25 August 2023
Market View: Fraser Property’s partnership with SP Group; Taka Jewellery reports 32% drop in net profit; BOJ to downscale massive monetary easing only in a year’s time; Zhongrong’s missed payments; Central bankers talk at Jackson Hole Symposium
Singapore stocks opened weaker today following overnight losses on the global market.
In early trade, the Straits Times Index (STI) headed down 0.4 per cent to 3,169.14 points after 65.1 million securities changed hands in the broader market.
In terms of companies to watch today, we have Frasers Property, after the group announced yesterday that it will start a partnership with SP Group to develop and implement smart-energy solutions at Binh Duong Industrial Park in Vietnam.
Meanwhile, from the impact of missed payments by Chinese financial conglomerate Zhongzhi to listed firms in the country, to the Jackson Hole Symposium underway in the US – more international headlines are in focus today.
On Market View, the Drive Time team unpacked the developments with Benjamin Goh, Head of Research and Investor Education, SIAS.

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21 July 2023
Market View: YangZiJiang Financial’s PE fund invests in chemical, product tanker projects; Sabana Reit’s ordinary resolution to internalise Reit management function; Grab acquires Transcab; China to boost sale of automobiles; Elon Musk’s fortune down US$20.3b
Singapore shares started trading a touch lower today following mixed trading sessions in the US and Europe.
In early trade, the Straits Times Index (STI) was down 0.1 per cent at 3,271.21 points as 57.2 million securities changed hands in the broader market.
In terms of companies to watch today, we have Yangzijiang Financial after the investment manager’s maritime private equity fund invested in two chemical and product tanker projects for US$32.1 million.
Meanwhile, from Sabana Reit going ahead with its ordinary resolution to internalise the Reit’s management function, to China announcing steps to boost car sales and Elon Musk getting poorer by billions of dollars overnight, more international and corporate headlines remain in focus.
On Market View, the Drive Time team unpacked the developments with Benjamin Goh, Head of Research and Investor Education, SIAS.

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7 July 2023
Market View: Sabana Reit’s EGM and Quarz Capital; Bytedance launches new music streaming service; Samsung’s likely 96% plunged in 2Q operating profits; Chinese authorities likely to impose at least a 8b yuan fine on Ant Group; Elon Musk vs Mark Zuckerberg - Thread and Threats; Janet Yellen in Beijing
Singapore shares started trading in negative territory today mirroring the slump in global markets.
In early trade, the Straits Times Index (STI) was down 0.2 per cent at 3,144.26 points as 27.4 million securities changed hands across the broader market.
In terms of companies to watch today, we have Sabana Reit – more issues surrounding its relationship with investor Quarz Capital and the Reit’s upcoming EGM.
Elsewhere from Bytedance launching a new music streaming service in Brazil and Indonesia to Samsung reporting a likely 96% plunge in second quarter operating profits, we’ve got more corporate headlines for you.
Not to mention – Twitter threatening to sue Meta over Threads.
On Market View, the Drive Time team unpacked the developments with Benjamin Goh, Head of Research and Investor Education, SIAS.

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30 June 2023
Market View: Temasek sells 1.85% stake in SIA; China’s factory activity contracted for third straight month in June; SHEIN denies US IPO; Nike’s guidance falls below estimates; Airbnb disputes viral tweet on revenue for US property owners; Pokemon Go’s Niantic closing LA game studio, cancels NBA and Marvel titles
Singapore shares started trading in positive territory today largely mirroring global markets.
In early trade, the Straits Times Index (STI) was up 0.4 per cent at 3,220.16 points after 109 million securities changed hands across the broader market.
In terms of companies to watch today, we have Singapore Airlines, after news emerged that Temasek is selling around S$400 million worth of shares, or a 1.85 per cent stake, in the national carrier as a portfolio rebalancing act.
Meanwhile, from Nike’s earnings to SHEIN denying a US lPO more companies continue to be in focus. Also on our agenda today, China’s latest manufacturing activity contracted for a third straight month in June amid weak demand.
On Market View, the Drive Time team unpacked the developments with Benjamin Goh, Head of Research and Investor Education, SIAS.

