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Larry13
2024-12-31
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SG Top Stocks in 2024: Yangzijiang Shipbuilding Soars 116%; DBS Surges 53%; OCBC Jumps 37%
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B Y B B C r v. C C C diff C C B o<a href=\"https://ttm.financial/U/3575926263523659\">@PLT</a> <a href=\"https://ttm.financial/U/3575926263523659\">@PLT</a> C C C C c C C C V C C C in j C<a href=\"https://ttm.financial/U/3569273424887775\">@肯特岗小镇做T家</a> ","listText":" C C C C RV C. B Y B B C r v. C C C diff C C B o<a href=\"https://ttm.financial/U/3575926263523659\">@PLT</a> <a href=\"https://ttm.financial/U/3575926263523659\">@PLT</a> C C C C c C C C V C C C in j C<a href=\"https://ttm.financial/U/3569273424887775\">@肯特岗小镇做T家</a> ","text":"C C C C RV C. B Y B B C r v. C C C diff C C B o@PLT @PLT C C C C c C C C V C C C in j C@肯特岗小镇做T家","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/387414766526760","repostId":"1141760216","repostType":2,"repost":{"id":"1141760216","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings","home_visible":1,"media_name":"TigerNews SG","id":"1050470178","head_image":"https://community-static.tradeup.com/news/f17a9a7b68c877792d5e556261e9e709"},"pubTimestamp":1735623655,"share":"https://ttm.financial/m/news/1141760216?lang=&edition=fundamental","pubTime":"2024-12-31 13:40","market":"sg","language":"en","title":"SG Top Stocks in 2024: Yangzijiang Shipbuilding Soars 116%; DBS Surges 53%; OCBC Jumps 37%","url":"https://stock-news.laohu8.com/highlight/detail?id=1141760216","media":"TigerNews SG","summary":"The Singapore stock market had an extraordinary year. Driven by strong performances in financial and technology stocks, the STI surged 17% in 2024, reaching a new all-time high at one point. Among the","content":"<html><head></head><body><p>The Singapore stock market had an extraordinary year. Driven by strong performances in financial and technology stocks, the STI surged 17% in 2024, reaching a new all-time high at one point. Among the standout performers, Yangzijiang Shipbuilding soared 116%, DBS Group climbed 53%, and OCBC Bank rose 37%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/61a941096936578f0757219702ed4def\" title=\"\" tg-width=\"1500\" tg-height=\"1700\"/></p><h3 id=\"id_3072300079\" style=\"text-align: start;\">Yangzijiang Shipbuilding Soars on A Large Number of Orders and Impressive Performance</h3><p><a href=\"https://laohu8.com/S/BS6.SI\">Yangzijiang Shipbuilding</a> shares soared 116.4% this year, making it one of the best-performing stocks on the Singapore Exchange.</p><p>The Maritime vessel maker said recently that it has secured another US$2.6 billion in shipbuilding contracts, taking its order wins to US$14.3 billion in the year to date. </p><p>The company posted a net profit of 3.1 billion yuan (S$553.7 million) for the six months ended Jun 30, an increase of 77.2 per cent from the year-ago period. This comes as earnings per share for the period rose to 77.42 fen from 43.69 fen the year before.</p><p style=\"text-align: start;\">A bourse filing by the company reported that its revenue had gone up 15.3 per cent to 13 billion yuan, and attributed this to the strong performance of its shipbuilding business, which contributed to 95 per cent of the total revenue.</p><h3 id=\"id_3038231223\">Sinarmas Land Surges Amid Real Estate Market Turmoil</h3><p><a href=\"https://laohu8.com/S/A26.SI\">Sinarmas Land</a> has surged 72.2% this year, remaining unaffected by the turbulence in the real estate market.</p><p>Sinarmas Land posted a 18.7 per cent drop in net profit to S$89 million for its first half ended Jun 30, 2024, from S$109.5 million in the previous corresponding period. Earnings per share stood at 2.09 Singapore cents for the half year, down from 2.57 cents the previous year.</p><p style=\"text-align: start;\">This was mainly due to fair value losses and impairment losses incurred from certain wholly owned subsidiaries, despite a higher profit for the period, the property developer said in a regulatory filing.</p><p>Sinarmas Land sold a wholly-owned subsidiary that owns a freehold commercial property in London for an estimated price of £247.5 million (S$414.2 million).</p><h3 id=\"id_65779639\" style=\"text-align: start;\">Riverstone and Top Glove Jump as Demand for Gloves Recovers</h3><p>Glovemaker<strong> </strong><a href=\"https://laohu8.com/S/AP4.SI\">Riverstone Holdings</a> and <a href=\"https://laohu8.com/S/BVA.SI\">Top Glove</a> jumped 68.5% and 62.8% separately this year as demand for gloves recovers.</p><p>Riverstone Holdings reported a rise of 21.8 per cent in net profit to RM72.2 million (S$21.8 million) for the third quarter of the 2024 financial year, from RM59.3 million in Q3 FY2023.</p><p style=\"text-align: start;\">Top Glove posted a net profit of RM5.5 million (S$1.7 million) for the first fiscal quarter ended November, reversing its net loss of RM57.7 million in the previous corresponding period.</p><h3 id=\"id_2776713083\">Bumitama Agri Jumps on CPO Price Rally</h3><p><a href=\"https://laohu8.com/S/P8Z.SI\">Bumitama Agri</a> shares jumped 58.8% this year on CPO price rallied.</p><p>Bumitama Agri reported a net profit of 597.9 billion rupiah (S$51 million) for the third quarter ended Sep 30, down 31.6 per cent the year prior.</p><p>While RHB’s research team highlighted the group as a “pure planter with inexpensive valuations”.</p><p>RHB Research has upgraded its call on palm oil producer Bumitama Agri to “buy” from “neutral” with a higher target price of S$0.95 from S$0.70 previously.