SG Morning Highlights | Bukit Sembawang H2 Profit Down 26.2% to S$21.8 Million

Advancers / Decliners is 76 to 74, with 89.74 million securities worth S$102.19 million changing hands.

Declining net asset values (NAVs) of Singapore-listed real estate investment trusts (S-Reits) are among the top concerns for investors, as portfolio valuations weaken and debt ratios continue to creep up.

Based on data compiled by The Business Times (BT), the managers of 14 of the 27 S-Reits that conducted their annual general meetings (AGMs) over the past month faced questions regarding NAV performance. Unitholders of another six S-Reits voiced concerns over asset valuations.

Singapore and Kazakhstan inked four agreements on Monday (May 22), including one that will give Singapore companies greater access into Kazakhstan's services sectors and protect investors' interests.

President Halimah Yacob and Kazakhstan President Kassym-Jomart Tokayev jointly witnessed the signing of the services and investment agreement and three other deals at Akorda Palace, Kazakhstan's presidential office.

The legally binding agreement offers mutual benefits for businesses from both countries, which in turn will generate opportunities in a range of sectors, said Singapore's Ministry of Trade and Industry (MTI) on Monday.

Singapore is seeking to expand the talent pool for artificial intelligence (AI) and data analytics in the finance sector.

The city-state's banks and schools will work with the financial regulator on training programmes that incorporate the latest AI developments and trends, the Monetary Authority of Singapore (MAS) said on Monday (May 22).

"If you look at all the trends, almost every function of the finance sector requires AI," Sopnendu Mohanty, the MAS' chief fintech officer, said. There is a "serious challenge" in terms of AI resources around the world, he added.

Revenue decreased by 15% y-o-y to $76.5 million, while cost of sales increased by 5% to $62.6 million.

Gross profit for the period decreased by 54% y-o-y to $30 million mainly due to lower profit recognised on development projects. In 2HFY2023, profits were recognised for Nim Collection Phase 2, The Atelier and LIV@MB.