Stocks to watch: Singapore Airlines, CapitaLand Ascott Trust, ESR-Reit, First Sponsor, iFast, Stoneweg Europe Stapled Trust

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Jul 29):

Singapore Airlines: The company reported a 58.8 per cent drop in Q1 FY2026 net profit to S$186 million on Monday, even as revenue rose 1.5 per cent to S$4.8 billion. The drop in net profit was mainly driven by lower interest income and share of losses of associates, said the airline. Meanwhile, the rise in revenue was driven by stronger demand across SIA and Scoot. The airline said it was facing challenges from geopolitical tensions, macroeconomic fluctuations, and changing market dynamics. Tariffs were also set to continue to affect the cargo network of the airline. The counter closed up 0.4 per cent or S$0.03 at S$7.60 on Monday.

CapitaLand Ascott Trust: The manager on Tuesday posted a 1 per cent drop in distribution per stapled security to S$0.0253 for its first half ended Jun 30, from S$0.0255 in the previous corresponding period. Revenue for the first half inched up 3 per cent to S$398.5 million from S$386.4 million in the year-ago period, as gross profit rose 6 per cent, to S$182.5 million from S$172.9 million. Stapled securities of CapitaLand Ascott Trust ended on Monday 0.5 per cent or S$0.005 lower at S$0.905.

Keppel Infrastructure Trust (KIT): The trust swung back into the black with a net profit of around S$60 million for its first half ended Jun 30, compared with a net loss of S$23.9 million in the prior corresponding period, the manager said on Tuesday. Revenue rose 11.5 per cent to around S$1.1 billion from around S$1 billion in the year-ago period. Units of KIT finished Monday 1.1 per cent or S$0.005 higher at S$0.445.

iFast: Shares in iFast surged 11.3 per cent on Monday after the digital banking firm reported strong Q2 net profit. It hit an intraday peak of S$8.26 – 11.3 per cent higher than its last close of S$7.42 – at 4.30 pm, with a trading volume of 7.1 million shares. The company also announced plans to target higher dividend payout ratio at a briefing on Monday. The counter ended the day at S$8.17, up 10.1 per cent, with 7.5 million shares transacted.

ESR-Reit: It posted a 0.2 per cent rise in distribution per unit to S$0.11239 for the first half ended Jun 30, from S$0.1122 in the corresponding year-ago period. The distribution will be paid out on Sep 12, after the record date of Aug 6. Net property income rose by 30.1 per cent to S$166.3 million from S$127.8 million in H1 FY2024, while revenue for the half-year period increased 23.2 per cent to S$222.9 million from S$180.9 million. Units of ESR-Reit closed on Monday 1.9 per cent or S$0.05 higher at S$2.64.

First Sponsor: The property developer reported on Monday a 59.2 per cent jump in H1 2025 earnings, up to S$19 million, mainly driven by a higher share of profits from associates and joint ventures. However, its revenue dropped 11 per cent to S$153.9 million in the first half of the financial year compared to the same period in 2024. The revenue dip was largely attributed to a fall in revenue from the sale of development properties, property financing and hotel operations, though mitigated by an increase in rental income from investment properties. The company’s shares closed flat at S$1.05 on Monday.

Stoneweg Europe Stapled Trust: The trustee-manager of Stoneweg European Business Trust – a part of Stoneweg Europe Stapled Trust (Sert) – announced on Tuesday that it will be selling Arkonska Business Park for a consideration of 7.8 million euros (S$11.6 million). The asset is a two-building office complex located in Gdansk, Poland, with a total lettable area of 11,710 square metres. The transaction also lowers Sert’s exposure to Poland to 6.7 per cent from 7 per cent previously and increases the logistics or light industrial exposure of Sert to 56.1 per cent from 55.9 per cent. The counter closed on Monday 1.9 per cent or 0.03 euros higher at 1.59 euros, before the news.

Keppel Pacific Oak US Reit: The office Reit posted a drop in H1 FY2025 distributable income on Tuesday, down 16.2 per cent to US$19.9 million from US$23.8 million across the same period last year. It also stated that it had a positive 0.5 per cent rental reversion for H1 and a positive 3.3 per cent rental reversion for Q2 2025. No distribution was declared. The manager had announced previously it would suspend distributions for two years from H2 FY2023 to H2 FY2025. The counter closed on Monday 2.2 per cent or US$0.005 higher at US$0.23.