Market Journal
Brief Overview HRnetGroup reported 1H26 results with revenue meeting expectations at 48% of the FY26e forecast, though adjusted PATMI came in below at 44%. Adjusted PATMI declined 18% year-on-year due to lumpy government grants in the prior year, while operating profit rose 9% YoY to S$20.1 million. Interim dividend increased 10% to 2.20 cents with…Read More
Brief Overview In July 2026, the Magnificent 7 (Mag-7) stocks rebounded 4.5 per cent from the previous month’s 8.5 per cent decline, outperforming both the S&P 500 (-0.1%) and NASDAQ (-6.6%). The rebound was driven by cloud service providers (CSPs) — Microsoft, Amazon and Alphabet — which posted a record combined 2Q26 cloud operating margin…Read More
The rapid surge in artificial intelligence (AI), generative models, cloud computing, and autonomous systems has propelled semiconductors from a niche cyclical sector into the primary engine of the global technology megatrend. From graphic processing units (GPUs) and high-bandwidth memory (HBM) to advanced lithography equipment, chipmakers form the foundational hardware layer of modern innovation. For investors…Read More
Brief Overview Ever Glory United Holdings delivered strong 1H26 results, with revenue and adjusted profit after tax and minority interest (PATMI) exceeding expectations at 84% and 94% of full-year forecasts respectively. The company’s order book surged 220% year-on-year to more than S$1bn following the securing of over S$400mn in new contracts during 2026. Phillip Securities…Read More
Brief Overview The Singapore REITs sector delivered a solid performance in July with the S-REITs Index gaining 3%, building on June’s 0.4% increase. Results for 1H26 showed impressive strength, with S-REITs under coverage achieving approximately 6% average distribution per unit (DPU) growth year-on-year, excluding Prime US REIT’s exceptional 316% growth. Phillip Securities Research maintains an…Read More
Brief Overview Phillip Securities Research has announced it will cease coverage of 17LIVE Group Limited following its latest results review. The company reported a 19.4% year-on-year revenue decline to US$65.4 million in 1H26, driven by falling active users and flat average revenue per user growth. Despite revenue challenges, the net loss narrowed significantly from US$4.6…Read More
Brief Overview BRC Asia provided a 3Q26 update with limited financials, showing results within expectations. The company delivered 9M26 revenue and PATMI at 70% and 72% of full-year forecasts respectively. Notable developments included PATMI acceleration of 25% year-on-year to S$27.3 million, whilst revenue growth decelerated to 4.8% due to Changi T5 project timing issues. The…Read More
Brief Overview ComfortDelGro Corp Ltd delivered underwhelming first-half results, with 1H26 revenue and PATMI reaching only 46% and 44% of full-year expectations respectively. The company’s taxi operations remain severely challenged across multiple markets, whilst the UK bus business provided some relief through contract repricing. Management maintained the interim dividend at 3.91 cents despite the earnings…Read More
Brief Overview Hyphens Pharma International reported 1H26 results that met expectations, with revenue and adjusted profit after tax and minority interests (adj.PATMI) reaching 48% and 42% of full-year forecasts respectively. Revenue remained largely flat at S$89.1mn, whilst adj.PATMI declined 11% year-on-year due to increased distribution costs. The company is strategically building its product portfolio breadth…Read More
Brief Overview SATS Ltd reported strong first-quarter results with revenue and PATMI rising 11.3% and 5.9% year-on-year to S$1,676.3 million and S$75.1 million respectively, representing 28% and 25% of full-year forecasts. Cargo volumes increased 8.6% year-on-year driven by Americas demand, whilst food solutions revenue grew 5.4% supported by non-aviation expansion. Food solutions margins improved significantly…Read More

