Market SnapshotSingapore stocks opened lower on Monday. STI fell 0.5%; SIA fell 0.3%; UOB fell 1.2%; DBS fell 1%; OCBC fell 0.8%; Seatrium rose 1.2%; Yangzijiang Shipbuilding fell 1.2%.SG Local NewsSingapore ranks as 2nd top global hub for cross-border capitalSingapore has emerged as the second leading source of global cross-border capital for the first half of 2024, with total transactions reaching 1,929, according to Colliers’ Global Capital Flows September 2024 report.Also in the top 10 from the Asia Pacific region are Hong Kong, Japan, and China.Yangzijiang to acquire 34% stake in Tsuneishi Group shipbuilding unitYangzijiang Shipbuilding (Holdings) Ltd. has entered a joint venture with Tsuneishi Holdings Inc. (THD), acquiring a 34% equity stake in Tsuneishi Group (Zhoushan) Shipbuildin
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Singapore Stocks to Watch: MPACT, MLT, Keppel Reit, Clint, CDLHT, OUE Reit
The following companies saw new developments that may affect trading of their securities on Tuesday (Jan 30):Mapletree Pan Asia Commercial Trust (MPACT) has declared 9.1% lower distribution per unit (DPU) y-o-y of 2.20 cents for 3QFY2024 ended Dec 31, 2023, tempered by rate hikes and the absence of a one-off gain.However, the REIT recorded y-o-y gains in gross revenue and net property income (NPI) for the quarter, which improved by 0.8% y-o-y to $241.6 million and 1.7% y-o-y to $182.4 million, respectively. Despite broad forex challenges, growth was primarily driven by Singapore’s robust performance, which delivered positive contributions after fully offsetting higher utility expenses. Mapletree Logistics Trust (MLT) has proposed the divestment of its property at 72 Tuas South Av
Singapore Stocks to Watch: AEM, ST Engineering, Sats, First Resources, Yangzijiang Financial
The following companies saw new developments that may affect trading of their securities on Thursday (Feb 29):AEM: The semiconductor equipment maker reported a net loss of S$20.9 million for the six months ended Dec 31, 2023, reversing from a net profit of S$44 million in the corresponding period a year earlier. Revenue for H2 FY2023 dropped 38 per cent to S$206.1 million from S$330 million. On Wednesday, the group said the loss follows the declining trend in the group’s net profit, which plunged 76 per cent year on year to S$19.7 million in the first half of FY2023. Shares of AEM closed at S$2.65, down 2.9 per cent or S$0.08, before the announcement.ST Engineering: The defence and engineering group’s net profit for the second half ended Dec 31, 2023, rose 19.9 per cent to S$305.9 million
SG Morning Call | Singapore Stocks Opened Lower on Monday; YZJ Shipbuilding Fell 1.2% after buying into Tsuneishi
SG Morning Call | Singapore Stocks Opened Lower on Monday; YZJ Shipbuilding Fell 1.2% after buying into Tsuneishi
SG Morning Call | OCBC to Quadruple Number of Cross-Border QR Payments; Factory Output Extends Growth in February
Stocks to Watch$City Developments Ltd(C09.SI)$ (CDL), $Frasers Property(TQ5.SI)$: A consortium of five companies, including CDL and Frasers Property, has submitted two bids with different concept proposals for the master-developer site in Jurong Lake District. The two property developers will take a 25 per cent stake each in the consortium.$WING Tai(W05.SI)$ has priced S$100 million in fixed-rate senior unsecured notes due Apr 3, 2029, at 4.38 per cent. Coupon payments will be made semi-annually.The notes were issued under the property developer’s S$1 billion multicurrency debt-issuance programme established on Mar 6.Net proceeds from the issuance will be u
Singapore Stocks to Watch: SIA, SIA Engineering, F&N, Silverlake, Jiutian Chemical
THE following companies saw new developments that may affect trading of their securities on Friday (Feb 16):$SINGAPORE Airlines(C6L.SI)$ (SIA) recorded a year-on-year, 14.4 per cent rise in group passenger traffic to 12.6 billion for January 2024, it said on Thursday (Feb 15).Within the group, the flagship airline’s revenue passenger-kilometres rose 14.3 per cent to 9.6 billion from 8.4 billion year on year. Passenger traffic, expressed as revenue passenger-km, indicates the number of passengers carried multiplied by the distance flown.Passenger capacity across the group rose 16.5 per cent on-year to 14.7 billion from 12.7 billion, outpacing January’s revenue passenger-km due to the shift in the Chinese New Year to February.