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16 June 2023
Market View: SIA, Scoot May passenger numbers up 65.8% yoy; Jardine C&C and Carro announces partnership worth over US$60m; Banks lower China’s 2023 GDP growth forecasts; Micron to invest US$603m in Xi’an; Tesla’s expansion hitting speed bump in China amid industry overcapacity
Singapore shares opened higher today, following strong overnight gains on Wall Street.
The Straits Times Index (STI) notched up 0.3 per cent to 3,252.18 points in early trade as 54.9 million securities changed hands in the broader market.
In terms of companies to watch today, we have Singapore Airlines. The national carrier and its budget counterpart Scoot served 2.8 million passengers in May, a year-on-year increase of 65.8 per cent.
Meanwhile, from Singapore’s key exports showing a larger-than-expected drop to the Bank of Japan keeping ultra-low interest rates, major economic developments continue to make the headlines.
Corporate developments continue to be in focus as well with Micron saying that it's committed in China, while Tesla’s China expansions hit the speed bump.
On Market View, the Drive Time team unpacked the developments with Benjamin Goh, Head of Research and Investor Education, SIAS.

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9 June 2023
Market View: Thomson Medical Group reportedly in talks to buy stake in Vietnam’s FV Hospital; Open AI’s CEO meets South Korean President Yoon Suk Yeol; Bytedance testing AI-powered chatbot; US weekly jobless claims; Fed’s next move
Singapore shares opened lower today after Wall Street booked overnight gains on improving sentiment.
The Straits Times Index (STI) was down 0.1 per cent to 3,183.55 points in early trade after 92.4 million securities changed hands in the broader market.
In terms of companies to watch today, we have Thomson Medical Group after the Singapore-based healthcare company was reported by Bloomberg to be in advanced talks to purchase a controlling stake in Vietnam’s FV Hospital.
Elsewhere, investors continue to keep their eyes on the US market after a forecast busting jump in jobless claims figures cemented beliefs that Federal Reserve officials would pause interest rate hikes this month.
Also worthy of note is the broad based S&P 500 entering a bull market after rising over 20 per cent from its October low.
On Market View, the Drive Time team unpacked the developments with Benjamin Goh, Head of Research and Investor Education, SIAS.

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12 May 2023
Market View: Singapore stock market wrap; Seatrium’s net order book of S$20b; First Resources’ Q1 net profit down 73.8% yoy; US producer prices up 2.3% yoy in April, Elon Musk to step down as Twitter CEO; US mortgage rates could top 8% if US defaults
Singapore stocks fell at the opening bell today after Wall Street equities ended mixed overnight.
In early trade, the Straits Times Index (STI) dropped 0.4 per cent to 3,217.41 points as 92 million securities changed hands in the broader market.
In terms of companies to watch today, we have Seatrium. That’s after the group announced a net order book of S$20 billion for the year to date following the confirmation of multiple projects.
Elsewhere, investors continue to keep a lookout on a number of developments out of the US ranging from slowing inflation and a new chief for Elon Musk’s Twitter.
The US debt ceiling standoff is also in focus, after a report from real estate firm Zillow says mortgage payment on a typical home could be 22 per cent higher if the US defaults.
On Market View, the Drive Time team discussed the latest market moves and views with Benjamin Goh, Head of Research and Investor Education, SIAS.

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5 May 2023
Market View: US regional banks in focus; PacWest plunges 50.6%; Adidas’ Q1 sales down 1% yoy; Proposal by Ping An to split HSBC’s Asia business; Ant Group considers selling stake in HK virtual banking unit; Singapore stock market wrap; OUE C-REIT’s net property income up 18% in Q12023; AIMS APAC REIT’s DPU up 11.3% yoy
Singapore shares dipped slightly today as global markets continued reacting to the latest US Federal Reserve rate hike.
In early trade, the Straits Times Index lost 0.1 per cent, to 3,267.32 points after 33.3 million securities were traded in the broader market.
In terms of companies to watch today, we have OUE Commercial real estate investment trust, after its manager announced yesterday a net property income of S$56.6 million for the first quarter of 2023, an 18 per cent increase from the same period last year.
Elsewhere, investors continue to be laser focused on the regional banking sectors.
More notably, shares of PacWest plunged 50.6 per cent in the previous session. The bank had confirmed an earlier Reuters report that it was exploring strategic options, including a potential sale or capital raise.
On Market View, the Drive Time team discussed the latest market moves and views with Benjamin Goh, Head of Research and Investor Education, SIAS.

