PRE-MARKET SINGAPORE STOCK NEWS: Singapore Telecommunications (ST SP) Q3 (SGD) net rose 43.5% Y/Y to 1.89bln

Singapore Telecommunications' Q3 net profit surged by 43.5% year-on-year, largely driven by a significant exceptional gain from asset sales.

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Far East Hospitality Trust (FEHT SO) - Co. H2 (SGD) net property income rose 2.1% Y/Y to 50.9mln, while DPS fell 7.7% Y/Y to 2.08 cents. (Business Times)

Singapore Telecommunications (ST SP) - Co. Q3 (SGD) net rose 43.5% Y/Y to 1.89bln, which includes an exceptional gain of SGD 1.15bln largely from the sale of a partial stake in Bharti Airtel (BHART IS), underlying net rose 744mln (prev. 680mln Y/Y), oper. revenue rose 0.9% YY to 3.66bln. (Newswires)

StarHub (STH SP) - Co. H2 (SGD) net profit fell 50.9% Y/Y to 38.5mln, rev. fell 3.1% Y/Y to 1.2bln. (Business Times)

Grab Holdings (GRAB) - Co. announced to acquire US digital investing platform Stash Financial, which is valued at USD 425mln. (Grab)

Context

The underlying net profit also saw an increase, although the operational revenue growth was modest. This strong performance, particularly the exceptional gain, might indicate positive momentum for the stock in the near term, but traders should monitor how much of this is sustainable versus one-off in nature.

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