Market Snapshot
Singapore stocks opened higher on Friday. STI up 0.7%; Singtel and OCBC up 4%; Genting Sing up 1%; ST Engineering, Nio and SGX down 1%.
Stocks in Focus
OCBC : The lender reported a flat third-quarter net profit of S$1.98 billion on Friday, beating a S$1.79 billion consensus forecast in a Bloomberg survey of five analysts. Net interest income for the quarter was meanwhile down 9 per cent at S$2.23 billion. Its non-performing loans ratio was 0.9 per cent, unchanged from the same period a year earlier. Shares of OCBC rose 0.8 per cent or S$0.13 to close at S$17.19 on Thursday.
Singtel : Pastel, a unit of the telecommunications company, on Thursday offered to sell shares in Indian mobile carrier Bharti Airtel in a deal worth as much as US$1.2 billion. The transaction will occur on local bourses on Friday, with the settlement expected on Nov 10. The telco and KKR & Co are also reportedly in advanced talks to fully own ST Telemedia Global Data Centres for over US$3.9 billion. Shares of Singtel rose 5.4 per cent or S$0.23 to close at S$4.50 on Thursday.
CapitaLand Investment (CLI) : The asset manager on Thursday reported a 25.5 per cent fall in total revenue to about S$1.6 billion for the first nine months of 2025, from S$2.1 billion in the year-ago period. This was on the back of the deconsolidation of lodging trust CapitaLand Ascott Trust. Shares of CLI closed flat at S$2.65 on Thursday, before the results.
Genting Singapore : The company on Thursday posted a 19 per cent year-on-year increase in net profit to S$94.6 million for the third quarter. Improved VIP rolling volume and win rate contributed to a significant rise in its revenue, which rose 16 per cent to S$649.8 million from S$561.9 million in the year-ago period. The counter closed flat at S$0.73 on Thursday, before the announcement.
Yangzijiang Financial : The investment, wealth and fund manager on Thursday said plans to invest one billion yuan (S$183.1 million) in lithium battery producer Ningbo Shanshan’s restructuring will not proceed. This comes after Ningbo Shanshan’s creditors rejected the proposed investment. Yangzijiang Financial’s board does not expect this to have any material adverse impact on the group. The counter rose S$0.01 or 1 per cent higher to close at S$1.06, before the announcement.
Frasers Logistics & Commercial Trust (FLCT) : The manager of FLCT on Friday reported an 11.1 per cent year-on-year drop in distribution per unit to $0.0295 for the second half of FY2025, from S$0.0332. Revenue rose 3.7 per cent to about S$239.2 million, from S$230.6 million in the year-ago period. Net property income jumped 5.7 per cent to S$172.4 million from S$163.1 million. Units of FLCT rose 1.6 per cent or S$0.015 to close at S$0.955 on Thursday.
Far East Orchard : Far East Orchard’s nine-month net profit more than doubled to S$37.6 million, it said on Thursday, up from S$16.9 million in the same period the year before. The sharp increase was largely driven by one-off gains totalling S$24.9 million. Shares of Far East Orchard rose 0.8 per cent or S$0.01 to close at S$1.25, before the announcement.
SG Local News
Singapore ranks second globally in data centre construction costs
Singapore now ranks as the world’s second most expensive market for data centre construction, with average build costs reaching $19 per watt (US$14.5), according to a report from Turner & Townsend.
This marks a 5% YoY increase and places Singapore behind Tokyo but ahead of Silicon Valley.
Singaporeans account for 11% of stolen card data: study
Singaporeans are the second-most affected globally by payment card scammers, with 11% of stolen payment card information belonging to Singaporeans, according to a study by NordVPN.
Globally, based on volume, 60% of the payment cards with stolen info sold on the dark web belong to US users, followed by Singapore, and Spain (10%).
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