Singapore Daily Briefs | Page 22 of 116

Feb 07

Daily Brief Singapore: SGX Rubber Future TSR20 and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

MJO To Induce Rains, But Dry Conditions Likely To Dominate

MJO To Induce Rains, But Dry Conditions Likely To Dominate

By Vinod Nedumudy

Heavy rain may occur in east Indonesia during one-month period
Disruption to rubber production may be mostly from heat
WEF, WMO seek private contribution for early weather warning

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Feb 06

Daily Brief Singapore: Marco Polo Marine, SGX Rubber Future TSR20, UOB and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

kopi-C with Marco Polo Marine’s CEO: ‘We want to be an offshore wind leader in Asia’
Tariffs Will Affect Tire Industry; Rubber Market
Upcoming Earnings Reports: DBS, OCBC, and UOB in Focus

kopi-C with Marco Polo Marine’s CEO: ‘We want to be an offshore wind leader in Asia’

By Geoff Howie

Marco Polo Marine shifted focus to the offshore wind sector in Asia, achieving profitability with S$123.5 million revenue and S$21.7 million profit for 2024.
The company repurposed assets from offshore oil and gas to offshore wind, expanding operations in Taiwan, South Korea, and Japan.
Marco Polo Marine is enhancing its infrastructure with a new commissioning service operation vessel and a fourth drydock to support offshore wind projects.

Tariffs Will Affect Tire Industry; Rubber Market

By Farah Miller

Tire industry to be a collateral damage in the tariff battle
91% of projected light truck tire requirement is import reliant
Trade balance tipping towards China and Canada

Upcoming Earnings Reports: DBS, OCBC, and UOB in Focus

By Geoff Howie

The combined weightage of DBS, OCBC, and UOB in the Straits Times Index increased to 54.3%.
Analysts revised the 12-month Consensus Estimate Target Prices for DBS, OCBC, and UOB upwards in 2024.
DBS launched a S$3 billion share buyback program, marking its first share cancellation after buybacks.

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Feb 05

Daily Brief Singapore: Grab Holdings , Selamat Sempurna, AEM, Singtel, Keppel REIT and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

Grab Holdings (GRAB US) – GoTo Merger Rears Its Head?
Company Spotlight: Delfi
Singapore Stocks with the Most Net Retail Buy & Sells in Early 2025
STI Begins New Year with 1.8% Return, Led by Singtel & Seatrium
REIT Watch – Singapore-based Office S-REITs report stronger operational performance

Grab Holdings (GRAB US) – GoTo Merger Rears Its Head?

By Angus Mackintosh

Press reports suggest that a merger between GoTo Gojek Tokopedia and Grab is back on the table, which is ironic given the progress of both companies towards profitability.
Any merger may encounter anti-trust issues in Indonesia, with some fallout for drivers and potentially merchants, which may encounter resistance from the government and even potential demonstrations but not insurmountable.
Grab should book a net profit in 2025 plus higher growth, as its barbell strategy gains traction, but a GoTo merger could move the dial towards much higher profitability.

Company Spotlight: Delfi

By Geoff Howie

Company Spotlight: Delfi

Singapore Stocks with the Most Net Retail Buy & Sells in Early 2025

By Geoff Howie

Retail investors net bought S$487 million in Singapore shares since end-2024, focusing on Financial Services, REITs, Technology.
Non-STI stocks with highest net retail buying: Keppel REIT, AEM Holdings, CapitaLand India Trust, CapitaLand Ascott Trust, iFAST Corporation.
SGX-listed REIT ETFs attracted S$38 million net inflows in 2025, increasing AUM to over S$1 billion.

STI Begins New Year with 1.8% Return, Led by Singtel & Seatrium

By Geoff Howie

Banks DBS, OCBC, and UOB, accounting for 54% of STI’s weight, averaged 3.2% returns in January 2025.
Institutions were net sellers of Singapore stocks, with a net outflow exceeding S$500 million in January 2025.
Keppel Pacific Oak REIT led the S-REIT sector with a 17.1% return in USD terms in January 2025.

REIT Watch – Singapore-based Office S-REITs report stronger operational performance

By Geoff Howie

Keppel REIT’s FY2024 property income and NPI increased by 12.2% and 10.7% year-on-year, with a 13.2% rental reversion.
MPACT’s 3Q FY24/25 gross revenue and NPI decreased by 7.4% and 8.5% year-on-year, with a 9.1% DPU dip.
OUE REIT’s FY2024 revenue grew 3.7% year-on-year, with a 94.6% occupancy rate and 10.7% rent reversion.

