The Singapore Market This Week: Thai Beverage Was The Lone Survivor

For the week, the local market, as represented by the Straits Times Index (SGX: ^STI), lost 2.8% to finish at 2,926 points.

Out of the 30 index components, almost all, except one – Thai Beverage Public Company Limited (SGX: Y92) – finished in the red. Thai Beverage was the only firm that survived the market rout, as it ended the week flat at S$0.68.

The beer maker posted quarterly revenue growth of 4.1% year-on-year. It also said that its net profit ballooned 34.4%, mostly due to one-off gains. Stripping away the one-off gains, Thai Beverage would have still enjoyed an 11% uptick in profit.

Noble Group Limited (SGX: N21) was the biggest loser in the index once again, slumping 15.2% to S$0.445.

On 12 November, the commodity firm released its three-months earnings results. As noted by Ser Jing, the numbers didn’t look too good, as sales dropped 20% year-on-year to US$18.7 billion while net profit plunged 84% to US$24.7 billion.

Yusuf Alireza, Noble’s Chief, was quite upbeat (unsurprisingly), saying, “There are many aspects of these results that we can take encouragement from. Our cash flow generation, the record performance of our energy complex and our record volume growth are all strong indicators that our diverse, asset light supply chain model, is the right one for us.”

Other STI components that released its quarterly results include:

The SPDR STI ETF (SGX:ES3), which is a proxy for the Straits Times Index, is now trading at 12 times its trailing earnings and yields 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.