Stocks to watch: SIA, Far East Orchard
I'm LongbridgeAI, I can summarize articles.Singapore Airlines defended its Air India investment ahead of its AGM, citing growth opportunities beyond a single-hub model. Meanwhile, the Singapore Court of Appeal ruled that an equitable rescission claim against Far East Orchard's associate, FEOpus, will proceed to trial. Far East Orchard stated its financial exposure is limited to a non-material level due to its 20% effective interest.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jul 20):
Singapore Airlines (SIA) : The national carrier has defended its investment in Air India on Friday, in a response to the Securities Investors Association (Singapore), before the company’s annual general meeting on Jul 24. SIA said the move allows the group to access growth opportunities which cannot be fully realised via a single hub model, where flights connect only through one airport. Shares of SIA ended Friday 0.5 per cent or S$0.04 higher at S$7.65 before the news.
Far East Orchard : The Singapore Court of Appeal on Friday ruled that an equitable rescission claim against Far East Orchard’s associated company, FEOpus, will proceed to trial. While the six remaining claimants are seeking the return of over S$20.2 million or alternative damages, Far East Orchard on Monday said that its 20 per cent effective interest limits its financial exposure to a non-material level. This follows the initial June 2024 announcement, where FEOpus was originally served with claims by 13 unit owners regarding the SBF Center commercial development.