To The Moon

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

Stocks to WatchTHE following companies saw new developments that may affect trading of their securities on Monday (Jun 10):$Singapore Post(S08.SI)$(SingPost): The subsidiary of Chinese e-commerce giant Alibaba Group, Alibaba Investment, sold 72.5 million shares in SingPost for S$33.3 million on Friday. The shares were transacted at about S$0.46 apiece. The e-commerce giant previously held approximately 327.6 million shares, as indicated in a filing on the Singapore Exchange. Shares of SingPost closed 1.02 per cent or S$0.005 lower at S$0.485, before the announcement. $Sabana Real Estate Investment Trust(M1GU.SI)$ (Sabana Reit): Unitholders of the trust are urging the manager’s directors to hold

Market SnapshotThe Singapore stock market fell 0.17% this week. In terms of individual stocks, Sri Trang Agro soared 8.18%, Top Glove jumped 6.78%, SATS gained 6.12%, YZJ Shipbldg rallied 5.70%, Nio fell 7.33%.SG Local NewsAlibaba Unit Dumps S$33.3 Million in SingPost SharesAlibaba Investment, a subsidiary of Chinese e-commerce giant Alibaba Group, sold off 72.5 million shares in Singapore Post (SingPost) for S$33.3 million on Friday (Jun 7).The transaction lowers its stake in the national postal service provider to 11.34 per cent from 14.56 per cent, and trims its holding to about 255.1 million shares. It previously held approximately 327.6 million shares, indicated a filing on the Singapore Exchange (SGX).The shares were sold at about S$0.46 apiece, a whisker below SingPost’s closing pri

Stocks to WatchTHE following companies saw new developments that may affect trading of their securities on Friday (Jun 7):Nio : NIO The Shanghai-based electric vehicle maker’s adjusted net loss widened by 18.1 per cent to 4.9 billion yuan (S$911.7 million) in the first fiscal quarter. This comes amid an increase in competition in the EV market, said the group on Thursday. Shares of Nio ended 0.6 per cent or US$0.03 lower at US$5.29, before the news.Sembcorp : U96: The group on Thursday announced it was working with US fuel cell provider Bloom Energy on the “potential utilisation” of the latter’s low-carbon power generation technologies in Singapore. Shares of Sembcorp closed 0.6 per cent or S$0.03 lower at S$5.06, before the announcement. Earlier in the midday, the group also said it signe

Stocks to WatchOUE Real Estate Investment Trust : TS0U (OUE Reit): Its wholly owned subsidiary, OUE Reit Treasury, has priced its offering of S$250 million of green notes under its S$2 billion multi-currency debt issuance programme. The notes will bear an annual coupon of 4.1 per cent. Net proceeds will be used exclusively to finance or refinance new or existing eligible green projects. Units of OUE Reit closed 1.9 per cent or S$0.005 higher at S$0.27 on Wednesday, before the announcement was made.Yangzijiang Financial : YF8: The company announced on Wednesday that its maritime fund entered into a joint venture with Alpha Omega Marine, a Singapore-based equity-investment vehicle specialising in maritime opportunities, to acquire a dry-bulk vessel. Shares of Yangzijiang Financial closed 1.5

Stocks to Watch$Seatrium(5E2.SI)$ has been awarded a letter of intent (LOI) by BP Exploration & Production (BP) to conduct “certain early engineering works”. This is pending the finalisation of a definitive contract for engineering, procurement, construction and commissioning (EPC) work for BP’s Kaskida floating production unit (FPU) project in the US Gulf of Mexico.The project is a greenfield development that’s located some 250 miles southwest of New Orleans in the Keathley Canyon area of the Gulf of Mexico.$CapitaLand Investment(9CI.SI)$ (CLI) has incorporated three new Scope 3 categories that are deemed material to its operations. These are purchased goods and operations, fuel- and energy-relat

Stocks to WatchTHE following companies saw new developments that may affect trading of their securities on Tuesday (Jun 4):$CapitaLand Ascott Trust(HMN.SI)$ (Clas): The stapled group has acquired a remaining 10 per cent stake in a 678-bed freehold student accommodation property in South Carolina. On Tuesday, its managers said they expect the acquisition to generate an earnings before interest, taxes, depreciation and amortisation (Ebitda) yield on total development costs of about 7 per cent, which is higher than the projected Ebitda yield of 6.2 per cent in 2021 assuming stable performance. Stapled securities of Clas ended flat at S$0.895 on Monday.$iFast Corporation(AIY.SI)$: The digital banking and

Stocks to WatchTHE following companies saw new developments that may affect trading of their securities on Monday (Jun 3): Nio : NIO: The Chinese electric carmaker delivered a record high monthly delivery of 20,544 cars in May 2024, which represents a 233.8 per cent year-on-year increase. By the end of May, Nio’s cumulative deliveries since inception reached 515,811 cars. Shares of the mainboard-listed company climbed 8.1 per cent or US$0.40 to US$5.32 last Friday, before the announcement.Sembcorp Industries : U96: Sembcorp Development, a wholly owned subsidiary of Sembcorp Industries, has added three industrial parks in Vietnam to its expanding portfolio of low-carbon industrial parks. Sembcorp’s effective shares in the three new projects range from 24.6 to 49.3 per cent. Shares of t

Market SnapshotThe Singapore stock market added 0.6% this week amid slowed economic growth in the US.In terms of individual stocks, YZJ Shipbldg soared 20%, Seatrium jumped 14%, Nio gained 10%, Top Glove fell 9%.SG Local NewsYangzijiang Shipbuilding’s Order Book Swells to Record US$16.1 BillionMARITIME vessel maker Yangzijiang Shipbuilding : BS6’s order book now stands at a record value of US$16.1 billion as at May 24.The mainboard-listed shipbuilder said in a quarterly business update on Monday (May 27) that it now has 193 vessels in its backlog to be delivered by 2028, with a total compensated gross tonnage of 7.45 million.Container ships made up the largest number (66 vessels with a value of US$9.3 billion) followed by oil tankers (58 vessels, US$2.8 billion), then bulk carriers (47 ves

Stocks to WatchMapletree Pan Asia Commercial Trust : N2IU (MPACT): The real estate investment trust is divesting Mapletree Anson, a 19-storey office building in Tanjong Pagar, for S$775 million. This represents a gain of S$10 million or 1.3 per cent over the building’s book value and valuation. Units of MPACT closed flat at S$1.22 on Thursday, before the announcement.GP Industries : G20: The mainboard-listed battery maker reported a net loss of S$67.6 million for its second half ended Mar 31, compared with a net profit of S$2.2 million in the previous corresponding period. Revenue slipped 1.9 per cent to S$543.9 million from S$554.5 million. Shares of GP Industries closed flat at S$0.525 on Thursday, before the results were announced.Azeus Systems : BBW: The IT solutions and products provi