SG Morning Highlights | Singapore Airlines Posts 59% Decline in Q2 Net Profit

Advancers / Decliners is 107 / 91, with 94.62M securities worth S$188.94M changing hands.

The Housing & Development Board (HDB) of Singapore recorded a net deficit of $6.775 billion before government grants in FY 2023, an increase from $5.38 billion in FY 2022. The majority of this deficit, $6.225 billion, was due to the development of Build-To-Order (BTO) flats and the disbursement of CPF housing grants. This year's deficit reflects HDB's continued effort to keep housing affordable through subsidies, particularly for Prime Location Public Housing, and an increased output in BTO flats, with about 22,700 units started, up 50% from the previous year. Additional expenditures included $160 million for rental housing schemes, $396 million for upgrading programs, and $446 million for residential ancillary functions.

Singapore Shipping Corporation Limited experienced a 71.9% increase in net income to US$7.77 million in the first half of 2024, driven by enhanced revenue growth and interest earnings. The company's revenue rose by 10.6% to US$25.3 million, primarily propelled by its agency and logistics segment. Additionally, it saw significant foreign exchange gains of US$2.14 million, contrasting sharply with a US$1.11 million loss in the previous year, due to the appreciation of Singapore dollar deposits against the US dollar. No interim dividend was declared for the period.