To The Moon

Market Snapshot

Singapore stocks opened lower on Friday. STI fell 1%; Nio fell 4%; SIA fell 3%.

Stocks in Focus

$SATS(S58.SI)$ : The in-flight caterer and ground handler on Thursday posted a 13.3 per cent year-on-year rise in Q2 net profit to S$78.9 million, from S$69.7 million. Revenue for the quarter ended Sep 30 increased 8.4 per cent to S$1.6 billion, from S$1.5 billion previously, amid its cargo-handling business’ strong performance and steady contributions from its ground-handling and food services segment. Shares of Sats ended 0.9 per cent or S$0.03 higher at S$3.55 on Thursday, before the announcement.

$Venture(V03.SI)$ : The technology player on Thursday posted net profit of S$55.6 million for the third quarter ended Sep 30. It did not disclose a year-on-year comparison, but this translates to an 8.3 per cent fall from the S$60.6 million net profit posted in a business update for the year-ago period. Q3 revenue dropped 9.1 per cent to S$627.2 million. The counter ended Thursday flat at S$15.06, before the business update.

$Frasers Property(TQ5.SI)$ : Net fair value change and reversal of tax provisions helped the real estate company’s full-year profit increase by 17.8 per cent to S$243.1 million, from S$206.3 million in the previous year, it said on Friday. This was despite a 19.2 per cent fall in revenue from S$4.2 billion in 2024 to S$3.4 billion in 2025. A dividend of S$0.045 per share was proposed. Shares of Frasers Property closed 1 per cent or S$0.01 lower at S$1.04 on Thursday.

$First Resources(EB5.SI)$ : The palm oil producer posted a 43.5 per cent jump in net profit for the third quarter, it said on Friday. The US$87.5 million figure was markedly higher than the US$61 million in the previous corresponding period, due to a combination of higher average selling prices and sales volumes. Shares of First Resources closed 1.4 per cent or S$0.03 lower at S$2.08 on Thursday.

$Bumitama Agri(P8Z.SI)$ : The palm oil producer’s net profit rose 29 per cent year on year to 1.87 trillion rupiah (S$145.7 million) for the nine months ended Sep 30. This came amid an 18 per cent rise in its nine-month revenue to 13.6 trillion rupiah, it said on Thursday. Its revenue was boosted by production recovery and improved productivity. Its shares ended Thursday at S$1.48, down 1.3 per cent or S$0.02.

$StarHub(CC3.SI)$ : The telco posted net profit of S$26.2 million for its third quarter ended Sep 30, down 35.3 per cent from S$40.4 million in the previous corresponding period, and attributed this to lower gross profit from segments with revenue decline. Revenue fell 4.3 per cent to S$550.3 million, from S$575.2 million in Q3 2024. Shares of StarHub closed at S$1.16, down S$0.01 or 0.9 per cent, on Thursday.

$Centurion(OU8.SI)$ : Its revenue rose 9 per cent to S$67.5 million for the third quarter ended Sep 30, amid positive rental revisions across its worker and student accommodation properties. Revenue for the nine months climbed 12 per cent to S$208.3 million, the company said on Thursday. Its shares ended Thursday at S$1.40, up 2.9 per cent or S$0.04, before the business update.

SG Local News

Singapore Air Says Air India’s Struggles Are Hurting Profit

$SIA(C6L.SI)$’s net income slumped to its lowest in three and a half years in the second quarter as challenges at Air India Ltd. continued to hurt its bottom line.

Net income fell 82% from a year earlier to S$52 million ($40 million) in the three months ended Sept. 30, while revenue rose 2.2% to S$4.9 billion, the carrier said Thursday. When stripping out results from associates, SIA’s quarterly operating profit rose about 23% to S$398 million.

The airline said it planned to pay a special dividend of 10 Singaporean cents a share a year over three years, totaling about S$900 million. It also declared an interim dividend of 5 Singaporean cents per share for the first half.

Alleged Scam Leader’s Singapore Aide Seeks Access to Seized Cash

The Singapore family office of alleged scam kingpin Chen Zhi and three companies linked to him are seeking access to funds that were frozen by the city-state’s authorities last month.

The firms have applied for a court order to unfreeze cash in accounts at Malayan Banking Bhd. and Revolut Ltd. for four Singapore firms, according to a document reviewed by Bloomberg News and a lawyer who represents Karen Chen Xiuling, a director and chief financial officer of the family office.

Last month, Chen Zhi, his Cambodian conglomerate Prince Holding Group, and a multitude of companies and individuals connected to him were sanctioned by US authorities. The US Treasury Department accused the 37-year-old of leading a transnational criminal ring that operated online scam centers, stole from victims around the world and laundered billions of dollars. The US also indicted Chen Zhi and seized $15 billion in Bitcoin he controlled.

Following the US action, Singapore authorities in late October seized more than S$150 million ($115 million) in assets linked to Chen Zhi and Prince, including properties, cars and bank accounts.