Singapore shares fell this week, with the STI dropping 2.52%.

In terms of individual stocks, IFAST rose 22%, Haw Par rose 7%, HPL rose 5%; while BYD HK SDR 10to1, SIA fell 10%, and SingPost fell 8%.

Market News

IFast Posts 37.9% Rise in Q2 Net Profit to S$22.1 Million

Digital bank and wealth management platform iFast Corp reported a 37.9 per cent increase in net profit for the second quarter ended June to S$22.1 million, from S$16 million in the year-ago period.

Earnings per share stood at S$0.0731 for Q2, up from S$0.0538 in the previous corresponding period.

In a bourse filing on Friday (Jul 25), the company reported that revenue for the same period rose 23 per cent to S$103.3 million, from S$84 million previously.

ESR-Reit H1 DPU Inches up 0.2% to S$0.11239

ESR Real Estate Investment Trust (ESR-Reit) may have turned the corner in the first half ended Jun 30, with distribution per unit (DPU) rising 0.2 per cent to S$0.11239, from S$0.1122 in the corresponding year-ago period. 

Speaking at the Reit’s results briefing on Tuesday (Jul 29), Adrian Chui, chief executive officer and executive director of the manager, said that while the 0.2 per cent increase may seem “boring” and “low”, this was a “huge turnaround” from H1 2024, which recorded an 18.6 per cent decline in DPU. 

Core DPU, which excludes other gains, also rose 8.1 per cent year on year to S$0.10765 in the half-year. It accounted for around 96 per cent of total DPU, said the Reit manager. 

Hotel Properties Looks to Redevelop Certain Singapore Properties Via Possible Joint Ventures

Hotel Properties said on Tuesday that several parties have approached the company for the redevelopment of its Forum The Shopping Mall property and adjacent land, which includes the voco Orchard Singapore hotel.

Earlier in the day, Bloomberg News had reported that the company was looking to sell a majority stake in the properties, valuing the assets for at least S$2 billion ($1.55 billion), citing people familiar with the matter.

SIA Q1 Profit Falls 59% to $186 Million; Airline Group Sees Volatile Times Ahead

Singapore Airlines saw its earnings slide 59 per cent in the first quarter of its latest financial year, it announced on July 28 after trading hours.

This was due to lower interest income and the share of losses of associates, SIA said. Net profit dropped to $186 million for the first quarter in the 2025/2026 financial year that ended June 30, down from $452 million in the corresponding period a year ago.

“In addition to the lower operating profit, the reduction in net profit was largely attributable to a lower interest income on the back of lower cash balances and interest rate cuts, and the group recording a share of losses of associated companies compared to a share of profits for the same quarter last year,” SIA said.

The Week Ahead

DBS, UOB, SEMBCORP INDUSTRIES LTD and SGX are set to release their earnings reports next week.