Stocks to watch: UMS, NetLink NBN Trust, ComfortDelGro, Singapore Exchange

THE following companies saw new developments that may affect trading of their securities on Friday (Mar 7).

UMS Integration: The semiconductor equipment manufacturer earned upgrades from three brokerages on the back of a positive outlook for financial year 2025, although it missed consensus earnings estimates for the full year ended December. Analysts from UOB Kay Hian, Maybank and DBS upgraded the counter to “buy” from “hold”, with target prices of S$1.21, S$1.16 and S$1.31, respectively. The company’s revenue is expected to grow in FY2025, as it continues to ramp up its new product initiatives and the production of existing goods. Shares of UMS closed at S$1.12 on Thursday, down 0.9 per cent or S$0.01.

NetLink NBN Trust; ComfortDelGro: NetLink will replace ComfortDelGro on the reserve list of the Straits Times Index (STI), following the index’s March 2025 quarterly review. The list is made up of the five highest ranking non-constituents of the STI by market capitalisation. Stocks on the reserve list will replace any STI constituents that become ineligible as a result of corporate action before the next review, which will take place in June 2025. The other four entities on the reserve list are CapitaLand Ascott Trust, Keppel DC Reit, Keppel Reit and Suntec Real Estate Investment Trust. The changes take effect at the start of business on Mar 24. Units of NetLink ended flat at S$0.855 on Thursday, while shares of ComfortDelGro ended trading 2.1 per cent or S$0.03 higher at S$1.45.

Singapore Exchange (SGX): The bourse operator announced several changes to its foreign exchange (FX) and technology management teams on Thursday, including two resignations. It said that Lee Beng Hong, head of wholesale markets and platforms, had resigned “to pursue other opportunities”. He has been in the role since 2019, and will leave at the end of March. He will be replaced by Jean-Philippe Male, who is the co-founder and chief executive officer of BidFX, an FX over-the-counter platform business acquired by SGX Group in 2020. Following Lee’s departure, Male will be appointed CEO of SGX FX on Apr 1. Thijs Jacobs, group chief technology officer, is also stepping down from his position. His responsibilities will be covered by chief information officer Tinku Gupta until his replacement is found. The counter ended Thursday 0.4 per cent or S$0.05 higher at S$13.22.