VICOM Ltd 1H 2025 Financial Results: Revenue Up 24.1%, Interim Dividend of 3.10 Cents Payable on 26 August 2025 21617
https://www.minichart.com.sg/2025/08/11/vicom-ltd-1h-2025-financial-results-revenue-up-24-1-interim-dividend-of-3-10-cents-payable-on-26-august-2025-21617/
Keppel Sells M1’s Telco Business to Simba: Unlocks S\$1 Billion Cash,
Significant capital unlocked (S\$1 billion) and lower debt could lead to capital management initiatives, such as special dividends, buybacks, or new investments.
https://www.minichart.com.sg/2025/08/11/keppel-sells-m1-telco-business-to-simba-telecom-for-s1-43-billion-to-strengthen-singapores-digital-economy-123/
Keppel DC REIT to sell its entire interest in NetCo Bonds and Preference Shares for approximately S\$79.2 million.
https://www.minichart.com.sg/2025/08/11/keppel-dc-reit-announces-proposed-sale-of-netco-bonds-and-preference-shares-to-refocus-on-data-centre-growth-12/
CapitaLand Ascendas REIT (CLAR) embarks on its first logistics property developments in the UK, with a total investment cost of approximately S\$350.1 million (£203.5 million). DPU Accretion: The acquisition is expected to be DPU-accretive, which could have a positive impact on future distributions to unitholders.
https://www.minichart.com.sg/2025/08/11/capitaland-ascendas-reit-invests-s350-million-in-first-uk-logistics-developments-expanding-green-certified-portfolio-in-east-midlands/
CapitaLand Ascendas REIT Completes S\$500 Million Fundraising and Strategic Data Centre Acquisition
https://www.minichart.com.sg/2025/08/11/capitaland-ascendas-reit-completes-acquisition-of-9-tai-seng-drive-and-fully-utilises-s500-million-private-placement-proceeds-1/
📰 Trump Extends China Tariff Truce; Corporate Earnings Paint Mixed Picture Across SGX, US & Global Markets
US:DGT:Dow Jones Industrial Average
US:QQQ:Nasdaq Composite
SGX:S27.SI:S&P 500
US President Donald Trump has extended the 90-day pause on tariffs for Chinese goods until early November, averting a spike to 54% tariffs. The deal, agreed in Sweden last month, keeps duties lower (US at 30%, China at 10%) and resumes rare earth exports. Talks continue on fentanyl duties, sanctioned oil purchases, and US business operations in China. Trump may visit China in October to meet President Xi Jinping.
US:NVDA:Nvidia
US:AMD:Advanced Micro Devices
Nvidia and AMD will pay 15% of Chinese AI chip revenues to the US government for export licenses. Nvidia’s H20 sales to China could bring in $1B a quarter for the US if trade resumes. Beijing has raised security concerns over these chips, potentially benefiting domestic producers like Huawei.
SGX:A30.SI:Aspial Corporation
Aspial posted 1HFY2025 earnings of $7.94M, up on strong Retail (+37.7%) and Financial Services (+36.8%) growth, offset by a 7.3% decline in Real Estate. The group remains optimistic for 2HFY2025, with steady retail demand and expanding secured lending.
SGX:I07.SI:ISDN Holdings
ISDN’s earnings fell 66% y-o-y to $1.3M due to FX losses, despite revenue rising 22% to $174.6M. China industrial automation grew 3.7%, while Southeast Asia gained 15.1%.
SGX:MXC.SI:Mooreast Holdings
Mooreast saw profit surge over fourfold to $6.8M on an 84% jump in revenue to $25.2M, supported by high-value mooring orders.
SGX:5WJ.SI:MoneyMax Financial Services
MoneyMax’s 1HFY2025 profit rose 78.8% to $29.6M, driven by higher gold prices and increased pawnbroking revenue.
SGX:S61.SI:SBS Transit
SBS Transit’s profit fell 7.7% to $31.1M as loss of the Jurong West bus package cut revenue despite higher rail fares.
