To The Moon

Market Snapshot

Singapore stocks opened lower on Wednesday. STI down 0.4%; Genting Sing down 8%; Sembcorp down 2%; OCBC, SIA down 1%.

Stocks in Focus

$OCBC Bank(O39.SI)$: OCBC on Wednesday reported a 3 per cent increase in net profit for the fourth quarter, driven by a surge in non-interest income. Net profit for the three months ended Dec 31, 2025, stood at S$1.75 billion, versus S$1.69 billion a year earlier. The lender declared a final dividend of S$0.42 per share, up from S$0.41 per share in the year-ago period. Shares of OCBC closed 1.2 per cent or S$0.26 lower at S$21.43 on Tuesday.

$Sembcorp Ind(U96.SI)$: Sembcorp Industries on Wednesday reported a 5 per cent decrease in net profit to S$448 million for the second half ended Dec 31, compared with S$473 million in the same period the previous year. Revenue for H2 fell 11 per cent to S$2.9 billion from S$3.2 billion a year earlier. Its shares fell 0.8 per cent or S$0.05 to close at S$6.30 on Tuesday.

$Genting Sing(G13.SI)$: The company on Tuesday reported a 30 per cent decline in net profit for the second half of its financial year to S$155.6 million, from S$222 million in the same year-ago period. However, non-gaming revenue jumped 10 per cent in H2 FY2025 to S$473.1 million, from S$428.3 million previously. Shares of Genting Singapore ended Tuesday flat at S$0.79, prior to the release of results.

$Ho Bee Land(H13.SI)$: The real estate developer on Tuesday posted a 50 per cent decline in net profit for the second half of its financial year ended Dec 31 to S$50.4 million, from S$100.7 million the year before. The board recommended a first and final dividend of S$0.05 per ordinary share for FY2025, an increase from S$0.04 per share in the previous fiscal year. The counter ended Tuesday 0.8 per cent or S$0.02 higher at S$2.50 before the news.

$SBS Transit(S61.SI)$: The transport group on Tuesday reported a 13 per cent decline in net profit to S$61.2 million, as revenue and operating profit both declined. It will still reward shareholders with a final dividend of S$0.0866 per share and a special dividend of S$0.3199 per share. Revenue from public transport services fell 3 per cent to S$1.45 billion, largely due to lower bus revenue. Shares of SBS Transit closed up 1.5 per cent or S$0.05 at S$3.44, before the release of results.

$CapLand India T(CY6U.SI)$: Clint closed a private placement where it sought to raise at least S$150 million to fund two buildings in Bengaluru, India, it said on Wednesday. Clint issued 124.2 million new units at S$1.208 per unit in the placement, which was 2.6 times covered with new and existing institutional, accredited and other investors taking part. Units of Clint rose 0.8 per cent to close at S$1.27 on Monday, before a trading halt was called on Tuesday – when it announced the placement. The halt will be lifted for Wednesday trading.

$Stoneweg EUTrust EUR(SET.SI)$: Sert’s distribution per stapled security (DPS) for the second half ended Dec 31, fell 3.1 per cent to 0.06837 euro, from 0.07056 euro in the corresponding year-ago period. Second-half revenue increased to 107.2 million euros (S$159.9 million), up 0.5 per cent from 106.6 million euros previously. Stapled securities of Sert rose 0.6 per cent or 0.01 euro to close at 1.67 euros on Tuesday.

$OUEREIT(TS0U.SI)$: The manager of the Reit has entered into a share and unit sale agreement for a 19.9 per cent stake in Salesforce Tower in Sydney, Australia for S$175 million. The interest will be acquired at an agreed property price of around S$319.8 million, based on a Tuesday announcement. Salesforce Tower is expected to be yield-accretive, generating an initial passing yield of about 5.8 per cent. Units of OUE Reit closed flat at S$0.37 on Tuesday.

SG Local News

S’Pore Announces Plans to Tighten Data Centre Rules at Launch of AI Test-Bed Facility by Singtel, Nvidia

Singapore is drawing up regulations for the data centres and cloud service providers (CSP) powering its digital economy, while it welcomes a new test facility for cutting-edge compute backed by the world’s top chipmaker Nvidia.

The proposed Digital Infrastructure Act (DIA) will require that such providers meet power efficiency standards, and have in place cybersecurity and service disruption countermeasures. They will also be required to log incident reports.

To be tabled later this year, the legislation will impact both existing and future facilities, said Senior Minister of State for Digital Development and Information Tan Kiat How at the launch of Singtel and Nvidia’s new Centre of Excellence (CoE) for Applied AI on Feb 24.

SIA Net Profit Falls 69% in Q3 but It Notches Record Quarterly Revenue on Robust Demand

Singapore Airlines (SIA) saw net profit fall 68.9 per cent in the third quarter ended Dec 31, due to the absence of a one-off accounting gain from the disposal of Vistara.

The company announced in a Singapore Exchange filing on Feb 24 that its net profit fell by $1.1 billion to $505 million in the third quarter, after including non-operating items.

This was primarily due to the absence of the one-off, non-cash accounting gain of $1.1 billion recognised in the previous year from the disposal of Vistara following the Air India-Vistara merger in November 2024, SIA said.

Singapore's Sembcorp Industries' Profit Dips Slightly on Weaker Gas Earnings

Singapore's Sembcorp Industries posted a marginal drop in annual profit on Wednesday, as strong performance from its renewables and urban solutions divisions was limited by lower earnings from its gas and related services segment.

The company's underlying earnings from its gas and related services segment, its top earner, dropped 4% to S$701 million ($553.36 million) during the year, weighed down by lower contribution from its UK operations and weaker generation spreads in Singapore.