To The Moon

Singapore shares rallied this week, with the $STI(STI.SI)$ up 0.04% in the last five trading days. $SGX(S68.SI)$ rose 12% this week, $YZJ Shipbldg SGD(BS6.SI)$ rose 6%; $Delta TH SDR 1to1(TDED.SI)$ fell 12.4%, $Sri Trang Gloves(STG.SI)$ fell 11.2%.Market NewsSingapore Exchange's Business Momentum Still Looks Solid$SGX(S68.SI)$'s business momentum continues to look solid, OCBC Investment Research says in a note. The stock-exchange operator's market statistics for October showed the derivatives daily average volume surging 48

Market SnapshotSingapore stocks opened higher on Friday. STI was up 0.4%, ThaiBev up 1%, Lum Chang up 1.6%, BRC Asia up 2.5%, Seatrium up 2%.Stocks to WatchThai Beverage (ThaiBev): The beverage company posted a net profit of 27.2 billion baht (S$1.1 billion) for its full year ended Sep 30, a slight drop of 1 per cent from 27.4 billion baht a year earlier. This comes as higher costs of living have dented the purchasing power of individuals, limiting consumer spending and affecting the domestic consumption of alcoholic and non-alcoholic beverages. Shares of ThaiBev closed 1 per cent or S$0.005 lower at S$0.515 on Thursday, before the release of the results.BRC Asia : The steel solutions provider posted an 11 per cent year-on-year rise in net profit to S$55 million for its second half en

Market SnapshotSingapore stocks opened flat on Thursday. STI was unchanged, Singtel fell 0.96%, Nio fell 0.84%, Keppel DC Reit fell 1.32%, Keppel Pacific Oak rose 4.7%, YZJ Shipblg rose 1.5%.Stocks to WatchSingtel : The telecom group on Thursday announced changes to its senior management, to support new business priorities of its growth plan. Singtel Singapore’s deputy chief executive Anna Yip will relinquish her role to lead an expanded and rebranded business development function. Veteran Mark Chong was also appointed group chief corporate officer, as part of a wider senior management change. The company’s shares ended Wednesday 3.1 per cent or S$0.10 lower at S$3.13.Nio : The Chinese electric carmaker said on Wednesday its net loss widened to 5.1 billion yuan (S$945.5 million) for its th

Market SnapshotSingapore stocks opened higher on Wednesday. STI up 0.2%, CLI up 1.4%, Frencken up 4.2%, Koh Eco up 3.5%, Seatrium up 2%.Stocks to WatchCapitaLand Investment (CLI) : The real asset manager is buying a 40 per cent stake in Singapore-headquartered real estate investment manager, SC Capital Partners, for S$280 million. CLI on Wednesday said it intends to acquire the remaining 60 interest in phases over the next five years and invest at least S$524 million in SC Capital’s fund strategies to support the growth of its platform. Shares of CLI ended Tuesday S$0.02 or 0.7 per cent higher at S$2.81. Keppel DC Real Estate Investment Trust (Keppel DC Reit) : It has closed its private placement at S$2.09 apiece with 334.9 million new units issued. On Wednesday, the Reit ma

Market SnapshotSingapore stocks opened higher on Tuesday. STI up 0.4%, Keppel up 2%, Seatrium up 1.6%, SATS up 2.7%, YZJ Shipblg up 3.6%.Stocks to WatchKeppel: Keppel will take over 13 legacy rigs held by Rigco following a selective capital reduction exercise, which will cancel all of Rigco’s shares that are not held by a Keppel unit as at the date of the announcement. On Tuesday, the group also said it plans to establish a private fund to own and manage the legacy rigs, as well as attract third-party capital. Shares of Keppel closed 0.3 per cent or S$0.02 higher at S$6.58 on Monday.Genting Singapore: The casino licence of Resorts World Sentosa, an integrated resort operated by Genting Singapore, has been renewed by the authorities for another two years starting from Feb 6 next year. The i

Market SnapshotSingapore stocks opened higher on Monday. STI up 0.3%, ST Engineering down 1.9%, KIT up 1.1%, Frasers Property down 1%.Stocks to WatchSingapore Airlines (SIA) : The group posted a 7.4 per cent year-on-year rise in passenger traffic for October 2024. On Friday, SIA said that this brought its revenue passenger-kilometre (the number of passengers multiplied by the distance flown) to 12.9 billion for the month, up from 12 billion the year before. Shares of SIA closed up 1.1 per cent at S$6.33 on Friday before the news. ST Engineering : The technology and engineering group on Monday reported a 14 per cent increase in revenue to S$2.8 billion for the third quarter ended September, from S$2.4 billion in the previous corresponding period. It also proposed a third quarter interi

Singapore Technologies Engineering says it has increased its revenue by 14% y-o-y to $8.3 billion for its 9MFY2024 ended September 30.The jump was led by "significant" 3QFY2024 growth in its defence and public sector segment. In the 9MFY2024, this market segment recorded 18% y-o-y higher revenue growth, reaching $.3.6 billion, says the company in its 3QYF2024 business update.Its commercial aerospace segment generated "good" y-o-y revenue growth as well that is 16% higher in 9MFY2024, reaching $3.3 billion.Meanwhile, another key segment, urban solutions and satellite communications hardly budged with 9MFY2024 revenue that was merely 0.3% more y-o-y. While the urban solutions sub-segment recorded growth, it was offset by further declines in satellite communications.Within 3QFY2024, the compa

Singapore shares inched 0.55% higher this week as Fed signals slower pace of rate cuts. Fed Chair Jerome Powell said on Thursday the central bank did not need to rush to lower interest rates due to ongoing economic growth, a solid job market and inflation that remains above its 2% target.In terms of star stocks, Riverstone jumped 10.99%; Frasers Property gained 3.37%.Market NewsSingTel sees improved full-year growth as half-year profit risesSingapore Telecommunications posted a 6% rise in underlying net profit for the half-year and gave improved guidance for the full year on Wednesday, underpinned by strength at its Australia unit Optus and technology services business NCS.Southeast Asia's largest telecoms provider also said it expects its earnings before interest and tax (EBIT) to grow at

Market SnapshotSingapore stocks opened lower on Friday. STI fell 0.35%; Prime US Reit rose 1.3%; ComfortDelGro fell 1.3%.Stocks to Watch$CapitaLand Ascendas Reit(A17U.SI)$: (Clar): Its manager on Friday said the real estate investment trust (Reit) will acquire a parcel of land in the US that will be developed into a new logistics property at an estimated investment cost of S$94.8 million. On a pro forma basis, the acquisition is expected to be accretive to the Reit’s distribution per unit. Units of Clar ended 0.4 per cent or S$0.01 higher at S$2.62 on Thursday.$Golden-Agri Resources(E5H.SI)$: The palm oil producer’s underlying profit fell 18 per cent on the quarter to US$91 million for its third quar

Market SnapshotSingapore stocks opened lower on Thursday. STI fell 0.3%; SingPost rose 1%; DBS Group fell 1%.Stocks to Watch$Jardine Cycle and Carriage(C07.SI)$: The investment holding company’s earnings for the first nine months of the year were down slightly year on year, it announced on Wednesday. This was due to currency exchange differences that offset higher underlying profits for the group’s businesses in Indonesia, as well as larger sales volumes in Vietnam. Shares of Jardine C&C ended at S$27.85, down S$0.03 or 0.1 per cent, before the news.$StarHub(CC3.SI)$: The telecommunications operator on Wednesday reported a net profit of S$40.4 million for its third quarter, up 11.1 per cent from S