Market Snapshot

Singapore stocks opened lower on Tuesday. STI fell 1.3%; Sembcorp fell 3.2%; UOL fell 2.4%; DBS fell 2%; SIA fell 1.8%; OCBC fell 0.8%.

Stocks to Watch

DFIRG USD: The supermarket and retail store operator posted a 29.7 per cent rise in underlying profit to US$200.6 million for its full year ended Dec 31, 2024, from US$154.7 million in the previous corresponding period. This comes even as full-year revenue fell 3.3 per cent to US$8.9 billion from US$9.2 billion in the year-ago period, said the group in a bourse filing on Monday. The group’s net loss for the year stood at US$244.5 million, down from a net profit of US$32.2 million in the prior year. Loss per share stood at US$0.1817 for the period, down from earnings per share of US$0.0239 a year ago. The group declared a final dividend of US$0.07 per share, up from US$0.05 per share in the previous year, to be paid on May 14. This would bring the total dividend for the year to US$0.105 per share, up from US$0.08 per share in the year-ago period. DFI ended Monday flat at US$2.12, before the results were made public.

JMH USD: The Hong-Kong based conglomerate on Monday logged an 11.4 per cent decline in underlying profit to US$1.5 billion for its full year ended Dec 31, 2024, from US$1.7 billion in the previous corresponding period. This comes as full-year revenue fell some 0.7 per cent to US$35.8 billion from US$36 billion in the year-ago period. The group’s net loss for the year stood at US$468 million, down from a net profit of US$686 million in the prior year. Loss per share stood at US$1.61 for the period, down from earnings per share of US$2.37 a year ago. The group declared a final dividend of US$1.65 per share, which amounts to an unchanged full-year dividend of US$2.25 per share, to be paid on May 14. Shares of Jardine Matheson closed up 0.5 per cent or US$0.20 to US$39.70 on Monday, before the announcement.

SG Local News

Singapore Firms Need Better Climate Reporting as New Rules Loom

Singapore’s listed companies need to improve climate disclosures as regulators are set to impose new standards starting this year, a new study has found.

Fewer than a third of issuers provided all 11 disclosures recommended by the Task Force on Climate-Related Financial Disclosures, according to the study from Singapore Exchange Regulation and the National University of Singapore released Tuesday. It reviewed the latest sustainability reports published through July from 529 companies.

One of the biggest holes was around disclosing greenhouse gas releases from clients or suppliers, with only 29% of the firms reporting these so-called Scope 3 emissions, according to the study.

Singapore Exchange to List Open-Ended Bitcoin Futures Contracts

Singapore Exchange Ltd. plans to list Bitcoin perpetual futures as traditional exchanges push deeper into crypto derivative markets.

Singapore’s largest exchange group intends to launch the contracts in the second half of 2025, a spokesperson said in an emailed statement. The company will strictly target institutional clients and professional investors, with retail customers barred from trading the instruments.

The move is the latest sign that established exchange operators are branching out into Bitcoin derivatives, as US President Donald Trump’s pro-crypto agenda boosts demand for digital assets exposure. Bloomberg News reported on March 4 that Japan’s Osaka Dojima Exchange Inc., which traces its roots to the 18th century, is planning to seek approval to list Bitcoin futures.