There was a host of corporate actions and earnings announcements involving the stocks in our three portfolios this past week. And, our blue-chip holdings made some big moves.
First, the bad news: shares in Singapore Airlines (SIA) took a hit right after reporting its results. While sharply lower fuel costs saw earnings more than double to $804 million for FY2016 ended March 31, the market seemed to be spooked by continued pressure on its yields. It also didn’t help that oil prices have been rising strongly recently, which could reduce the tailwind of low fuel costs in the quarters ahead.
The latest issue of The Edge Singapore (Issue 729, May 23) has a lengthy story on SIA, which looks at the turnaround unfolding at its budget carriers Tiger Airways and Scoot as well as the continued pressure on profitability at the parent airline. We will be closely monitoring this stock in the weeks ahead, and comparing it to other potential holdings in our blue-chip portfolio. Shares in SIA have declined 3.6% in the past week. They are down 6.2% since we added it to the portfolio.
In the meantime, firmer oil prices seemed to have a positive effect on shares in DBS Group Holdings, perhaps because it would mean reduced pressure on its clients in the oil and gas (O&G) sector. The financial services group’s shares climbed 1.3% over the past week. Its peers Oversea-Chinese Banking Corp (OCBC) and United Overseas Bank (UOB) registered gains of 1.3% and 1% respectively over the past week.
Elsewhere, shares in City Developments (CDL) rose 1.4% during the week. Sales at its executive condominium projects have reportedly been doing quite well. Also, in its results announcement last week, the property and hotel conglomerate said it expects its overseas development projects to begin contributing to its earnings from 2H2016.
On May 20, CDL paid out a final dividend of 8 cents a share, as well as a special final dividend of 4 cents a share for FY2015. Based on our current holdings, this pay-out amounts to $156. This is the company’s first dividend pay-out since it was added to our portfolio.
SIA, DBS and CDL are holdings in our blue-chip portfolio. The other stocks in the portfolio are Singapore Telecommunications (Singtel), ST Engineering, and Dairy Farm International Holdings. These six stocks have collectively slipped 5.23% since they were added to the portfolio. The STI has plunged 15.73% since this portfolio was started.
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First, the bad news: shares in Singapore Airlines (SIA) took a hit right after reporting its results. While sharply lower fuel costs saw earnings more than double to $804 million for FY2016 ended March 31, the market seemed to be spooked by continued pressure on its yields. It also didn’t help that oil prices have been rising strongly recently, which could reduce the tailwind of low fuel costs in the quarters ahead.
The latest issue of The Edge Singapore (Issue 729, May 23) has a lengthy story on SIA, which looks at the turnaround unfolding at its budget carriers Tiger Airways and Scoot as well as the continued pressure on profitability at the parent airline. We will be closely monitoring this stock in the weeks ahead, and comparing it to other potential holdings in our blue-chip portfolio. Shares in SIA have declined 3.6% in the past week. They are down 6.2% since we added it to the portfolio.
In the meantime, firmer oil prices seemed to have a positive effect on shares in DBS Group Holdings, perhaps because it would mean reduced pressure on its clients in the oil and gas (O&G) sector. The financial services group’s shares climbed 1.3% over the past week. Its peers Oversea-Chinese Banking Corp (OCBC) and United Overseas Bank (UOB) registered gains of 1.3% and 1% respectively over the past week.
Elsewhere, shares in City Developments (CDL) rose 1.4% during the week. Sales at its executive condominium projects have reportedly been doing quite well. Also, in its results announcement last week, the property and hotel conglomerate said it expects its overseas development projects to begin contributing to its earnings from 2H2016.
On May 20, CDL paid out a final dividend of 8 cents a share, as well as a special final dividend of 4 cents a share for FY2015. Based on our current holdings, this pay-out amounts to $156. This is the company’s first dividend pay-out since it was added to our portfolio.
SIA, DBS and CDL are holdings in our blue-chip portfolio. The other stocks in the portfolio are Singapore Telecommunications (Singtel), ST Engineering, and Dairy Farm International Holdings. These six stocks have collectively slipped 5.23% since they were added to the portfolio. The STI has plunged 15.73% since this portfolio was started.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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