: Singtel, SIA Engineering, UMS, Samudera Shipping, Lum Chang Creations

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jun 8):

Singtel : Singtel announced on Friday that it will partner Digital Industry Singapore (DISG) to strengthen its capabilities in artificial intelligence (AI)-enabled operations. The initiative also covers talent development and employment, as well as governance and technology framework. Singtel is the first company to be funded through this new multi-year AI initiative by DISG. Shares of Singtel ended at S$4.29, S$0.03 or 0.7 per cent lower on Friday.

SIA Engineering (SIAEC) : SIAEC announced on Saturday that it has partnered French aerospace giant Safran Aircraft Engines in a US$118 million joint venture to set up a full-fledged aircraft engine shop in Singapore. This will provide maintenance, repair and overhaul services for CFM Leading Edge Aviation Propulsion (Leap) engines. Shares of SIAEC ended flat at S$3.18 on Friday.

UMS Integration : The high-precision semiconductor company on Friday announced that it has inked a non-binding memorandum of understanding (MOU) to invest about US$3.6 million for a 51.6 per cent stake in a joint venture (JV) company in Vietnam. The proposed JV will consolidate three Vietnam-based precision engineering and metal plating companies. Shares of UMS fell 3.1 per cent on Friday to close S$0.08 lower at S$2.53, before the news.

Samudera Shipping : A container vessel chartered by Samudera on its Singapore-Pasir Gudang service has sunk en route. In a regulatory filing on Sunday, the group said the vessel, Golden Star 1, sank at about 11 pm last Friday. All crew members were safely evacuated, with no casualties. Shares of Samudera ended at S$0.955 on Friday, S$0.005 or 0.5 per cent lower.

Lum Chang Creations (LCC) : Catalist-listed LCC on Monday said that it is “currently still monitoring and evaluating the market conditions” for its proposed placement as it prepares for a transfer to the mainboard. The placement was intended to help LCC meet the mainboard’s minimum shareholding spread and distribution requirements. Due to the current uncertain timeline, LCC stated that it will hold off on applying to the Singapore Exchange for the listing and quotation of the bonus shares. Shares of LCC fell 2.3 per cent to close S$0.02 lower at S$0.84 on Friday, while those of parent Lum Chang Holdings were flat at S$0.53.