SATS Jumps 2% as S$100M Upgrade to Boost Changi Airfreight Capacity by 30%
Singapore's Transport Minister Chee Hong Tat announced on Wednesday during the Ministry of Transport's Committee of Supply debate that, as part of efforts to enhance Singapore's air cargo hub, the ground service provider will invest S$100 million over the next two years to upgrade the terminal at Changi Airfreight Centre.
This investment is separate from the S$5 billion top-up to the Changi Airport Development Fund outlined in the 2025 Budget.
The upgrades are expected to increase cargo handling capacity by 30%, reaching 3 million tons annually.
Meanwhile, SATS jumps 2% at 13:30 am, Mar 6th.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10