Stocks to watch: SIA, MIT, Sats, NetLink NBN Trust, Japfa, Amara, LHN

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (May 16).

Singapore Airlines (SIA): The company posted a 65 per cent rise in net profit to S$2 billion for the second half of FY2025 ended March, boosted by the non-cash accounting gain from the Air India-Vistara merger. That one-off gain of S$1.1 billion also lifted the group’s full-year net profit to a record S$2.8 billion, against FY2024’s S$2.7 billion, which was the previous record. Revenue rose 1.9 per cent year on year to S$10 billion, marking another record-high from S$9.9 billion in the year-ago period, the group – which includes budget airline Scoot – said in its financial results released on Thursday. SIA shares closed 0.3 per cent or S$0.02 up at S$6.88, before the announcement.

Mapletree Industrial Trust (MIT): The trust divested three of its Singapore industrial properties to Brookfield Asset Management for S$535.3 million, the manager announced on Friday. The assets – The Strategy, The Synergy and the Woodlands Central Cluster – were sold at a 2.6 per cent premium over their combined independent valuation of S$521.5 million. The sale price also represents a 22.1 per cent increase from MIT’s original investment cost of S$438.4 million. Units of MIT closed flat on Thursday at S$1.94.

Sats: The catering and ground-handling company announced on Thursday that it will invest over S$250 million to upgrade its ground operations and cargo-handling infrastructure at Changi Airport. These strategic initiatives will enhance operational reliability and safety, optimise turnaround times, and support growing cargo volumes at Changi Airport through to the mid-2030s when the new Terminal 5 and Changi East Industrial Zone are expected to begin operations, the group said. The investment includes over S$150 million to be spent over the next five years for the renewal and expansion of Sats’ business division Singapore Hub’s ground support equipment fleet. Another S$100 million is being invested to enhance cargo operations over the next two years. Shares of Sats closed on Thursday 0.3 per cent or S$0.01 higher at S$2.97.

NetLink NBN Trust: The Internet service provider posted a 6.9 per cent decrease in net profit to S$46.9 million for the second half ended Mar 31, 2025. NetLink’s earnings were affected by higher depreciation and amortisation, lower income tax credit and higher finance costs, it said in a regulatory filing on Thursday. Revenue for H2 was down 1.8 per cent year on year to S$202.2 million, primarily due to a S$3.2 million reduction in ancillary project turnover from fewer work orders. Distribution per unit edged up by 1.1 per cent to S$0.0268 from S$0.0265. Units of NetLink closed flat at S$0.92, before the announcement.

Japfa: The agri-food company is expected to delist from the mainboard of the Singapore Exchange on Jun 10, after the court on Thursday sanctioned the scheme of arrangement to take the business private. Japfa said the last day of trading of its shares will be on May 16; trading in the counter will be suspended from 9 am on May 19. Japfa’s shareholders will receive the scheme consideration of S$0.62 per share in cash on or around Jun 6, based on an indicative timetable in the company’s bourse filing released after the market closed on Thursday. The books closure date is on May 27 at 5 pm. Shares of Japfa closed at S$0.615 on May 15, giving it a market capitalisation of S$1.17 billion.

Amara: The mandatory cash offer for the hotel group by a consortium led by property company Hwa Hong has turned unconditional. As at 6 pm on Thursday, the total number of shares owned, controlled or agreed to be acquired by the offeror together with valid acceptances of the offer amounted to about 522.5 million shares, or 90.88 per cent of the total number of shares of Amara. This means that Amara has lost its free float, as less than 10 per cent of the company’s shares are now held by the public. The Singapore Exchange will suspend trading of Amara’s shares at the close of the offer on Jun 10. The counter closed flat at S$0.89, before the announcement.

LHN: The real estate management service group’s net profit for the first half ended Mar 31 rose 8.8 per cent to S$14.1 million from S$13 million in the year-ago period. Its revenue increased 29.4 per cent to S$70.6 million from S$54.5 million. The increase was primarily attributed to revenue contribution from the property development business, as well as an increase in revenue from the co-living business, LHN said on Thursday. The counter closed 1 per cent or S$0.005 lower at S$0.495 on Thursday.

Ossia International: The controlling shareholders of Ossia International – group executive chairman Goh Ching Wah, chief executive Goh Ching Huat, and non-executive director Goh Ching Lai – have made an unconditional offer on Thursday to take the lifestyle products retailer and distributor private at S$0.16 a share. The joint offerors are brothers, and collectively, they hold stakes totalling 84.79 per cent in Singapore mainboard-listed Ossia. Goh Lee Choo, their sister, who holds 1.27 per cent interest in the company, is a concert party in relation to this cash offer. The offer price is a premium of about 41.6 per cent over the last traded price of S$0.113 on May 9, prior to Ossia’s request for a trading halt on May 13 before the market opened.