Singapore stocks fell this week, with the STI down 0.6%, as investors responded positively to hopes of the US and Iran reach a deal to end hostilities.
In terms of individual stocks, SATS rose 17.38%; Frencken rose 11%; AEM SGD rose 8.8%; UMS rose over 6%; First Resources, Jardine C&C down over 6%; JMH USD, Haw Par down around 7%.
SATS Jumps over 17% as It Likely to Continue Posting Earnings Growth
SATS is likely to deliver consistent double-digit earnings growth through fiscal year 2028, Nomura research analysts write in a note. Earnings will likely be supported by recently secured contract wins and capacity expansion across Europe, Americas and Asia, as well as margin expansion as economics of scale improves, they say.
SATS' management maintained a constructive outlook for the current fiscal year, supported by resilient cargo demand, continued growth in specialized handling services and ongoing investments into network expansion and logistics capabilities, they add. Nomura reiterates a buy rating with a target price of S$4.57.
Frencken Soars 11% on Expected Earnings Improvement from Semiconductor Demand
Frencken's stock price surged 11% this week, reflecting strong investor optimism about the company's future prospects.
According to analyst research, Frencken Group's revenue and core earnings are expected to improve in the coming quarters thanks to robust semiconductor-related demand. The Singapore-listed technology services provider's first-half revenue is also likely to be driven by its medical and automotive segments.
RHB Research maintains a buy rating on the stock with a target price of S$3.57, citing these positive fundamentals as key drivers for the company's growth trajectory.
First Resources Shareholders Back All AGM Resolutions; Approve 10.20-Cent Final Dividend
First Resources shares fell over 6% this week. First Resources said that all resolutions tabled at its annual general meeting on Apr, 30 2026 were passed by poll, including the adoption of FY2025 financial statements, re-election of three directors and the re-appointment of auditor Ernst & Young LLP.
Shareholders approved a final dividend of 10.20 Singapore cents per share, one-tier tax-exempt, for the year ended Dec, 31 2025. The payout is scheduled for May, 15 2026 and will lift the total FY2025 ordinary dividend to 14.70 Singapore cents per share, equal to 50% of underlying net profit.
The meeting also endorsed directors’ fees of 0.651 million Singapore dollars for FY2025, authorised the board to issue new shares of up to 50% of issued capital, renewed the interested-person transaction mandate and refreshed the 10% share purchase mandate.
Seatrium Posts S$15.5 Billion Net Order Book for Q1
Seatrium Ltd shares fell nearly 5% this week. Seatrium reported a net order book of S$15.5 billion across 24 projects for its first quarter ended Mar 31, 2026, with delivery dates till 2033.
According to the business update released on Friday (May 29), during the period, two legacy projects – the trailing suction hopper dredger Frederick Paup to Manson Construction and the wind turbine installation vessel Maersk Viridis to Maersk Offshore Wind – were delivered; while ongoing projects continued to advance in line with expectations.
Seatrium also completed 46 vessel repairs and upgrades during the quarter, comprising one floating storage regasification unit (FSRU) conversion, five liquefied natural gas carriers, seven cruise vessels, 10 offshore vessels and four naval vessels.
