Stocks to watch: SIA Engineering, Multi-Chem

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Sep 23):

SIA Engineering : Singapore Aero Engine Services Private Limited (SAESL), a joint venture between SIA Engineering and Rolls Royce, will offer 30 work-study diploma placements in 2027 to Institute of Technical Education, Republic Polytechnic and Temasek Polytechnic students. Additionally, a SAESL collaboration with A*Star will focus on the development and deployment of advanced technologies including, artificial intelligence-native and autonomous inspection, assembly and disassembly solutions across the aerospace maintenance, repair and overhaul sector. Shares of SIA Engineering rose 1 per cent to close S$0.03 higher at S$3.13 on Tuesday.

Multi-Chem: The stock exchange has asked the company for more details regarding the graft probe into chief executive Foo Suan Sai and chief operating officer Han Juat Hoon. In response, Multi-Chem said on Tuesday night that its nominating committee, with Foo recusing himself, has decided the pair are suitable to continue as directors. The company added that if required, executive director and general manager Foo Fang Yong can assume an increased management role to ensure continuity. News last week of the Corrupt Practices Investigation Bureau’s investigation wiped out S$200 million, or about half of the company’s market capitalisation. Shares of Multi-chem rose 21.8 per cent to close S$0.43 higher at S$2.40 on Tuesday.