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Business Times
23-05-2025
- Business
- Business Times
Yangzijiang Shipbuilding down 6.1% amid steep fall in Q1 order wins
[SINGAPORE] Shares of Chinese vesselmaker Yangzijiang Shibuilding fell on Friday (May 23) as its Q1 order wins plunged to US$300 million from US$3.3 billion in the year-ago period. After the midday trading break at 1.05 pm, the counter fell to S$2.01, down by 6.1 per cent or S$0.13 from its Thursday closing price of S$2.14, with some 28 million shares changing hands. This is the lowest price the counter has hit in May, ShareInvestor data shows. It remained at S$2.03 as at 3.09 pm, with around 36.2 million shares having been transacted. The marine vessel manufacturer on Thursday reported that its order wins for the first quarter of 2025 amounted to six vessels – around 5 per cent of its US$6 billion target for FY2025. This was a steep drop from its order wins for the corresponding year-ago period, when it bagged orders for 38 vessels – nearly three-quarters (74 per cent) of its target for that fiscal year. Yangzijiang Shipbuilding has been caught in the crossfire of US-China tensions this year. Shares of the counter have been battered ever since the US Trade Representative (USTR) office in February proposed fees of up to US$1.5 million for Chinese-built vessels entering US ports, sparking a massive sell-off that wiped close to a billion dollars off its value. The counter closed at S$3.22 on Feb 21 before the USTR's proposal.
Business Times
23-05-2025
- Business
- Business Times
Yangzijiang Shipbuilding down 5.1% amid steep fall in Q1 order wins
[SINGAPORE] Shares of Chinese vesselmaker Yangzijiang Shibuilding fell on Friday (May 23) as its Q1 order wins plunged to US$300 million, a marked fall from US$3.3 billion in the year-ago period. As at 11.23am, the counter fell to S$2.03, down by 5.1 per cent or S$0.11 from its Thursday closing price of S$2.14, with 21.8 million shares changing hands. This is the lowest price the counter has hit in May, ShareInvestor data shows. It remained at S$2.03 as at the midday trading break, with some 25 million shares having been transacted. The marine vessel manufacturer on Thursday reported that its order wins for the first quarter of 2025 amounted to six vessels – around 5 per cent of its US$6 billion target for FY2025. This was a steep drop from its order wins for the corresponding year-ago period, when it bagged orders for 38 vessels – nearly three-quarters (74 per cent) of its target for that fiscal year.
Business Times
23-05-2025
- Business
- Business Times
Singtel jumps 3.6% on S$0.10 per share dividend, S$2 billion share buyback plan
[SINGAPORE] Shares of Singtel rose on Thursday (May 22) morning after the telco giant announced a final dividend of S$0.10 per share and initiated its first share buyback programme of up to S$2 billion. As at 11.21 am, the counter climbed to S$3.99, 3.6 per cent or S$0.14 higher than its Wednesday closing price of S$3.85, with 30.1 million shares changing hands, ShareInvestor data showed. This is the highest price Singtel shares have risen to in more than five years – the last time this happened was in 2017. By 1.24 pm, the counter had eased back down to S$3.96, still up by 2.9 per cent or S$0.11, with 35.3 million shares transacted. On Thursday, Singtel returned to the black with S$2.8 billion net profit for its second half ended March. The telco proposed a final dividend of S$0.10 per share. It also disclosed plans to repurchase S$2 billion worth of shares in the open market as part of its capital management strategy; this maiden share buyback programme will be executed over three years, until FY2028. Repurchased shares will be cancelled, and funding for the programme will be underpinned by excess capital from Singtel's asset-recycling proceeds. Under its Singtel28 growth plan, the company is raising to S$9 billion its mid-term asset-recycling target that it set at S$6 billion in May 2024.
