SG Morning Call | Singapore Stocks Opened Lower. STI Fell 0.3%; SingPost Rose 1%; DBS Group Fell 1%
Market Snapshot
Singapore stocks opened lower on Thursday. STI fell 0.3%; SingPost rose 1%; DBS Group fell 1%.
Stocks to Watch
$Jardine Cycle and Carriage(C07.SI)$: The investment holding company’s earnings for the first nine months of the year were down slightly year on year, it announced on Wednesday. This was due to currency exchange differences that offset higher underlying profits for the group’s businesses in Indonesia, as well as larger sales volumes in Vietnam. Shares of Jardine C&C ended at S$27.85, down S$0.03 or 0.1 per cent, before the news.
$StarHub(CC3.SI)$: The telecommunications operator on Wednesday reported a net profit of S$40.4 million for its third quarter, up 11.1 per cent from S$36.4 million in the year-ago period. This was despite a 5.8 per cent fall in the group’s top line due to the timing of revenue recognition in the cybersecurity services segment. Prior to the results announcement, shares of StarHub closed 0.8 per cent or S$0.01 lower at S$1.19.
$First Resources(EB5.SI)$: The palm oil producer’s net profit for the third quarter ended Sep 30 rose 19.3 per cent to US$61 million, from US$51.1 million in the previous corresponding period. On Thursday, the company said in a business update the better fiscal performance came amid higher average selling prices, as well as improved processing margins. Shares of First Resources closed 3.1 per cent or S$0.05 lower at S$1.55 on Wednesday.
$Civmec(P9D.SI)$: The construction and engineering services company was awarded a design and construction contract for a new major shiploader that is due for handover in 2028. The project value is estimated to come in at around A$90 million (S$78.5 million) to A$100 million. On Wednesday, the group said its order book remains above A$800 million as it tenders for more projects across all business segments. Civmec shares closed 2.7 per cent or S$0.03 higher at S$1.15, prior to the news.
$GP Industries(G20.SI)$: The battery maker posted a 62.9 per cent year-on-year rise in net profit for the first half of FY2025 to S$14.5 million. This was driven by revenue growth and tighter cost control measures, said the group on Wednesday. An interim dividend of S$0.015 per share was declared, up from S$0.01 per share in the year-ago period. GP Industries shares closed at S$0.49, down S$0.01 or 2 per cent, before the announcement.
$Japan Foods(5OI.SI)$: The group sank into the red with a S$1.6 million net loss for its first half-year ended September 2024 versus a profit of S$81,000 in the same period last year. On Thursday, Japan Foods said its bottom line was hurt by a 10 per cent increase in overall operating expenses. The counter closed flat on Wednesday at S$0.305.
SG Local News
Singapore Expects Even Split of Fresh Graduates, Mid-Career Switchers to Make up 10,000 New AI Workers
About half of Singapore’s intended pipeline of 10,000 new artificial intelligence (AI) workers are expected to come through reskilling programmes, with the other half being fresh graduates, said Senior Minister of State for Digital Development and Information Tan Kiat How on Wednesday (Nov 13).
He was responding to questions in Parliament on how the government intends to treble the AI workforce to 15,000 over the next three to five years, a goal that was announced in December last year.
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