Stocks to watch: SIA Engineering, Tuas, Multi-Chem

SIA Engineering, a joint venture between Singapore Aero Engineering Services Private Limited and Rolls Royce, announced plans to offer 30 work-study diploma placements in 2027 to students from Institute of Technical Education, Republic Polytechnic and Temasek Polytechnic. Furthermore, SIA Engineering is collaborating with A*Star to develop and deploy advanced technologies like artificial intelligence-native and autonomous inspection, assembly, and disassembly solutions in the aerospace maintenance, repair, and overhaul sector. The company's shares saw a 1% increase, closing at S$3.13 on Tuesday.

Multi-Chem, on the other hand, is facing scrutiny from the Corrupt Practices Investigation Bureau over the investigation into its chief executive Foo Suan Sai and chief operating officer Han Juat Hoon. The stock exchange has requested more information regarding the probe, to which Multi-Chem responded by stating that their nominating committee, with Foo recusing himself, has decided that Foo and Han are suitable to continue as directors.

If necessary, executive director and general manager Foo Fang Yong can take on an increased management role to ensure continuity. The investigation had previously wiped out S$200 million, or roughly half of the company's market capitalisation. Multi-Chem shares rose 21.8% to close at S$0.43 higher, at S$2.40 on Tuesday.

Australian-listed Tuas Limited, the parent company of Simba Telecom, reported a substantial increase in net profit for the year ending July 31. Net profit rose to S$26 million, a 277% increase from about S$6.9 million the previous year. Revenue also increased by 24%, reaching S$187.6 million, compared to S$151.3 million in the prior financial year.

The board has not yet decided on the use of approximately S$364.5 million raised to support the failed acquisition of M1. Tuas shares on the Australian Stock Exchange closed 0.9% higher, at A$2.33 on Tuesday.