Stocks to watch: OCBC, Singapore Airlines, Raffles Medical, AEM Holdings

The following companies saw new developments that may affect trading of their securities on Monday (Jul 28):

OCBC: OCBC subsidiary Great Eastern Holdings posted an 11 per cent decline in net profit to S$248.2 million for its second quarter ended Jun 30, from S$280.4 million in the previous corresponding period. For the six months ended June, its net profit inched up 1 per cent to S$593.7 million from S$587.1 million. H1 earnings per share rose 1 per cent to S$1.25 million, from S$1.24 million previously. Shares of Great Eastern have been suspended since July 2024. OCBC’s shares closed 0.52 per cent or S$0.090 lower at S$17.18 on Friday (Jul 25).

Singapore Airlines: Chairman Peter Seah was redesignated as a non-independent director at the company’s annual general meeting on Friday. First appointed to the board in 2015, he assumed the chairman role in 2017. An independent director of a listed company is redesignated if he or she has served for an aggregate period of over nine years. Additionally, SIA Group posted a record full-year net profit of S$2.8 billion for FY2025. This was chiefly due to the one-off non-cash accounting gain of S$1.1 billion from the merger between India’s Vistara, in which SIA held a 49 per cent stake, and Air India. The counter rose 0.3 per cent or S$0.02 to close on Friday at S$7.57.

Raffles Medical: The healthcare group on Monday posted a net profit of S$32.1 million for its first half ended Jun 30, up 4.8 per cent from S$30.6 million in the same period a year prior. Revenue increased 3.5 per cent year on year to S$378.4 million in H1 FY2025, from S$365.7 million in H1 FY2024. Earnings per share for the period were S$0.0173, up from S$0.0165 in the corresponding period a year before. No interim dividend was declared by the mainboard-listed group. The counter ended Friday 1.9 per cent or S$0.02 higher at S$1.05.

AEM Holdings: CEO Amy Leong resigned from the semiconductor testing equipment manufacturer effective Sunday. She had held her post for slightly over a year and will be replaced by group president and chief technology officer Samer Kabbani, who has been with AEM since 2020. AEM cited “board-led leadership realignment for growth” for her resignation in an SGX filing. Leong will continue as a senior adviser to AEM, the company said in a news release on Sunday. The counter rose S$0.03 or 1.8 per cent to close at S$1.72 on Friday.

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