SG Morning Highlights | SingPost reports 9.7% lower operating profit of S$33.9 million

Advancers / Decliners is 76 to 61, with 123.55 million securities worth S$68.99 million changing hands.

Fresh graduates from Singapore's four autonomous universities had higher full-time employment rates and salaries in 2022, compared to earlier and pre-pandemic cohorts, according to an annual survey released on Monday (Jan 20).

Asian markets were mixed on Monday with traders on edge as they considered the prospect of more US interest rate hikes aimed at bringing down stubbornly high inflation.

Equities have struggled this month to build on January's rally, with recent data showing that the Federal Reserve still had plenty of work to do to get prices under control.

Investors are now awaiting the release of minutes from the central bank's most recent policy meeting, hoping to gauge officials' views on their next steps.

The head of a global standard setter for corporate sustainability disclosures said he expected more than 40 countries to adopt initial rules on climate reporting when they go live in 2024.

The International Sustainability Standards Board (ISSB) passed a key milestone last Thursday (Feb 16) by approving rules that will form a 'baseline' for companies' climate-related reporting across the globe, to better help investors assess risks and opportunities.

Despite parts of the data underpinning the disclosures remaining patchy, and with some companies further ahead than others, getting rules in place quickly is seen as a crucial part of the world's transition to a low-carbon economy.

On Tuesday (Feb 21), the postal service provider said group revenue grew 13.4 per cent on-year to S$495.1 million from S$436.6 million previously amid the seasonal peak for its businesses across its various markets.

On the other hand, operating expenses increased by 15.3 per cent to S$460.8 million from S$399.6 million the previous year, mainly due to higher volume-related and labour-related expenses from the consolidation of its fourth-party logistics operator in Australia, Freight Management Holdings (FMH).

Net profit for the six months ended Dec 31, 2022, rose to S$255.7 million from S$95.1 million in the same period a year prior.

This was mainly due to travel recovery gaining momentum in the second half of 2022, resulting in improved revenue, the operator of Resorts World Sentosa (RWS) said in a regulatory filing on Monday (Feb 20).

The group attributed the improved profits to higher contributions from its renewables and conventional energy segments.

Earnings per share for the energy company also rose 54 per cent to 20.09 Singapore cents for H2 2022, from 13.06 Singapore cents for H2 2021.

Based on a build-operate-transfer model with a concession period of 30 years, the project comprises the construction of a new wastewater treatment plant, pipeline networks with a total length of 38 kilometres, and a pumping station.

It will be constructed in two phases, and have a combined daily wastewater treatment capacity of 60,000 cubic metres, Everbright Water said.