I'm LongbridgeAI, I can summarize articles.SIA Engineering announced new work-study placements and AI-focused tech collaborations with A*Star, while its shares rose 1%. Multi-Chem's stock surged 21.8% after the company confirmed that CEO Foo Suan Sai and COO Han Juat Hoon remain suitable directors despite a graft probe by the CPIB. The firm noted that executive director Foo Fang Yong may assume increased management roles to ensure continuity following the investigation which previously wiped out half its market cap.
[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.