Singapore shares end week on high; STI up 0.7%
The STI rose 0.7 per cent or 28.07 points to close at 4,189.50, after hitting an intraday peak of 4,192.19.
The gains were buoyed by DBS , which hit a high of S$47.05 on Friday morning. It eventually closed 0.7 per cent or S$0.31 higher at S$46.99.
Seatrium was the STI's top gainer of the day, rising 5.8 per cent or S$0.13 to S$2.38. The offshore and marine specialist was also the most actively traded counter by volume, with 36.7 million shares worth S$85.9 million traded.
The biggest decliner was property developer Hongkong Land . The counter fell 1.1 per cent or US$0.07 to US$6.25.
Across the broader market, advancers outnumbered decliners 430 to 147, after 2.2 billion securities worth S$1.6 billion changed hands.
Regional markets ended Friday mixed. Australia's ASX 200 jumped 1.4 per cent to a record close of 8,757.20 points, and Hong Kong's Hang Seng Index was up 1.3 per cent. Meanwhile, Japan's Nikkei 225 slipped 0.2 per cent ahead of its upper house elections this weekend.
Stephen Innes, managing partner of SPI Asset Management, said that political uncertainty is casting a long shadow over Japan's markets, given that the ruling Liberal Democratic Party-Komeito coalition might fail to secure a majority win in the upper house.
'That sets the stage for a potential leadership shuffle, snap election, or an unstable coalition – all of which would make investors nervous about Japan's ability to navigate complex trade talks and push through cohesive fiscal policy,' Innes added.
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Straits Times
20 minutes ago
- Straits Times
Seatrium first-half profit soars 301% to $144 million amid strong order book, higher margins
Sign up now: Get ST's newsletters delivered to your inbox Seatrium chief executive Chris Ong said the group's first half results demonstrate the robustness and diversity of its order book. SINGAPORE - Seatrium's net profit for the first half of 2025 swelled on the back of a strong order book and higher margins, the company announced in a filing on the Singapore Exchange on July 31. Profit for the six months ended June 30 was $144 million, a 301 per cent jump from $36 million for the first half of 2024. But underlying net profit, which excludes legal and corporate claims, rose 16 per cent to $133 million from $115 million. No dividend was proposed for the period, the same as for the year-ago period. Seatrium's results come a day after the offshore and marine company announced the conclusion of Singapore's authorities investigation into potential offences in Brazil. The Singapore-listed company was implicated in Operation Car Wash, a major corruption scandal in Brazil, which involved allegations of paying bribes to secure contracts. Seatrium on July 30 said it will pay financial penalties to the Brazilian and Singapore authorities totalling $241.7 million to settle the long-drawn corruption probe. As at the end of June, Seatrium's net order book stood at $18.6 billion, of which $6.3 billion are renewables and cleaner or green solutions. The order book comprises 25 projects with deliveries till 2031. Top stories Swipe. Select. Stay informed. Asia Trump says US will set 15% tariff on South Korean imports under new deal Business US Fed holds rates steady despite Trump's pressure, with two governors dissenting Singapore $10 million Toto results to be announced on July 31, after no winners in last 3 draws World Canada to recognise Palestinian state at UN General Assembly: Carney Multimedia 60 years, 60 items: A National Day game challenge Life Singlish, rojak and NDP: Dick Lee's SingaPop! exhibition celebrates evolution of local pop culture Singapore Regional eco-tours, more full-time staff: S'pore's Nature Society restructures to boost conservation Singapore Escape, discover, connect: Where new memories are made Chief executive officer Chris Ong said: 'Our first half financial results demonstrate the strength of Seatrium's disciplined execution, as well as the robustness and diversity of our order book.' He added that this healthy order book also continues to provide revenue visibility. 'Despite a volatile macro environment, rising global energy demand and an increased focus on energy security continue to shape industry priorities and underpin a sizeable pipeline for energy infrastructure assets,' he added. 'We remain confident in delivering long-term value to all our stakeholders by building a profitable and resilient business.' Seatrium said its gross margin rose to 7.4 per cent from 3.7 per cent in the first half of 2024, due to a favourable mix of higher-margin projects, operational efficiencies, and continued cost optimisation. Revenue for the first half grew 34 per cent, reflecting the strong execution of its robust order book, it added. Earnings before interest, taxes, depreciation and amortisation (Ebitda) stood at $407 million, up from $311 million for the year-ago period. On its outlook, the company said it has a diversified portfolio of offshore oil and gas, offshore wind solutions, and maritime repairs and upgrades, which positions it favourably to capitalise on long-term energy demand growth. 