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Business Times
14-07-2025
- Business
- Business Times
Stocks to watch: OCBC, SGX, Centurion, Sats, Frasers Property, Frasers Hospitality Trust
[SINGAPORE] THE following companies saw new developments that may affect trading of their securities on Monday (Jul 14): OCBC : The lender on Friday announced the retirement of its incumbent chief executive officer Helen Wong, who will step down on Dec 31, 2025, for family reasons. The current head of global wholesale banking Tan Teck Long, who will succeed Wong on Jan 1, 2026. Tan will immediately assume the additional role of deputy CEO. Wong will remain chairman of OCBC China and director of OCBC Hong Kong after stepping away from the helm. Shares of OCBC closed 0.9 per cent or S$0.15 higher at S$16.89 on Friday, before the announcement. Singapore Exchange (SGX) : The manager of NTT DC Reit (real estate investment trust) said the public tranche of its Singapore initial public offer was about 9.8 times oversubscribed. Based on the 30 million units available to the public for subscription, there were 14,166 valid applications for an aggregate of 294.8 million units. Shares of SGX ended on Friday 1 per cent or S$0.16 lower at S$15.46. Sats : Its CEO Kerry Mok was paid more than S$3.1 million in total remuneration for FY2025 ended March, a 30.5 per cent pay raise from the S$2.4 million in FY2024. Mok received S$1 million in salary, S$1.2 million in bonuses, around S$862,500 worth of Sats shares and S$74,000 in benefits. This comes as the group's earnings for FY2025 soared more than four times to S$243.8 million from the year-ago period. Sats shares closed 0.3 per cent or S$0.01 lower at S$3.12 on Friday. Frasers Property , Frasers Hospitality Trust (FHT) : The manager said on Friday that it received in-principle approval from the Singapore Exchange Securities Trading Limited (SGX-ST) to delist and remove FHT from the official list of SGX-ST. The scheme by FHT's sponsor Frasers Property to privatise the stapled group at S$0.71 per stapled security will require approval from stapled securityholders of FHT, the manager added. Shares of Frasers Property ended on Friday unchanged at S$0.89. Stapled securities of FHT ended on Friday flat at S$0.70. Aims Apac Rei t: Aims Financial Group raised its stake in Aims Apac Reit to nearly 18.7 per cent, after acquiring an additional 7 per cent stake of over 57 million units in the trust, its manager said on Monday. The units were acquired from substantial unitholder, ESR HK Management, which is part of ESR Group. Units in Aims Apac Reit ended on Friday 0.8 per cent or S$0.01 higher at S$1.33, before the news. Creative Technology : The group warned that revenue for its second half ended June would likely be below its target, at US$30 million. This comes as its topline was 'negatively impacted' by macroeconomic uncertainty and weakening consumer sentiment due to tariffs and trade tensions, which have adversely hit the business environment for many of its products, the group said on Friday. Creative's shares rose S$0.005, or 0.6 per cent to close at S$0.83 on Friday. Trading halt: Property management company Centurion Corp requested a trading halt on Monday morning, pending the release of an announcement. Its shares closed flat on Friday at S$1.76.
