SG Morning Highlights | CapitaLand Integrated Commercial Trust Posts Higher DPU and NPI for H2 2022

Moomoo News SG wrote a column · Feb 6, 2024 09:06

SG Morning Highlights | CapitaLand Integrated Commercial Trust Posts Higher DPU and NPI for H2 2022

Good morning mooers! Here are things you need to know about today's Singapore markets:

●Singapore shares opened lower on Tuesday; STI down 0.20%

●Singaporean Brands Lag Behind in AI Integration Despite Consumer Preference: Study

●Deliveroo Drives Digitisation in Singapore's F&B Sector, Estimated to Contribute $139m to Local Economy

●Stocks to watch: CICT

●Latest share buy back transactions

-moomoo News SG

Market Snapshot

Singapore shares opened lower on Tuesday. The $FTSE Singapore Straits Time Index (.STI.SG)$ dropped 0.20 percent to 3,128.12 as at 9.04 am.

Advancers / Decliners is 68 to 66, with 134.26 million securities worth S$81.16 million changing hands.

Breaking News

Singaporean Brands Lag Behind in AI Integration Despite Consumer Preference: Study

According to a recent study by Adobe, Singaporean brands are lagging behind their global peers in leveraging AI, despite consumers becoming more inclined towards AI-enabled tools and services over human interaction. The study found that nearly half of consumers in Singapore prefer AI-assisted brand interactions over human input, particularly for exploring new products and services, surpassing the global average of 40%. However, only 12% of Singaporean brands adopt generative AI to enhance customer experience, lower than the global average of 17%. On the other hand, Singapore beats global peers in rolling out upskilling initiatives for its staff working with generative AI. The study also found that while 61% of consumers prefer AI, they are still concerned about non-consensual use of their personal data, and 64% are concerned that too much data will be collected.

Deliveroo Drives Digitisation in Singapore's F&B Sector, Estimated to Contribute $139m to Local Economy

According to a report commissioned by Deliveroo, digitisation for 57% of restaurants in Singapore increased after partnering with the food delivery platform, highlighting the significant role food delivery platforms play in the country's digital economy. The report estimated that Deliveroo contributed $139m in gross value added to Singapore's economy in 2022, supported 5,250 jobs, and garnered over 9,000 restaurant partners. The survey also found that 25% of the app users expanded their restaurants to cater to the growing volume of customers. Deliveroo's data-driven insights and pick-up campaigns have helped Teyst Group's The Daily Cut restaurant achieve a fivefold increase in order volumes and Poke Theory experience a 500% surge in sales.

Stocks to Watch

$CapLand IntCom T (C38U.SG)$: CapitaLand Integrated Commercial Trust (CICT) has announced a distribution per unit (DPU) of S$0.0545 for the second half ended December, up 1.7% from the previous corresponding period. Gross revenue rose 4.1% to S$785.2 million, while net property income (NPI) grew 4% to S$563.6 million for the half-year period, supported by higher rental and occupancy rates. CICT's distributable income was up 2.1% to S$362.5 million, attributed to proactive portfolio management and prudent cost management. For the full year ended December 31, 2023, DPU was 1.6% higher at S$0.1075, and distributable income climbed 1.9% to S$715.7 million. The improvement in performance was mainly due to higher contributions from Raffles City Singapore and the full-year contributions from the Reit's 2022 acquisitions.

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