Market View: Sats’ 2H earnings down despite 57.1% rise in revenue; SIA’s appetisers on Sats’ top line; Delay in Olam Agri’s IPO; CP All, Airports of Thailand, PPT Exploration and Production; Eyes on Washington with Congress set to vote on debt ceiling deal

Your Way Home with Hongbin Jeong · May 30, 2023 · 12m

Singapore shares opened higher today after European markets ended mixed amid concerns over the US debt deal and rate hike possibility. In early trade, the Straits Times Index (STI) was up 0.1 per cent to 3,197.69 points after 41.6 million securities changed hands in the broader market. In terms of companies to watch for today, we have Sats. The in-flight caterer and ground handler reported earnings of S$6 million for the second half-year ended March 2023. That’s a 16.7 per cent decrease year on year, and comes despite a 57.1 per cent increase in revenue. Elsewhere, all eyes are on Washington…