UMS shares up 8.2% on Q2 results as AEM gives up early gains; Frencken declines
UMS posts 89% higher second-quarter profit, but AEM shares reverse 5.1% gains and join Frencken in retreat
UMS Integration's shares surged 8.2% on Friday after it reported an 89% surge in second-quarter net profit. The company's revenue for the three months rose 29% to S$87.1 million. CEO Andy Luong attributed the improvement to the strong artificial intelligence 'super-cycle' and sustained aviation boom worldwide. However, Frencken, a manufacturer of high-precision components, modules and complete sub-systems for multinational companies, saw its shares fall as much as 7.2% following a 3.4% drop in first-half net profit.
Meanwhile, AEM reversed an initial climb, rising 5.1% the day before but ending the day down 1.9% at S$10.77. The positive macroeconomic backdrop in Singapore, including an upgraded 2026 economic growth forecast, contributed to the favorable market sentiment.
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