Market Updates: Companies in Focus
Singapore Exchange (SGX) Sees Increase in Securities Market Turnover
The total securities market turnover value on the Singapore Exchange (SGX) increased by 1% year on year to S$20.8 billion in January. This marks a 17-year high for the Straits Times Index, while exchange-traded funds’ assets under management reached a record level. The total market turnover volume fell 31% to 19.1 billion shares. Shares of SGX rose 0.7% or S$0.09 to S$13.79 on Tuesday, preceding the news.
Far East Hospitality Trust (FEHT) Posts Distribution per Stapled Security
Far East Hospitality Trust (FEHT) reported a distribution per stapled security of S$0.0208 for the second half ended December, a 4.1% decrease from S$0.0217 in the previous corresponding period. The distribution to stapled securityholders fell 3.6% on the year to S$41.9 million, mainly due to higher finance costs and a change in the proportion of the manager’s fee. Stapled securities of FEHT closed Tuesday 0.8% or S$0.005 higher at S$0.605.
Wing Tai Holdings Sees Continued Profit Decline
Wing Tai Holdings, a property and retail company, reported a continued decline in net profit in the first half of its 2025 fiscal year. The company’s property assets contributed lower profits, following the sale of one of its condominium projects. Higher sales and finance costs were also incurred for the six-month period ended December 31, 2024. Shares of Wing Tai declined 0.8% or S$0.01 to close at S$1.21 on Tuesday, before the announcement.
PropNex Named as Co-Defendant in Lawsuit
PropNex, a real estate services group, announced that its wholly-owned subsidiary PropNex Realty has been named as one of three co-defendants in a lawsuit. The suit, filed by a claimant, seeks damages from PropNex Realty for liability arising from the alleged misconduct of one of its salespersons and his purported advice. The group stated that it has evaluated the basis and merits of the suit and intends to defend it. Shares of PropNex closed at S$1.12, down 0.9% or S$0.01, before the news.
Conclusion
The above companies have seen new developments that may impact trading of their securities. Investors are advised to monitor these updates and consider the potential implications on their investments.
FAQs
Q: What is the total securities market turnover value on the SGX?
A: The total securities market turnover value on the SGX increased by 1% year on year to S$20.8 billion in January.
Q: How did shares of SGX perform on Tuesday?
A: Shares of SGX rose 0.7% or S$0.09 to S$13.79 on Tuesday, preceding the news.
Q: What is the distribution per stapled security for FEHT?
A: FEHT reported a distribution per stapled security of S$0.0208 for the second half ended December.
Q: What are the implications of the lawsuit against PropNex?
A: PropNex has been named as a co-defendant in a lawsuit and intends to defend itself against the allegations.
