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Shares in aircraft maintenance provider SIA Engineering (S59.SG) have skidded 5% this week, but that could be a buying opportunity. SIA, which is majority owned by Singapore Airlines, traded about 1% lower still in Singapore Wednesday morning after dropping a disappointing set of first quarter numbers. Recurring profit slipped 5% year-on-year – below analyst forecasts – while profit contribution from SIA’s engine repair unit cratered by more than 40%.
While the conglomerate's 2017 guidance was painful, analysts suggest that it had to be done.
United Technologies and Caterpillar reported better-than-expected Q2 results before the opening bell on Tuesday.