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Feb 04

Daily Brief Singapore: SGX Rubber Future TSR20 and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

La Nina-triggered Floods Make Serious Dent In Thai Rubber Production

La Nina-triggered Floods Make Serious Dent In Thai Rubber Production

By Vinod Nedumudy

Rubber production in December suffers a loss of 30%
Yokohama Rubber plays Good Samaritan in hour of crisis
CMO enabling FSC Certification for Thai rubber for EUDR

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Feb 01

Daily Brief Singapore: SGX Rubber Future TSR20, BitFuFu and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

Rubber Board Launches Twin Projects To Propel Indian NR
FUFU: BitFuFu – A World-Leading Hashpower Service Provider

Rubber Board Launches Twin Projects To Propel Indian NR

By Vinod Nedumudy

iSNR (Indian Sustainable Natural Rubber) to deal with EUDR
INR Konnect to help idling plantations come alive
iSNR to fetch a premium of 10-35% in global markets

FUFU: BitFuFu – A World-Leading Hashpower Service Provider

By Water Tower Research

BitFuFu is a leading cryptocurrency miner and hosting provider with 26.2 EH/s hashrate under management, 556 mw of hosting capacity, 17 worldwide mining facilities, and 455K+ registered users.
With the new US administration coming in, bitcoin, and cryptocurrencies in general, have been on an upswing.
The thinking is that the US regulatory environment will be cleared up and that should bring in more institutional buyers.

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Jan 29

Daily Brief Singapore: Japfa Ltd, SLB Development, Bund Center Investment, Hyphens Pharma International, UOB Kay Hian Holdings and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

Japfa (JAP SP): The Santosa Family (Finally) Makes A Move
SLB Dev (SLB SP): Ong Family Offer By Way Of A Scheme.
Bund Center Investment (BTE SP): A Dominant Real Estate Play on the Bund
Hyphens Pharma (HYP SP): ASEAN’S Leading Specialty Pharma Company
10 in 10 with International Cement Group – Tapping growth opportunities in Central Asia

Japfa (JAP SP): The Santosa Family (Finally) Makes A Move

By David Blennerhassett

Back in March of last year, Bloomberg reported,that Renaldo Santosa and his family, who collectively controlled ~75.5% of agri-play Japfa Ltd (JAP SP), were considering taking Japfa private.
This was discussed in Japfa (JAP SP): Impressive Gain. But No Firm Offer. Then crickets.
The family has now pitched an Offer of S$0.62/share, by way of a Scheme, a 34.8% premium to undisturbed. That’s probably enough to get this over the line.

SLB Dev (SLB SP): Ong Family Offer By Way Of A Scheme.

By David Blennerhassett

Singaporean property play SLB Development (SLB SP) has announced an Offer, by way of a Scheme, from Lian Beng (LBG SP)‘s Ong family, at S$0.23/share, a 36.1% premium to undisturbed.
Lian Beng, which was privatised by the Ong family in 2023 – see Lian Beng: Circ Out. IFA (Rightfully) Says Not Fair – holds 77.6% in SLB.
This is done. No competing offer will emerge. I don’t think this needs a bump.

Bund Center Investment (BTE SP): A Dominant Real Estate Play on the Bund

By Kilde

Bund Center Investment (BCI) is a diversified investment vehicle with two commercial real estate assets: the landmark Westin Bund Center Hotel, and its premium office space, Bund Center Office Tower in Shanghai.
BCI operates under two business segments: Hotel Operations and Property Leasing.
Despite short-term hurdles, long-term economic growth in China provides a supportive backdrop.

Hyphens Pharma (HYP SP): ASEAN’S Leading Specialty Pharma Company

By Kilde

Hyphens Pharma (HYP SP EQUITY) is Singapore’s leading specialty pharmaceutical and consumer healthcare group, leveraging on its diverse footprints in ASEAN countries. Its core business lies in three segments: Specialty Pharma Principals, Proprietary Brands, and Medical Hypermart and Digital.
Based on its scalable business model, direct access to the five countries in the southeast Asia region enabling it to capture health expenditure growth in ASEAN countries, sustainable growth from both in-house product innovation and in-licensing cooperation, as well as realization of DocMed’s potential when rolling out the digital platform to other ASEAN markets, Hyphens Pharma will demonstrate sustainable growth momentum and optimistic investment value in the future.
Revenue in 2024 full year is expected to show a strong rebound compared to 2023.

