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Straits Times
20 hours ago
- Politics
- Straits Times
Arrested for drug abuse, former DJ now works for anti-drug group as part of DRC scheme
Sign up now: Get ST's newsletters delivered to your inbox Former DJ Kyrul Ashrie Hans Daud (left) and Richard, a representative from the Singapore Anti-Narcotics Association, work together to advocate against the abuse of drugs. SINGAPORE – Former DJ Kyrul Ashrie Hans Daud was a rising star in 2023 at Malay radio station Ria 89.7FM, but a drug habit ended his career. He was 31, and partying hard with friends who were regular drug users. Hans, as he prefers to be known, said he had been abusing drugs for seven years at that point in his life, even smoking methamphetamine, or Ice, every day at the height of his addiction. 'At first, the drug use was just once in a while, but it (eventually) became more frequent – from once every two months, once a month, and then every day,' he told The Straits Times. Hans is now a social media executive at the Singapore Anti-Narcotics Association (Sana), where he advocates against the abuse of drugs. He said: 'I've seen many different types of people in the Drug Rehabilitation Centre. (Drug addiction) can happen to anyone. 'Addicts may not be aware that they have a problem. But if the people around them can spot the problem, someone's life could be saved.' Top stories Swipe. Select. Stay informed. Singapore NDR 2025: New govt-funded traineeship scheme for ITE, poly, university graduates Singapore NDR 2025: CDCs to spearhead new effort to match job seekers to roles nearer to home, says PM Wong Singapore NDR 2025: US baseline tariff of 10% on Singapore offers 'little comfort', says PM Wong Singapore NDR 2025: More avenues for S'poreans to be heard, get involved will be opened up, says PM Wong World European leaders to join Zelensky for Ukraine talks with Trump Sport Third time's the charm as Aaron Liang dethrones Samuel Kang en route to national squash title Asia Mandarin with Taiwanese characteristics: Taipei leverages language as soft power tool Asia 'Rats from the sky': Urban India finds itself divided on pigeons Hans knows this well. The road to recovery has not been smooth for him, he said. He was arrested the first time in June 2023, just seven months after he tied the knot. The Central Narcotics Bureau (CNB) had picked him up for drug consumption. Hans was released in December 2023, but relapsed when he lost his career and after his marriage ended in September 2024. Hans was sent to the Drug Rehabilitation Centre (DRC) a second time that month. He is now on the verge of completing his second stint at Institution S2, a step-down facility at Selarang Park Complex. Inmates staying in the dormitories are allowed to leave for work or study or to attend skills training in the community before returning in the evening. The Day Release Scheme is one of four community-based programmes that the Singapore Prison Service (SPS) offers to eligible inmates at the tail end of their sentences. It is part of efforts to help them reintegrate into society. Mr Kyrul Ashrie Hans Daud is now a social media executive at the Singapore Anti-Narcotics Association. ST PHOTO: NG SOR LUAN For Hans, it means he is allowed to leave the compound to go to work at Sana. In the evenings, he returns to the dormitory, which he shares with 15 other male inmates. The facility has 16 dorms, which can house 16 supervisees each. As at June 30, 123 supervisees, aged between 19 and 81, were residents. Speaking to ST at Institution S2 on July 3, Hans said he decided to share his story to help others who are fighting addiction. After his release the first time, he said, he struggled to cope with the loss of his career as a DJ and his marriage. With no other coping mechanisms, Hans called up a friend who supplied him with drugs. 'I took a few puffs, and I realised, 'Damn, I am an addict, even after 10 months (of being clean), I couldn't let this go'. 'I didn't like the term 'addict', but I knew I had to acknowledge it and do something about it.' Although he got rid of the drugs that very night, his then wife had already alerted the authorities. A urine test came back positive, and he was back in the DRC. This time, Hans said, he started taking his rehabilitation seriously. He participated in rehabilitation programmes inside the DRC, including psychology-based correctional programmes, which help drug abusers change their mindsets and teach them skills to resist drugs. 'I learnt about my past traumas, which could have led to my drug use, and I began to understand how to love myself. 'With drugs, it's the high that people are chasing, but there's a lot of psychological and emotional damage.' He said: 'The more drugs you take, the more you feel like isolating yourself, and these are unhealthy things that addicts do.' Hans also decided to cut contact with friends who were drug users. 'Drug-using friends are a huge hurdle (to recovery),' he said. 'But I needed to let them know that I didn't want to be associated with drugs any more. It was not an easy thing to do because I've known them for so many years.' SPS said about 600 supervisees are placed on the Day Release Scheme every year. Supervisees in the community-based programmes are supported by reintegration officers, counsellors and case managers. If needed, they are referred to the relevant agencies for financial assistance or help with accommodation. Once they are released, supervisees are placed under the CNB 's supervision for up to five years. For Hans, his social support now comes mainly from his colleagues at Sana. They lend him a listening ear whenever he has something to get off his chest. He said: 'What I try to do now is focus on the positive aspects of my life because I don't want to go back to DRC again. 'Recovery is not a one- or two-year thing; it's (going to be) my whole life. So I want to focus on rejecting the idea of drugs, and hopefully I'll succeed eventually.'
