- SembCorp Marine Ltdshare price fell 2.8% on Monday (20 June 2022)
- Singapore Airlines Ltd(SIA) share price dropped last week after posting its May 2022 operating results
- Singapore Telecommunications Limited(Singtel) shares are up on the back of two new announcements
- Keen to trade Singapore shares?Open an account with usto long or short these stocks.
Sembcorp Marine (SGX: S51) $SEMBCORP MARINE LTD(S51.SI)$
Sembcorp Marine responded to further shareholders’ comments and queries in relation to the proposed combination of Sembcorp Marine and a restructured Keppel Offshore & Marine Ltd on Monday.
In response to a question about the rationale for the proposed merger, the company said it ‘offers the best way forward for Sembcorp Marine to play a long-term role in meeting the changing needs of its customers in the O&M sector, who themselves need new, cleaner energy solutions’.
‘The proposed combination will create a premier global player with a deep engineering heritage to offer offshore renewables, new energy and cleaner solutions in the O&M sector, creating significant value on multiple levels for all its stakeholders,’ it added.
The combined entity is also envisaged to unlock synergies from the integration of two established industry players, said Sembcorp Marine. Specifically, the restructured Keppel O&M brings a net order book of S$5.1 billion, which would add to the S$1.3 billion net order book of Sembcorp Marine.
Singapore Airlines (SGX: C6L) $SINGAPORE AIRLINES LTD(C6L.SI)$
The SIA Group saw passenger capacity (measured in available seat-kilometres) reach 61% of pre-Covid-191 levels in May 2022.
This was also an improvement of 126.3% from May 2021, and four percentage points higher than April 2022.
The group passenger load factor for the month stood at 78.2%, the highest since the onset of the pandemic. This was an uptick of 5.5 percentage points month-on-month, and 63.9 percentage points year-on-year.
Its flagship airline, Singapore Airlines, and low-cost arm, Scoot, carried a total of 1.71 million passengers in May 2022, up 17.4% from the previous month.
Singapore Telecommunications (SGX: Z74) $SINGTEL(Z74.SI)$
The Board of Directors of Globe Telecom, Inc., which Singtel is a principal shareholder of, have approved a Stock Rights Offer for Globe’s eligible common shareholders.
The Philippines telco expects to raise up to 32 billion pesos (S$827 million), which will be used for the expansion of the mobile and broadband network as well as debt repayment.
Last week, Singtel’s wholly-owned subsidiary, Singtel Global Investment Pte. Ltd., entered into a share purchase agreement with Anderton Investments Pte. Ltd. to acquire approximately 121.16 million shares of Thai telco, Intouch Holdings Public Company Limited, for approximately S$330 million.
This represents approximately 3.78 % of the issued and paid-up shares of Intouch. On completion of the acquisition, Singtel will increase its stake in Intouch to approximately 24.99%.
source: ig
Comments