SINGAPORE: Companies are rolling out their latest quarterly reports and business updates, offering investors a peek into the market’s performance and potential opportunities.
According to The Smart Investor, amidst this financial whirlwind, there are four Singapore stocks you should keep your eyes on in May.
1. iFAST Corporation Limited
iFAST, a fintech company facilitating unit trusts, equities, and bonds trading, reported stellar first-quarter earnings in 2024.
With revenue soaring by 59.4% to S$86 million and operating profit quadrupling to S$18.5 million year-on-year, iFAST demonstrated robust growth. Notably, net profit surged by 334% to S$18.1 million.
The company attributed this success to the performance of its ePension division and improvements in its core wealth management business.
Alongside its strong results, iFAST declared an interim dividend of S$0.013, marking a 30% increase from the previous year. Additionally, the company’s assets under administration reached a new high of S$21.05 billion as of March 31, 2024.
Management anticipates continued growth, with the ePension division and iFAST Global Bank’s digital banking segment expected to drive expansion in the coming years.
2. Aztech Global
Aztech Global, an electronics design and manufacturing solutions provider, faced challenges in the first quarter of 2024. Revenue declined 20% to S$128.6 million.
Despite this, the company saw an 18.7% increase in net profit to S$15.9 million, aided by a net exchange gain and provision write-backs.
Aztech Global maintained a robust free cash flow of S$49.6 million and a healthy net cash position of S$302 million.
As of April 23, 2024, Aztech Global secured new customers and boasted an order book of S$456 million, particularly for sound and light IoT (Internet of Things) and visual IoT.
The company aims to strengthen its IoT and electronics manufacturing services to drive future growth.
3. OUE REIT
OUE REIT, owning seven assets in Singapore (six) and Shanghai (one) valued at S$6.3 billion, reported encouraging results for the first quarter of 2024.
Revenue increased by 9.5% year-on-year to S$74.9 million, driven by higher contributions from Hilton Singapore Orchard and resilient income from its Singapore commercial properties.
Net property income (NPI) improved by 6.9% year-on-year to S$60.5 million.
Despite a slight decline in office occupancy at its Shanghai asset, OUE REIT’s hospitality segment performed well, with revenue climbing by 22.7% to S$26.9 million and NPI increasing by 15.9% to S$23.8 million.
Additionally, revenue per available room (RevPAR) for the division surged 23.3% year-on-year to S$280 for the first quarter of 2024, surpassing the pre-pandemic RevPAR of S$209.
With its diverse portfolio and resilient business model, OUE REIT remains an attractive option for investors seeking stability and growth.
4. AEM Holdings
AEM Holdings, a leading semiconductor and electronics test solutions provider, operates globally, with R&D centres in Singapore, Malaysia, Finland, France, and the US and manufacturing plants worldwide.
Recently, the company announced that a major fabless provider of high-performance computing and AI semiconductor chips has selected its next-generation automated burn-in test system.
The deliveries are set to start this year, and further shipments are anticipated in the following years.
Additionally, AEM expanded the adoption of its active thermal control solutions for upcoming AI devices with high power thermal demands.
These developments position AEM as a key player in providing differentiated and cost-effective solutions to the semiconductor industry.
Remember to keep your eyes on the changing market dynamics and practise a balanced approach to risk and reward. /TISG
Read also: 3 Singapore game-changer stocks to watch out for in April
Disclaimer: This article is for educational purposes only. It should not be considered Financial or Legal Advice. Investors should conduct their own due diligence before making major financial decisions
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