Straits Times
20 hours ago
- Business
- Straits Times
Forum: Pay increase for lower-wage retail workers a welcome move
Sign up now: Get ST's newsletters delivered to your inbox I refer to the article ' Lower-wage retail workers to receive up to 6% pay bump from Sept 1 ' (Aug 11). As a former retail employee in a management role, I welcome the Progressive Wage Model recommendations for the sector. Amid rising costs of living, there are still some jobs, including those in retail, where wages have remained largely stagnant or seen little increment. While global e-commerce is popular, brick-and-mortar shops remain vital for many, including seniors, students, families, foreign workers and tourists. Physical outlets offer trust and assurance, letting us see, touch, and feel items before buying them. In emergencies or for late-night needs, there are 24-hour convenience stores and supermarkets within walking distance. Retail employees on the ground are important – providing assistance and stocking shelves. Employers should match their contributions with fair pay, proper support, and opportunities for training, better welfare, and balanced shifts. As customers, we could also brighten their day by just smiling, acknowledging their presence and thanking them when we make a purchase. Top stories Swipe. Select. Stay informed. Singapore NDR 2025: New govt-funded traineeship scheme for ITE, poly, university graduates Singapore NDR 2025: CDCs to spearhead new effort to match job seekers to roles nearer to home, says PM Wong Singapore NDR 2025: US baseline tariff of 10% on Singapore offers 'little comfort', says PM Wong Singapore NDR 2025: More avenues for S'poreans to be heard, get involved will be opened up, says PM Wong World European leaders to join Zelensky for Ukraine talks with Trump Sport Third time's the charm as Aaron Liang dethrones Samuel Kang en route to national squash title Asia Mandarin with Taiwanese characteristics: Taipei leverages language as soft power tool Asia 'Rats from the sky': Urban India finds itself divided on pigeons Muhammad Dzul Azhan Sahban
Straits Times
20 hours ago
- Business
- Straits Times
Trump, tech and Texas: What's next for the US?
Sign up now: Get ST's newsletters delivered to your inbox The weight of a new era is pressing in. The Trump presidency is unfolding against the backdrop of technological disruption, escalating political tensions and shifting demographics. Can the US adapt quickly enough? ST's US Bureau Chief Bhagyashree Garekar reports as America counts down to its 250th birthday in 2026. Protesters raise signs at the State Capitol in Austin on Aug 16 during the Fight the Trump Takeover. – Friends in Washington warned me that I was going to Texas at exactly the wrong time and season – that Austin was going to be uncomfortably hot and sticky. Being a transplant from Singapore, that scared me not at all. But they were right. Texas is hot all right. It is smack-dab in the middle of a political fight, instrumental in either keeping US President Donald Trump's hold on power or weakening it midway into his term in the 2026 congressional elections. The Lone Star state's economy also runs hot; it is the fire underneath the bubbling pot of the national economy. Record numbers of businesses flock here every year, contributing to its gross domestic product of more than US$2.6 trillion (S$3.3 trillion), making it a larger economy than Canada, South Korea or Australia. For 13 straight years, Texas has led the nation in job-creating projects. But while the numbers are impressive, they do not tell the whole story. Top stories Swipe. Select. Stay informed. Singapore NDR 2025: New govt-funded traineeship scheme for ITE, poly, university graduates Singapore NDR 2025: CDCs to spearhead new effort to match job seekers to roles nearer to home, says PM Wong Singapore NDR 2025: US baseline tariff of 10% on Singapore offers 'little comfort', says PM Wong Singapore NDR 2025: More avenues for S'poreans to be heard, get involved will be opened up, says PM Wong World European leaders to join Zelensky for Ukraine talks with Trump Sport Third time's the charm as Aaron Liang dethrones Samuel Kang en route to national squash title Asia Mandarin with Taiwanese characteristics: Taipei leverages language as soft power tool Asia 'Rats from the sky': Urban India finds itself divided on pigeons To grasp Texas, skip the stats and simply look around Austin. The state capital has an unsettled air, like the city itself is on the move, hurrying into a future hastily imagined. More than US$20 billion in new projects is reshaping its skyline, reinventing neighbourhoods, workspaces, shopping areas and parks. On the somewhat unkempt roads, it feels as though the future, too, is hurrying to find a foothold amid the ruins of the past. At a traffic junction, I saw a motorist honk at a Waymo robotaxi when it waited a beat too long after the traffic light turned green. The sight is a little unsettling: There is no one behind the wheel of the medium-sized car. The traffic is heavy. The driverless car moves forward in a smooth motion, with no jerks or starts, almost like a tracking shot in a movie. A head is visible from behind, a lone passenger in the back seat. More than 100 driverless taxis operate in Austin, thanks to a partnership between Google's Waymo and Uber in March 2025. Tesla's robotaxi service launched a pilot programme in June 2025, using Model Y cars. ST PHOTO: BHAGYASHREE GAREKAR It would not be the first time that a frontier spirit is shaping the next chapter of the American story. Redistricting the red wall Texas is Trump country, maybe even more than a Republican one. The state has voted red in every presidential election since 1980. But Mr Trump's 2024 victory was still special as it set the record for the most votes ever – more than six million – received by a presidential candidate in Texas. And now, as he exerts the power of his office to recast the US in his own image, Mr Trump is counting on a Texas 'wall' that will prevent the Democrats from stymieing his agenda. 