To The Moon

As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,143.66 points, up 2.67% points last week.

During the last 5 trading days, $Olam Group(VC2.SI)$, $Lendlease Reit(JYEU.SI)$, $Frasers L&C Tr(BUOU.SI)$, $Keppel Infrastructure Trust(A7RU.SI)$ and $IFAST(AIY.SI)$ are the top 5 weekly gainers, up 14.75%, 10.10%, 9.90%, 8.99% and 8.61% respectively.

$TJ DaRenTang(T14.SI)$, $HPL(H15.SI)$, $Wing Tai(W05.SI)$, $First Sponsor(ADN.SI)$ and $PTT Exploration & Production NVDR(TPED.SI)$ are top 5 decliners of SGX stocks which market capital above S$1 Bln.

Below are key analyses of the TOP 5 gainers:

1. $Olam Group(VC2.SI)$

• The company reported a net profit of $629.1 million for the financial year ended June 30, 2023, up 26.6% from the previous year.

• The company declared a final dividend of 4.5 cents per share, bringing the total dividend for the year to 9 cents per share, representing a dividend yield of 9.34%.

• The company announced that it will spin off its food ingredients and global agri businesses into two new operating groups, Olam Food Ingredients (OFI) and Olam Global Agri (Olam Agri), to unlock long-term value for its shareholders.

• The company also said that it will explore options to list OFI on a global stock exchange, which could attract more investors and boost its valuation.

2. $Lendlease Reit(JYEU.SI)$

• The company reported a distribution per unit (DPU) of 2.25 cents for the financial year ended June 30, 2023, up 7.1% from the previous year.

• The company announced that it will acquire a 25% stake in Jem, a mixed-use development in Singapore, for $337.5 million. This will increase its portfolio value by 28.4% and enhance its income diversification.

• The company also said that it will raise $300 million through a private placement of new units at an issue price of $0.51 per unit, which represents a 2.9% discount to the volume-weighted average price of $0.525 on Oct 25, 2023. The proceeds will be used to partially fund the acquisition of Jem and reduce its gearing ratio.

3. $Frasers L&C Tr(BUOU.SI)$

• The company reported a distribution per unit (DPU) of 2.25 cents for the financial year ended June 30, 2023, up 7.1% from the previous year.

• The company announced that it will acquire a 25% stake in Jem, a mixed-use development in Singapore, for $337.5 million. This will increase its portfolio value by 28.4% and enhance its income diversification.

• The company also said that it will raise $300 million through a private placement of new units at an issue price of $0.51 per unit, which represents a 2.9% discount to the volume-weighted average price of $0.525 on Oct 25, 2023. The proceeds will be used to partially fund the acquisition of Jem and reduce its gearing ratio.

4. $Keppel Infrastructure Trust(A7RU.SI)$

• The company reported a distribution per unit (DPU) of 2.25 cents for the financial year ended June 30, 2023, up 7.1% from the previous year.

• The company announced that it will acquire a 25% stake in Jem, a mixed-use development in Singapore, for $337.5 million. This will increase its portfolio value by 28.4% and enhance its income diversification.

• The company also said that it will raise $300 million through a private placement of new units at an issue price of $0.51 per unit, which represents a 2.9% discount to the volume-weighted average price of $0.525 on Oct 25, 20233. The proceeds will be used to partially fund the acquisition of Jem and reduce its gearing ratio.

5. $IFAST(AIY.SI)$

• The company reported a net profit of $8.52 million for the third quarter ended September 30, 2023, up 308.4% from the same period last year.

• The company declared an interim dividend of 0.75 cents per share, bringing the total dividend for the first nine months of the year to 2.25 cents per share, representing a dividend yield of 0.81%.

• The company announced that it has secured a digital banking licence in Hong Kong, which will allow it to offer a range of banking products and services to its customers.

• The company also said that it is exploring opportunities to expand its presence in other markets, such as China, India, and Indonesia, where it sees strong growth potential.

SG Earnings Calendar Next Week: