MONEY MASTER

Singapore equities saw  selective strength on April 15 , with gains led by industrial and telecom names, while  REITs and banks dominated trading activity , reflecting a balanced but cautious market tone. STI Movers: Industrials and Telcos Outperform The  FTSE Straits Times Index  saw mixed performance across constituents. Top gainers included: Sembcorp Industries +3.05%  (top gainer) Mapletree Pan Asia Commercial Trust   +1.46% Singtel   +1.44% Jardine Matheson +1.30% The strength highlights  investor preference for defensive and yield-linked sectors . On the downside: Keppel   -1.40%  (top loser) Thai Beverage   -1.16% SATs   -0.84% REITs Show Mixed but Active Trading In the REIT sector: Landmark REIT surged  +16.67% , leading gainers Acrophyte Hospitality Trust +2.04% Elite UK REIT -3.28%  (top loser) The wide dispersion suggests  stock-specific catalysts rather than sector-wide trends . Trading Activity Conce...

DBS Group  posted weaker-than-expected fourth-quarter earnings, underscoring the growing impact of lower interest rates on Singapore banks and flagging  continued profit headwinds into 2026 . The lender reported  4Q net profit of S$2.26 billion , down  10% year-on-year , missing analysts’ estimates of nearly  S$2.55 billion . The decline was driven mainly by a  sharp drop in net interest margin (NIM)  as domestic interest rates eased. DBS’  group NIM fell to 1.93% , from  2.15% a year earlier , dragging net interest income lower.  Return on equity slipped to 13.5% , compared with  15.8%  in the prior year. Looking ahead, CEO  Tan Su Shan  said  2026 net interest income and net profit are expected to come in slightly below 2025 levels , assuming: Singapore overnight rate (SORA) averages  ~1.25% Two US Federal Reserve rate cuts A  stronger Singapore dollar On asset quality,  loan-loss provisions jump...

Quick Summary Singapore stocks ended  mixed  on Friday as  REITs led gains  while  banks and industrial names weighed on sentiment . The Straits Times Index (STI) saw selective buying interest despite heavy turnover in blue chips. Key Takeaways CapitaLand Integrated Commercial Trust (C38U)  topped the STI,  rising 2.94%  to S$2.45, driven by renewed interest in defensive yield plays. YZJ Shipbuilding (BS6)  was the biggest laggard,  slumping 6.23% , as investors pared exposure to cyclical industrial stocks. DBS Group (D05)  was the most actively traded counter,  down 0.6%  to S$59.30, reflecting profit-taking in bank heavyweights. REITs outperformed , with several trusts posting gains amid global volatility and falling risk appetite. Market activity remained elevated, signalling  portfolio rotation rather than broad-based selling . Market Snapshot Top Gainer (STI):  CapitaLand Integrated Commercial Trust +2.94% T...

Keppel Infrastructure Trust (KIT) reported a  31.2% y-o-y increase in Distributable Income (DI)  to  $119.4 million  for 1HFY2025, supported by contributions from  City Energy, IXOM, new acquisitions, and the divestment of Philippine Coastal Storage and Pipeline Corp. Distributions per unit (DPU):  1.97 cents (+1% y-o-y) Key Highlights: Growth drivers:  City Energy & IXOM operations, strategic acquisitions, and value crystallisation from asset sales. Major acquisition: April 2025:  46.7% stake in  Global Marine Group (GMG)  for $122.3 million. GMG is a leading independent subsea cable solutions provider with long-term contracts, giving KIT exposure to the digital infrastructure sector. Asset recycling: Completed divestment of  Philippine Coastal  in March. Announced sale of 24.62% stake in  Ventura Motors Pty. Ltd.  to Samsung Asset Management for A$130 million (~$109 million), expected completion in 3Q2025. CEO K...

GKE Corporation reported a  105.6% year-on-year (y-o-y)  jump in net profit to  $8.85 million  for the full year ended May 31, 2025. Key Financial Highlights: 2HFY2025 earnings:  $4.44 million (+84.5% y-o-y) Full-year EPS:  1.15 cents; 2H EPS: 0.58 cents Final dividend:  0.35 cents per share; full-year payout: 0.4 cents Revenue:  $126.5 million (+14.4% y-o-y); 2HFY2025: $63.4 million (+15.1% y-o-y) Gross profit:  $36.4 million (+12.1% y-o-y) Gross margin:  28.8% (vs. 29.4% in FY2024) Drivers of Growth: Higher income across all segments:  container trucking, freight forwarding, marine logistics, warehousing. Strong  warehousing occupancy rates  and increased sales of  ready-mix concrete (RMC) . Initial contribution from  new retail and distribution business in telecommunications . Profit Boosters: $1.1 million net gain from disposal of intangible assets. $3.2 million improvement in allowance for expected credit lo...