Singapore stock preview: SATS, CapitaLand, SGX

• SATS Ltd share price fell as much as 2% on Monday (25 July 2022)
• CapitaLand Investment Limited share price rose over 2% to kick start the week
• Singapore Exchange Ltd signed a new agreement with the New York Stock Exchange
• Keen to trade Singapore shares? Open an account with us to start today.

SATS (SGX: S58)

SATS saw group revenue increase S$99.9 million (36.2%) year-on-year (YoY) to S$375.5 million in its first quarter business update for FY2023.

This came on the back of travel recovering to 55% of pre-pandemic flights, as well as the inclusion of Asia Airfreight Terminal’s revenue of S$32.4 million from March 2022.

By segment, revenue from Food Solutions increased 26.4% or S$38.9 million YoY to S$186.2 million, while revenue from Gateway Services grew 49.1% or S$62.3 million YoY to S$189.3 million.

The group reported an operating loss of S$34.3 million this quarter, down by S$37.8 million from an operating profit of S$3.5 million reported a year ago, as it mobilised more resources ahead of full aviation recovery coupled with lower government reliefs.

SATS’ profit attributable to owners of the company (PATMI) amounted to a net loss of S$22.5 million. Excluding government reliefs, its PATMI would have been a loss of S$31.9 million for the period.

CapitaLand Investment Limited (SGX: 9CI)

CapitaLand Malaysia Trust, managed via a joint venture between Singapore-listed CapitaLand Investment Limited and Malaysian Industrial Development Finance Berhad, posted a distributable income of 42 million ringgit for the period 1 January to 30 June 2022 (1H 2022).

This was 131.5% higher than the 18.2 million ringgit recorded for the same period a year ago.

As a result, distribution per unit (DPU) for 1H 2022 came in at 0.195 ringgit, up 126.7% YoY.

The company attributed the better performance in 1H 2022 to the recovery in retail sentiment as tenants’ businesses gradually returned to normalcy.

Singapore Exchange (SGX: S68)

Singapore Exchange (SGX Group) and the New York Stock Exchange (NYSE) have signed a new agreement to collaborate on the dual listing of companies on both exchanges.

The agreement will also see both companies work together in a few other key areas focused on the capital markets, including identifying and developing new ESG products and services; supporting index product development at SGX Group and NYSE affiliate ICE Data Indices; and exploring new ETF products.

‘This agreement underscores SGX Group and NYSE’s joint interest in driving greater collaboration between the two exchanges,’ said Loh Boon Chye, CEO of SGX Group.

‘It aims to create a more connected ecosystem to facilitate access to capital and the development of new investment solutions to address growing complex needs of market participants and investors.’

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