Business Times
14-07-2025
- Business
- Business Times
Stocks to watch: OCBC, SGX, Sats, Frasers Property, Frasers Hospitality Trust
[SINGAPORE] THE following companies saw new developments that may affect trading of their securities on Monday (Jul 14): OCBC : The lender on Friday announced the retirement of its incumbent chief executive officer Helen Wong, who will step down on Dec 31, 2025, for family reasons. The current head of global wholesale banking Tan Teck Long, who will succeed Wong on Jan 1, 2026. Tan will immediately assume the additional role of deputy CEO. Wong will remain chairman of OCBC China and director of OCBC Hong Kong after stepping away from the helm. Shares of OCBC closed 0.9 per cent or S$0.15 higher at S$16.89 on Friday, before the announcement. Singapore Exchange (SGX) : The manager of NTT DC Reit (real estate investment trust) said the public tranche of its Singapore initial public offer was about 9.8 times oversubscribed. Based on the 30 million units available to the public for subscription, there were 14,166 valid applications for an aggregate of 294.8 million units. Shares of SGX ended on Friday 1 per cent or S$0.16 lower at S$15.46. Sats : Its CEO Kerry Mok was paid more than S$3.1 million in total remuneration for FY2025 ended March, a 30.5 per cent pay raise from the S$2.4 million in FY2024. Mok received S$1 million in salary, S$1.2 million in bonuses, around S$862,500 worth of Sats shares and S$74,000 in benefits. This comes as the group's earnings for FY2025 soared more than four times to S$243.8 million from the year-ago period. Sats shares closed 0.3 per cent or S$0.01 lower at S$3.12 on Friday. Frasers Property , Frasers Hospitality Trust (FHT) : The manager said on Friday that it received in-principle approval from the Singapore Exchange Securities Trading Limited (SGX-ST) to delist and remove FHT from the official list of SGX-ST. The scheme by FHT's sponsor Frasers Property to privatise the stapled group at S$0.71 per stapled security will require approval from stapled securityholders of FHT, the manager added. Shares of Frasers Property ended on Friday unchanged at S$0.89. Stapled securities of FHT ended on Friday flat at S$0.70. Aims Apac Rei t: Aims Financial Group raised its stake in Aims Apac Reit to nearly 18.7 per cent, after acquiring an additional 7 per cent stake of over 57 million units in the trust, its manager said on Monday. The units were acquired from substantial unitholder, ESR HK Management, which is part of ESR Group. Units in Aims Apac Reit ended on Friday 0.8 per cent or S$0.01 higher at S$1.33, before the news. Creative Technology : The group warned that revenue for its second half ended June would likely be below its target, at US$30 million. This comes as its topline was 'negatively impacted' by macroeconomic uncertainty and weakening consumer sentiment due to tariffs and trade tensions, which have adversely hit the business environment for many of its products, the group said on Friday. Creative's shares rose S$0.005, or 0.6 per cent to close at S$0.83 on Friday.
Business Times
11-07-2025
- Business
- Business Times
Sats CEO Kerry Mok sees pay hike of 30.5% to S$3.1 million
[SINGAPORE] Kerry Mok, chief executive officer of inflight caterer and ground-handling company Sats , earned over S$3.1 million in total remuneration in FY2025 ended March, up 30.5 per cent from S$2.4 million in FY2024. The 54-year-old was rewarded with about S$1 million in salary or 32 per cent of his total remuneration, S$1.2 million in bonuses, and about S$862,500 worth of Sats shares and S$74,000 in benefits in FY2025, indicated Sats' annual report. His FY2024 total compensation was made up of about S$916,400 in salary or 38 per cent of the total remuneration, S$896,700 in bonuses, S$537,700 worth of shares and benefits stayed at around S$74,000. During FY2025, the group made several key adjustments to align the remuneration framework with its future business priorities and transformational goals after a review. It suspended the group's Economic Value Added-based Incentive Plan for senior management from April 2024, but granted a one-off transformation long-term incentives award to group management board (GMB) members. This award, the group said, is designed to support its transformation agenda, enhance alignment with long-term shareholder value creation, and retain and motivate the GMB over a five-year performance period. 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 There are 11 GMB members including the CEO. Sats reported S$243.8 million in earnings for FY2025, soaring more than four times from S$56.4 million from the year-ago period. Turnover was S$5.8 billion, 13 per cent higher year on year. It is rewarding shareholders a final dividend of S$0.035 per share if the proposed payout is approved at the annual general meeting. Sats also reported customer privacy breaches and customer data losses in the annual report. There were two complaints received from outside parties regarding data incidents impacting Sats suppliers, and one incident arising from an internal unauthorised access by Sats employees. Sats shares dipped S$0.02 or 0.6 per cent to S$3.11 at 4.50 pm on Friday (Jul 11).