</p><h3 id=\"id_2919346436\">Singapore Bank Stocks Jump with Impressive Performance</h3><p>Singapore bank stocks jumped with impressive performance.</p><p>Shares of <a href=\"https://laohu8.com/S/D05.SI\">DBS</a>, the region’s largest bank, are up 52.6% this year and shares of <a href=\"https://laohu8.com/S/O39.SI\">OCBC</a> and <a href=\"https://laohu8.com/S/U11.SI\">UOB</a> are up 35.3% and 35% respectively. Their shares all enjoyed a record-breaking year.</p><p>“The main driver was that the U.S. Federal Reserve started to cut interest rates more slowly than the market had assumed going into the year, helping the local banks avoid severe narrowing in net interest margins,” analyst says. </p><p style=\"text-align: start;\">The analyst also points to better-than-expected growth in wealth management fees and a surprise share buyback announcement from DBS as reasons for investor optimism.</p><p style=\"text-align: start;\">Singapore’s banking CEOs are also optimistic heading into 2025—even if a second Trump administration could bring some uncertainties.</p><h3 id=\"id_1925695278\" style=\"text-align: start;\">Great Eastern Jumps As OCBC Garners Over 90% Shares</h3><p><a href=\"https://laohu8.com/S/G07.SI\">Great Eastern</a> shares jumped 52.4% this year as OCBC garnered over 90% shares.</p><p>OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, the bank announced on Jun 24. However, no delisting is in sight as the lender’s offer for its insurance subsidiary has been deemed not fair but reasonable.</p><p style=\"text-align: start;\">As the number of Great Eastern shares held by the public has now dipped below the 10 per cent threshold, the counter has been suspended from trading after OCBC’s offer closes on Jul 12.</p><p style=\"text-align: start;\">On May 10, OCBC made a voluntary unconditional general offer of S$1.4 billion for the remaining 11.56 per cent stake in Great Eastern that it did not already own, with the aim to delist its insurance arm.</p><h3 id=\"id_994681813\" style=\"text-align: start;\">Hongkong Land Jump As It Exits the Build-to-Sell Residential Development Business</h3><p><a href=\"https://laohu8.com/S/H78.SI\">Hongkong Land</a> shares jumped 36.9% this year as it exited the build-to-sell residential development business.</p><p>Hongkong Land exited the build-to-sell residential development business as it pivoted towards fund management and focuses on ultra-premium integrated commercial properties in Asia’s gateway cities. </p><p style=\"text-align: start;\">Announcing its new business strategy at the end of October, the 135-year-old listed property group, which is part of the giant Jardine Matheson conglomerate, said this will reinforce its core capabilities, generate growth in long-term recurring income, and deliver superior returns to shareholders. </p><p style=\"text-align: start;\">The group intends to recycle up to US$10 billion in capital by 2035, and grow assets under management from US$40 billion today to up to US$100 billion by then. It expects to double its profit before interest and tax, and double dividends per share in that time. It estimates US$6 billion in proceeds will be generated from the wind-down of the build-to-sell segment, while another US$4 billion will come from the recycling of investment property assets.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SG Top Stocks in 2024: Yangzijiang Shipbuilding Soars 116%; DBS Surges 53%; OCBC Jumps 37%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSG Top Stocks in 2024: Yangzijiang Shipbuilding Soars 116%; DBS Surges 53%; OCBC Jumps 37%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1050470178\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/f17a9a7b68c877792d5e556261e9e709);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">TigerNews SG </p>\n<p class=\"h-time\">2024-12-31 13:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The Singapore stock market had an extraordinary year. Driven by strong performances in financial and technology stocks, the STI surged 17% in 2024, reaching a new all-time high at one point. Among the standout performers, Yangzijiang Shipbuilding soared 116%, DBS Group climbed 53%, and OCBC Bank rose 37%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/61a941096936578f0757219702ed4def\" title=\"\" tg-width=\"1500\" tg-height=\"1700\"/></p><h3 id=\"id_3072300079\" style=\"text-align: start;\">Yangzijiang Shipbuilding Soars on A Large Number of Orders and Impressive Performance</h3><p><a href=\"https://laohu8.com/S/BS6.SI\">Yangzijiang Shipbuilding</a> shares soared 116.4% this year, making it one of the best-performing stocks on the Singapore Exchange.</p><p>The Maritime vessel maker said recently that it has secured another US$2.6 billion in shipbuilding contracts, taking its order wins to US$14.3 billion in the year to date. </p><p>The company posted a net profit of 3.1 billion yuan (S$553.7 million) for the six months ended Jun 30, an increase of 77.2 per cent from the year-ago period. This comes as earnings per share for the period rose to 77.42 fen from 43.69 fen the year before.</p><p style=\"text-align: start;\">A bourse filing by the company reported that its revenue had gone up 15.3 per cent to 13 billion yuan, and attributed this to the strong performance of its shipbuilding business, which contributed to 95 per cent of the total revenue.</p><h3 id=\"id_3038231223\">Sinarmas Land Surges Amid Real Estate Market Turmoil</h3><p><a href=\"https://laohu8.com/S/A26.SI\">Sinarmas Land</a> has surged 72.2% this year, remaining unaffected by the turbulence in the real estate market.