SG Morning Call | Singapore Stocks Open Higher; Sats Posts 31% Rise in Q4 Profit
Market Snapshot
Singapore stocks opened lower on Tuesday. STI fell 0.1%; Stas rose 2.4%; NIO rose 0.6%.
Stocks in Focus
$Sats(S58.SI)$: The ground handler on Monday posted a net profit of S$50.7 million for its fourth quarter ended Mar 31, an increase of 31 per cent from S$38.7 million in the year-ago period. Its revenue for the three months rose 9.8 per cent to S$1.6 billion from S$1.5 billion. The counter closed Monday 2.7 per cent or S$0.09 higher at S$3.37, before the news.
$Frasers Logistics and Commercial Trust(BUOU.SI)$ (FLCT): The manager on Monday said that the trust has acquired equity interests in four property-holding companies, which collectively own two freehold logistics properties in Germany and another two in the Netherlands. The purchase price agreed upon for the properties is about 294.9 million euros (S$441.5 million). This works out to a 1.5 per cent discount to their appraised value, and a 0.9 per cent discount to the average of two independent valuations for each property. Units of FLCT closed flat at S$0.98 on Monday, prior to the news.
$Boustead Singapore(F9D.SI)$: The engineering and technology group on Monday posted a net profit for its second half ended Mar 31 of S$197.7 million, up 235 per cent from the same year-ago period. This came on the back of revenue increasing 43 per cent to S$330.4 million, a results release noted. The counter ended trading at S$2.57, down S$0.15 or 6.2 per cent, before the announcement.
SG Local News
Singapore Core Inflation at 1.4% on Year in April, Lower Than Expected
Singapore's key consumer price gauge rose 1.4% in April from a year earlier, official data showed on Monday, below economists' expectations.
The core inflation rate, which excludes private road transport and accommodation costs, was lower than the median forecast of 1.7% in a Reuters poll. Headline inflation was 1.8% in annual terms in April, also lower than the 2.0% seen in the poll.
In April, the central bank tightened monetary policy and raised its 2026 forecasts for both core inflation and headline inflation to a range of 1.5% to 2.5%, up from 1% to 2% previously.
Sats Posts 31% Rise in Q4 Profit Despite Impact of Middle East Conflict
Sats on Monday (May 25) reported a net profit of S$50.7 million for its fourth quarter ended Mar 31, up 31 per cent from S$38.7 million for the corresponding period a year earlier.
This translated to earnings per share (EPS) of S$0.034 for the quarter, from S$0.026 for Q4 FY2025.
Revenue rose 9.8 per cent year on year to S$1.6 billion, from S$1.5 billion previously.
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