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28 April 2023
Market View: Singapore’s ABSD hike and property stocks; DPU of S-REITS; Singtel combining consumer and enterprise business in Singapore; Amazon’s shares surged amid earnings beat; Meta’s Mark Zuckerberg’s wealth soared over US$10b
Singapore shares fell this morning, despite gains in global markets overnight.
In early trade, the Straits Times Index (STI) fell 0.1 per cent to 3,279.49 points after 89.3 million securities changed hands in the broader market.
In terms of companies to watch today, we have Singtel, after the telco announced yesterday that it will be combining its consumer and enterprise business in Singapore into a singular operating company from June.
Meanwhile, property stocks continue to be in focus as investors mull the impact of the latest hikes in Additional Buyers’ Stamp Duty on homebuyers.
And not to mention - the number of S-REITS reporting their distribution per unit figures for the latest quarter ended March.
My Drive Time colleagues and I discussed the latest market moves and views with Benjamin Goh, Head of Research and Investor Education, SIAS.

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21 April 2023
Market View: US labour market softening; Tesla hiking prices again; Outlook for US carmakers amid price war; Deposit flight out of US regional lenders; Keppel Corp’s 9% yoy revenue increase
Singapore shares fell this morning after global markets closed lower overnight.
In early trade, the Straits Times Index (STI) fell 0.2 per cent to 3,307.75 points after 36.2 million securities changed hands in the broader market.
In terms of companies to watch today, we have Keppel Corporation, after the global asset manager and operator posted a 9 per cent on-year rise in its revenue to S$2.3 billion for its first quarter ended March.
Elsewhere, data out of the US showed the number of Americans filing new claims for unemployment benefits rose moderately last week, suggesting that the country’s labour market is softening. How worried should we be at this point in time?
And in company news, shares of US regional lenders fell in the previous session amid a deposit flight, while carmakers tumbled due to concerns about a possible price war.
On Market View, the Drive Time team discussed the latest market moves and views with Benjamin Goh, Head of Research and Investor Education, SIAS.

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14 April 2023
Market View: US inflation cools; MAS keeps monetary policy settings unchanged; LVMH now among world’s top 10 as market value nears US$500b
Singapore shares rose today, following the Monetary Authority of Singapore’s announcement to leave monetary policy settings unchanged for the first time in over a year. That’s contrary to market expectations of a tightening.
In early trade, the Straits Times Index (STI) was up 0.4 per cent to 3,309.16 points after 25.4 million securities changed hands in the broader market.
In terms of companies to watch today, we have ST Engineering, after it won a S$200m contract for the Cross Island Line project.
Elsewhere, investors continue to digest the latest US inflation figures after fresh data showed continued slowing of inflation, suggesting that the Federal Reserve’s tightening campaign was finally paying off.
On Market View, the Drive Time team unpacked the latest developments for the week with Benjamin Goh, Head of Research and Investor Education, SIAS.

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31 March 2023
Details on possible IPOs in Hong Kong- Alibaba’s Cainiao Network Technologies; JD.com units filed for IPOs; Singapore stock market wrap
Singapore stocks rose early on after global indices rallied overnight.
The Straits Times Index rose 0.1 per cent in early trade to 3,260.51 points after 38.8 million securities changed hands in the broader market.
In terms of companies to watch today, we have Mapletree Logistics Trust, after the Reit manager said yesterday that Mapletree Logistics Trust is in the process of buying eight Asia-Pacific assets for over S$900 million.
Elsewhere, Alibaba’s Cainiao Network Technology is reportedly preparing for a listing in Hong Kong. JD.com also came up to say that  two of its subsidiaries had filed for IPOs in Hong Kong. What’s next for China’s tech scene?
On Market View, the Drive Time team sat down with Benjamin Goh, Head of Research and Investor Education, SIAS  for more.

