To The Moon

As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,173.58 points, up 0.44% points last week.

During the last 5 trading days, $Frasers Cpt Tr(J69U.SI)$, $SEMBCORP INDUSTRIES LTD(U96.SI)$, $TheHourGlass(AGS.SI)$, $ESR-REIT(J91U.SI)$ and $Keppel(BN4.SI)$ are the top 5 weekly gainers, up 6.93%, 6.81%, 6.71%, 6.67% and 5.96% respectively.

$TJ DaRenTang(T14.SI)$, $Thomson Medical(A50.SI)$, $IFAST(AIY.SI)$, $NIO Inc.(NIO.SI)$ and $SIA 2021 MCBz300608(YQ7B.SI)$ are top 5 decliners of SGX stocks which market capital above S$1 Bln.

Below are key analyses of the TOP 5 gainers:

1. $Frasers Cpt Tr(J69U.SI)$

• Acquisition of Additional Stake in Nex: Frasers Centrepoint Trust (FCT) has agreed to acquire an additional 24.5% interest in Nex, a prominent retail mall in Singapore, for S$523.1 million. This move follows FCT’s initial acquisition of 25.5% in Nex back in February 2023. Upon completion, FCT’s effective interest in Nex will reach 50.0%. The total valuation of Nex, the largest suburban mall in the northeast of Singapore, stands at S$2.13 billion.

• Ex-Dividend Date: On February 1, 2024, FCT’s ex-dividend date occurred, which may have influenced investor sentiment. The stock’s forward dividend yield is 3.81%.

2. $SEMBCORP INDUSTRIES LTD(U96.SI)$

• Green Ammonia Export Deal: Sembcorp Industries’ green hydrogen unit, Sembcorp Green Hydrogen Pte, has partnered with Japanese conglomerate Sojitz Corp and energy major Kyushu Electric Power. The collaboration aims to supply green ammonia produced in India to Japan. This move aligns with Japan’s goal of achieving net-zero emissions by 2050. The deal enhances Sembcorp’s position as a major green energy supplier.

• Solar Projects: Sembcorp’s renewables unit secured a 300 MW solar project from India’s NHPC. Under a long-term power purchase agreement, NHPC committed to buying power output from this project for 25 years. Additionally, Sembcorp won a tender from Singaporean government agency JTC Corporation for the largest solar project in Singapore.

3. $TheHourGlass(AGS.SI)$

• Financial Performance: The company’s financial performance can significantly influence its stock price. For instance, the company reported earnings of $77 million for the first half of FY2024, although this was a 9% year-on-year decrease.

• Share Buybacks: The company has been conducting share buybacks. When a company buys back its shares, it reduces the number of shares available in the market, which can increase the stock price.

• Exchange Rate Movements: The company mentioned that exchange rate movements have impacted its margins. If the exchange rate movements are favorable, they could positively affect the company’s profits and hence its stock price.

4. $ESR-REIT(J91U.SI)$

• New Lease: ESR-Logos REIT has signed a new 20-year master lease with PharmaGend Global Medical Services at more than 35% higher rental than the previous one. This lease represents about 1% of the REIT’s portfolio rental income as at end-September 2023.

• Financial Performance: The company’s financial performance can significantly influence its stock price. For instance, the company reported a revenue of 99.40M SGD, which is a 31.84% increase, and a net income of -11.13M SGD, which is a 93.57% increase.

5. $Keppel(BN4.SI)$

• Financial Performance: The company’s financial performance can significantly influence its stock price. For instance, the company reported a revenue of 1.86B SGD, which is a 10.72% increase, and a net income of 1.82B SGD, which is a 621.79% increase.

• Company Announcements: Keppel DC REIT has reported a distribution per unit (DPU) of 9.383 cents for the FY2023 ended Dec 31, 2023, 8.1% lower y-o-y. Despite the decrease in DPU, the company is taking a “collaborative but firm” approach as it seeks to resolve the current situation of rental arrears at its Guangdong data centres (GDC), after reporting a S$10.5 million loss allowance in the second half of 2023.