'We're entitled to five more seats,' Mr Trump declared in early August, calling on Texan Republicans to redraw congressional district boundaries to build on the party's advantage in the US House of Representatives. The Republicans currently hold a slim majority of five seats in the House. A redistricting exercise can potentially add five more by improving the chances of flipping Democrat-held seats. Redistricting is done every decade to keep up with population shifts. Texas last refreshed district boundaries in 2021 and no law prevents a do-over. There is no mystery about the political urgency behind the push. It is designed to ensure that Mr Trump can spend his final two years in office with Congress at his back instead of in his way. The Democrats, who would then need a much larger national vote shift to win the House, are putting up quite a fight. The week after I arrived in Austin, state Democratic legislators fled to other states to deny the Texas government a quorum to hold the session to effect redistricting. Governor Greg Abbott asked them to 'come back and fight like Texans' and threatened to arrest or remove them from office if they did not return to the legislature. They are still away. The seriousness of the effort serves to underscore Mr Trump's sway in the state. But redistricting is by no means a foolproof endeavour. The infamous 'midterm effect' may just be too strong to be stopped by a few lines redrawn on the electoral map. It is almost a law in US politics that the party holding the presidency loses seats in midterm elections. The Democrats, however, are not well placed to take advantage of an anti-incumbency wave. The party is in disarray, leaderless and dispirited by the sweeping changes being pushed through by the White House. Still, the prospect of gains in the midterms may push them to campaign harder, knock on more doors and pump more flesh. It is also possible that the moment of crisis throws up a leader who can seize it. There is some hope, in progressive corners of the party, about a new Democratic star rising in the east. Mr Zohran Mamdani, a young politician with an easy manner and the ability to 'connect' with people, is the runaway favourite to win the New York City mayoral election set for Nov 4 and become its first Muslim mayor. The 33-year-old is being celebrated with the same fervour I saw in 2008 for the young Barack Obama in his presidential campaign. But Mr Mamdani will have to prove himself as mayor, and it would be unusual if a New York liberal emerged as the voice of Middle America. If nothing changes before 2026, the outcome of the midterms could come down to redistricting. Indeed, the Texas effort has set off a national scramble. California and at least six other states have said they will also look at redrawing congressional maps in a fight for the 'future of the republic'. In sum, Texas is at the heart of what is becoming a soul-searching on the national scale: How much is power worth, and what will you do to keep it? Mr Trump's answer seems to be: everything, and anything. For him, all roads to 2026 run through Texas. Testing ground It is easy to spot the poster child of the Texan economy from afar. The distinctive long, flat roof of Tesla chief executive Elon Musk's Gigafactory, its solar panels glinting in the sun, is unmissable from the window of a plane landing at Austin airport. It is what many Austinites point at, with pride, as a symbol of the state's tech cred and future-oriented economy. The factory reportedly employs around 20,000 – with the average annual wage standing at US$74,000 – and boosts local skill sets, start-ups and suppliers. Seen as a prime example of government and private industry partnership, it is a calling card for the successful Texas mix of the low-tax, low-regulation climate. Above all, it is proof that the US still makes things – that it still has a future in manufacturing. 'You've got to see it,' said my hairdresser, although she said it had made traffic worse in her area and added pointedly that she could not afford a Tesla even if she took on a second job. At the very least, the Texas experience suggests that tech might not remain a West Coast thing. California might still host tech's brain trust, but Texas is its muscle – building big and furious. The explosion of data centres makes that point. The state now ranks second, only behind Virginia, in erecting the physical infrastructure for artificial intelligence (AI). The mother of them all is Stargate, a US$500 billion project backed by OpenAI, Oracle and SoftBank. Coming up in Abilene, a three-hour drive from Austin, it is a strategic bet on US leadership in AI. It is also Texas claiming ownership of the 21st century's great tech