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24 March 2023
Market View: TikTok CEO Shou Zi Chew’s testimony; JP Morgan, Citi and Bank of America asking staff not to poach clients from stressed banks; Twitter to remove legacy verified marks; Singapore ranks 3rd in global financial centre rankings; Singapore stock market wrap; Sats on valid applications for new shares; Sembmarine’s subsidiary investigated for “alleged irregularities”
Singapore stocks opened lower today with banks opening in the red following the US Federal Reserve’s latest move to hike interest rates.
In terms of companies to watch today, we have inflight caterer and ground handler Sats, after it announced that shareholders making up 90.4 per cent of the group’s shares have made valid applications for new shares it will be issuing.
Meanwhile, from Tiktok CEO Shou Zi Chew’s testimony in front of the US Congress to JP Morgan, Citi and the Bank of America telling staff not to poach clients from stressed banks, international news continue to dominate the headlines today.
On Market View, the Drive Time team unpacked the these developments with Benjamin Goh, Head of Research and Investor Education, SIAS.

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17 March 2023
Market View: Singapore Stock Market Wrap; Impact of Singapore key exports contraction on STI; MAS on trio of local banks’ exposure to Credit Suisse; Thai Beverage on plans to list or sell spirits business; SIAS on Boustead Singapore’s bid to acquire Boustead Projects; Major US banks to inject US$30b into First Republic Bank; Indian startups’ exposure to SVB
Singapore stocks opened higher today, tracking solid gains in global markets following several major developments in the banking sector worldwide.
Back home, data from Enterprise Singapore also showed key exports contracted for the fifth straight month in February, albeit at a slower pace than the month before, as the decline in non-electronic shipments eased.
The Straits Times Index rose 0.5 per cent to 3,170.38 points in early trade after 148.9 million securities changed hands.
The banking sector in Singapore continues to be in focus today after the Monetary Authority of Singapore said yesterday that the trio of Singapore banks’ exposures to Credit Suisse are insignificant and that the banks are well-capitalised and conduct regular stress tests against credit and other risks.
On Market View, the Drive Time team got down to the details with Benjamin Goh, Head of Research and Investor Education, SIAS.

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10 March 2023
Market View: Singapore stock market wrap; Ascent Bridge’s chief executive faces bankruptcy charges; CDL’s acquisition of St Katharine Docks in London; Del Monte’s net profits down 62% yoy; SVB Financial Group’s move to raise cash; US President Joe Biden’s budget proposal; Non-farm payroll figures
Singapore shares struggled to advance at the open, following a retreat on Wall Street amid worries over the financial sector.
The Straits Times Index headed down 0.6 per cent in early trade to 3,194.73 points, after 54.3 million securities changed hands.
Some notable names seeing new developments include City Developments Limited, after the property developer completed its acquisition of the St Katharine Docks development in London for £395 million (S$636 million). But how significant is the acquisition for CDL?
Another company to watch would be Del Monte Pacific, after the canned food brand posted a net profit of US$9.8 million for the third quarter ended Jan 31. That’s down 62 per cent year on year despite higher turnover. Is this a cause for concern?
On Market View, the Drive Time team got down to the details with Benjamin Goh, Head of Research and Investor Education, SIAS.

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3 March 2023
Market View: Singapore stock market wrap; Underlying net profits vs net profits for Jardine Matheson and HongKong Land; DFI Retail Group’s underlying earnings down 72% yoy; US Raphael Bostic on a 25bps hike in March and a possible pause in Fed’s hike cycle in summer
Singapore stocks rose today following gains in US and Europe markets.
The Straits Times Index was up 0.3 per cent to 3,244.4 points in early trade after 216.1 million securities changed hands.
Some notable names seeing new developments include Jardine Matheson, which announced a 5 per cent on-year increase in underlying net profit to US$1.6 billion for FY2022 yesterday.
We’re also tracking property group Hongkong Land, which reported yesterday a fall in underlying earnings by 20 per cent on-year to US$766.1 million for FY2022.
On Market View, the Drive Time team broke down key developments of the week with Benjamin Goh, Head of Research and Investor Education, SIAS.