SG Morning Call | Singapore Stocks Opened Lower on Friday; One-Third of New Cars in Singapore Are EVs
Market SnapshotSingapore stocks opened lower on Friday. STI fell 0.11%; Keppel rose 0.46%; Singtel fell 0.35%; SIA fell 0.14%; OCBC bank fell 0.26%.Stocks to WatchTHE following companies saw new developments that may affect trading of their securities on Friday (Jul 5):$Ho Bee Land(H13.SI)$: The real estate group has priced S$160 million in fixed rate green notes due 2029 at 4.35 per cent. Net proceeds from the issuance will be used to fund or refinance eligible green projects. Shares of Ho Bee Land closed flat at S$1.86 on Thursday.$IReit Global(UD1U.SI)$: The real estate investment trust’s manager appointed Peter Viens as its new chief executive, following the departure of existing CEO Louis d’Esti
SG Morning Call | Singapore Stocks Opened Lower on Friday; One-Third of New Cars in Singapore Are EVs
SG Morning Call | Singapore Stocks Opened Flat on Thursday; Sabana Reit’s EGM to Vote on Proposed Internal Manager Directors to Be Postponed
Market SnapshotSingapore stocks opened flat on Thursday. STI was unchanged; Sabana Reit fell 1%; Seatrium rose 3%; SingPost rose 2%.Stocks to WatchSabana Industrial Real Estate Investment Trust (Sabana Reit) : The Reit’s requisitionists have rejected the trustee’s proposal to postpone the extraordinary general meeting to vote on the proposed internal manager directors. On Wednesday, the requisitionists noted that it will not change the amended resolutions as suggested by the trustee, as they believe their requisitions “provide clear directions”. Units of Sabana Reit closed 2.8 per cent or S$0.01 higher at S$0.37 before the news.Oiltek International : The renewable energy solutions provider on Thursday said it secured new contracts worth approximately RM19.5 million (S$5.9 million) from Afr
SG Morning Call | Singapore Banks Probe Rich Clients After Laundering Case
Stocks to Watch$Seatrium(5E2.SI)$: A director of the offshore and marine giant, Lai Chung Han, will resign on Jun 30. On Monday, the company said Lai will be assuming appointment as the permanent secretary for development at the Ministry of Finance from Jul 1. Shares of Seatrium closed S$0.04 or 2.4 per cent higher at S$1.74, before the news.$Kimly(1D0.SI)$: Its wholly owned subsidiary, Choh Dee (S204) Food House, has exercised an option to purchase a coffee-shop property in Serangoon from Lee Quan Enterprises for about S$13.2 million. The proposed acquisition is not expected to have any significant impact on the group’s performance for the current fiscal year. Shares of Kimly closed S$0.005 or 1.6 pe
Singapore Stocks to Watch: Clar, Clas, Parkway Life Reit, Lendlease Global Reit, FHT, Sabana Reit, Digital Core Reit
The following companies saw new developments that may affect trading of their securities on Friday (Feb 2):Rising interest rates weighed on CapitaLand Ascendas Reit (Clar), as the business and industrial property player saw distribution per unit (DPU) fall 6.1 per cent year on year to 7.441 Singapore cents for the six months ended Dec 31, 2023.The DPU decline came even as the Reit’s H2 gross revenue rose 11 per cent to S$761.7 million, and net property income (NPI) was up 4.6 per cent to S$514.3 million.For FY2023 overall, Clar’s DPU was down 4 per cent year on year to 15.16 cents, on the back of a 1.4 per cent fall in the amount available for distribution to S$654.4 million. The Reit attributed this to higher interest expenses, amid the rising rate environment.CAPITALAND Ascott Trust (Cl