</p><p>Sinarmas Land posted a 18.7 per cent drop in net profit to S$89 million for its first half ended Jun 30, 2024, from S$109.5 million in the previous corresponding period. Earnings per share stood at 2.09 Singapore cents for the half year, down from 2.57 cents the previous year.</p><p style=\"text-align: start;\">This was mainly due to fair value losses and impairment losses incurred from certain wholly owned subsidiaries, despite a higher profit for the period, the property developer said in a regulatory filing.</p><p>Sinarmas Land sold a wholly-owned subsidiary that owns a freehold commercial property in London for an estimated price of £247.5 million (S$414.2 million).</p><h3 id=\"id_65779639\" style=\"text-align: start;\">Riverstone and Top Glove Jump as Demand for Gloves Recovers</h3><p>Glovemaker<strong> </strong><a href=\"https://laohu8.com/S/AP4.SI\">Riverstone Holdings</a> and <a href=\"https://laohu8.com/S/BVA.SI\">Top Glove</a> jumped 68.5% and 62.8% separately this year as demand for gloves recovers.</p><p>Riverstone Holdings reported a rise of 21.8 per cent in net profit to RM72.2 million (S$21.8 million) for the third quarter of the 2024 financial year, from RM59.3 million in Q3 FY2023.</p><p style=\"text-align: start;\">Top Glove posted a net profit of RM5.5 million (S$1.7 million) for the first fiscal quarter ended November, reversing its net loss of RM57.7 million in the previous corresponding period.</p><h3 id=\"id_2776713083\">Bumitama Agri Jumps on CPO Price Rally</h3><p><a href=\"https://laohu8.com/S/P8Z.SI\">Bumitama Agri</a> shares jumped 58.8% this year on CPO price rallied.</p><p>Bumitama Agri reported a net profit of 597.9 billion rupiah (S$51 million) for the third quarter ended Sep 30, down 31.6 per cent the year prior.</p><p>While RHB’s research team highlighted the group as a “pure planter with inexpensive valuations”.</p><p>RHB Research has upgraded its call on palm oil producer Bumitama Agri to “buy” from “neutral” with a higher target price of S$0.95 from S$0.70 previously.</p><h3 id=\"id_2919346436\">Singapore Bank Stocks Jump with Impressive Performance</h3><p>Singapore bank stocks jumped with impressive performance.</p><p>Shares of <a href=\"https://laohu8.com/S/D05.SI\">DBS</a>, the region’s largest bank, are up 52.6% this year and shares of <a href=\"https://laohu8.com/S/O39.SI\">OCBC</a> and <a href=\"https://laohu8.com/S/U11.SI\">UOB</a> are up 35.3% and 35% respectively. Their shares all enjoyed a record-breaking year.</p><p>“The main driver was that the U.S. Federal Reserve started to cut interest rates more slowly than the market had assumed going into the year, helping the local banks avoid severe narrowing in net interest margins,” analyst says. </p><p style=\"text-align: start;\">The analyst also points to better-than-expected growth in wealth management fees and a surprise share buyback announcement from DBS as reasons for investor optimism.</p><p style=\"text-align: start;\">Singapore’s banking CEOs are also optimistic heading into 2025—even if a second Trump administration could bring some uncertainties.</p><h3 id=\"id_1925695278\" style=\"text-align: start;\">Great Eastern Jumps As OCBC Garners Over 90% Shares</h3><p><a href=\"https://laohu8.com/S/G07.SI\">Great Eastern</a> shares jumped 52.4% this year as OCBC garnered over 90% shares.</p><p>OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, the bank announced on Jun 24. However, no delisting is in sight as the lender’s offer for its insurance subsidiary has been deemed not fair but reasonable.</p><p style=\"text-align: start;\">As the number of Great Eastern shares held by the public has now dipped below the 10 per cent threshold, the counter has been suspended from trading after OCBC’s offer closes on Jul 12.</p><p style=\"text-align: start;\">On May 10, OCBC made a voluntary unconditional general offer of S$1.4 billion for the remaining 11.56 per cent stake in Great Eastern that it did not already own, with the aim to delist its insurance arm.</p><h3 id=\"id_994681813\" style=\"text-align: start;\">Hongkong Land Jump As It Exits the Build-to-Sell Residential Development Business</h3><p><a href=\"https://laohu8.com/S/H78.SI\">Hongkong Land</a> shares jumped 36.9% this year as it exited the build-to-sell residential development business.</p><p>Hongkong Land exited the build-to-sell residential development business as it pivoted towards fund management and focuses on ultra-premium integrated commercial properties in Asia’s gateway cities. </p><p style=\"text-align: start;\">Announcing its new business strategy at the end of October, the 135-year-old listed property group, which is part of the giant Jardine Matheson conglomerate, said this will reinforce its core capabilities, generate growth in long-term recurring income, and deliver superior returns to shareholders. </p><p style=\"text-align: start;\">The group intends to recycle up to US$10 billion in capital by 2035, and grow assets under management from US$40 billion today to up to US$100 billion by then. It expects to double its profit before interest and tax, and double dividends per share in that time. It estimates US$6 billion in proceeds will be generated from the wind-down of the build-to-sell segment, while another US$4 billion will come from the recycling of investment property assets.