To The Moon

As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,176.51 points, down 1.26% points last week.

During the last 5 trading days, $Riverstone(AP4.SI)$, $Emperador Inc.(EMI.SI)$, $First Sponsor(ADN.SI)$ $First Sponsor(ADN.SI)$, $t PTTEP TH SDR(TPED.SI)$ and $UOB(U11.SI)$ are the top 5 weekly gainers, up 3.95%, 3.49%, 2.68%, 2.04% and 1.22% respectively.

$Mapletree Log Tr(M44U.SI)$, $Gulf TH SDR(TGED.SI)$, $DFIRG USD(D01.SI)$, $Delta TH SDR(TDED.SI)$ and $NIO Inc.(NIO)$ are top 5 decliners of SGX stocks which market capital above S$1 Bln.

Below are key analyses of the TOP 5 gainers:

1. $Riverstone(AP4.SI)$

• Riverstone is a Malaysian-based rubber glove manufacturer, primarily operating in two key product areas: cleanroom gloves and medical gloves.

• Riverstone stock surged nearly 6% last Monday. As BERNAMA reported on 10th April, despite the current oversupply situation, demand for medical and surgical rubber gloves increased last month and It's anticipated that this oversupply will reach equilibrium by 2025.

• Furthermore, with expectations of a delayed interest rate cut by the Federal Reserve and amidst a prolonged high-interest-rate environment, a UOB Kay Hian report suggests that companies with ample free cash flow are poised to benefit. Among locally listed small to mid-cap stocks in the Singapore market, Riverstone ranks at the forefront with a cash reserve exceeding S$200 million.

2. $Emperador Inc.(EMI.SI)$

Emperador Inc., as the first Philippine listed company to conduct a secondary listing on the SGX-ST Mainboard, has continuously drawn attention from the market.

Emperador released its full-year 2023 financial report earlier last week:

• Revenue increased by 4.6 percent YoY to P65.64 billion from P62.76 billion, driven by the sustained strong performance of whisky.

• Last year, the group's whisky segment reported a net income of P4.98 billion, marking a 20.8 percent increase from the previous year's level of P4.13 billion, driven by a 16.3 percent revenue improvement to P25.67 billion.

3. $First Sponsor(ADN.SI)$

• First Sponsor Group Limited is a mixed property developer in Netherlands and China, an owner of commercial properties (including hotels) and a provider of property financing services mainly in Netherlands, Germany, and China.

• The group released its full-year performance report for the previous year at the beginning of April, along with disclosing that the Board has recommended a final tax-exempt (one-tier) cash dividend of 3.1 Singapore cents per share for FY2023.

• The ex-dividend date is expected to be on 7th May, 2024.

4. $t PTTEP TH SDR(TPED.SI)$

• PTTEP is a national petroleum exploration and production company based in Thailand.

• Due to the risk of war between Iran and Israel, prices of commodities such as oil and natural gas experienced significant fluctuations last week. PTTEP shares surged on both Wednesday and Friday, influenced by the war situation.

5. $UOB(U11.SI)$

• Wee Ee Cheong, the Chief Executive and Deputy Chairman of the United Overseas Bank group, stated last Thursday that UOB's target of achieving a return on equity (ROE) of 14 percent is considered 'decent'. Wee further noted that there is potential for the group's ROE to increase if the bank's fees from its wealth business or trading activities perform well.

• According to a filing made with the Singapore Exchange on Tuesday, the Australia branch of United Overseas Bank submitted a request for the Singapore listing of AU$300 million of fixed-rate bonds due in 2027 and AU$950 million of floating-rate bonds due in 2027.