frontier. More in your face – or at least in your lane – are the driverless taxis in Austin. With its permissive regulatory environment, the city is quickly becoming a testing ground for tomorrow's mobility. The pioneer Waymo, Alphabet's autonomous vehicle (AV) arm, operates more than 100 self-driving vehicles which can be ordered on the Uber app. Tesla's pilot robotaxi project, with a smaller fleet of Model Y cars, is about to go commercial in September. Amazon's Zoox and Volkswagen's van-like AVs also have a presence. While AI and AVs speak of the state's embrace of the future, oil still holds sway, funding politics, culture and the very sense of the state's self-reliance. The state has a reputation for friendliness towards people seeking a fresh start – nearly one in five residents is an immigrant. But there is also some wariness of outsiders who do not share the state's narratives. A leader in Mr Mamdani's mould will elicit a limited welcome here. Except perhaps in Austin, the famously liberal capital of a conservative state that proudly embraces its 'weirdness' and wants to remain the last holdout against the advancing tide of sameness. Texans cherish their distinct identity – think cowboy hats, boots and guitars, Tex-Mex spices and, yes, guns. They also sport a chip on their shoulder: When they joined the union in 1845, they were already the Republic of Texas. They feel more than equal, it is often said, unwilling to be overshadowed. For now, Mr Trump sees the state as the lock on the door to keep his agenda safe. For the rest of the country, it's a reminder that scale, pragmatism and the will to act are still the forces shaping the US story. And like with every good Texas story, there is a sense that the real ending has not been written yet.
Straits Times
20 hours ago
- Business
- Straits Times
N(T) students more likely to finish school, do as well in job market as N(A) peers: Study
Sign up now: Get ST's newsletters delivered to your inbox Mr Anders Tan, 40, who was from the Normal (Technical) stream, progressed through ITE, Nanyang Polytechnic and eventually Singapore Management University after his N levels. SINGAPORE - Students from the Normal (Technical) stream fared the same as their peers from the Normal (Academic) track in the labour market, with little difference in employment, earnings or wealth accumulation outcomes, a long-running cohort study has found. The joint study by a former Ministry of Trade and Industry (MTI) economist and an NUS academic also showed that N(T) students were more likely than N(A) students to complete secondary school and attain a post-secondary qualification. The study was published on May 22 as part of MTI's quarterly economic survey report. It tracked between 17,000 and 21,600 students who sat the PSLE from 1993 to 1997, the years when the N(A) and N(T) courses were first offered. Among other things, it looked at their annual income data for 2015, when they were between 30 and 34 years old. The findings challenge common perceptions about disparities between educational courses, and show that choosing a course based solely on perceived benefits might lead to adverse individual outcomes in some instances, said researchers. For the study, researchers compared the outcomes of students whose PSLE scores were just below the cut-off for the N(A) stream with those of students who scored above the threshold and therefore could choose between N(A) and N(T). For instance, researchers included in their study students who took their PSLE in 1993 and 1994 and scored below 149, thus qualifying for the N(T) stream, as well as students who scored between 150 and 159, who could choose between N(T) or N(A). The key assumption in this approach was that students in both groups had similar individual abilities. Top stories Swipe. Select. Stay informed. Singapore NDR 2025: New govt-funded traineeship scheme for ITE, poly, university graduates Singapore NDR 2025: CDCs to spearhead new effort to match job seekers to roles nearer to home, says PM Wong Singapore NDR 2025: US baseline tariff of 10% on Singapore offers 'little comfort', says PM Wong Singapore NDR 2025: More avenues for S'poreans to be heard, get involved will be opened up, says PM Wong World European leaders to join Zelensky for Ukraine talks with Trump Sport Third time's the charm as Aaron Liang dethrones Samuel Kang en route to national squash title Asia Mandarin with Taiwanese characteristics: Taipei leverages language as soft power tool Asia 'Rats from the sky': Urban India finds itself divided on pigeons The study, conducted by Dr Siddharth George, assistant professor of economics at the National University of Singapore (NUS), and Ms Afiqah Suhaiemi, former lead economist at MTI, controlled for other variables such as gender, race, household income and age at time of the PSLE exam. It found that students who just missed the N(A) cut-off and enrolled in N(T) were 3.2 percentage points more likely to complete secondary school. Given the baseline dropout rate of 7 per cent, this meant the N(T) course nearly halved the proportion of students that did not complete primary school – a significant achievement consistent with the course's policy goals, said researchers. These students were also 7.6 percentage points more likely to attain a post-secondary qualification, typically an ITE certificate or Higher Nitec, compared with students who chose the N(A) stream. N(T) students were as likely as their N(A) peers to earn a diploma, but they were 3.1 percentage points less likely to obtain a bachelor's degree from a publicly funded university. 