Stocks to watch: SIA Engineering, Boustead
I'm LongbridgeAI, I can summarize articles.SIA Engineering signed an MoU with Air India to collaborate on MRO services in India, while its unit Boustead Medical Care acquired a 60% stake in a urology robotics firm for S$6 million. Both companies saw share price increases prior to these announcements.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jul 6):
SIA Engineering : The group on Friday announced that it signed a memorandum of understanding with Air India to explore opportunities to collaborate in maintenance, repair and overhaul (MRO) aspects. It will leverage SIA Engineering’s MRO and technical expertise, as well as Air India’s airline operations network, to jointly develop a world-class MRO ecosystem in India as part of the venture. Shares of SIA Engineering rose 0.3 per cent to close S$0.01 higher at S$3.47 on Friday before the news.
Boustead : Its unit Boustead Medical Care Holdings on Friday acquired a 60 per cent stake in a urology robotics company through a S$6 million equity injection. Boustead said the investment will expand its healthcare technology portfolio into “the rapidly growing precision urology and oncology field, (while positioning) the group to capitalise on emerging trends in artificial intelligence-driven technology”. Boustead shares rose 2.5 per cent to close S$0.05 higher at S$2.09 on Friday, before the announcement.