Business Times
11-07-2025
- Business
- Business Times
Sats CEO Kerry Mok earns S$3.1 million in remuneration in FY2025, increase of over 30%
[SINGAPORE] Kerry Mok, chief executive officer (CEO) of inflight caterer and ground-handling company Sats , earned over S$3.1 million in total remuneration in FY2025 ended March, up 30.5 per cent from S$2.4 million in FY2024. The 54-year-old was rewarded with about S$1 million in salary or 32 per cent of his total remuneration, S$1.2 million in bonuses, S$862,500 worth of Sats shares and S$74,000 in benefits in FY2025, indicated Sats' annual report. His FY2024 total compensation was made up of about S$916,400 in salary or 38 per cent of the total remuneration, S$896,700 in bonuses, S$537,700 worth of shares and benefits stayed at around S$74,000. During FY2025, the group made several key adjustments to align the remuneration framework with its future business priorities and transformational goals after a review. It suspended the group's Economic Value Added-based Incentive Plan for senior management from April 2024, but granted a one-off transformation long-term incentives award to Group Management Board (GMB) members. This award, the group said, is designed to support its transformation agenda, enhance alignment with long-term shareholder value creation, and retain and motivate the GMB over a five-year performance period. 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 There are 11 GMB members including the CEO. Sats reported S$243.8 million in earnings for FY2025, soaring more than four times from S$56.4 million from the year-ago period. Turnover was S$5.8 billion, 13 per cent higher year on year. It is rewarding shareholders a final dividend of S$0.035 per share if the proposed payout is approved at the annual general meeting. Sats also reported customer privacy breaches and customer data losses in the annual report. There were two complaints received from outside parties regarding data incidents impacting Sats suppliers, and one incident arising from an internal unauthorised access by Sats employees. Sats shares dipped S$0.02 or 0.6 per cent to S$3.11 at 4.50 pm on Friday (Jul 11).
Straits Times
10-07-2025
- Business
- Straits Times
STI up 0.4% on July 10 as investors stay positive despite tariff uncertainty, split Fed views
Sign up now: Get ST's newsletters delivered to your inbox SINGAPORE – Never mind inflation risks and the ongoing tariff threat, buoyant investors here have driven the local market higher yet again – its fourth straight day of gains. The blue-chip Straits Times Index (STI) closed 0.4 per cent or 17.88 points up at 4,075.70 on July 10 with gainers streaking ahead of losers 324 to 175 on trade of 1.6 billion securities worth $1.2 billion. Ground handler Sats was the STI's top gainer, up 1.6 per cent to $3.13 after it released its annual report, while DFI Retail Group was at the bottom of the list, down 1 per cent to US$2.91. The local bourse largely reflected the state of play on Wall Street overnight, where investors shrugged off President Donald Trump's 50 per cent tariff on Brazilian goods, the highest announced this week, and a flurry of other levies. The Nasdaq was the standout, climbing 0.9 per cent to a record high on the back of a surge in Nvidia shares that valued the tech firm at more than US$4 trillion. The S&P 500 added 0.6 per cent and is now within touching distance of the record high it hit last week, while the Dow Industrials rose 0.5 per cent. Regional stocks closed mixed. Hong Kong's Hang Seng was up 0.6 per cent, the ASX 200 in Australia closed 0.6 per cent higher and Malaysian shares advanced 0.5 per cent, but Japan's Nikkei 225 fell 0.4 per cent. Investors here and across the region are still awaiting firmer signals from the US. Minutes from the Federal Reserve's June meeting showed an emerging divide among officials over monetary policy, given the uncertainty around tariffs. UOB researchers noted that the recent tariff re-escalation will underpin this uncertainty and lead the Fed to maintain its wait-and-see approach on interest rates. But they added that the risks to growth mean 'we continue to hold our view of three 25-basis point rate cuts in 2025 … and two in 2026'. THE BUSINESS TIMES