'This suggests that while the N(T) course was effective in preventing adverse educational outcomes, it may have simultaneously reduced the likelihood of achieving the highest levels of academic qualification,' said Dr George. Overall, the N(T) track helped students reach a higher minimum level of education and reduced the risks of negative outcomes like dropping out or leaving school without any post-secondary qualification, the study found. Labour market outcomes studied included employment and earnings, as well as Central Provident Fund Special Account balances as a proxy for wealth accumulation. N(T) and N(A) students on average performed similarly, suggesting that either secondary school track had limited influence on longer-term labour market outcomes. 'N(T) students were less likely to have low earnings than N(A) students, perhaps reflecting the lower odds of dropping out, but also less likely to have very high earnings, perhaps reflecting the lower odds of acquiring a university degree,' said Dr George. Streaming, first introduced in 1981, grouped students into Normal, Express and Special courses, and was criticised by some for reinforcing stigma. In 1994, the Normal course was split into N(A) and N(T), the latter catering to students more inclined towards vocational subjects. The Ministry of Education (MOE) began replacing this system in 2020 with full subject-based banding (SBB), which was fully implemented in 2024 . Under SBB, students are placed in mixed form classes and take subjects at three levels – G1, G2 and G3 – based on their strengths. MOE said the study's findings – that it is more important for students to choose an academic programme or subject level suited to their strengths, interests and learning needs – support its full SBB policy. 'We believe that such an approach will enable our students to maximise their full potential by providing them with multiple pathways to success to achieve better educational and life outcomes,' said an MOE spokesman. NUS Associate Professor of Sociology and Anthropology Vincent Chua said the parity in outcomes can also be attributed to 'good matching' and 'front-loading' of skills. 'Students with strengths in hands-on, technical work are selected into courses that play to their strengths, keeping them engaged, helping them finish school, and setting them up for better outcomes afterwards,' he said. He added that the N(T) track equips students with practical skills and work experience early, making them competitive when they enter the job market. But stigma has not disappeared, with society still viewing technical workers through a biased lens because these workers lack academic qualifications, he noted. Additionally, academic pathways may also lead to broader alumni networks and access to exclusive leadership programmes, while some firms still use academic credentials to screen for promotion bands, even when skills are similar, added Prof Chua. Students who were from courses under the old streaming system told ST that, in hindsight, their stream mattered less than finding the best fit for them to learn and grow. For Mr Anil Raj, dropping into the N(A) stream from Express in 1999 was less about the loss of career prospects than finding his own rhythm. He knew completing his O levels was always part of the plan, and just a matter of when. Mr Anil Raj, pictured here with his mother, earned a diploma in engineering design with business from Republic Polytechnic in 2025. PHOTO: REPUBLIC POLYTECHNIC Mr Raj completed his O levels in 2003, before enrolling in polytechnic the following year. He dropped out in 2005, served national service, and began working in 2007. Over the next 12 years, he tried his hand at food and beverage, banking, sales and travel, gravitating towards roles in which he could work with his hands and see the results of his effort. '(This journey) really led me to discover my strengths and weaknesses, what I like doing and what really motivates and drives me,' said Mr Raj, now 40. He earned a diploma in engineering design with business from Republic Polytechnic in 2025, and is now preparing to start a bachelor's degree in mechanical engineering at the Singapore Institute of Technology. One of his counterparts from the N(T) stream, 40-year-old Anders Tan, took a different but equally circuitous path. After his N levels, he progressed through ITE, Nanyang Polytechnic and eventually Singapore Management University, where he graduated at 28 with a degree in information systems management. But he remembered what it felt like starting out. 'Back then... I thought that I would end up sweeping the floor (as a job). That was really the mentality,' he said, adding that it was unclear how his education journey would lead to a good career. Today, he is the founder of Inclus, a social enterprise that helps people with disabilities transition into the workforce. 'I'm two, three years later than my peers. To me, that's fine,' Mr Tan said. Both men said students should not feel pressured to rush their learning. 'If you need a longer time to learn, then let it be,' said Mr Tan. Mr Raj said: 'Comparison is the thief of joy. Know your own strengths and appreciate them.'
