The Straits Times Index (SGX: ^STI) concluded the week on a slightly bearish note, closing at 3,555 points. Despite this, the market witnessed some notable individual performances.
Hongkong Land (SGX: H78) was a standout performer, surging over 13% to close at $4.48. The company announced a strategic shift towards fund management and a focus on ultra-premium commercial properties in key Asian cities. By 2035, Hongkong Land aims to recycle up to US$10 billion in capital, double its pre-tax profit, and double its dividend per share. Additionally, it intends to grow its assets under management from US$40 billion to US$100 billion.
Agri-business giant Olam Group (SGX: VC2) saw a 14% jump in its share price to S$1.22 after confirming discussions to sell its remaining stake in Olam Agri to a Saudi state-owned investment firm.
Thai Beverage (SGX: Y92) experienced a 5.7% decline, closing at S$0.50. While the company reported a 2.5% increase in revenue for the third quarter, net profit fell by over...