SG Morning Call | Singapore Stocks Opened Lower on Wednesday; Sembcorp to Acquire 30% Interest in Senoko Energy
Market SnapshotSingapore stocks opened lower on Wednesday. STI fell 0.5%; Sembcorp rose 1.4%; LMIRT fell 4.4%; SIA rose 0.6%; SingPost fell 1%.Stocks to WatchSembcorp: The group’s subsidiary Sembcorp Utilities agreed to acquire a 30 per cent interest in energy supplier Senoko Energy for an undisclosed sum in a purchase agreement signed with energy solutions provider Engie Global Developments, said Sembcorp on Tuesday. The acquisition will not have a material impact on Sembcorp’s net tangible assets per share for the current fiscal year ending Dec 31. Shares of Sembcorp closed S$0.06 or 1.2 per cent higher at S$5.19, before the announcement.Lippo Malls Indonesia Retail Trust (LMIRT): Two rating agencies, Moody’s Investor Service and Fitch, withdrew the real estate investment trust’s credit
SG Morning Call | Singapore Stocks Opened Lower on Wednesday; Sembcorp to Acquire 30% Interest in Senoko Energy
Singapore Stocks to Watch: Nio, 17Live, Mm2 Asia
The following companies saw new developments that may affect trading of their securities on Wednesday (Mar 6):Nio (NIO): China-Based electric vehicle (EV) maker Nio narrowed its fourth-quarter loss for FY2023 by 4.3 per cent year on year to 5.6 billion yuan (S$1.1 billion) on higher vehicle sales margin.The company, which is listed in the United States, Hong Kong and Singapore, delivered a 4.6 per cent year-on-year rise in vehicle sales to 15.4 billion yuan for the period to December 2023, with vehicle sales margin improving to 11.9 per cent from 6.8 per cent for the year-ago quarter.The higher vehicle sales margin was mainly attributed to lower material cost per unit and the absence of inventory provisions and losses on purchase commitments that were recorded in Q4 FY2022.17Live (LVR), Mm
SG Morning Call | Singapore Stocks Rise on Thursday; DBS Gains 2%; Dyna-Mac Surges 25%
Market SnapshotSingapore stocks opened higher on Thursday. STI rose 0.7%; SIA rose 0.5%; DBS rose 1.8%; OCBC rose 0.6%; UOB rose 0.7%; Seatrium rose 1.9%; AEM 3.3%; Dyna-Mac rose 25.3%.Stocks to Watch$Sabana Reit(M1GU.SI)$: The Reit’s manager said on Wednesday that the former master tenant of the Reit’s premises at 33 and 35 Penjuru Lane has started the necessary process to enter into a creditors’ voluntary liquidation. The manager is taking legal advice and will take active steps to protect the interest of the Reit, including mitigating any losses arising from this development. Units of Sabana Reit closed flat at S$0.35 before the news.$Dyna-Mac(NO4.SI)$: South Korean company Hanwha has launched a v
SG Morning Call | Singapore Stocks Rise on Thursday; DBS Gains 2%; Dyna-Mac Surges 25%
SG Morning Call | Boustead Singapore H2 Profit up 64% to S$37.3M; Yangzijiang Shipbuilding’s Order Book Swells to Record US$16.1B
SG Local NewsBoustead Singapore H2 Profit up 64% to S$37.3 Million on Improved RevenueBoustead Singapore posted a 64% rise in profit attributable to equity holders in the fiscal second half mainly due to higher gross profit and interest income, and increased average shareholding in Boustead Projects, according to a Monday filing with the Singapore Exchange.The engineering services company's attributable profit rose to SG$37.3 million, or SG$0.0782 per share, from SG$22.7 million, or SG$0.0475 per share, a year earlier.Revenue for the six months ended March 31 climbed 27% year over year to SG$399.6 million from SG$314.8 million, thanks to higher revenue contributions from the geospatial, real estate solutions, and energy engineering segments, the filing said.Yangzijiang Shipbuilding’s Order