Straits Times
20 hours ago
- Business
- Straits Times
Singtel rises 3% on robust earnings; Keppel slides after Simba-M1 deal
Sign up now: Get ST's newsletters delivered to your inbox Singtel ended the week higher after an initial fall following the Aug 11 announcement of Simba's acquisition of M1's telco business. SINGAPORE - Telco consolidation made headlines last week, with StarHub fully acquiring MyRepublic Broadband and Keppel selling M1's telecoms operations. Keppel is divesting its 83.9 per cent stake in M1's telecoms business to Simba Telecom , a unit of Australia-listed company Tuas, in a $1.43 billion deal. Shares of the global asset manager and operator fell after the Aug 11 announcement, with some observers noting that it booked an accounting loss, or loss on paper, for the sale. The stock declined 1.52 per cent from last week's close to $8.45 on Aug 15. The estimated $222 million accounting loss for Keppel stems from goodwill and intangible assets tied to the telco business. Keppel first invested in M1 in 1994 and was later involved in its privatisation in 2019. At a media briefing, Keppel chief executive Loh Chin Hua said that the company has been making an effort to divest non-core assets. 'Our narrative is that we're going to create an asset-light 'New Keppel'. This particular business is no longer core to us. Being able to monetise it is probably the most important point,' he added. The other telco consolidation came on Aug 12, the day after the Keppel announcement. Top stories Swipe. Select. Stay informed. Singapore NDR 2025: New govt-funded traineeship scheme for ITE, poly, university graduates Singapore NDR 2025: CDCs to spearhead new effort to match job seekers to roles nearer to home, says PM Wong Singapore NDR 2025: US baseline tariff of 10% on Singapore offers 'little comfort', says PM Wong Singapore NDR 2025: More avenues for S'poreans to be heard, get involved will be opened up, says PM Wong World European leaders to join Zelensky for Ukraine talks with Trump Sport Third time's the charm as Aaron Liang dethrones Samuel Kang en route to national squash title Asia Mandarin with Taiwanese characteristics: Taipei leverages language as soft power tool Asia 'Rats from the sky': Urban India finds itself divided on pigeons StarHub, which already held a 50.1 per cent stake in MyRepublic Broadband, said it acquired the remaining 49.9 per cent share in a roughly $105 million deal, in a move aimed at strengthening StarHub's strategy in the broadband market. StarHub CEO Nikhil Eapen said: 'We're in a phase of consolidation, and we're not just watching it unfold, we're shaping it.' He added: 'As the market shifts, scale, quality and resilience matter more than ever. Smaller players may find it harder to sustain, especially without robust platforms.' Singapore telcos post mixed results Analysts noted that the industry consolidation could benefit Singapore's two listed telcos – StarHub and Singtel – by helping to ease intense price competition in an overcrowded market. For StarHub, the deal also comes amid weakening performance. Singapore's second-largest telco on Aug 14 posted a 41.7 per cent year-on-year fall in first-half earnings to $47.9 million. The lower profit was partly due to a one-off forfeiture payment of $14.1 million for the return of certain spectrum rights. Excluding this sum, net profit rose to $62 million, though this still works out to a 23 per cent drop year on year. Mr Eapen said the telco intends 'to remain aggressive across brands and segments in the domestic consumer market to position for eventual market recovery'. StarHub shares closed at $1.18 on Aug 15, down 3.28 per cent from last week's close. In contrast, Singtel ended the week higher after an initial fall following Keppel's Aug 11 announcement. Its stock rose 3 per cent from Aug 8 to close at $4.10 on Aug 15. The telco on Aug 13 announced that its underlying first-quarter net profit rose 13.9 per cent year on year to $686 million, driven by higher earnings from its Australian unit Optus and contributions from regional associates, including India's Bharti Airtel. Singtel CEO Yuen Kuan Moon expects the telecom operator's data centre business to be a 'bright spot' in the current financial year as its data