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24 February 2023
Market View: Singapore stock market wrap, Singapore’s factory output falls 2.7% yoy, OCBC’s recorded 34% yoy rise in Q4 net profits, ST Engineering’s sees profits down 7.1% yoy in H2, BoJ’s incoming governor on ultra low rates
Singapore shares rose in early trade today following gains in US and Europe markets.
Some notable names seeing new developments today include OCBC, after the bank reported a net profit of S$1.3 billion for the fourth quarter ended December 2022. But how did the bank fare against its peers?
Meanwhile, defence and engineering group ST Engineering saw profits fall 7.1 per cent on-year to S$255 million for the second half ended December 2022. But to what extent is this a one-off occurrence contributed by a reduction of COVID-19 support and TransCore transaction and integrated expenses?
On Market View, the Drive Time team unpacked the key market movements of the day with Benjamin Goh, Head of Research and Investor Education, SIAS.

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17 February 2023
Market View: Singapore stock market wrap, Singapore’s NODX tumbled 25% yoy, ESR Logos Reit down 7.1% in early trade after private placement exercise, Over 95% SembMarine shareholders voted for merger with Keppel O&M, GoTo bringing forward its profitability targets by a year
Singapore shares declined in early trade today after the country’s non-oil domestic exports posted worse-than-expected performance and the US market reported losses amid interest rate concerns.
The Straits Times Index fell 0.2 per cent in early trade to 3,303.14 points after 31.4 million securities changed hands.
Some notable names seeing new developments today include Sembcorp Marine and Keppel Corporation.
If you recall, Sembmarine’s shareholders voted overwhelmingly for the merger with Keppel Corp’s offshore and marine unit, with over 95 per cent of votes cast in favour of the proposal.
On Market View, the Drive Time team took a closer look at the developments for the day with  Benjamin Goh, Head of Research and Investor Education, SIAS.

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10 February 2023
Market View: Singapore stock market wrap, Meyer Park’s S$392 million en bloc deal, Wing Tai’s net profit up 18% y-o-y, Yoma Strategic’s revenue rose 76%, China’s consumer inflation accelerates
Singapore stocks opened lower today. The Straits Times Index dropped 0.2 per cent in early trade to 3,351.85 points after 71.5 million securities changed hands.
Some notable names seeing new developments today include UOL Group and Singapore Land Group, which purchased Meyer Park for S$392.18 million via a collective sale. But what would this mean for both companies?
Elsewhere, China’s consumer inflation accelerated last month. CPI was up 2.1% on a yearly basis, higher than the 1.8% increase in December. What’s the country’s recovery story looking like?
On Market View, the Drive Time team posed these questions to Benjamin Goh, Head of Research and Investor Education, SIAS.

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3 February 2023
Market View: Singapore stock market wrap, Keppel Corp 40.6% on-year decline in net profit for 2H2022, Sembcorp Industries and Southeast Asia’s largest energy storage system in Jurong island, US big names (Apple, Starbucks and Alphabet) missing estimates
Singapore shares rose in early trade today, tracking mostly gains in US and European markets.
Some notable names seeing new developments today include Keppel Corporation, which reported a 40.6 per cent on-year decline in net profit for the second half ended December. Question is - how concerned should we be about this development?
Sembcorp Industries also made the headlines recently for owning and operating Southeast Asia’s largest energy storage system in Jurong Island. Are there legs to this as the company doubles down on renewables?
Elsewhere, a number of US companies reporting last night missed estimates, with Apple, Alphabet, Starbucks among them. But how are markets there expected to close the week?
On Market View, the Drive Time team posed these questions to Benjamin Goh, Head of Research and Investor Education, SIAS.

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18 January 2022
What investors need to know about upcoming Singapore SPAC listings
Two Singapore special-purpose acquisition companies have opened their books for initial public offerings and are set to list here later this month.
IPOs by Vertex Technology Acquisition Corp and Pegasus Asia mark the first SPAC listings in Asia since the frenzy for such blank-check firms began in the US in 2020.
Benjamin Goh, Head of Research and Investor Education, SIAS tells Prime Times' Rachel Kelly what investors need to consider diving into the world of SPACs.
They also discuss how to evaluate if this is a good investment for investors.

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