SGX Weekly Review | STI Rises 2.8%; Sea Ltd Soars 22%; DBS Group Jumps 7.6%
Singapore stocks rose 2.79% this week, boosted by a series of positive economic data. Non-domestic exports far exceeded economists’ estimates to climb 15.7 per cent in July, as both electronics and non-electronics exports grew. Moreover, Singapore narrowed its GDP growth forecast for 2024 to 2% to 3% from a previous range of 1% to 3%, as per data released by Singapore's Ministry of Trade and Industry.Market News$Sea Ltd(SE)$ Surges 22% after Topping Profit EstimatesShares of Sea Limited soared 21.52% this week. Sea Ltd. reported second-quarter earnings that topped analysts’ estimates, after it continued to attract online shoppers in Southeast Asia’s rapidly growing e-commerce market.The Singapore-based company swung back into the black with a net in
SGX Weekly Review | STI Rises 2.8%; Sea Ltd Soars 22%; DBS Group Jumps 7.6%
SG Morning Call | Singapore Stocks Open Higher on Tuesday; Yangzijiang Shipbuilding Jumps 6%
Market SnapshotSingapore stocks opened higher on Tuesday. STI rose 0.2%; SIA, OCBC and UOB rose 0.2%; Seatrium rose 0.7%; Nio rose 4.2%; Yangzijiang Shipbuilding rose 6.3%.Stocks to Watch$CapLand IntCom T(C38U.SI)$ (CICT): The trust’s H1 distribution per unit was 2.5 per cent to S$0.0543, from S$0.0530 in the corresponding period a year ago. Based on its results filing on Tuesday, half-year revenue was about S$792 million, up 2.2 per cent from S$774.8 million in H1 FY2023. Units of CICT closed about 1 per cent or S$0.02 higher at S$2.10 on Monday.ESR-Logos Real Estate Investment Trust : J91U 0% (ESR-Logos Reit): The trust has priced S$100 million perpetual capital securities at 6 per cent. This is in addition to the S$74.8 million perps that ha
SG Morning Call | Singapore Stocks Open Higher on Tuesday; Yangzijiang Shipbuilding Jumps 6%
Singapore Stocks to Watch: Suntec Reit, ComfortDelGro, Seatrium, Keppel, Sembcorp, Sabana Reit
The following companies saw new developments that may affect trading of their securities on Wednesday (Jan 24):Suntec REIT has reported a distribution per unit (DPU) of 7.135 cents for the FY2023 ended Dec 31, 2023, 19.7% lower y-o-y. DPU for the 4QFY2023 fell by 6.2% y-o-y to 1.866 cents.Distributable income for the year fell by 19.1% y-o-y to $206.8 million due to higher financing costs, lower contributions from the REIT’s overseas properties and the weaker Australian dollar (AUD), which fell by 6.6% against the Singapore dollar (SGD). The lower contributions arose from vacancies at 55 Currie Street, Adelaide, Southgate Complex, Melbourne and The Minster Building, London.Connecting Stockholm, the joint venture (JV) between ComfortDelGro(CDG) and Go-Ahead Group, has been awarded the contr
SG Morning Call｜Keppel DC Reit Reports 13.7% Lower Q1 DPU; DBS and OCBC Expected to Deliver Steady Q1 Net Profits