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"G07.SI":"大东方控股","P8Z.SI":"布米达马农业","A26.SI":"金光置地","D05.SI":"星展集团控股","STI.SI":"富时新加坡海峡指数","AP4.SI":"立合斯顿","U11.SI":"大华银行","O39.SI":"华侨银行","BVA.SI":"顶级手套有限公司","H78.SI":"置地控股有限公司","BS6.SI":"扬子江船业"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141760216","content_text":"The Singapore stock market had an extraordinary year. Driven by strong performances in financial and technology stocks, the STI surged 17% in 2024, reaching a new all-time high at one point. Among the standout performers, Yangzijiang Shipbuilding soared 116%, DBS Group climbed 53%, and OCBC Bank rose 37%.Yangzijiang Shipbuilding Soars on A Large Number of Orders and Impressive PerformanceYangzijiang Shipbuilding shares soared 116.4% this year, making it one of the best-performing stocks on the Singapore Exchange.The Maritime vessel maker said recently that it has secured another US$2.6 billion in shipbuilding contracts, taking its order wins to US$14.3 billion in the year to date. The company posted a net profit of 3.1 billion yuan (S$553.7 million) for the six months ended Jun 30, an increase of 77.2 per cent from the year-ago period. This comes as earnings per share for the period rose to 77.42 fen from 43.69 fen the year before.A bourse filing by the company reported that its revenue had gone up 15.3 per cent to 13 billion yuan, and attributed this to the strong performance of its shipbuilding business, which contributed to 95 per cent of the total revenue.Sinarmas Land Surges Amid Real Estate Market TurmoilSinarmas Land has surged 72.2% this year, remaining unaffected by the turbulence in the real estate market.Sinarmas Land posted a 18.7 per cent drop in net profit to S$89 million for its first half ended Jun 30, 2024, from S$109.5 million in the previous corresponding period. Earnings per share stood at 2.09 Singapore cents for the half year, down from 2.57 cents the previous year.This was mainly due to fair value losses and impairment losses incurred from certain wholly owned subsidiaries, despite a higher profit for the period, the property developer said in a regulatory filing.Sinarmas Land sold a wholly-owned subsidiary that owns a freehold commercial property in London for an estimated price of £247.5 million (S$414.2 million).Riverstone and Top Glove Jump as Demand for Gloves RecoversGlovemaker Riverstone Holdings and Top Glove jumped 68.5% and 62.8% separately this year as demand for gloves recovers.Riverstone Holdings reported a rise of 21.8 per cent in net profit to RM72.2 million (S$21.8 million) for the third quarter of the 2024 financial year, from RM59.3 million in Q3 FY2023.Top Glove posted a net profit of RM5.5 million (S$1.7 million) for the first fiscal quarter ended November, reversing its net loss of RM57.7 million in the previous corresponding period.Bumitama Agri Jumps on CPO Price RallyBumitama Agri shares jumped 58.8% this year on CPO price rallied.Bumitama Agri reported a net profit of 597.9 billion rupiah (S$51 million) for the third quarter ended Sep 30, down 31.6 per cent the year prior.While RHB’s research team highlighted the group as a “pure planter with inexpensive valuations”.RHB Research has upgraded its call on palm oil producer Bumitama Agri to “buy” from “neutral” with a higher target price of S$0.95 from S$0.70 previously.Singapore Bank Stocks Jump with Impressive PerformanceSingapore bank stocks jumped with impressive performance.Shares of DBS, the region’s largest bank, are up 52.6% this year and shares of OCBC and UOB are up 35.3% and 35% respectively. Their shares all enjoyed a record-breaking year.“The main driver was that the U.S. Federal Reserve started to cut interest rates more slowly than the market had assumed going into the year, helping the local banks avoid severe narrowing in net interest margins,” analyst says. The analyst also points to better-than-expected growth in wealth management fees and a surprise share buyback announcement from DBS as reasons for investor optimism.Singapore’s banking CEOs are also optimistic heading into 2025—even if a second Trump administration could bring some uncertainties.Great Eastern Jumps As OCBC Garners Over 90% SharesGreat Eastern shares jumped 52.4% this year as OCBC garnered over 90% shares.OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, the bank announced on Jun 24. However, no delisting is in sight as the lender’s offer for its insurance subsidiary has been deemed not fair but reasonable.As the number of Great Eastern shares held by the public has now dipped below the 10 per cent threshold, the counter has been suspended from trading after OCBC’s offer closes on Jul 12.On May 10, OCBC made a voluntary unconditional general offer of S$1.4 billion for the remaining 11.56 per cent stake in Great Eastern that it did not already own, with the aim to delist its insurance arm.Hongkong Land Jump As It Exits the Build-to-Sell Residential Development BusinessHongkong Land shares jumped 36.9% this year as it exited the build-to-sell residential development business.Hongkong Land exited the build-to-sell residential development business as it pivoted towards fund management and focuses on ultra-premium integrated commercial properties in Asia’s gateway cities. Announcing its new business strategy at the end of October, the 135-year-old listed property group, which is part of the giant Jardine Matheson conglomerate, said this will reinforce its core capabilities, generate growth in long-term recurring income, and deliver superior returns to shareholders. The group intends to recycle up to US$10 billion in capital by 2035, and grow assets under management from US$40 billion today to up to US$100 billion by then. It expects to double its profit before interest and tax, and double dividends per share in that time. It estimates US$6 billion in proceeds will be generated from the wind-down of the build-to-sell segment, while another US$4 billion will come from the recycling of investment property assets.","news_type":1},"isVote":1,"tweetType":1,"viewCount":49,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":387414766526760,"gmtCreate":1735625187078,"gmtModify":1735625430122,"author":{"id":"3579163810092530","authorId":"3579163810092530","name":"Larry13","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579163810092530","idStr":"3579163810092530"},"themes":[],"htmlText":" C C C C RV C. B Y B B C r v. 