SGX:C52.SI:ComfortDelGro
Subsidiary Vicom’s earnings rose 10.2% to $15.6M, aided by the ERP 2.0 On-Board Units project and higher testing volumes.
SGX:YKGI.SI:YKGI
YKGI’s earnings dropped 20.6% to $1.96M despite revenue growth from new food court outlets and rising foot traffic.
SGX:5WH.SI:Rex International
Rex reported July oil production of 13,719 boepd from Norway and Oman, with new well output in Brage Field.
SGX:A17U.SI:CapitaLand Ascendas REIT
CLAR completed the $275.5M acquisition of 9 Tai Seng Drive data centre, funded from its $500M private placement.
SGX:K71U.SI:Keppel REIT
Keppel REIT issued $300M 3.78% subordinated perpetual securities under its $2B debt programme.
SGX:G13.SI:Genting Singapore
Genting Singapore’s 1HFY2025 earnings fell 35% to $233.1M on renovation disruptions at Resorts World Sentosa. Analysts remain positive on long-term prospects under RWS 2.0, despite short-term margin pressures.
SGX:BKM.SI:Beng Kuang Marine
Maybank maintained a “hold” on BKM with TP of $0.22, citing margin improvements but caution over oil price declines.
SGX:S68.SI:Singapore Exchange
SGX posted a 27% y-o-y rise in July securities turnover to $33.8B, with small/mid-cap trading up 94% m-o-m.
HK:300750.SZ:CATL
CATL halted production at its Jianxiawo lithium mine after license expiry, boosting lithium futures 8% and lifting shares of Australian miners PLS (+19%), Liontown (+25%), and Mineral Resources (+14%).
🚗 BYD Throws Back to Old-School Glam in Atto 2 Launch, and It’s Winning the EV Game in Singapore
HK:1211.HK:BYD Company
BYD turned heads on Aug 5 with the launch of its Atto 2 at Zouk, drawing over 700 attendees for a spectacle reminiscent of the car industry’s flashier past. The event — complete with influencer photo ops and an open bar — stood in stark contrast to the low-key showroom unveilings common today.
BYD’s showmanship is matched by its dominance in Singapore’s EV market. It was the top-selling brand here last year, moving more than twice as many units as all other Chinese brands combined, and is on track to hit 10,000 sales in 2025. Its Sealion 7, launched at the Singapore Motorshow 2025, is now the brand’s best-seller, and the Sealion 6 DM-i plug-in hybrid has already notched over 100 local orders since its July debut.
Competitors grumble about BYD’s hefty marketing budget, but the brand’s edge lies in more than just money — it has cracked the formula for local buyers, delivering strong value for money and the social cachet of EV ownership. In doing so, BYD is showing that sometimes the old ways — big launches, bold marketing — still work best.
📮 SingPost’s Big Asset Sales Raise Cash — But Leave Its Long-Term Strategy in Question
SGX:S08.SI:Singapore Post
At its July 23 AGM, outgoing chairman Simon Israel praised the timely sale of SingPost’s Australian logistics arm, Freight Management Holdings (FMH), completed in March for A$1.02B (S$897.6M). The deal netted A$781.5M in gross proceeds and a reported S$302.1M gain, two-thirds of which will be returned via a S$0.09 special dividend on Aug 14.
The disposal, however, removes a major earnings driver, prompting investor concerns over SingPost’s strategic future. Recent moves include the S$177.9M sale of its freight forwarding units Famous Holdings and Rotterdam Harbour Holding, a S$55.9M crossholding unwind with Alibaba in Quantium Solutions International and Shenzhen 4PX, and a S$55.5M sale-and-leaseback of 10 HDB retail units. Even SingPost Centre (valued at S$1.1B) is tagged as a potential divestment.
While the group is reintegrating its international and local logistics arms and investing S$30M in e-commerce logistics capacity, its share price has slipped to S$0.505, down 4.7% YTD. S&P Global cut its rating to “BBB-” on July 25, citing structural decline in postal services, high fixed costs, and fierce competition.
With no clear breakthrough in profitability and “nationalisation” ruled out, analysts warn SingPost may simply drift — recycling capital into new ventures without delivering a sustained lift in market value.
