Weekly Review with SIAS: Mapletree Pan Asia Commercial Trust, Seatrium & SATS in focus



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By Beansprout • 04 Jun 2024 • 0 min read

We share about Mapletree Pan Asia Commercial Trust, Seatrium and SATS in the latest Weekly Market Review.

weekly market review 3 June 2024
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What happened?

In this week's Weekly Market Review in partnership with Securities Investors Association Singapore (SIAS), we discuss the growing upward trend in the global equity market and also share more about the following:

Watch the video to learn more about what we are looking out for this week.

Weekly Market Review

2:00 - Macro update

  • The US Federal Reserve's minutes revealed a reluctance to cut rates due to persistent inflation, leading to a bounce in US bond yields.
  • The core inflation numbers released on Friday were slightly below market expectations, resulting in a slight recovery in the US market.
  • Expectations for Fed rate cuts in 2024 decreased, with a lower probability of multiple cuts, potentially affecting market sentiment moving forward.

2:48 - Singapore market updates


STI Top performers:


STI Worst performers:

5:05 - Mapletree Pan Asia Commercial Trust

  • Mapletree Pan Asia Commercial Trust announced the divestment of Maple Tree Anson for $775 million, above its valuation and original purchase price.
  • Reasons for divestment include strengthening the capital structure, equitability to unit holders, and realising gains over the valuation and purchase price.
  • The divestment is expected to lower gearing ratio and increase distribution per unit by about 1.5%.

Find out more about Mapletree Pan Asia Commercial Trust here.

10:03 - Seatrium

  • Seatrium's secured a $11 billion order from Petrobras.
  • The addition of two substantial oil production assets to Seatrium's order book enhances its revenue outlook and potential for profitability.
  • Seatrium has set ambitious targets, aiming to achieve an EBITDA exceeding $1 billion by 2028 and a return on equity surpassing 8%.

Find out more about Seatrium here.

11:32 - SATS

  • SATS reported significant increases in revenue, EBITDA, and net profit, driven by the acquisition of WFS.
  • Revenue increased from $1.8 billion to $5.1 billion, EBITDA from $173 million to $890 million, and net profit reversed from a loss to a $56 million profit.
  • Improvement in financial metrics and balance sheet, including better interest coverage and larger debt headroom, post-acquisition.
  • Notable performance turnaround, especially in the fourth quarter, with increased profit from continuing operations.

Find out more about SATS here.

14:02 - Technical Analysis

STI Technical Analysis

  • STI demonstrated a strong uptrend performance, supported by the 20-day moving average.
  • Consideration of entry points between the 20-day and 50-day moving averages.
  • Preference for waiting for a pullback rather than chasing the rally.

Dow Jones Technical Analysis

  • Dow Jones experienced a 600-point decline followed by a significant rebound.
  • Entry point considerations at the 20-day and 100-day moving averages.
  • MACD indicator signalling a potential shift in momentum.

S&P 500 Technical Analysis

  • S&P 500 showed a rebound after hitting the 20-day moving average.
  • Entry point considerations at the 20-day moving average and potentially the 50-day moving average.
  • Divergence in indicators, with the RSI indicating positive momentum and the MACD indicating negative momentum.

NASDAQ Composite Technical Analysis

  • NASDAQ Composite demonstrated a slight decline compared to other indices.
  • Entry point considerations at the 50-day moving average.
  • Indicators suggesting a potential pullback and reversal of the downtrend.

What to look out for this week

  • Thursday, 3rd of June: Six-month T-bill auction
  • Thursday, 3rd of June: ECB meeting (possible rate cut) 
  • Friday, 6th of June: US non-farm payroll data 

Get the full list of Singapore stocks, REITs and ETFs with upcoming dividend payments with our dividend calendar.

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