The Straits Times Index (SGX: ^STI) did not have much of a reaction today despite the share market reaching new highs in the US last week as it inched up by only 0.10% to 3293. Despite the tepid movement of the STI, there were some nice gainers among its components.
Singapore Press Holdings Limited (SGX: T39) moved up 3.36% to close at $4.31. The share price of the company jumped as investors got excited after an announcement today that it is exploring the establishment of a REIT. Details of the REIT’s eventual property portfolio are still under review by the company. SPH owns newspapers, magazines and radio stations in addition to developing and managing both commercial and retail properties. Earlier in January 2013, the company released its first quarter results which saw a 6.6% drop in quarterly profit to S$91.1m from S$97.5m.
Elsewhere, land-transport company ComfortDelgro Corporation’s (SGX: C52) shares increased by 1.06% to $1.90 today. The company’s full year turnover for 2012 grew by 3.9% and was a record at S$3.55b. Full year profit also increased by 5.6% to S$248.9m. ComfortDelgro’s operations span 7 countries in 3 continents, including Singapore and China in Asia, Australia in the southern hemisphere, and United Kingdom in Europe. ComfortDelgro also owns 67.65% of vehicle and commercial testing company Vicom Limited (SGX: V01).
Sing Tel (SGX: Z74) gained 1.16% today to close at $3.49. Last week saw Sing Tel embroiled in a tussle with fellow telecommunications provider Starhub (SGX: CC3) over lucrative broadcast rights for English Premier League football matches. In less confrontational news, Sing Tel saw an 8.3% decline in quarterly net profit in its third quarter results even though its mobile customers increased by 9% to 473m.
Click here now for your FREE subscription to Take Stock Singapore, The Motley Fool’s free investing newsletter. Written by David Kuo, Take Stock Singapore tells you exactly what’s happening in today’s markets, and shows how you can GROW your wealth in the years ahead.
The Motley Fool’s purpose is to help the world invest, better. The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Contributor Chong Ser Jing doesn’t own shares in any companies mentioned.