To The Moon

Stocks to WatchSingapore Airlines (SIA): The national carrier is said to be rewarding eligible employees with a profit-sharing bonus of 7.94 months for FY2024, following the group’s record earnings, The Business Times has learnt. This comes as the airline posted its highest earnings of about S$2.7 billion for the year ended Mar 31, up 24 per cent from the year before. Its top line was up 7 per cent year to a record high of S$19 billion. SIA shares fell 0.4 per cent or S$0.03 to S$6.81 on Wednesday, before the results were released.Seatrium: It was awarded a contract from Single Buoy Moorings, an SBM Offshore company, for the topside fabrication and integration of a floating production storage and offloading vessel. Work is slated to commence in Q3 2024, announced the group on Thursday. Sha

Stocks to WatchGolden Agri-Resources : The palm oil company reported on Wednesday a 60 per cent year-on-year decline in Q1 net profit to US$37 million amid weaker crude palm oil prices. Revenue for the period stood at US$2.6 billion, up 1 per cent, mainly due to expanded sales volume. Its shares closed flat on Tuesday at S$0.27.First Resources : The Indonesian palm oil producer’s net profit for the first quarter ended March 2024 grew 86.6 per cent to US$36.1 million, it reported on Wednesday. The better financial performance came on the back of improved sales volume and reduced export taxes despite lower average selling prices. Shares of First Resources ended Tuesday flat at S$1.38.Singtel : Its India associate Bharti Airtel posted lower-than-expected fourth-quarter revenue on Tuesday, hur

Stocks to WatchThai Beverage : (ThaiBev): The beverage manufacturer on Monday reported a 4.9 per cent drop in net profit to seven billion baht (S$257 million) for its second quarter ended Mar 31, 2024. The decline was mainly due to a lower share of profits from investment on its associated companies and joint ventures. Shares of Thai Beverage closed flat at S$0.49, before the release of the results.OCBC : It has priced US$500 million of fixed-rate subordinated notes under its US$30 billion global medium-term note programme. On Tuesday, the bank said net proceeds will be used for general corporate purposes. Shares of OCBC ended S$0.16 or 1.1 per cent higher on Monday at S$14.28. Bumitama Agri : The palm oil producer on Tuesday posted a 23.5 per cent year on year drop in net profit t

Vesak Day is around the corner. The Singapore market will be closed on Wednesday, May 22, 2024. Please take note of the trading arrangements during the holiday period and make the necessary preparations in advance.About Vesak DayVesak, also known as Buddha Jayanti, Buddha Purnima, and Buddha Day, is a holiday traditionally observed by Buddhists in South Asia and Southeast Asia, as well as Tibet and Mongolia. It is the most important Buddhist festival. The festival commemorates the birth, enlightenment, and passing of Gautama Buddha in Theravada, Tibetan Buddhism and Navayana. $(STI.SI)$

Stocks to WatchST Engineering : The group on Monday posted an 18.1 per cent rise in group revenue to S$2.7 billion for the first quarter ended Mar 31. It attributed the gain to higher contributions from its commercial aerospace and defence and public security segments, which recorded double-digit growth in revenue. It declared an interim dividend of S$0.04 per share for the quarter. ST Engineering shares closed 1.8 per cent or S$0.07 higher at S$3.98 on Friday.Genting Singapore : The integrated resort operator last Friday reported net profit of S$247.4 million for the first quarter ended March, up 91.5 per cent year on year. Revenue grew 61.9 per cent to S$784.4 million. Shares of Genting Singapore closed S$0.01 or 1.1 per cent higher at S$0.885, before the update.SIA Engineering :(SIAEC)

Market SnapshotThe Singapore stock market fell 0.07%. In terms of individual stocks, Great Eastern soared 40.55%, Top Glove jumped 7.84%, SingPost gained 6.9%, SIA rallied 3.53%.SG Local NewsSingapore Must Recognize Stock-Market Challenges, Wong SaysSingapore must be realistic about the global trends affecting its equities market and what can be done about them, according to Deputy Prime Minister Lawrence Wong.It’s still challenging for Singapore to attract listings, Wong said in response to a parliamentary question on Wednesday. However, he said that stock exchanges in places like the UK and Hong Kong have the same issue.“Strong-growth companies backed by private equity and venture capital have the option to remain private for longer in the high-for-longer interest rate environment,” said

SG Local NewsOCBC Q1 Profit Rises 5% to S$1.98 BillionOCBC’s net profit for the first quarter ended Mar 31, 2024, rose 5 per cent to S$1.98 billion, buoyed by strong growth in operating profit.This was compared with earnings of S$1.88 billion from the year-ago period, according to financial statements released on Friday (May 10).The bank’s Q1 net profit beat the S$1.85 billion consensus forecast in a Bloomberg survey of three analysts. It was the last among its local peers to report its quarterly results this season.Annualised earning per share stood at S$1.76 for the quarter, up 5 per cent from S$1.68 the year before.Total income for the quarter rose 8 per cent year on year to S$3.63 billion.OCBC Makes S$1.4 Billion Offer to Delist Great EasternOCBC has made a S$1.4 billion voluntary unco

SG Local NewsSingapore Must Recognize Stock-Market Challenges, Wong SaysSingapore must be realistic about the global trends affecting its equities market and what can be done about them, according to Deputy Prime Minister Lawrence Wong.It’s still challenging for Singapore to attract listings, Wong said in response to a parliamentary question on Wednesday. However, he said that stock exchanges in places like the UK and Hong Kong have the same issue.“Strong-growth companies backed by private equity and venture capital have the option to remain private for longer in the high-for-longer interest rate environment,” said Wong, who is also Minister for Finance.AEM Holdings Q1 Net Profit Tumbles 85% to S$2.4 MillionSEMICONDUCTOR equipment maker AEM Holdings net profit fell 85 per cent to S$2.4 mil

One day after Dutch global commodity merchant Louis Dreyfus Company raised its takeover offer to A$0.67 per share for Namoi Cotton, Olam Agri has topped the bid by raising its stake to A$0.70 per share on Wednesday (May 8), heating up the tussle for the Australia’s largest cotton ginner.Olam shares gained over 3% in morning trading.The new offer by Olam Group’s indirect 64.57 per cent-owned subsidiary would value Namoi at A$144.9 million (S$129.4 million), up from rival bidder’s stake of A$138.6 million .Shares of the Australian cotton-ginning company rose as much as 2.8 per cent to A$0.74, the highest since November 1999, after Louis Dreyfus upped its bid on Tuesday to be A$0.01 per share higher than Olam Agri’s A$0.66 per share offer last Thursday.Olam Agri noted that the

Stocks to WatchUOB : U11: The lender on Wednesday posted a net profit of S$1.49 billion for its first quarter ended Mar 31, down 1.6 per cent from S$1.51 billion a year earlier. The earnings beat the mean estimate of S$1.43 billion from three analysts polled by LSEG, on the back of UOB’s trading and investment income and higher net fee income. Shares of UOB ended nearly flat at S$30.55 on Tuesday, down 0.03 per cent or S$0.01. DBS : D05: The group’s chief executive Piyush Gupta gained S$2.7 million after selling 75,000 of his DBS shares, the group said on Tuesday. The transaction was carried out last Friday at S$35.70 apiece. After the sale, which accounted for about 2.7 per cent of his DBS holdings, Gupta owns 0.095 per cent or over 2.7 million of the bank’s ordinary shares unde