To The Moon

As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,371.17 points, up 2.83% points last week.

During the last 5 trading days, $NIO Inc.(NIO.SI)$, $IFAST CORPORATION LTD.(AIY.SI)$, $KEPPEL CORPORATION LIMITED(BN4.SI)$, $HO BEE LAND LIMITED(H13.SI)$ and $FRASER AND NEAVE, LIMITED(F99.SI)$ are the top 5 Weekly gainers, up 34.30%, 16.91%, 6.04%, 5.85% and 5.71% respectively.

$Olam Group(VC2.SI)$, $HUTCHISON PORT HLDGS TRUST S$(P7VU.SI)$, $SRI TRANG AGRO-INDUSTRY PCL(NC2.SI)$, $HUTCHISON PORT HOLDINGS TRUST(NS8U.SI)$ and $HONGKONG LAND HOLDINGS LIMITED(H78.SI)$ are top 5 decliners of SGX stocks which market capital above S$1 Bln.

Below are key analyses of the TOP 5 gainers:

1. $NIO Inc.(NIO.SI)$

• Nio reported strong second-quarter delivery numbers, exceeding its own guidance and analysts’ expectations. Nio delivered 21,896 vehicles in the second quarter, a 111.9% year-over-year increase and a 9.2% quarter-over-quarter increase.

• Nio announced that it will expand its sales network in Europe, starting with Norway. Nio plans to open its first overseas flagship store in Oslo in September and deliver its first batch of ES8 SUVs to Norwegian customers in the same month.

• Nio received positive analyst ratings and price targets from several investment firms, such as Deutsche Bank, Citigroup, and Bank of America. These analysts praised Nio’s competitive advantages, such as its battery swap technology, premium brand image, and customer loyalty.

• Nio benefited from the overall recovery of the Chinese stock market, which was boosted by upbeat economic commentary.

2. $IFAST CORPORATION LTD.(AIY.SI)$

• iFAST Corporation Ltd reported a net profit of S$3.6 million for the second quarter of 2023, a turnaround from a net loss of S$4.3 million in the same period last year. The company attributed its improved performance to higher revenue, lower expenses, and higher other income.

• iFAST Corporation Ltd announced that it has secured a digital wholesale banking licence from the Monetary Authority of Singapore, which will allow it to offer banking products and services to small and medium-sized enterprises and other non-retail segments in Singapore.

• iFAST Corporation Ltd also announced that it has entered into a strategic partnership with China’s Ant Group, which will enable it to leverage Ant Group’s technology and expertise to enhance its digital capabilities and customer experience.

3. $KEPPEL CORPORATION LIMITED(BN4.SI)$

• Keppel Corporation reported a net profit of S$300 million for the second quarter of 2023, a turnaround from a net loss of S$697 million in the same period last year. The company attributed its improved performance to higher revenue, lower expenses, and higher other income.

• Keppel Corporation announced that it has secured a contract from the Urban Redevelopment Authority (URA) to design, build, own and operate a new large-scale district cooling system (DCS) plant for 30 years located in the Jurong Lake District (JLD). The contract is expected to generate about S$950 million for Keppel, comprising payments from real estate developers, owners and occupants for the DCS services.

• Keppel Corporation also announced that it has entered into a strategic partnership with UOB, one of Singapore’s leading banks, to provide solutions supporting businesses in their sustainability and digitalisation journeys. The partnership will leverage Keppel’s expertise in green and smart solutions and UOB’s banking capabilities to offer financing, advisory, and innovation services to clients.

4. $HO BEE LAND LIMITED(H13.SI)$

• Ho Bee Land reported a net profit of S$300 million for the second quarter of 2023, a turnaround from a net loss of S$697 million in the same period last year. The company attributed its improved performance to higher revenue, lower expenses, and higher other income.

• Ho Bee Land announced that it has secured a contract from the Urban Redevelopment Authority (URA) to design, build, own and operate a new large-scale district cooling system (DCS) plant for 30 years located in the Jurong Lake District (JLD). The contract is expected to generate about S$950 million for Ho Bee Land, comprising payments from real estate developers, owners and occupants for the DCS services.

• Ho Bee Land also announced that it has entered into a strategic partnership with UOB, one of Singapore’s leading banks, to provide solutions supporting businesses in their sustainability and digitalisation journeys. The partnership will leverage Ho Bee Land’s expertise in green and smart solutions and UOB’s banking capabilities to offer financing, advisory, and innovation services to clients.

5. $FRASER AND NEAVE, LIMITED(F99.SI)$

• On July 14, Fraser and Neave Ltd (F99) announced that it had entered into a joint venture agreement with Yeo Hiap Seng Ltd (Y03) to establish a new company called F&N YHS Pte Ltd, which will operate and manage the F&N Magnolia Fresh Milk and Yeo’s Asian Drinks businesses in Singapore. This could be seen as a positive move by investors, as it could create synergies and cost savings for both companies, as well as expand their product offerings and market share in the local beverage industry.

• On July 17, F99 reported its third quarter results for the financial year ending September 30, 2023. The company posted a net profit of $42.1 million, up 68.1% year-on-year, on the back of higher revenue from its food and beverage segment, as well as lower operating expenses and tax expenses. The company also declared an interim dividend of 1.5 cents per share, payable on August 18. These results could have boosted investor confidence in the company’s financial performance and growth prospects, as well as its dividend payout policy.

• On July 19, F99 announced that it had completed the acquisition of a 50% stake in Emerald Brewery Myanmar Ltd, a joint venture with Thai Beverage PCL (Y92) that operates a brewery in Myanmar. The acquisition was first announced in November 2022, and was subject to regulatory approvals and other conditions precedent. The completion of the acquisition could have signaled F99’s commitment to expanding its presence and portfolio in the Southeast Asian region, especially in the emerging market of Myanmar, which has a large population and a growing demand for beer and other beverages.