Market Snapshot

Singapore stocks opened higher on Thursday. STI rose 0.4%; SGX rose 1.7%; Genting Singapore rose 1.4%; CapitaLand China Trust fell 0.7%.

Stocks to Watch

Singapore Exchange (SGX): The local bourse’s net profit for the first half ended December rose 20.7 per cent to S$340 million, from S$281.6 million in the previous corresponding period. The increase in bottom line was partly driven by the group’s cash equities and equity derivatives segment, SGX said on Thursday. Its board has also declared an interim quarterly dividend of S$0.09 per share. Shares of SGX closed 0.8 per cent or S$0.10 higher at S$12.43 on Wednesday.

CapitaLand China Trust (CLCT): The manager on Thursday posted a 12 per cent decline in distribution per unit (DPU) to S$0.0264 for the second half ended Dec 31, from S$0.03 in the year-ago period. This brings total DPU for FY2024 to S$0.0565, down 16.2 per cent year on year. Based on the closing price of S$0.73 per unit on Feb 5, CLCT’s distribution yield for the full year was 7.7 per cent. CLCT’s units closed 0.7 per cent or S$0.005 higher at S$0.73 on Wednesday.

CapitaLand Investment (CLI): Its Bursa Malaysia-listed subsidiary CapitaLand Malaysia Trust (CLMT) inked a conditional agreement to buy three freehold industrial properties in the Johor-Singapore Special Economic Zone (SEZ). The properties are located in the SEZ’s industrial and manufacturing hub Senai Airport City. The purchase for a RM72 million (S$22 million) cash consideration will expand CLMT’s industrial and logistics portfolio to include nine properties, and will be financed through existing debt facilities. Shares of CLI closed down 0.4 per cent or S$0.01 at S$2.45 on Wednesday, before the announcement. 

Frasers Hospitality Trust (FHT): The stapled group recorded an improved revenue per available room (RevPAR) in the first quarter ended Dec 31, 2024, amid sustained travel demand. Its key markets all logged higher RevPAR with Japan posting the largest rise of 18.3 per cent to 12,193 yen (S$107.63) from 10,310 yen in the year-ago period, it said on Wednesday. Stapled securities of FHT closed S$0.005 or 0.9 per cent higher at S$0.575 on Wednesday.

Parkway Life Real Estate Investment Trust (Reit): The healthcare Reit posted a 1.3 per cent fall in DPU for its second half ended Dec 31, 2024, to S$0.0738 from S$0.0748 in the corresponding year-ago period. This comes amid its enlarged unit base, after it issued 47.4 million units last November from an equity fundraising exercise, its manager said on Wednesday. Units of Parkway Life Reit gained 1.5 per cent or S$0.06 to S$3.94 on Wednesday, before the announcement.

SG Local News

Blue Christmas for Singapore Retailers as Sales Drop for Second Straight Month in December

Retail sales remained subdued in December 2024, partly due to more residents travelling abroad during the year-end school holidays, analysts say.

Takings declined 2.9 per cent in that period, on the back of a 0.5 per cent decline the previous month, the Department of Statistics noted on Feb 5.

Excluding motor vehicle sales, retail turnover decreased 4 per cent last December, extending the 1.1 per cent decline in November 2024.

More Childcare Leave, Work Flexibility Among MPs’ Suggestions to Support Singapore Families

Members of Parliament from both sides of the aisle put forward a slew of suggestions during a motion on Wednesday (Feb 5) to support Singaporeans in starting and raising families.

Key proposals included increasing childcare leave, making childcare more affordable, improving work-life balance and making home ownership more accessible.

The motion was tabled by MPs Hany Soh (PAP-Marsiling-Yew Tee) and Zhulkarnain Abdul Rahim (PAP-Chua Chu Kang).

COE Premiums Close Mostly Lower, with Category A Prices Dipping to S$85,000

Certificate of Entitlement (COE) premiums fell in the latest bidding exercise on Wednesday (Feb 5), except for prices in the motorcycle category.

The tender that closed on Wednesday is the first under an expanded quota for the February to April quarter.

For small cars in Category A, premiums closed at S$85,000 (US$62,975), the lowest since March 2024. It fell by about S$8,600 from S$93,601 in the last exercise.

Premiums for larger and more powerful cars in Category B fell from S$116,625 to S$111,104.

COEs for commercial vehicles, which include goods vehicles and buses, fell from S$65,476 to S$62,506.

SGX’s H1 Net Profit Rises 20.7% to S$340 Million

The Singapore Exchange (SGX) on Thursday (Feb 6) posted a net profit of S$340 million for the first half ended December, up 20.7 per cent from S$281.6 million in the previous corresponding period.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) for H1 grew 23.4 per cent on the year to S$425.3 million.

Earnings per share (EPS) stood at S$0.318, up from S$0.263 in the year-ago period.

CapitaLand China Trust’S H2 DPU Falls 12% to S$0.0264

The manager of CapitaLand China Trust (CLCT) on Thursday (Feb 6) posted a 12 per cent decline in distribution per unit (DPU) to S$0.0264 for the second half ended Dec 31, from S$0.03 in the year-ago period.

This brings total DPU for FY2024 to S$0.0565, down 16.2 per cent year on year from S$0.0674, and was attributed to an enlarged unit base. Based on the closing price of S$0.73 per unit on Wednesday, CLCT’s distribution yield for the full year was 7.7 per cent.

The China-focused real estate investment trust posted a 6.5 per cent decrease in revenue for the half-year period to S$168.5 million from S$180.2 million, due to a weaker yuan against the Singapore dollar.