SG Morning Call | Singapore Stocks Open Lower; Japfa Owners Offer to Take Poultry Firm Private-To The Moon - Tiger Brokers Online Investing Community

SG Morning Call | Singapore Stocks Open Lower; Japfa Owners Offer to Take Poultry Firm Private

Market Snapshot

Singapore stocks opened lower on Monday. STI fell 0.3%; Japfa rose 16%; Thomson Medical fell 6%; SingPost and Keppel fell nearly 1%.

Stocks to Watch

$Keppel(BN4.SI)$: The company was granted a license by the US to build a 20,000 km subsea cable system linking Singapore to the US. Keppel on Friday said it is co-developing the Bifrost Cable System with Edge Cable Holdings USA and Telekomunikasi Indonesia International. Keppel chief executive officer Loh Chin Hua said the successful deployment of Bifrost, expected to be ready for commercial service in the second half of this year, is set to “generate attractive returns” for Keppel and its private-fund co-investors. Shares of Keppel closed 1.6 per cent or S$0.11 higher at S$6.81 on Friday.

$CDL Hospitality Trusts(J85.SI)$ (CDLHT): Its managers on Monday posted a distribution per stapled security (DPS) of S$0.0281 for the second ended Dec 31, 2024, down 11.9 per cent from the previous corresponding period. The decline comes amid lower contribution from residential property in Manchester, higher interest costs, lower net property income, as well as absence of a one-off capital distribution. Stapled securities of CDLHT ended on Friday flat at S$0.865.

$CapitaLand Ascott Trust(HMN.SI)$ (Clas): The stapled group posted a 7 per cent fall in DPS to S$0.0355 for the second half ended Dec 31, 2024, from S$0.038 in the year-ago period. This brings DPS for FY2024 to S$0.061, down 7 per cent year-on-year. The distribution for H2 will be paid out on Feb 28, after the record date on Feb 6. Stapled securities of Clas ended on Friday 0.6 per cent or S$0.005 higher at S$0.88.

$Thomson Medical(A50.SI)$: The hospital operator said on Friday that it expects a loss after tax for the first half of its financial year ended Dec 2024, after a preliminary review of its unaudited financial results. This is mainly due to poorer performance of its Malaysia market partly from the termination and discounts of certain insurance contracts. More details of its H1 financial performance will be disclosed on or before Feb 14, it said. Shares of Thomson Medical closed flat at S$0.049 on Friday, before the announcement.

$Japfa(UD2.SI)$: Relatives of Japfa’s founder are offering to privatise the agri-food company at an offer price of S$0.62 apiece. This is a 34.8 per cent premium to Japfa’s last traded price on Jan 15 and a 12.7 per cent premium to its net asset value per share as at Sep 2024. Japfa on Friday said that this is an opportunity for shareholders to realise their investments at a premium to prevailing market prices and that the move is set to give the offerors and the company’s management more flexibility to manage and grow the business. Shares of Japfa closed at S$0.53 on Friday, down S$0.015 or 2.8 per cent, before the announcement.

SG Local News

Over 3,000 Individuals’ Names, NRIC Numbers Leaked Due to CEA’S IT System Error

The names and NRIC numbers of more than 3,000 individuals were sent to 18 unintended recipients on Tuesday (Jan 21) due to a “technical issue” in the IT system of the Council for Estate Agencies (CEA).

In response to The Straits Times’ queries, CEA said on Jan 26 that it discovered the data leak at 11.21am on Jan 22.

The incident resulted in the inadvertent disclosure of a set of data containing 3,320 names and NRIC numbers belonging to those who had previously registered for the March 2024 Real Estate Salesperson or April 2024 Real Estate Agency examinations.

Changi Airport Poised for Growth in 2025 and Beyond, but Challenges to Its Hub Status Loom

Growth is the word on everyone’s lips when it comes to the outlook for Changi Airport in 2025, after the airport narrowly missed out on a full recovery in passenger traffic in 2024.

Having handled 67.7 million passengers in 2024 – 99.1 per cent of the record 68.3 million handled in 2019 – the airport is poised to grab a larger slice of an expanding aviation pie, industry analysts told The Straits Times.

Projections are for low single-digit growth in the year ahead.

$(STI.SI)$ $(UD2.SI)$ $(J85.SI)$ $(HMN.SI)$ $(BN4.SI)$ $(C09.SI)$ $(A50.SI)$

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