centres in Singapore and Thailand near completion. Property stocks soar on robust earnings Shares of real estate-related companies mostly rose last week on robust earnings. Real estate services provider PropNex jumped more than 30 per cent in the past week to $2.03, while its peer Apac Realty was up 13 per cent from Aug 8 to close at 72 cents on Aug 15, driven by higher home sales. PropNex on Aug 12 posted record net profit of $42.3 million for its first half-year, a 122.4 per cent increase from the year before and surpassing analysts' estimates. Apac Realty's net profit more than doubled to $11.3 million in the same period, the company said on Aug 8. Analysts said that sales momentum could remain strong, supported by a pipeline of upcoming launches. Developer City Developments Limited (CDL) was up 6.3 per cent to $6.73 and UOL rose more than 3 per cent over the week to close at $7.27. CDL's first-half net income rose 3.9 per cent to $91.2 million, with revenue up 8 per cent to $1.69 billion, driven by the fully sold executive condominium project Copen Grand. A special interim dividend of three cents per share was proposed, up from the two cents it paid out a year earlier. CEO Sherman Kwek told a briefing on Aug 13 that CDL will try to pay one-third of its net income as dividends every year and reward shareholders when divestments are made. Meanwhile, Pan Pacific and Parkroyal owner UOL's first-half net profit increased 58 per cent to $205.5 million due to strong performance from property development and property investments, and other gains from the disposal of Parkroyal Yangon, the firm said on Aug 13. CapitaLand Investment (CLI) shares fell 2.5 per cent from Aug 8, closing at $2.70 on Aug 15, on the back of weaker earnings. First-half earnings dropped 13 per cent , attributed to loss of contributions from divested assets, lower fund performance and transaction fees, and absence of a one-off tax write-back. CLI also attributed part of its performance to the downturn in China, where it has 18 retail and commercial properties. Group CEO Lee Chee Koon urged investors to be patient with the firm's investment returns, hinting at an improved performance in the second half of 2025 when SC Capital and Wingate are expected to deliver stronger returns. Dezign Format makes SGX debut Spatial design specialist Dezign Format surged 40 per cent in its trading debut on the Singapore Exchange's Catalist board on Aug 15, closing at 28 cents from its initial public offering (IPO) price of 20 cents. Dezign Format CEO Mike Chong said that the proceeds from the IPO will support the firm's regional expansion strategy, which includes establishing a Malaysian production facility and sales offices in Thailand and Vietnam. The company joins other firms, such as NTT DC Real Estate Investment Trust and Lum Chang Creations, to be listed on Singapore's stock exchange in 2025 amid a revival in IPOs. Another local firm, semiconductor optics company MetaOptics, is expected to list on the local bourse after it filed its prospectus on July 30 to list on the Catalist board. The group said it intends to use the IPO proceeds for areas such as product development, research and development, and strategic partnerships. Other market movers Shares of CNMC Goldmine surged more than 18 per cent over last week to close at a record 64.5 cents. The gold mining company posted strong earnings of US$15.8 million (S$20.3 million) for the first half, up 256.1 per cent year on year, driven by higher production and surging gold prices. Investment manager Yangzijiang Financial was up 9.3 per cent to $1.06, as first-half net profit increased 28 per cent to $137.7 million. This was largely attributed to the reversal of credit loss allowances, increased contributions from maritime joint ventures and net foreign exchange gains. What to look out for this week On Aug 18, Singapore will release its non-oil domestic exports data for July. DBS chief economist Taimur Baig forecasts a 6 per cent year-on-year contraction, marking a reversal from June's growth as an earlier boost from the front-loading of orders ahead of US tariff hikes tapers off. Sats is scheduled to release its business update for the first quarter ended June 30 on Aug 20, after the market closes.
