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.
China's top trade negotiator met with Westinghouse Electric Company CEO on Tuesday
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PRE-MARKET SINGAPORE STOCK NEWS: Singapore Telecommunications (ST SP) Q3 (SGD) net rose 43.5% Y/Y to 1.89bln
Witnesses reports explosions in Ukraine's capital of Kyiv
[MARKET UPDATE] Pressure seen in precious metals with spot gold down 0.5% and spot silver leads the retreat with losses of 2.5% to test USD 82/oz to the downside
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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)
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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