利雅得是沙特阿拉伯的首都，也是该国的行政和金融中心。游客可以参观诸如迪里耶和马斯马克堡垒这 样的历史遗迹，还能欣赏到世界级博物馆、豪华酒店等景点。 待有关当局批准后，新加坡—利雅得航线的客票将逐步在新加坡航空的销售渠道上开放预订。（编辑： 张彤 校对：张薇 审核：程凌） 新加坡航空公司首席商务官李立兴表示："我们此次重返利雅得正值该城市经济繁荣、蓬勃发展之际， 除了新增这一目的地，我们还将与合作伙伴携手，为客户提供更多该区域的出行选择。" 利雅得将成为新航集团在沙特阿拉伯的第二个运营航点，与新加坡酷航每周4班新加坡—吉达航线形成 互补。 《中国民航报》、中国民航网 记者郑雪 报道：近日，新加坡航空公司宣布，将于6月开通新加坡至沙特 阿拉伯利雅得直航服务，每周4班。该航线将采用空客A350-900中程客机执飞，配备有303个座位，包 括40个商务舱座位和263个经济舱座位。 待有关当局批准后，新加坡飞往利雅得的SQ498航班将于每周二、周四、周六、周日18时20分出发，利 雅得飞往新加坡的SQ499航班则将于同日23时出发（以上均为当地时间）。 ...

Core Viewpoint - Singapore Airlines Limited (SIA) has experienced stagnant share prices despite overall market gains, primarily due to significant declines in profitability driven by losses from its stake in Air India [1][3][17]. Financial Performance - For the six months ending September 30, 2025, SIA's revenue increased by 1.9% year-on-year to S$9.7 billion, but profitability plummeted by 67.9% year-on-year to S$238.5 million, largely due to losses from associated companies [3][17]. - Free cash flow (FCF) decreased significantly to S$817.6 million from S$1.17 billion in the previous year, indicating weaker operating leverage [4][14]. Impact of Air India - SIA's 25.1% stake in Air India has been a major factor in its profitability decline, with Air India reporting a net loss of US$1.15 billion for fiscal year 2025 [5][6]. - The integration of Vistara has further complicated Air India's financial situation, leading to a negative contribution of S$375.4 million to SIA's results from share losses [6][7]. - Management remains committed to the Air India stake, citing potential growth in the Indian air travel market, but challenges persist due to competition and operational issues [7][8]. Passenger Demand and Yields - Passenger numbers for SIA rose by 6.2% year-on-year to 13.7 million, with a load factor improvement to 86.7% [10]. - However, passenger yields decreased by 1.8% year-on-year to S$0.11 per km, and cargo revenue fell by 2.8% year-on-year to S$1.07 billion, indicating pressure on yields despite volume growth [11]. Balance Sheet Strength - As of September 30, 2025, SIA maintained a strong balance sheet with cash and equivalents totaling S$8.5 billion, although borrowings were elevated at S$7.8 billion [12]. - The debt-to-equity ratio remains healthy at 0.70 times, providing a buffer against weaker operating profits [12]. Dividend Policy - SIA declared an interim dividend of S$0.05 per share, a 50% reduction compared to previous years, reflecting a cautious approach in light of the uncertain operating environment [13][14]. - The decline in free cash flow has contributed to the lower dividend payout, indicating management's prudence rather than distress [14]. Future Outlook - SIA's share price may rally if there is clarity regarding Air India's earnings trajectory and if the airline can improve passenger and cargo yields [15][17]. - The company's future performance will depend on its ability to manage costs and navigate the competitive landscape, with Air India's performance being a significant factor [17][18].

Many new investors usually begin their investment journey by buying a stock that their friends or family introduced them to. It can be a household name or a company that feels “safe”, but not necessarily a company that you know well. But the single most costly mistake that Singapore investors make is exactly this: buying shares of a company without truly understanding its business.  On the surface, it seems harmless. After all, big-chip names like DBS Group Holdings (SGX: D05) and Keppel Ltd (SGX: BN4) are ...

Core Insights - Singapore blue-chip stocks are traditionally viewed as stable investments with strong financials and reliable dividends, but they also carry inherent risks that investors must consider [1][18]. Group 1: Definition and Characteristics - A blue chip is typically a large company with solid financials, stable earnings, prudent money management, and consistent dividends, often represented in the Straits Times Index [2]. - Blue-chip companies are usually industry leaders, such as DBS Group Holdings, Singapore Telecommunications Limited, and Singapore Exchange Limited [2]. Group 2: Risks Associated with Blue-Chip Stocks - **Market Sensitivity**: Blue-chip stocks are not immune to market fluctuations; historical examples show that even established companies can experience significant share price declines during downturns [3][4]. - **Regulatory and Policy Changes**: Many blue-chip companies operate in highly regulated industries, making them vulnerable to changes in regulations and competitive environments, as seen with Singtel's profit contraction due to adverse regulatory rulings [6][7]. - **Industry-Specific Challenges**: Blue-chip companies face unique challenges within their industries, such as the shift to online retail impacting physical retailers like CapitaLand Integrated Commercial Trust [9][10]. - **Economic Sensitivity**: Blue-chip stocks can be cyclical and sensitive to economic conditions, as demonstrated by Singapore Airlines' significant revenue loss during the COVID-19 crisis [11][12]. - **Overvaluation in Bull Markets**: Blue-chip stocks can become overvalued during bull markets, leading to compressed future returns and increased risk of price corrections; for instance, DBS's high price-to-book ratio indicates potential overvaluation [14][16]. Group 3: Investment Strategies - Maintaining a diversified portfolio is essential to mitigate risks associated with market sensitivity, regulatory changes, industry challenges, economic sensitivity, and overvaluation [5][19]. - Investors should conduct careful analysis of price-to-earnings and price-to-book ratios, dividend yields, and business fundamentals to ensure investments have growth potential [16][17].

