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Hutchison Port Hldg Trust Leads Singapore’s Market Lower This Week

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Singapore’s share market benchmark, the Straits Times Index (SGX: ^STI), wasn’t too keen to celebrate National Day as it slumped close to 2% for the week, ending Friday at 3,289 points.

Most of the 30 components of the index suffered losses in the week as well, with Hutchison Port Hldg Trust (SGX: NS8U) leading the way with a 5.59% decline to US$0.675. Just four out of the 30 index constituents ended the week with gains; Thai Beverage Public Company Limited (SGX: Y92) was the biggest winner in the index as it added 4.1% to end the week at S$0.64.

Hutchison Port Hldg Trust reported on 25July that its second quarter revenue grew 1% to HK$3.06 billion but its net profit had plunged 12.4% to HK$368.4 million on the back of increased staff costs and taxes.

Meanwhile, Thai Beverage Public Company Limited will be releasing its second quarter results on 14 August 2014 after the market closes. The firm has scheduled a conference call at 6pm on 15 August to discuss its financial results. All are welcome to listen to the results conference “live” via ThaiBev’s Investor Relations website.

Outside the STI, Sakae Holdings Ltd (SGX: 5DO) grew from S$0.555 last week to S$0.58 on Friday, a rise of 4.5%. It announced its half-year earnings yesterday. Revenue came down slightly by 0.3% to S$51.5 million but net profit fell by 19.2% to S$2.5 million due to higher administrative costs. The firm said it is continuing to work hard to mitigate rising rental, food, and staff costs.

OSIM International Ltd. (SGX: O23) lost 4.6% to S$2.72 despite releasing last week a robust set of figures for its second quarter earnings. Net profit grew 13% to S$30 million on the back of a 10% revenue gain due to higher consumer demand for its products.

The STI is currently trading at 13.7 times its historical earnings.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.