SG Morning Call | Singapore Stocks Open Lower; MAS Tightens Monetary Policy for the Second Time in a Row
Market Snapshot
Singapore stocks opened lower on Monday. STI rfell 0.7%; Seatrium and iFast rose 2%; Singtel rose 0.5%; Raffles Medical fell 2%.
Stocks in Focus
$Seatrium(5E2.SI)$: The offshore and marine group on Friday said it expects to record “a material year-on year improvement” in net profit for its first half of the year, on the back of divestment gains and progressive margin improvements. Its profit for H2 2025 was at S$179.3 million, up 48.3 per cent year on year. The company will be releasing its H1 FY2026 results on Jul 31. The counter ended S$0.03 or 1.4 per cent down at S$2.13 on Friday, prior to the profit guidance.
$iFast(AIY.SI)$: The digital bank and wealth management platform on Friday posted its second quarter net profit of S$29.8 million, reflecting a 35 per cent increase from S$22.1 million in the same year-ago period. Revenue for the period was up 37.8 per cent on the year at S$142.4 million, from S$103.3 million. Earnings per share stood at S$0.098 for Q2, up from S$0.0731 in the same period a year prior. iFast shares ended 3.1 per cent or S$0.30 down at S$9.28 on Friday, before the results were released.
$Raffles Medical(BSL.SI)$: The healthcare group on Monday reported a net profit of S$29 million for its first half ended Jun 30, down 9.6 per cent from S$32.1 million in the same period a year before. Its overall revenue declined 6.7 per cent year on year to S$353.2 million from S$378.4 million. No interim dividend was declared by the mainboard-listed group. Shares of Raffles Medical declined 0.5 per cent to close S$0.005 down at S$0.95 on Friday before the news.
$Aims Apac Real Estate Investment Trust(O5RU.SI)$ (Reit): The manager of the trust on Friday said its CEO Russell Ng will step down from his position after nearly five years on Sep 30, as he “pursues other professional interests.” Lim Joo Lee, who is currently the Reit’s CFO, has been appointed as CEO-designate. She will succeed Ng as the CEO of the manager on Oct 1, subject to the relevant regulatory approval. Units of Aims Apac Reit closed 0.6 per cent or S$0.01 down at S$1.64 on Friday before the news.
SG Local News
Singapore Central Bank Surprises with Slight Policy Tightening on Inflation Worries
Singapore's central bank unexpectedly tightened its monetary policy settings on Monday, citing inflation concerns.
The Monetary Authority of Singapore (MAS) said it would slightly increase the prevailing rate of appreciation of its exchange rate-based policy band, which is known as the Singapore dollar nominal effective exchange rate (S$NEER).
It said there was no change to the width of the policy band or the level at which it is centred.
COE Quota for August to October up by 0.2%, Category A Certificates to Dip Further
The Certificate of Entitlement (COE) quota for the August to October period will go up slightly to 19,085, a 0.2 per cent increase from the previous quarter, the Land Transport Authority (LTA) said on Friday (Jul 24).
A total of 19,052 COEs were made available for the May to July period.
Bidding under the new quota will start on Aug 3.
The increase is driven by a rise in the Category B quota, which will grow by 6.2 per cent to 5,527.
$(STI.SI)$ $(5E2.SI)$ $(AIY.SI)$ $(BSL.SI)$ $(O5RU.SI)$ $(ES3.SI)$ $(G3B.SI)$ $(GAB.SI)$Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
