Market Snapshot

Singapore stocks opened higher on Thursday. STI rose 0.3%; Seatrium up 4%; Food Empire up 2%.

Stocks in Focus

Food Empire: The food and beverage company on Wednesday reported a 25 per cent increase in net profit to US$37.1 million for the second half ended Dec 31, 2025, from US$26.8 million in the same period the year before. Revenue rose 20.6 per cent to US$302.9 million from US$251.1 million previously. The board proposed a final dividend of S$0.05 a share and a special dividend of S$0.04 a share. The counter ended 1.8 per cent or S$0.06 lower at S$3.27 on Wednesday, before the release of results.

AEM SGD: The semiconductor equipment maker posted a net profit of S$13.9 million for H2 FY2025, up 32 per cent from S$10.5 million the year before. Revenue for the period rose 1 per cent to S$209.1 million from S$206.8 million in H2 FY2024. The group on Wednesday attributed the improved performance to the “successful ramp-up to high-volume manufacturing” for its second artificial intelligence/high-performance computing customer. Shares of AEM closed down 1 per cent or S$0.02 at S$2.03 on Wednesday, before the news.

YZJ Shipbldg SGD: The shipbuilder posted a net profit of 4.5 billion yuan (S$827.4 million) for the second half ended Dec 31, 24.6 per cent higher than the 3.6 billion yuan recorded in the corresponding year-ago period. Revenue stood at 15.6 billion yuan, a 15.8 per cent year-on-year increase from 13.5 billion yuan. The group on Wednesday attributed the improvement partly to a greater number of vessel deliveries and steady progress in construction activities. The counter closed Wednesday down 2.8 per cent or S$0.011 at S$3.85, before the news.

Hong Leong Asia: The company on Wednesday reported a 48.6 per cent increase in net profit for its half year ended Dec 31, to S$56.8 million, from S$38.2 million the year prior. Revenue stood at S$2.5 billion for the period, up 26.2 per cent from S$2 billion in the corresponding period the year before. The board has proposed a final dividend of S$0.03 per share. Shares in Hong Leong Asia ended 10.3 per cent or S$0.35 lower at S$3.05 on Wednesday, prior to the release of results.

Hong Leong Fin: The group on Wednesday announced a 40.8 per cent fall in net profit from S$51.5 million to S$30.5 million for the six months ended Dec 31. A final tax-exempt, one-tier dividend of S$0.0615 per share was proposed for the full-year ended Dec 31. The dividend is payable on May 21, subject to shareholders’ approval. The counter ended 0.7 per cent or S$0.02 lower at S$2.72 on Wednesday, prior to the results release.

SingaporeLandGrp: The property developer on Wednesday reported a 11 per cent drop in net profit for H2 FY2025 to S$160.9 million from S$180.5 million in the previous corresponding period. Revenue rose 6 per cent to S$414.9 million from S$390.5 million previously. This was largely driven by contributions from a newly acquired commercial building in Sydney, Australia, and improved performance of Singapore assets. Shares of Singapore Land closed down 1.6 per cent or S$0.06 at S$3.75 on Wednesday, before the news.

Sasseur Reit: The manager of the trust on Thursday posted a distribution per unit (DPU) of S$0.03083 for the second half of FY2025, up 5.3 per cent year on year from S$0.02929. It will be paid to unitholders on Mar 26. Distributable income for the period was S$43.3 million, a rise of 6.5 per cent from the S$40.6 million a year prior. Units in Sasseur Reit ended flat at S$0.685 on Wednesday.

Acro HTrust USD: Its distribution per stapled security for the second half was down 50.7 per cent year on year at US$0.00418. Its H2 revenue declined 5.1 per cent year-on-year to US$80.5 million on the back of a reduction in portfolio size. Units of the trust closed flat at US$0.255 on Wednesday.

Nanofilm: The company on Wednesday reported an 11.3 per cent fall in net profit for the second half ended Dec 31 to S$10.2 million, from S$11.5 million the year before. Revenue rose 13 per cent on the year to S$137.4 million, from S$121.6 million previously. This was driven by sustained demand within its advanced materials business unit and a recovery in its industrial equipment segment. The counter ended Wednesday down 1.5 per cent or S$0.01 at S$0.645, before the news.

SG Local News

Singapore Banks Draw $61 Billion in New Wealth From Asia’s Rich

Singapore’s three biggest banks pulled in a combined S$77 billion ($61 billion) in net new wealth money last year as geopolitical tensions and trade uncertainty pushed Asia’s rich to move more assets to the city-state.

Oversea-Chinese Banking Corp. said Wednesday that net new money rose 30% to S$27 billion, lifting wealth assets under management to a record S$343 billion.

The results follow similar disclosures from DBS Group Holdings Ltd., which reported S$39 billion in fresh inflows, bringing its wealth AUM to S$488 billion. United Overseas Bank Ltd. reported S$11 billion in net new money, with high-net-worth AUM reaching S$201 billion.

Seatrium H2 Profit up 48.3%, Full-Year Profit Doubles on Margin Expansion

Marine engineering company Seatrium reported a net profit of S$179.3 million for the second half, a 48.3 per cent increase from S$120.9 million in the same period a year earlier.

For the full year, the offshore and marine specialist’s net profit was up 106 per cent at S$323.6 million from S$156.8 million in FY2024.

The H2 and full-year earnings increases were mainly attributed to higher contributions from revenue recognition, a higher share of profit from associates, and lower net finance costs. However, this was partially offset by higher tax expenses, the company said on Thursday (Feb 26).

Deliveroo to Wind Down Operations in Singapore; Final Day of Service on March 4

Delivery platform Deliveroo will exit the Singapore market on March 4, it said in a statement on its website on Feb 25.

All employees at its Singapore office will be affected by the move, Deliveroo said in a media reply, though it did not say how many would be impacted.

A Business Times report in end-2022 stated that the company has about 80 staff here, with a pool of about 10,000 delivery riders who were active at least once in the past month.