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C C C diff C C B o@PLT @PLT C C C C c C C C V C C C in j C@肯特岗小镇做T家","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/387414766526760","repostId":"1141760216","repostType":2,"repost":{"id":"1141760216","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings","home_visible":1,"media_name":"TigerNews SG","id":"1050470178","head_image":"https://community-static.tradeup.com/news/f17a9a7b68c877792d5e556261e9e709"},"pubTimestamp":1735623655,"share":"https://ttm.financial/m/news/1141760216?lang=&edition=fundamental","pubTime":"2024-12-31 13:40","market":"sg","language":"en","title":"SG Top Stocks in 2024: Yangzijiang Shipbuilding Soars 116%; DBS Surges 53%; OCBC Jumps 37%","url":"https://stock-news.laohu8.com/highlight/detail?id=1141760216","media":"TigerNews SG","summary":"The Singapore stock market had an extraordinary year. Driven by strong performances in financial and technology stocks, the STI surged 17% in 2024, reaching a new all-time high at one point. Among the","content":"<html><head></head><body><p>The Singapore stock market had an extraordinary year. Driven by strong performances in financial and technology stocks, the STI surged 17% in 2024, reaching a new all-time high at one point. Among the standout performers, Yangzijiang Shipbuilding soared 116%, DBS Group climbed 53%, and OCBC Bank rose 37%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/61a941096936578f0757219702ed4def\" title=\"\" tg-width=\"1500\" tg-height=\"1700\"/></p><h3 id=\"id_3072300079\" style=\"text-align: start;\">Yangzijiang Shipbuilding Soars on A Large Number of Orders and Impressive Performance</h3><p><a href=\"https://laohu8.com/S/BS6.SI\">Yangzijiang Shipbuilding</a> shares soared 116.4% this year, making it one of the best-performing stocks on the Singapore Exchange.</p><p>The Maritime vessel maker said recently that it has secured another US$2.6 billion in shipbuilding contracts, taking its order wins to US$14.3 billion in the year to date. </p><p>The company posted a net profit of 3.1 billion yuan (S$553.7 million) for the six months ended Jun 30, an increase of 77.2 per cent from the year-ago period. This comes as earnings per share for the period rose to 77.42 fen from 43.69 fen the year before.</p><p style=\"text-align: start;\">A bourse filing by the company reported that its revenue had gone up 15.3 per cent to 13 billion yuan, and attributed this to the strong performance of its shipbuilding business, which contributed to 95 per cent of the total revenue.</p><h3 id=\"id_3038231223\">Sinarmas Land Surges Amid Real Estate Market Turmoil</h3><p><a href=\"https://laohu8.com/S/A26.SI\">Sinarmas Land</a> has surged 72.2% this year, remaining unaffected by the turbulence in the real estate market.</p><p>Sinarmas Land posted a 18.7 per cent drop in net profit to S$89 million for its first half ended Jun 30, 2024, from S$109.5 million in the previous corresponding period. Earnings per share stood at 2.09 Singapore cents for the half year, down from 2.57 cents the previous year.</p><p style=\"text-align: start;\">This was mainly due to fair value losses and impairment losses incurred from certain wholly owned subsidiaries, despite a higher profit for the period, the property developer said in a regulatory filing.</p><p>Sinarmas Land sold a wholly-owned subsidiary that owns a freehold commercial property in London for an estimated price of £247.5 million (S$414.2 million).</p><h3 id=\"id_65779639\" style=\"text-align: start;\">Riverstone and Top Glove Jump as Demand for Gloves Recovers</h3><p>Glovemaker<strong> </strong><a href=\"https://laohu8.com/S/AP4.SI\">Riverstone Holdings</a> and <a href=\"https://laohu8.com/S/BVA.SI\">Top Glove</a> jumped 68.5% and 62.8% separately this year as demand for gloves recovers.</p><p>Riverstone Holdings reported a rise of 21.8 per cent in net profit to RM72.2 million (S$21.8 million) for the third quarter of the 2024 financial year, from RM59.3 million in Q3 FY2023.</p><p style=\"text-align: start;\">Top Glove posted a net profit of RM5.5 million (S$1.7 million) for the first fiscal quarter ended November, reversing its net loss of RM57.7 million in the previous corresponding period.</p><h3 id=\"id_2776713083\">Bumitama Agri Jumps on CPO Price Rally</h3><p><a href=\"https://laohu8.com/S/P8Z.SI\">Bumitama Agri</a> shares jumped 58.8% this year on CPO price rallied.</p><p>Bumitama Agri reported a net profit of 597.9 billion rupiah (S$51 million) for the third quarter ended Sep 30, down 31.6 per cent the year prior.</p><p>While RHB’s research team highlighted the group as a “pure planter with inexpensive valuations”.</p><p>RHB Research has upgraded its call on palm oil producer Bumitama Agri to “buy” from “neutral” with a higher target price of S$0.95 from S$0.70 previously.</p><h3 id=\"id_2919346436\">Singapore Bank Stocks Jump with Impressive Performance</h3><p>Singapore bank stocks jumped with impressive performance.