💉 Chinese Flu Shot Maker Ab&B Rockets 169% in Hong Kong Debut as Retail Investors Pile In
HK:2255.HK:Ab&B Bio-Tech
Ab&B Bio-Tech surged as much as 169% to HK$34.64 in its Aug 11 Hong Kong debut, far above its HK$12.90 IPO price, after retail investors flooded the offering with over US$20B in margin loan bids — thousands of times the available shares.
The influenza vaccine maker, also developing rabies, herpes, and respiratory disease shots for China and global markets, is the last company to list under rules allowing retail investors up to 50% of allocations in oversubscribed IPOs. From August, that cap drops to 35%.
Its blockbuster start echoes 2025’s strong debuts for HK:2115.HK:Duality Biotherapeutics and HK:2250.HK:Nanjing Leads Biolabs, both of which more than doubled on listing day, cementing healthcare as the Hang Seng Composite Index’s best-performing sector this year.
🏛 Trump Weighs Multiple Contenders for Next Fed Chair as Powell’s Future Remains Unclear
US:FederalReserve:Federal Reserve
The Trump administration is weighing a shortlist of candidates to replace Jerome Powell as US Federal Reserve chair when the position opens next year, with Vice-Chairs Michelle Bowman and Philip Jefferson, and Dallas Fed President Lorie Logan among the frontrunners. Treasury Secretary Scott Bessent is leading the search, with interviews of additional contenders planned in coming weeks.
Other names under consideration include Trump economic adviser Kevin Hassett, Fed Governor Christopher Waller, economist Marc Sumerlin, and former Fed officials Kevin Warsh and James Bullard. Last week, Trump nominated Stephen Miran, chair of the White House Council of Economic Advisers, to a Fed Board seat vacated early by Adriana Kugler; the role expires in January.
Trump, a vocal critic of Powell over interest rate policy, may face limits in appointing a successor, as Powell could remain on the Board until 2028 even after his chair term ends in May. Any outsider appointment or promotion to chair would require Senate confirmation.
🥇 Trump Clarifies: No Tariffs on Gold Imports After Market Jitters
US:GC:Gold Futures
US President Donald Trump said Monday that gold imports “will not be tariffed,” ending days of market confusion sparked by a US Customs ruling that suggested certain gold bars could face duties. The July 31 letter classified two standard-weight bars (totaling 2.8 kg) as tariffable, prompting fears they could be caught in Trump’s “reciprocal” tariffs on goods from dozens of economies — including Switzerland, where gold faces a 39% levy.
The news sent December gold futures on US:COMEX:Comex to a record high Friday, as 1-kg bars — the most common traded form and a major Swiss export to the US — appeared at risk. A White House official said an executive order will soon “clarify misinformation” about tariffs on gold bars and specialty products.
Gold, already at record levels this year due to tariff tensions and geopolitical risks, eased slightly after Trump’s statement, while the US dollar inched 0.1% higher against rivals, making gold pricier for holders of other currencies.
🛢 Oil Holds Steady Ahead of Trump–Putin Peace Talks on Ukraine
US:UCO:Oil
Brent crude settled up 0.06% at US$66.63 a barrel, while US West Texas Intermediate gained 0.13% to US$63.96 on Monday, pausing after last week’s 4% drop as markets await the Aug 15 meeting between US President Donald Trump and Russian President Vladimir Putin in Alaska to discuss ending the Ukraine war. Trump said both Ukraine and Russia would have to cede land for peace and hinted at tougher penalties on Moscow if no deal is reached.
UBS cut its year-end Brent forecast to US$62 from US$68, citing higher supply from South America, resilient sanctioned output, and softer Indian demand. Opec+ output rose in July, tempered by Iraq’s extra cuts and Kurdish oilfield disruptions, while analysts warned a ceasefire could free up Russian oil flows.
Meanwhile, an US:XOM:Exxon Mobil-led consortium began crude production four months early at a fourth FPSO in Guyana, adding to global supply, as China reported steeper-than-expected July producer price declines.
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