Weekly | BN4 Achieves Strong Nine-Month Performance & Exceeds Monetization Target

As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,061.85 points, down 0.48% points last week.

During the last 5 trading days, $Keppel Corp(BN4.SI)$, $IFAST(AIY.SI)$, $HPL(H15.SI)$, $TJ DaRenTang(T14.SI)$ and $CapLand Ascott T(HMN.SI)$ are the top 5 weekly gainers, up 18.29%, 13.08%, 7.26%, 6.78% and 5.71% respectively.

$YZJ Fin Hldg(YF8.SI)$, $Olam Group(VC2.SI)$, $HongkongLand USD(H78.SI)$, $TheHourGlass(AGS.SI)$ and $StarhillGbl Reit(P40U.SI)$ are top 5 decliners of SGX stocks which market capital above S$1 Bln.

Below are key analyses of the TOP 5 gainers:

1. $Keppel Corp(BN4.SI)$

• The company posted higher nine-month revenue and net profit, boosted by strong performance in its integrated power business and operational improvements in its infrastructure and connectivity segments.

• The company announced that it has exceeded its three-year monetisation target of S$3 billion, having unlocked about S$3.7 billion from asset monetisation since October 2020.

• The company appointed Kevin Chng as its new chief financial officer (CFO), effective Jan. 1, 2024. Chng is currently the deputy CFO and is actively involved in the company’s restructuring plan.

2. $IFAST(AIY.SI)$

• The company reported a 308.4% year-on-year increase in its net profit to S$8.5 million for the third quarter of 2023, driven by higher revenue from its B2C and B2B segments and lower operating expenses.

• The company announced that it has secured a digital wholesale bank licence in Singapore, which will allow it to offer banking products and services to small and medium-sized enterprises (SMEs) and non-retail segments.

• The company declared an interim dividend of 0.75 cents per share for the third quarter of 2023, up from 0.65 cents per share in the previous quarter.

3. $HPL(H15.SI)$

• The company declared an interim dividend of 0.75 cents per share for the third quarter of 2023, up from 0.65 cents per share in the previous quarter.

• The company reported a 308.4% year-on-year increase in its net profit to S$8.5 million for the third quarter of 2023, driven by higher revenue from its consumer services and hotels segments and lower operating expenses.

• The company announced that it has secured a digital wholesale bank licence in Singapore, which will allow it to offer banking products and services to small and medium-sized enterprises (SMEs) and non-retail segments.

4. $TJ DaRenTang(T14.SI)$

• The company announced a dividend of S$0.1577 per share for the first half of 2023, up from S$0.1429 per share in the same period of 2022.

• The company reported a 15.6% year-on-year increase in its revenue to RMB 4.67 billion for the first half of 2023, driven by higher sales of its Chinese medicine and healthcare products segments.

• The company reported a 10.8% year-on-year increase in its net profit to RMB 361.8 million for the first half of 2023, mainly due to lower operating expenses and income tax expenses.

5. $CapLand Ascott T(HMN.SI)$

• The company declared an interim dividend of 0.75 cents per share for the third quarter of 2023, up from 0.65 cents per share in the previous quarter.

• The company reported a 308.4% year-on-year increase in its net profit to S$8.5 million for the third quarter of 2023, driven by higher revenue from its consumer services and hotels segments and lower operating expenses.

• The company announced that it has secured a digital wholesale bank licence in Singapore, which will allow it to offer banking products and services to small and medium-sized enterprises (SMEs) and non-retail segments.