The Singapore Market This Week

The local stock market, which is represented by the Straits Times Index (SGX: ^STI), saw a small loss of 0.3% to close at 2,879.6 points on Friday.

Out of the 30 index stocks, 13 were in the green, three were flat, while 14 were in the red. Noble Group Limited  (SGX:N21) was one of the biggest losers in the index. It slumped 3.9% to end the week at S$0.49.

At the other end, the biggest winner in the index was SIA Engineering Company Ltd (SGX: S59). Shares in the aircraft engineering firm rose 4.8% to S$3.74 for the week. Its shares have been dropping for some time, due to poor business showing. For a quick analysis on the firm, you can jump into here.

In its first quarter ended 30 June 2015, SIA Engineering saw a revenue fall of 5.7% year-on-year to S$294.1 million, due to a slump in its airframe component and overhaul business. Its net profit, however, declined much more at 22.8% from a year ago to S$41.3 million.

Early August this year, the firm announced that it had sold off 794,118 shares in its joint venture, Safran Electronics Asia Pte Ltd, to its joint venture partner, Sagem, which is part of the Safran Group, listed in Europe. After completion of the sale, SIA Engineering and Sagem now hold 40% and 60% of the shares in Safran Electronics Asia respectively.

The sale price will be at US$3.6 million while the net tangible asset value of the sales shares is US$2 million (based on Safran Electronic Asia’s audited financial statements for the financial year ended 31 December 2014).

Another gainer in the STI was Ascendas Real Estate Investment Trust (SGX: A17U). It announced this week that it “will be acquiring 26 logistics properties in Australia for a total sum of A$1.013 billion”. The properties are all freehold and they have a healthy occupancy rate of 94.4%. Shares in the REIT went up 1.4% to S$2.23.

The SPDR STI ETF (SGX:ES3), a proxy for the Straits Times Index, is now trading at 11.5 times its trailing earnings and has a dividend yield 3.3%.

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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.