To The Moon

As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,280.69 points, up 2.27% points last week.

During the last 5 trading days, $FRASERS PROPERTY LIMITED(TQ5.SI)$, $YANLORD LAND GROUP LIMITED(Z25.SI)$, $NIO Inc.(NIO.SI)$, $WILMAR INTERNATIONAL LIMITED(F34.SI)$ and $SINGTEL 10(Z77.SI)$ are the top 5 weekly gainers, up 10.46%, 7.52%, 5.42%, 4.11% and 3.86% respectively.

$Olam Group(VC2.SI)$, $OUE COMMERCIAL REIT(TS0U.SI)$, $Cromwell Reit SGD(CWCU.SI)$, $HUTCHISON PORT HOLDINGS TRUST(NS8U.SI)$ and $THOMSON MEDICAL GROUP LIMITED(A50.SI)$ are top 5 decliners of SGX stocks which market capital above S$1 Bln.

Below are key analyses of the TOP 5 gainers:

1. $FRASERS PROPERTY LIMITED(TQ5.SI)$

• The company secured a refinancing for a $1.08 billion green loan for Frasers Tower, a Grade A office building in Singapore’s central business district. The green loan has a lower interest rate than conventional loans and is linked to the environmental performance of the building.

• The company certified four of its Singapore assets with WiredScore Platinum certification, which is a global benchmark for digital connectivity and smart building initiatives. This could enhance the attractiveness and value of its properties to tenants and investors.

• The company has a diverse portfolio of assets across different sectors and geographies, such as residential, commercial, industrial, logistics, hospitality, and business parks in Singapore, Australia, Europe, China, and Southeast Asia. This could provide resilience and growth opportunities for the company in the long term.

2. $YANLORD LAND GROUP LIMITED(Z25.SI)$

• The company announced a joint venture with China Merchants Shekou Industrial Zone Holdings Co., Ltd. to acquire a mixed-use site in Nanjing for RMB 4.5 billion. The site has a total gross floor area of about 1.2 million square meters and is expected to generate strong returns for the company.

• The company reported a higher revenue of RMB 7.4 billion for the second quarter ended June 30, 2023, compared to RMB 5.7 billion for the same period last year. The increase was mainly due to higher recognition of sales from projects in China and Singapore.

• The company has a strong pipeline of projects under development and pre-sale in China and Singapore, with a total pre-sale value of RMB 63.9 billion as of June 30, 2023. The company also has a land bank of about 10 million square meters in prime locations in China.

3. $NIO Inc.(NIO.SI)$

• The company announced a new battery swap station in Beijing, China, which can provide up to 312 battery swaps per day and support both the 70 kWh and the 100 kWh batteries. This could improve the convenience and range of its electric vehicles for its customers.

• The company reported a higher delivery of 22,802 vehicles in August 2023, representing a 48.3% year-over-year growth. The company also maintained its delivery guidance of 23,000 to 25,000 vehicles for the third quarter of 2023.

• The company received a positive rating from Morgan Stanley, which raised its price target for NIO.SI from $12 to $13 and maintained its overweight rating. The analyst cited the company’s strong brand recognition, product innovation, and customer loyalty as key factors for its growth potential.

4. $WILMAR INTERNATIONAL LIMITED(F34.SI)$

• The company announced a joint venture with China Merchants Shekou Industrial Zone Holdings Co., Ltd. to acquire a mixed-use site in Nanjing for RMB 4.5 billion. The site has a total gross floor area of about 1.2 million square meters and is expected to generate strong returns for the company.

• The company reported a higher revenue of RMB 7.4 billion for the second quarter ended June 30, 2023, compared to RMB 5.7 billion for the same period last year. The increase was mainly due to higher recognition of sales from projects in China and Singapore.

• The company received a positive rating from Morgan Stanley, which raised its price target for F34.SI from $4 to $4.49 and maintained its overweight rating. The analyst cited the company’s strong brand recognition, product innovation, and customer loyalty as key factors for its growth potential.

5. $SINGTEL 10(Z77.SI)$

• The company reported a higher revenue of S$3.86 billion for the first quarter ended June 30, 2023, compared to S$3.54 billion for the same period last year. The increase was mainly due to higher contributions from its regional associates and its digital businesses.

• The company announced a joint venture with Grab Holdings Inc., a leading Southeast Asian super app, to apply for a digital full bank license in Singapore. The joint venture aims to leverage the strengths and expertise of both partners to offer innovative and relevant digital banking services to consumers and enterprises.

• The company received a positive rating from DBS Group Research, which raised its target price for Z77.SI from $2.60 to $2.80 and maintained its buy rating. The analyst cited the company’s resilient core business, strong cash flow generation, and attractive dividend yield as key factors for its valuation.