'The group's multi-pronged strategy and proven execution have enhanced the resilience of its business at a time of ongoing geopolitical volatility,' Seatrium added. 'Looking ahead, Seatrium remains focused on achieving profitable growth by expanding its franchise of series-build projects, prioritizing execution excellence, enhancing productivity and driving cost efficiencies,' it said. It also noted that the group is making good progress towards its 2028 financial targets. These targets include growing its Ebitda to over $1 billion and achieving a return on equity of more than 8 per cent. In February, Seatrium delivered its fourth Floating Production Storage and Offloading vessel (FPSO) project for Guyanese waters, off the coast of South America. An FPSO is a floating vessel used by the offshore oil and gas industry. It also delivered its 18th FPSO to BW Offshore, which will be deployed in offshore northern Australia. This is among the largest FPSOs ever delivered to the country. Seatrium also celebrated the sailaway of the first of six newbuild FPSOs to be delivered to multinational oil and gas company Petrobras. 'Global energy demand continues to rise, driven by emerging markets, digitalisation, and energy security priorities,' Seatrium said, adding that it sees stable demand for offshore oil and gas assets, with twelve ongoing projects. When it comes to offshore wind, Seatrium also made steady progress on its projects, such as working on the second of its three offshore converter platforms for European firm Tennet, which will be deployed in the Dutch North Sea. It also has three offshore wind projects on track for delivery this year, which will be used in locations such as the North Sea and off the coast of Taiwan. It is also working on a wind turbine installation vessel for use off the coast of Virginia. 'Offshore wind continues to be in demand in Europe and the Asia Pacific, as nations advance energy transition goals,' Seatrium said. It added that it is actively engaging transmission system operators in Europe and commercial developers in Asia Pacific on their requirements for upcoming offshore wind farms. In addition, Seatrium also completed 101 repairs and upgrades projects, supporting maritime decarbonisation goals. 'There is strong interest for Seatrium's maritime decarbonisation solutions,' it said. In June 2025, it signed a letter of intent with long-term strategic partner Solvang ASA to install and retrofit carbon capture and storage systems. Seatrium shares were down 3.3 per cent, or eight cents, to $2.32 as at 9.17am on July 31. They had closed up 0.8 per cent at $2.40 the previous day.
AsiaOne
20 minutes ago
- AsiaOne
New York detectives head to gunman's home in Nevada amid calls for gun control, World News
NEW YORK — New York City detectives investigating this week's mass shooting were interviewing the attacker's associates in his home state of Nevada on Wednesday (July 30), as gun safety advocates expressed dismay that he was able to buy a gun there legally last month despite two reported mental health hospitalisations. Authorities say Shane Tamura, 27, drove from his Las Vegas home to Manhattan, marched into an office skyscraper on Monday and fatally shot four people, including an off-duty police officer, with an assault-style rifle before taking his own life. Tamura legally purchased a revolver in Nevada in June at a gun store, New York police said, even though, according to multiple news reports, he was hospitalised under an emergency "mental health crisis hold" in 2022 and again in 2024. The details of those episodes were not known. Authorities have said Tamura carried a note on Monday in which he claimed he suffered from chronic traumatic encephalopathy, or CTE, a brain disease linked to football and other contact sports that can affect behaviour. The disease can only be confirmed after death. New York City's medical examiner said in an email that Tamura's brain would be examined as part of a complete autopsy but did not say whether it would be screened for CTE. Tamura, who shot himself in the chest on Monday, bought the rifle he used in the attack from a supervisor at the casino where he worked for US$1,400 (S$1,811), CNN reported on Wednesday, citing law enforcement sources. Nevada law requires private gun sales to go through a licenced firearms dealer and include a background check. Whether he obtained the rifle legally or not, advocates for stricter gun laws said the case showed a need for tougher regulations nationwide, especially for people with mental health problems. [[nid:720757]] "It is horrifying... that a man with documented mental health struggles was able to purchase a weapon, let alone a weapon of such devastating capability," New York City mayoral candidate Zohran Mamdani told reporters on Wednesday, urging a national ban on assault rifles. New York is one of 10 states that bans such weapons, according to the advocacy group Everytown for Gun Safety. The National Rifle Association, the New York State Firearms Association and the New York State