Singapore Stocks to Watch: Singapore Airlines, ST Engineering, Silverlake Axis, Metro Holdings

THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 16):

$Singapore Airlines(C6L.SI)$(SIA) Group on Wednesday (Nov 15) posted a 24.5 per cent year-on-year (yoy) increase in passenger traffic in October, amid robust passenger traffic across all its route regions.

Its bourse filing indicated that revenue passenger-kilometre, which measures the number of passengers carried multiplied by the distance flown, rose to 12.1 billion during the month, from 9.7 billion the year before.

The growth in passenger traffic outpaced the 23 per cent expansion in its capacity. As a result of this, the group’s passenger load factor (PLF) rose by one percentage point to 87.4 per cent. (Passenger load factor is expressed as a percentage of available seat-km.)

$Silverlake Axis(5CP.SI)$: ENTERPRISE technology company Silverlake Axis on Wednesday (Nov 15) posted a 15 per cent fall in its earnings for the first quarter of FY2024, on the back of flat revenue and higher operating costs.

The company’s net profit for the three months ended September stood at RM48.9 million (S$14.1 million) down from RM57.6 million a year earlier. On a per-share basis, its earnings fell to 1.93 sen, from 2.28 sen previously.

Silverlake’s revenue for the quarter was flat, inching up 1 per cent to RM189.2 million, on the absence of a large software-licensing transaction from a client in Indonesia, recognised in the year-ago period.

$Metro Holdings(M01.SI)$: David Tang Kai Kong, the CEO of Metro Holdings’ retail arm and principal subsidiary, Metro (Private) Limited, has resigned to pursue other interests.

Tang’s last day is on Feb 14, 2024. He was appointed to the post on Sept 10, 2012.

While there was no direct replacement announced, Metro has appointed Erwin Wuysang-Oei, its head marketing and merchandising controller and e-commerce, as its chief operating officer (COO).

$ST Engineering(S63.SI)$: Mainboard-listed ST Engineering has signed a memorandum of understanding (MOU) with Elevandi to jointly support fintech start-ups, collaborate on cybersecurity training and certification and research sustainability solutions with ST Engineering’s corporate venture unit. 

Elevandi is a non-profit organisation set up by the Monetary Authority of Singapore in 2021. Both parties signed the MOU on Nov 15 at the Singapore FinTech Festival 2023.