</p><p>Shares of <a href=\"https://laohu8.com/S/D05.SI\">DBS</a>, the region’s largest bank, are up 52.6% this year and shares of <a href=\"https://laohu8.com/S/O39.SI\">OCBC</a> and <a href=\"https://laohu8.com/S/U11.SI\">UOB</a> are up 35.3% and 35% respectively. Their shares all enjoyed a record-breaking year.</p><p>“The main driver was that the U.S. Federal Reserve started to cut interest rates more slowly than the market had assumed going into the year, helping the local banks avoid severe narrowing in net interest margins,” analyst says. </p><p style=\"text-align: start;\">The analyst also points to better-than-expected growth in wealth management fees and a surprise share buyback announcement from DBS as reasons for investor optimism.</p><p style=\"text-align: start;\">Singapore’s banking CEOs are also optimistic heading into 2025—even if a second Trump administration could bring some uncertainties.</p><h3 id=\"id_1925695278\" style=\"text-align: start;\">Great Eastern Jumps As OCBC Garners Over 90% Shares</h3><p><a href=\"https://laohu8.com/S/G07.SI\">Great Eastern</a> shares jumped 52.4% this year as OCBC garnered over 90% shares.</p><p>OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, the bank announced on Jun 24. However, no delisting is in sight as the lender’s offer for its insurance subsidiary has been deemed not fair but reasonable.</p><p style=\"text-align: start;\">As the number of Great Eastern shares held by the public has now dipped below the 10 per cent threshold, the counter has been suspended from trading after OCBC’s offer closes on Jul 12.</p><p style=\"text-align: start;\">On May 10, OCBC made a voluntary unconditional general offer of S$1.4 billion for the remaining 11.56 per cent stake in Great Eastern that it did not already own, with the aim to delist its insurance arm.</p><h3 id=\"id_994681813\" style=\"text-align: start;\">Hongkong Land Jump As It Exits the Build-to-Sell Residential Development Business</h3><p><a href=\"https://laohu8.com/S/H78.SI\">Hongkong Land</a> shares jumped 36.9% this year as it exited the build-to-sell residential development business.</p><p>Hongkong Land exited the build-to-sell residential development business as it pivoted towards fund management and focuses on ultra-premium integrated commercial properties in Asia’s gateway cities. </p><p style=\"text-align: start;\">Announcing its new business strategy at the end of October, the 135-year-old listed property group, which is part of the giant Jardine Matheson conglomerate, said this will reinforce its core capabilities, generate growth in long-term recurring income, and deliver superior returns to shareholders. </p><p style=\"text-align: start;\">The group intends to recycle up to US$10 billion in capital by 2035, and grow assets under management from US$40 billion today to up to US$100 billion by then. It expects to double its profit before interest and tax, and double dividends per share in that time. It estimates US$6 billion in proceeds will be generated from the wind-down of the build-to-sell segment, while another US$4 billion will come from the recycling of investment property assets.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SG Top Stocks in 2024: Yangzijiang Shipbuilding Soars 116%; DBS Surges 53%; OCBC Jumps 37%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSG Top Stocks in 2024: Yangzijiang Shipbuilding Soars 116%; DBS Surges 53%; OCBC Jumps 37%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1050470178\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/f17a9a7b68c877792d5e556261e9e709);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">TigerNews SG </p>\n<p class=\"h-time\">2024-12-31 13:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The Singapore stock market had an extraordinary year. Driven by strong performances in financial and technology stocks, the STI surged 17% in 2024, reaching a new all-time high at one point. Among the standout performers, Yangzijiang Shipbuilding soared 116%, DBS Group climbed 53%, and OCBC Bank rose 37%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/61a941096936578f0757219702ed4def\" title=\"\" tg-width=\"1500\" tg-height=\"1700\"/></p><h3 id=\"id_3072300079\" style=\"text-align: start;\">Yangzijiang Shipbuilding Soars on A Large Number of Orders and Impressive Performance</h3><p><a href=\"https://laohu8.com/S/BS6.SI\">Yangzijiang Shipbuilding</a> shares soared 116.4% this year, making it one of the best-performing stocks on the Singapore Exchange.</p><p>The Maritime vessel maker said recently that it has secured another US$2.6 billion in shipbuilding contracts, taking its order wins to US$14.3 billion in the year to date. </p><p>The company posted a net profit of 3.1 billion yuan (S$553.7 million) for the six months ended Jun 30, an increase of 77.2 per cent from the year-ago period. This comes as earnings per share for the period rose to 77.42 fen from 43.69 fen the year before.</p><p style=\"text-align: start;\">A bourse filing by the company reported that its revenue had gone up 15.3 per cent to 13 billion yuan, and attributed this to the strong performance of its shipbuilding business, which contributed to 95 per cent of the total revenue.</p><h3 id=\"id_3038231223\">Sinarmas Land Surges Amid Real Estate Market Turmoil</h3><p><a href=\"https://laohu8.com/S/A26.SI\">Sinarmas Land</a> has surged 72.2% this year, remaining unaffected by the turbulence in the real estate market.</p><p>Sinarmas Land posted a 18.7 per cent drop in net profit to S$89 million for its first half ended Jun 30, 2024, from S$109.5 million in the previous corresponding period. Earnings per share stood at 2.09 Singapore cents for the half year, down from 2.57 cents the previous year.