10 in 10 with International Cement Group – Tapping growth opportunities in Central Asia

By Geoff Howie

10 Questions for International Cement Group What are some of your business segments, and how are they performing? International Cement Group’s principal business is in the production and distribution of cement in two major countries in Central Asia – Kazakhstan and Tajikistan – accounting for more than 95% of revenue.
Why is this a focus market for International Cement Group, and how does the Group navigate potential challenges?.

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Jan 28

Daily Brief Singapore: SGX Rubber Future TSR20, Rex International Holding, ESR-LOGOS REIT, Yangzijiang Shipbuilding and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

IFC’s US$I25 Million Boost To Tire Manufacturing In India, Pakistan
LHN Led 5-Year Returns Among Latest Catalist-to-Mainboard Graduates
REIT Watch – Industrial S-REITs operating performance remain resilient, with positive rental reversions in 2024
Huationg Global’s Patrick Ng enhances stake amid robust business prospects

IFC’s US$I25 Million Boost To Tire Manufacturing In India, Pakistan

By Vinod Nedumudy

Greenfield tire production facility to come up in Sindh, Pakistan
JK Tyre to get US$100 million sustainability loan for expansion
Sustainability-linked loan a first in India’s tire industry

LHN Led 5-Year Returns Among Latest Catalist-to-Mainboard Graduates

By Geoff Howie

The five most recent Catalist-to-Mainboard graduates span different sectors and achieved 9.4% median annualised total return over five years.
LHN led with a 41% annualised total return, followed by Grand Venture Technology with a 28% annualised total return, while Rex International saw a 4% decline in annualised total return over the five years.
LHN also recorded the highest 5-year total returns among the five stocks, with an annualised total return of 41.4%, which includes the 2.0% gain over the past four weeks.

REIT Watch – Industrial S-REITs operating performance remain resilient, with positive rental reversions in 2024

By Geoff Howie

Industrial REITs listed on SGX Market Cap (S$B) 12-Month Distribution Yield (%) Sabana Industrial REIT reported positive rental reversion of per cent for 4Q 2024, while its full year rental reversion rose to 20.6 per cent, its fourth consecutive year of double-digit positive rental reversion.

Huationg Global’s Patrick Ng enhances stake amid robust business prospects

By Geoff Howie

Over the five trading sessions from Jan 17 to Jan 23, institutions were net sellers of Singapore stocks, leading to net institutional outflow of S$393 million, adding to the S$184 million net outflow over the preceding five sessions.
Stocks that led the net institutional outflow over the five sessions through January 16 were DBS Group Holdings, CapitaLand Investment, Oversea-Chinese Banking Corp, CapitaLand Ascendas REIT, Yangzijiang Shipbuilding Holdings, SATS, Keppel, Mapletree Industrial Trust, CapitaLand Integrated Commercial Trust, and Singapore Telecommunications.
As of Jan 23, Top Glove Corporation Bhd recorded the eighth highest net institutional inflow in the Singapore stock market for the month.

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Jan 27

Daily Brief Singapore: SLB Development and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

SLB Development (SLB SP): Ong Family’s S$0.23 Scheme Offer

SLB Development (SLB SP): Ong Family’s S$0.23 Scheme Offer

By Arun George

SLB Development (SLB SP) disclosed a scheme privatisation from Lian Beng (LBG SP) at S$0.23 per share, a 36.1% premium to the undisturbed price of S$0.169 (22 January).
The Ong family previously privatised Lian Beng, the parent company. The offer price, which is equal to the IPO price, is attractive compared to peer multiples and historical trading ranges.
The scheme vote is low-risk, as no disinterested shareholder holds a blocking stake, and the offer is attractive. Expect a scheme meeting in April.

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Jan 26

Daily Brief Singapore: Japfa Ltd and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

Japfa (JAP SP): Santosa Family’s S$0.62 Scheme Offer

Japfa (JAP SP): Santosa Family’s S$0.62 Scheme Offer

By Arun George

Japfa Ltd (JAP SP) disclosed privatisation through a scheme of arrangement from the Santosa family at S$0.62 per share, a 34.8% premium, to the undisturbed price of S$0.460.
While the offer is attractive compared to historical share price ranges, it is light compared to peer and historical multiples.
The offer has not been declared final. However, the irrevocable, the lack of a disinterested shareholder holding a blocking stake and moderate retail ownership minimises the vote risk.

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