Shipbuilder Yangzijiang Shipbuilding Holdings Ltd (SGX: BS6) was the biggest loser for the week among the Straits Times Index‘s (SGX: ^STI) 30 constituents. Yangzijiang’s share price sunk 7.1% to S$1.18, compared to the index’s 0.2% dip to 3,062. In all, 15 companies in the Straits Times Index ended the week with a lower share price, while 13 made gains and two had share prices that remain unchanged.
A week ago, Yangzijiang announced that it had entered into a joint venture with Japanese shipbuilders, Mitsui E&S Shipbuilding Co Ltd and Mitsui & Co Ltd, to establish a shipbuilding company in China. Yangzijiang will own a 51% stake in the joint venture, which will produce commercial vessels out of the Taicang yard in Jiangsu, China, from April next year.
The second worst performer in the Straits Times Index for the week was Keppel Corporation Limited (SGX: BN4). The conglomerate’s share price tumbled 2.4% to S$6.64. Keppel Corp released its 2018 third quarter earnings update during the week, and reported big declines in revenue (a 20% fall) and profit (a 15% fall). You can check out Chin Hui Leong’s and Esjay’s combined coverage here to know more about Keppel Corp’s latest results.
Media giant Singapore Press Holdings Limited‘s (SGX: T39) share price was down by 0.4% for the week to S$2.62. On Monday (15 October), the company announced its results for the financial year ended 31 August 2018 (FY2018). The company did not do well for the year – its revenue and net profit declined by 4.8% and 19.7% respectively. To know more about SPH’s latest results, you can head to Jeremy Chia’s coverage here.
On the other end of the winners-losers spectrum, CapitaLand Mall Trust (SGX: C38U), which owns retail malls in Singapore, was the best performer of the index for the week – its unit price increased by 4.8% to S$2.18. Next week, the REIT will be announcing its financial results for 2018’s third quarter. In the second quarter of the year, the REIT’s distribution per unit rose 2.2% year-on-year. Can CapitaLand Mall Trust continue its winning streak? We will know for sure on Thursday (25 October) when the REIT releases its earnings update.
Outside of the index, embattled Singapore water treatment company, Hyflux Ltd (SGX: 600), will be getting a lifeline. The company, which is now under a court-supervised reorganisation, is poised to receive an investment of S$530 million from a consortium named SM Investments, which comprises Indonesia’s Salim Group and Medco Group. SM Investments will own 60% of Hyflux’s shares when the deal is sealed. Hyflux shares are currently suspended from trading.
The SPDR STI ETF (SGX: ES3), an exchange-traded fund which tracks the fundamentals of the Straits Times Index, had a price-to-earnings ratio of 10.7 and a distribution yield of 3.6% on Friday.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended units of CapitaLand Mall Trust. Motley Fool Singapore contributor Sudhan P owns units in CapitaLand Mall Trust.