</p><p style=\"text-align: start;\">This was mainly due to fair value losses and impairment losses incurred from certain wholly owned subsidiaries, despite a higher profit for the period, the property developer said in a regulatory filing.</p><p>Sinarmas Land sold a wholly-owned subsidiary that owns a freehold commercial property in London for an estimated price of £247.5 million (S$414.2 million).</p><h3 id=\"id_65779639\" style=\"text-align: start;\">Riverstone and Top Glove Jump as Demand for Gloves Recovers</h3><p>Glovemaker<strong> </strong><a href=\"https://laohu8.com/S/AP4.SI\">Riverstone Holdings</a> and <a href=\"https://laohu8.com/S/BVA.SI\">Top Glove</a> jumped 68.5% and 62.8% separately this year as demand for gloves recovers.</p><p>Riverstone Holdings reported a rise of 21.8 per cent in net profit to RM72.2 million (S$21.8 million) for the third quarter of the 2024 financial year, from RM59.3 million in Q3 FY2023.</p><p style=\"text-align: start;\">Top Glove posted a net profit of RM5.5 million (S$1.7 million) for the first fiscal quarter ended November, reversing its net loss of RM57.7 million in the previous corresponding period.</p><h3 id=\"id_2776713083\">Bumitama Agri Jumps on CPO Price Rally</h3><p><a href=\"https://laohu8.com/S/P8Z.SI\">Bumitama Agri</a> shares jumped 58.8% this year on CPO price rallied.</p><p>Bumitama Agri reported a net profit of 597.9 billion rupiah (S$51 million) for the third quarter ended Sep 30, down 31.6 per cent the year prior.</p><p>While RHB’s research team highlighted the group as a “pure planter with inexpensive valuations”.</p><p>RHB Research has upgraded its call on palm oil producer Bumitama Agri to “buy” from “neutral” with a higher target price of S$0.95 from S$0.70 previously.</p><h3 id=\"id_2919346436\">Singapore Bank Stocks Jump with Impressive Performance</h3><p>Singapore bank stocks jumped with impressive performance.</p><p>Shares of <a href=\"https://laohu8.com/S/D05.SI\">DBS</a>, the region’s largest bank, are up 52.6% this year and shares of <a href=\"https://laohu8.com/S/O39.SI\">OCBC</a> and <a href=\"https://laohu8.com/S/U11.SI\">UOB</a> are up 35.3% and 35% respectively. Their shares all enjoyed a record-breaking year.</p><p>“The main driver was that the U.S. Federal Reserve started to cut interest rates more slowly than the market had assumed going into the year, helping the local banks avoid severe narrowing in net interest margins,” analyst says. </p><p style=\"text-align: start;\">The analyst also points to better-than-expected growth in wealth management fees and a surprise share buyback announcement from DBS as reasons for investor optimism.</p><p style=\"text-align: start;\">Singapore’s banking CEOs are also optimistic heading into 2025—even if a second Trump administration could bring some uncertainties.</p><h3 id=\"id_1925695278\" style=\"text-align: start;\">Great Eastern Jumps As OCBC Garners Over 90% Shares</h3><p><a href=\"https://laohu8.com/S/G07.SI\">Great Eastern</a> shares jumped 52.4% this year as OCBC garnered over 90% shares.</p><p>OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, the bank announced on Jun 24. However, no delisting is in sight as the lender’s offer for its insurance subsidiary has been deemed not fair but reasonable.</p><p style=\"text-align: start;\">As the number of Great Eastern shares held by the public has now dipped below the 10 per cent threshold, the counter has been suspended from trading after OCBC’s offer closes on Jul 12.</p><p style=\"text-align: start;\">On May 10, OCBC made a voluntary unconditional general offer of S$1.4 billion for the remaining 11.56 per cent stake in Great Eastern that it did not already own, with the aim to delist its insurance arm.</p><h3 id=\"id_994681813\" style=\"text-align: start;\">Hongkong Land Jump As It Exits the Build-to-Sell Residential Development Business</h3><p><a href=\"https://laohu8.com/S/H78.SI\">Hongkong Land</a> shares jumped 36.9% this year as it exited the build-to-sell residential development business.</p><p>Hongkong Land exited the build-to-sell residential development business as it pivoted towards fund management and focuses on ultra-premium integrated commercial properties in Asia’s gateway cities. </p><p style=\"text-align: start;\">Announcing its new business strategy at the end of October, the 135-year-old listed property group, which is part of the giant Jardine Matheson conglomerate, said this will reinforce its core capabilities, generate growth in long-term recurring income, and deliver superior returns to shareholders. </p><p style=\"text-align: start;\">The group intends to recycle up to US$10 billion in capital by 2035, and grow assets under management from US$40 billion today to up to US$100 billion by then. It expects to double its profit before interest and tax, and double dividends per share in that time. It estimates US$6 billion in proceeds will be generated from the wind-down of the build-to-sell segment, while another US$4 billion will come from the recycling of investment property assets.