THE following companies saw new developments that may affect trading of their securities on Thursday (Mar 6).
Mandarin Oriental International: The hotelier posted an underlying profit of US$74.7 million for the financial year 2024, down US$81 million from a year earlier. This translates to a full-year underlying loss of 8 per cent. The group attributed the loss to lower one-off residences branding fees, which more than offset the strong growth in recurring hotel management fee income. Loss per share was US$0.0622, compared with US$0.2891 the year before. A dividend of US$0.05 per share was declared, the same as the previous year. The counter closed flat at US$1.82 on Wednesday, before the financial results.
Sats: The ground handler will invest S$100 million over the next two years to upgrade terminals in the Changi Airfreight Centre as part of plans to improve Singapore’s air cargo hub, said Transport Minister Chee Hong Tat at his ministry’s Committee of Supply debate on Wednesday. This is separate from Budget 2025’s S$5 billion top-up for the Changi Airport Development Fund. The upgrades are set to raise cargo handling capacity by 30 per cent to three million tonnes a year. Shares of Sats closed on Wednesday 0.3 per cent or S$0.01 lower at S$3.07.
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