Stocks to WatchCapitaLand Integrated Commercial Trust (CICT): It posted a net property income (NPI) of S$293.7 million for its first quarter ended Mar 31, up 6.3 per cent year on year, supported by higher gross rental income and lower operating expenses, CICT’s manager said in a business update on Friday. Units of CICT ended 0.5 per cent or S$0.01 higher at S$1.86 on Thursday.Seatrium: The offshore and marine engineering group was ordered to pay US$108 million to MHWirth, a wholly owned subsidiary of US drilling services provider HMH. Seatrium said on Thursday that the ruling was made by a tribunal operating under the rules of the Singapore International Arbitration Centre. It comprises vendor termination fees, ancillary, and legal and arbitration proceeding fees. The counter closed S$0.00
Singapore Stocks to Watch: ThaiBev, Keppel, Seatrium, Civmec
$Thai Beverage(Y92.SI)$: Thai Beverage (ThaiBev) on Wednesday (Feb 14) said its sales revenue for the first quarter ended Dec 31, 2023 fell by 5.9 per cent to 76.1 billion baht (S$2.8 billion) from 80.9 billion baht year on year.However, its earnings before interest, taxes, depreciation and amortisation (Ebitda) rose by 1.9 per cent to 13.8 billion baht, from 13.5 billion baht in the corresponding year-ago period, as a result of “effective cost management”, the beverage group said in a business update.The lower revenue came as the group’s beer segment revenue declined 14 per cent to 32.6 billion baht, from 37.9 billion baht in Q1 FY2023, on the back of sales volume falling by 15 per cent and a slower-than-expected economic recovery in Thailand a
SG Morning Call｜STI Up 0.5%; Singapore Nickel Scandal Liquidators Seek to Recoup S$855m; Seatrium Bags a 3-Year $1.1b Syndicated Facility
Market SnapshotSingapore stocks opened higher on Wednesday. STI rose 0.4%, Keppel Pacific Oak fell 0.5%, Aztech Global rose 2%, Pan-United rose 2%, Aims rose 0.8%, Seatrium rose 0.6%.Stocks to WatchGreat Eastern: The insurer on Wednesday posted a 45 per cent year-on-year increase in net profit to S$280.4 million for the second quarter ended Jun 30, from S$193.2 million. On a half-yearly basis, net profit increased 34 per cent to S$587.1 million, from S$437.2 million. Trading in Great Eastern shares has been suspended at S$25.80 since Jul 15.CapitaLand Ascendas Reit(Clar): The industrial property player’s distribution per unit (DPU) fell 2.5 per cent for the half-year ended June to S$0.07524. This comes amid an enlarged unit base and higher finance costs. The lower DPU was despite H1 revenu
SG Morning Call｜STI Up 0.5%; Singapore Nickel Scandal Liquidators Seek to Recoup S$855m; Seatrium Bags a 3-Year $1.1b Syndicated Facility
SG Morning Call｜STI Up 0.1%; Samudera Shipping fell 14.57% As H1 Profit Down 68.7% while Sheng Siong Rose 1.3% As H1 Net Profit Up 7%
Market SnapshotSingapore stocks opened higher on Tuesday. STI rose 0.1%, Samudera Shipping fell 14.57%, Sheng Siong rose 1.3%, Lippo Malls fell 5%.Stocks to WatchKeppel Real Estate Investment Trust : Its manager on Tuesday announced a 3.4 per cent year-on-year decrease in distribution per unit (DPU) of S$0.028 for the half year ended June. Distributable income for the period dropped 1.9 per cent to S$106.9 million, despite net property income rising 7.7 per cent to S$96.8 million on the year. The counter closed Monday up 0.6 per cent or S$0.005 at S$0.88.Sheng Siong : The supermarket chain posted a 7 per cent increase in net profit to S$69.9 million for the first half ended Jun 30, from S$65.4 million the year before. Revenue grew 3.4 per cent year on year to S$714.2 million, driven by a l
SG Morning Call｜STI Up 0.1%; Samudera Shipping fell 14.57% As H1 Profit Down 68.7% while Sheng Siong Rose 1.3% As H1 Net Profit Up 7%
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