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"G07.SI":"大东方控股","P8Z.SI":"布米达马农业","A26.SI":"金光置地","D05.SI":"星展集团控股","STI.SI":"富时新加坡海峡指数","AP4.SI":"立合斯顿","U11.SI":"大华银行","O39.SI":"华侨银行","BVA.SI":"顶级手套有限公司","H78.SI":"置地控股有限公司","BS6.SI":"扬子江船业"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141760216","content_text":"The Singapore stock market had an extraordinary year. Driven by strong performances in financial and technology stocks, the STI surged 17% in 2024, reaching a new all-time high at one point. Among the standout performers, Yangzijiang Shipbuilding soared 116%, DBS Group climbed 53%, and OCBC Bank rose 37%.Yangzijiang Shipbuilding Soars on A Large Number of Orders and Impressive PerformanceYangzijiang Shipbuilding shares soared 116.4% this year, making it one of the best-performing stocks on the Singapore Exchange.The Maritime vessel maker said recently that it has secured another US$2.6 billion in shipbuilding contracts, taking its order wins to US$14.3 billion in the year to date. The company posted a net profit of 3.1 billion yuan (S$553.7 million) for the six months ended Jun 30, an increase of 77.2 per cent from the year-ago period. This comes as earnings per share for the period rose to 77.42 fen from 43.69 fen the year before.A bourse filing by the company reported that its revenue had gone up 15.3 per cent to 13 billion yuan, and attributed this to the strong performance of its shipbuilding business, which contributed to 95 per cent of the total revenue.Sinarmas Land Surges Amid Real Estate Market TurmoilSinarmas Land has surged 72.2% this year, remaining unaffected by the turbulence in the real estate market.Sinarmas Land posted a 18.7 per cent drop in net profit to S$89 million for its first half ended Jun 30, 2024, from S$109.5 million in the previous corresponding period. Earnings per share stood at 2.09 Singapore cents for the half year, down from 2.57 cents the previous year.This was mainly due to fair value losses and impairment losses incurred from certain wholly owned subsidiaries, despite a higher profit for the period, the property developer said in a regulatory filing.Sinarmas Land sold a wholly-owned subsidiary that owns a freehold commercial property in London for an estimated price of £247.5 million (S$414.2 million).Riverstone and Top Glove Jump as Demand for Gloves RecoversGlovemaker Riverstone Holdings and Top Glove jumped 68.5% and 62.8% separately this year as demand for gloves recovers.Riverstone Holdings reported a rise of 21.8 per cent in net profit to RM72.2 million (S$21.8 million) for the third quarter of the 2024 financial year, from RM59.3 million in Q3 FY2023.Top Glove posted a net profit of RM5.5 million (S$1.7 million) for the first fiscal quarter ended November, reversing its net loss of RM57.7 million in the previous corresponding period.Bumitama Agri Jumps on CPO Price RallyBumitama Agri shares jumped 58.8% this year on CPO price rallied.Bumitama Agri reported a net profit of 597.9 billion rupiah (S$51 million) for the third quarter ended Sep 30, down 31.6 per cent the year prior.While RHB’s research team highlighted the group as a “pure planter with inexpensive valuations”.RHB Research has upgraded its call on palm oil producer Bumitama Agri to “buy” from “neutral” with a higher target price of S$0.95 from S$0.70 previously.Singapore Bank Stocks Jump with Impressive PerformanceSingapore bank stocks jumped with impressive performance.Shares of DBS, the region’s largest bank, are up 52.6% this year and shares of OCBC and UOB are up 35.3% and 35% respectively. Their shares all enjoyed a record-breaking year.“The main driver was that the U.S. Federal Reserve started to cut interest rates more slowly than the market had assumed going into the year, helping the local banks avoid severe narrowing in net interest margins,” analyst says. The analyst also points to better-than-expected growth in wealth management fees and a surprise share buyback announcement from DBS as reasons for investor optimism.Singapore’s banking CEOs are also optimistic heading into 2025—even if a second Trump administration could bring some uncertainties.Great Eastern Jumps As OCBC Garners Over 90% SharesGreat Eastern shares jumped 52.4% this year as OCBC garnered over 90% shares.OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, the bank announced on Jun 24. However, no delisting is in sight as the lender’s offer for its insurance subsidiary has been deemed not fair but reasonable.As the number of Great Eastern shares held by the public has now dipped below the 10 per cent threshold, the counter has been suspended from trading after OCBC’s offer closes on Jul 12.On May 10, OCBC made a voluntary unconditional general offer of S$1.4 billion for the remaining 11.56 per cent stake in Great Eastern that it did not already own, with the aim to delist its insurance arm.Hongkong Land Jump As It Exits the Build-to-Sell Residential Development BusinessHongkong Land shares jumped 36.9% this year as it exited the build-to-sell residential development business.Hongkong Land exited the build-to-sell residential development business as it pivoted towards fund management and focuses on ultra-premium integrated commercial properties in Asia’s gateway cities. Announcing its new business strategy at the end of October, the 135-year-old listed property group, which is part of the giant Jardine Matheson conglomerate, said this will reinforce its core capabilities, generate growth in long-term recurring income, and deliver superior returns to shareholders. The group intends to recycle up to US$10 billion in capital by 2035, and grow assets under management from US$40 billion today to up to US$100 billion by then. It expects to double its profit before interest and tax, and double dividends per share in that time. It estimates US$6 billion in proceeds will be generated from the wind-down of the build-to-sell segment, while another US$4 billion will come from the recycling of investment property assets.","news_type":1},"isVote":1,"tweetType":1,"viewCount":49,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
