SG Morning Highlights: SIA still in the red for FY2022, but narrows loss to S$962m

Market Trend

Singapore shares opened lower on Thursday. The $富時新加坡海峽指數(.STI.SG)$ decreased 1.39 per cent to 3,180.55 as at 9:00 am.

Advancers / Decliners is 13 to 146, with 69.83 million securities worth S$77.76 million changing hands.

Breaking News
SIA still in the red for FY2022, but narrows loss to S$962m

$SIA (C6L.SG)$ clocked its third annual loss, posting a deficit of S$962 million for the financial year 2022 to March, even as it disclosed that its forward sales for the next 3 months are approaching pre-pandemic levels.

On Tuesday evening, the group released operating results which showed a month-on-month improvement in passenger capacity and passenger load factor in April.

SIA and its low-cost airline Scoot had carried a total of 1.5 million passengers in April, up 62.7 per cent from March 2022. The passenger load factor for the month stood at 72.7 per cent, the highest since the onset of the pandemic.

Stocks to Watch

$First Reit (AW9U.SG)$ : First Reit will divest Siloam Hospitals Surabaya at an agreed property value of 430 billion rupiah (S$40.9 million), subject to post-completion adjustments.

The Reit acquired Siloam Hospitals Surabaya in 2006 for S$16.8 million as part of its initial portfolio. Completed in 1977, the development comprises 5 integrated purpose-built hospital buildings ranging from 2 to 5 storeys, the Reit manager said in a bourse filing.

$Delfi (P34.SG)$ : Chocolate confectionary company Delfi posted an earnings before interest, taxes, depreciation and amortisation (Ebita) of US$20.5 million in Q1, up 13.9 per cent from the corresponding period last year.

Delfi said in a business update late on Wednesday (May 18) that the growth came from higher sales and continued tight control of operating costs for the period.

$IPC Corp - watch list (AZA.SG)$ : Property company IPC Corporation said on Wednesday (May 18) that the firm had recorded 3 consecutive years of losses and might be placed on the Singapore Exchange's (SGX) watch-list for failing to meet the bourse’s criteria.