Stocks to watch: ST Engineering, Olam, Yangzijiang Financial, Stoneweg Europe Stapled Trust

The following companies saw new developments that may affect trading of their securities on Friday (Sep 5):

ST Engineering: Over the next five years, the company will invest S$250 million into a programme to drive physical artificial intelligence (AI) applications such as robotics. The programme aims to improve physical AI, which is capable of interacting with and understanding physical space through sensors to tackle complex operational challenges. Under the programme, ST Engineering will equip its workforce with the necessary AI skills, it said at the InnoTech Conference on Thursday. Shares of ST Engineering closed on Thursday at S$7.95, up S$0.07 or 0.9 per cent.

Olam Group, Yangzijiang Financial: Following theStraits Times Index’s (STI) latest quarterly review, food and agricultural giant Olam Group and investment management company Yangzijiang Financial will be added to the STI reserve list. They replace hospitality player CapitaLand Ascott Trust and transport operator ComfortDelGro. Olam shares fell S$0.01, or 1 per cent, to close at S$1 on Thursday. The shares of Yangzijiang Financial closed at S$1.05, down S$0.02 or 1.9 per cent.

Stoneweg Europe Stapled Trust: The managers announced on Friday that the stapled group’s indirectly owned subsidiary Yova Haagse Poort entered into a new secured green-development loan for an aggregate amount of 50 million euros (S$75.1 million). The loan has a term of five years and will fund primarily the major redevelopment and upgrade of Haagse Poort, the group’s largest asset in The Hague in the Netherlands. The group’s stapled securities closed at 1.56 euros on Thursday, up 0.01 euro or 0.7 per cent.

Trading halt: Niks Professional called for a trading halt on Friday morning, pending the release of an announcement. Its shares closed flat on Thursday at S$0.192.

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