Market Snapshot

Singapore stocks opened lower on Friday. STI fell 0.07%; SIA up nearly 2% after earnings; AEM SGD up over 6%; UMS up over 5%; ThaiBev, CSE Global up over 2%; Singtel down 1%; Centurion down 4%.

Stocks in Focus

Singapore Airlines (SIA): The flag carrier announced on Thursday evening that its earnings for its second half ended March more than halved year on year to S$945.5 million from S$2 billion. It attributed the 53.6 per cent reduction in H2 net profit largely to the absence of a one-off, non-cash accounting gain of S$1.1 billion. This was from the disposal of the Vistara airline and recognised in the year-ago period. SIA shares finished 0.2 per cent or S$0.01 lower at S$6.27, before the results were announced.

Marco Polo Marine: The marine logistics firm on Friday posted a 9 per cent rise in net profit to S$11.6 million for its first half ended Mar 31, up from S$10.6 million in the year-ago period. Ship chartering revenue rose 38 per cent to S$44.3 million, from S$32 million previously. Separately, it announced a proposed reverse takeover of Catalist-listed Fuji Offset Plates Manufacturing. The aluminium offset plates manufacturer is proposing to acquire Marco Polo Shipyard and MP Marine, which wholly own and operate the group’s shipyard business, in a deal valued at S$139 million. Marco Polo ended Thursday 2.3 per cent or S$0.004 higher at S$0.18, before the news.

First Resources: The Indonesia palm oil producer posted a net profit of US$96.6 million for its first quarter ended Mar 31, up by 53.1 per cent from US$63.1 million in the year-ago period. Sales grew 70.4 per cent to US$477.2 million, from US$280 million previously, amid stronger production output alongside increased purchases of fresh fruit bunches and palm oil products from third parties. The counter closed Thursday 3.5 per cent or S$0.13 higher at S$3.81, before the results release.

Netlink NBN Trust: The fibre network operator on Thursday posted a 1.1 per cent rise in distribution per unit (DPU) to S$0.0271 for the half year ended Mar 31, as more government project completions drove top-line growth. H2 revenue was up 2.1 per cent to S$206.3 million, thanks to higher revenue from the ancillary project, co-location and central office segments. NetLink ended Thursday flat at S$1.02.

ThaiBev: ThaiBev’s profit dipped 3.2 per cent to 14.2 billion baht (S$559.5 million) for its first half ended Mar 31, largely attributed to a non-recurring item related to an impairment loss from the discontinued operations of a joint venture. Excluding this one-off loss, the group’s attributable profit from normal business operations would have increased 8.5 per cent year on year to 16 billion baht. Shares of ThaiBev closed flat at S$0.42 on Thursday, before the results were announced.

CSE Global: The systems integration specialist posted a 29.1 per cent rise in revenue to S$265.2 million for the three months ended Mar 31, boosted by fresh demand from the data centre industry. CSE’s Q1 order intake also rose 74.6 per cent to S$271.2 million. The company ended Thursday at S$1.69, up by S$0.05 or 3.1 per cent.

Aspial Lifestyle and Aspial Corporation: Consumer lifestyle group Aspial Lifestyle on Thursday announced a proposed equity fund raising to raise gross proceeds of about S$84.8 million. Controlling shareholders Aspial Corporation and non-executive chairman Koh Wee Seng will subscribe for their full provisional allotments of 43.7 million and 6.1 million preferential offering shares, respectively. Shares of Aspial Lifestyle closed flat at S$0.44 on Wednesday, before a Thursday trading halt, while those of Aspial Corporation rose 0.6 per cent to close at S$0.165.

CNMC Goldmine: Catalist-listed gold producer CNMC Goldmine said on Thursday it is seeking a transfer of its listing to the mainboard of the Singapore Exchange (SGX) to raise its corporate image and gain access to a wider investor base. Shares of CNMC Goldmine dipped S$0.07 or 4.9 per cent to S$1.35 on Thursday before the announcement.

Eagle Hospitality Reit: The real estate investment trust (Reit) has received approval from the Singapore Exchange on Thursday to delist its stapled securities. The date and time of the delisting will be announced at least two business days before the date of the proposed delisting.

SG Local News

Steady Trading Across Asset Classes as SGX Securities Turnover Rises 6% in April

The Singapore Exchange (SGX) posted steady trading activity in April, driven by strong retail participation in small and mid-cap stocks, as well as growing open interest in key derivatives across multiple asset classes. 

This follows what SGX described as a “robust” performance in March.

The total securities market turnover value on SGX rose 6 per cent year on year to S$43.2 billion in April, the bourse’s monthly market statistics report released on Wednesday (May 13) indicated.