SIA Engineering Company Limited (SIAEC)

In light of the worsening situation, the SIAEC Board has also volunteered a deeper reduction of 25% in fees accruing with effect from Apr 1 in solidarity with its management and staff.

SIA plans to offer a three-for-two rights issue at $3 per share, which is a 53.8% discount off SIA’s last traded price of $6.50. It will also raise up to another $9.7 billion from a 10-year Mandatory Convertible Bonds (MCB).

SIAEC has also offered a voluntary no-pay leave scheme to all staff.

The move will see SIAEC’s existing network of Line Maintenance International stations grow to 46 airports in 9 countries.

SIA Engineering could see a drop in business, similar to the impact seen during the severe acute respiratory syndrome (SARS) outbreak in 2003, analysts warn.

UOB Kay Hian has downgraded the aviation sector to “underweight” as rising fears of the novel coronavirus outbreak have led to numerous flight cancellations and capacity cuts.

SINGAPORE (Dec 26): Capital goods – which are used in producing other goods, rather than being bought by consumers – are on the cusp of a “strong recovery” in earnings growth, market watchers say.

SINGAPORE (Dec 18): Against an outlook that is “turning less cloudy”, DBS Group Research has advised investors to adopt a “barbell approach” to strike a balanced risk-reward.

SINGAPORE (Dec 13): SIA Engineering has inked a 10-year agreement with French aircraft engine manufacturer Safran Aircraft Engines (SAE).

NetLink NBN Trust Price targets: $1.01 BUY (UOB Kay Hian) $1.06 BUY (Maybank Kim Eng Research) $0.99 ACCUMULATE (Phillip Securities) $1.04 BUY (DBS Group Research) $1.03 BUY (OCBC Investment Research) All five research reports sig