To The Moon

Market Snapshot

Singapore stocks opened higher on Wednesday. STI up 0.3%; Olam Group up 3%; UOB, Sembcorp up 1%; Nio fell 4%.

Stocks to Watch

$Mapletree Log Tr(M44U.SI)$: Its distribution per unit (DPU) fell 11.1 per cent year on year to S$0.02003 for its third quarter ended Dec 31, 2024, bringing its DPU for the nine-month period down 10.2 per cent to S$0.06098. Revenue for the quarter slipped 0.9 per cent from the previous corresponding period to S$182.4 million on lower contributions from China, the absence of contributions from its divested properties, and depreciation of regional currencies against the Singapore dollar, the manager said on Tuesday. Units of MLT closed 0.8 per cent or S$0.01 lower at S$1.27 on Tuesday, before the news.

$SingPost(S08.SI)$ : The national postal service provider on Wednesday named the former chief financial officer (CFO) of its Australia business Isaac Mah as group CFO, effective Jan 22. This comes after the company in December last year announced its intention to appoint Mah to the position in accordance with SingPost’s succession plan. Shares of the group ended Tuesday 0.9 per cent or S$0.005 lower at S$0.555. 

$Cromwell Reit SGD(CWCU.SI)$ : Its manager has priced its offering of 500 million euros (S$705 million) of green notes due 2031 under its 1.5 billion euros medium term note programme. The notes will bear a coupon rate of 4.25 per cent, while the reoffer yield will be 4.343 per cent, payable annually in arrears, said the manager on Wednesday. Proceeds will be used to redeem outstanding notes due November 2025 for general corporate purposes and to finance eligible green assets and projects. Units of Stoneweg E-Reit ended 0.6 per cent or 0.01 euro higher at 1.57 euros on Tuesday.

$Sabana Reit(M1GU.SI)$ : Its distribution per unit (DPU) rose to S$0.0152 for the half year ended Dec 31, 2024, up 32.2 per cent from the previous corresponding period. This brings its full-year DPU for FY2024 to S$0.0286, up 3.6 per cent from FY2023, said the manager on Tuesday. It comes as the Reit’s revenue grew 2.7 per cent on the year to S$58.1 million, lifted by strong positive rental reversions across its portfolio. Units of Sabana Reit closed 1.4 per cent or S$0.005 higher at S$0.375 on Tuesday, before the news. 

Trading halt: Solid waste collection company $5E Resources(NLC.SI)$ called for a trading halt on Wednesday morning, pending an announcement on the results of a scheme meeting. The counter closed Tuesday flat at S$0.375. 

Inchcape+, a subsidiary of London Stock Exchange-listed automotive distributor Inchcape, opened a BYD showroom in Singapore on Jan 21 and signed an agreement with ComfortDelGro (CDG) to promote the adoption of commercial fleets. The 2,000 sq ft BYD Commercial Mobility Hub at 1 Corporation Drive in Jurong cost around $300,000 to develop and is designed to showcase BYD’s electric commercial vehicle technologies.

SG Local News

Economists Split on Singapore Monetary Policy Amid Trump 2.0 Uncertainties

Economists are split on whether Singapore's central bank will loosen monetary policy this week or leave its settings unchanged to wait to see what policies U.S. President Donald Trump introduces in his second term.

Reuters polled 12 analysts and six expect the Monetary Authority of Singapore to loosen its currency-based monetary policy at a scheduled review on Friday to reflect an easing in inflation and stronger-than-expected economic growth in 2024.

The other six expected no change in the policy settings.

The MAS has not changed policy since a tightening in October 2022, which was the fifth in a row, as broader concerns about growth kept authorities sidelined.

Morgan Stanley Boosts Senior Asia Banker Bonuses by up to 40%

Morgan Stanley is raising bonuses for some of its top investment bankers in Asia by as much as 40 per cent in 2025 after a jump in revenue, according to people familiar with the matter.

On average, the New York-based bank has raised bonuses for its senior ranks in Asia by the high teens to compensate them after lean payouts the previous year, said the sources, asking not to be identified discussing private information.

Top performers in markets, including India and Australia, are set to receive increases of 30 per cent to 40 per cent, the sources said.

Morgan Stanley’s revenue from Asia investment banking and capital markets, excluding Japan, rose about 50 per cent in 2024 to more than US$600 million (S$816 million), while its bonus pool grew roughly 20 per cent, the sources said.