Rifle & Pistol Association did not immediately respond to requests for comment. The groups oppose restrictions on guns as an infringement on individual rights. Red flag laws Under Nevada law, officers can detain individuals on emergency holds in mental health facilities or hospitals for up to 72 hours for evaluation. In a handful of states including New York — which has some of the strictest gun laws in the nation — such emergency holds trigger some version of a ban on possessing guns, according to experts. But in most states, including Nevada, as well as under federal law, only a court-ordered involuntary commitment results in a prohibition on buying and owning guns. "What this shooting in New York highlights more than anything else is that we're only as safe as the laws of the weakest state," said Nick Suplina, Everytown's senior vice president for law and policy. Nevada has enacted a series of gun limits since an October 2017 mass shooting that killed 58 people in Las Vegas. Giffords, another gun safety advocacy organisation, gave Nevada a "B-" grade in its annual scorecard of gun laws, compared with an "A" for New York. A new Nevada law that took effect this month — too late to apply to the Manhattan shooter — allows law enforcement officers to take away guns temporarily from someone who is on an emergency mental health hold. The officer can also petition a court to retain the guns if the person is deemed a danger to themselves or others. That law is similar to Nevada's "red flag" statute, which allows law enforcement or relatives to ask a court to seize firearms from anyone considered a risk. [[nid:720741]] The new law was needed because patrol officers often don't have time to petition a court when they're dealing with someone in a mental health crisis, according to John Abel, governmental affairs director at the Las Vegas Police Protective Association. "We needed the ability to be able to safely and legally pick up that firearm while we were on the scene," he said. Had the new law been in effect in 2022 and 2024 when Tamura was placed under mental health holds, officers could have temporarily impounded his firearms. But he would have been able to pick them up from the police station once he was discharged from the hospital. Although he identifies as a "proud Second Amendment supporter," Abel said he thinks Nevada needs further legislation to "take firearms out of the hands of someone who is deemed incompetent to hold them because of mental health reasons." Twenty-one states have enacted red-flag laws, according to Everytown for Gun Safety. Tamura was able to obtain a concealed carry permit in 2022, according to news reports, although it was unclear whether he did so before or after his first hospitalisation. His permit would have allowed him to buy the revolver last month without a background check under state law. [[nid:720721]]
Business Times
an hour ago
- Business Times
Grab reports a Q2 2025 earnings of US$35 million on higher revenue and margins
[SINGAPORE] Superapp Grab reported Q2 2025 earnings of US$35 million, reversing from a loss of US$53 million in the same year-ago period. This was driven by operating profit and lower finance costs, and also partially offset by higher income tax expenses in Q2 2025. Revenue for the period grew 23 per cent to US$819 million from US$664 million the year prior. Operating profit also rose to US$7 million in Q2 2025 from a loss of US$56 million in Q2 2024. This was driven by higher revenue, improved margins, cost management and lower share-based compensation expenses. Adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 69 per cent to US$109 million from US$64 million. This was driven by growth in on-demand gross merchandise value and revenue, and improving profitability on a segment adjusted Ebitda basis. Grab's guidance for revenue and adjusted Ebitda remains unchanged. The company is still guiding for revenue to be between US$3.3 billion to US$3.4 billion with a 19 to 22 per cent growth. Adjusted Ebitda is guided to be between US$460 million to US$480 million with a 47 to 53 per cent growth. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Revenue for the financial segment grew 41 per cent to US$84 million in Q2 2025 from US$64 million in Q2 2024, the highest growth by percentage across Grab's business segments. This was driven by increased contributions from lending across GrabFin and the digital banks. The loan portfolio rose 78 per cent to US$708 million in Q2 2025 from US$397 million in Q2 2025. The total loans disbursed in Q2 2025 grew 44 per cent to US$721 million. Customer deposits in GXS and GX Banks hit US$1.5 billion in Q2 2025, from US$730 million in Q2 2024 and from US$1.4 billion in Q1 2025. Anthony Tan, chief executive officer and co-founder, Grab said: 'We will continue to execute on our strategy to drive product- and tech-led innovations to enhance the affordability and reliability of our services, further deepen user engagement and retention, while attracting new users to the Grab ecosystem.' Shares of Grab closed down 0.4 per cent or US$0.02 to US$5.29 on Thursday.