Core Insights - The Beijing Capital International Airport has expanded its electronic boarding pass full-process customs clearance service to include four additional international airlines: Singapore Airlines, EVA Air, Turkish Airlines, and Emirates [1] Group 1: Service Expansion - The electronic boarding pass full-process customs clearance service now covers 15 airlines operating 20 routes, with a weekly frequency of 354 flights [1] - The service has cumulatively assisted over 180,000 passengers [1] Group 2: Specific Routes - The specific routes include 11 operated by Air China from Beijing Capital to Sydney, Melbourne, and Singapore, as well as 12 routes operated by foreign airlines such as Cathay Pacific, Hong Kong Airlines, Lufthansa, United Airlines, Asiana Airlines, and Air France to destinations like Munich, San Francisco, and Seoul [1] Group 3: Future Developments - Starting from April 2024, the airport will introduce a "paperless" travel experience for outbound passengers on international and regional flights using electronic boarding passes, allowing travelers without checked luggage to skip the check-in counter queue [1]

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Core Viewpoint - In a rate-easing cycle, dividend stocks yielding above 5% are becoming more attractive for income investors, but high yield does not guarantee a good investment [1] Group 1: Mapletree Industrial Trust (MIT) - MIT is a REIT focusing on data centres and industrial properties, with a DPU of S$0.0327 for 1QFY25/26, reflecting a 4.7% YoY decline [2] - The current share price is S$2.16, resulting in a yield of 6.2% [2][3] - Occupancy rate is resilient at 91.4%, with a positive rental reversion rate of 8.2% across Singapore properties [3] - MIT has an aggregate leverage ratio of 40.1% and total borrowings of S$3.7 billion, with 79.7% of its debt fixed and hedged [3] - 54.8% of its AUM is tied to data centres, with a strategic shift towards DCs and logistics projects in Asia [4] Group 2: Singapore Airlines (SIA) - SIA has resumed paying dividends post-pandemic, with a cumulative dividend of S$1.26, representing 19% of its current share price of S$6.55 [6] - The latest dividend payment of S$0.40 per share for FY2024/2025 shows a 16.7% YoY decrease [6] - The trailing yield is 6.1% at a share price of S$6.57 [7] - The passenger load factor was 88.0% in August 2025, up from 85.7% YoY, but down from previous months [8] - Net profit decreased by nearly 59% YoY due to rising non-fuel costs, while net operating cash flow remains robust at S$4.71 billion [8][9] Group 3: Venture Corporation - Venture Corporation is a global electronics manufacturing services company with a strong dividend track record, paying S$0.75 per share annually since FY2020 [10] - The current share price is S$14.25, yielding 5.6% [11] - The company reported a net operating cash flow of S$149.8 million in 1H2025, reflecting an 11.9% margin [11] - The diverse manufacturing portfolio includes high-growth areas like life sciences and medical technology [12] Group 4: Comparative Analysis - MIT is characterized as a stable REIT with strong growth drivers in data centres and logistics [13] - SIA is identified as a cyclical business reliant on travel demand [13] - Venture Corporation is noted for its consistent dividend payments linked to global electronics cycles [13]

Core Insights - Blue-chip stocks are essential for a stable investment portfolio, providing a reliable source of passive income through dividends [1] Group 1: DBS Group (SGX: D05) - DBS is Singapore's largest bank by market capitalization, offering a wide range of banking, insurance, and investment services [3] - In 1H 2025, total income rose by 5% year on year to S$11.6 billion, driven by a 3.2% increase in net interest income to S$7.3 billion [3] - Fee and commission income surged 17% year on year to S$2.4 billion, with profit before tax reaching a record S$6.8 billion, up 3% year on year [4] - Net profit decreased by 1% year on year to S$5.7 billion due to a 15% global minimum tax rate [4] - An interim dividend of S$0.75 was declared, which is 39% higher than the previous year's S$0.54 [5] Group 2: Singapore Exchange Limited (SGX: S68) - SGX is the sole stock exchange operator in Singapore, enjoying a natural monopoly [6] - For FY2025, net revenue increased by 11.7% year on year to S$1.3 billion, with net profit excluding one-off items climbing 16% year on year to S$609.5 million [6] - A final dividend of S$0.105 was declared, 16.7% higher than the previous year's S$0.09 [7] - SGX anticipates medium-term revenue growth of 6% to 8% per annum, supported by product developments and global partnerships [8] Group 3: Singapore Technologies Engineering (SGX: S63) - STE operates in aerospace, smart city, and public security sectors, known for consistent dividend payouts [9] - Revenue for 1H 2025 rose 7.2% year on year to S$5.9 billion, with operating profit improving by 15.2% year on year to S$602.2 million [9] - Net profit increased nearly 20% year on year to S$402.8 million, with an interim dividend of S$0.04 declared [10] - The order book stood at S$31.2 billion, with S$5 billion expected to be delivered for the remainder of the year [10] Group 4: SATS Ltd (SGX: S58) - SATS provides air cargo handling services and is Asia's leading airline caterer, operating over 225 stations across 27 countries [12] - Revenue for 1Q FY2026 rose 9.9% year on year to S$1.5 billion, while operating profit increased nearly 11% year on year to S$125.2 million [13] - Net profit increased by 9.1% year on year to S$70.9 million, with cargo tonnage reaching a record high of 3.2 million tonnes [13] - The number of flights handled rose 3.2% year on year to 279,100, and meals served increased by 5.6% year on year to 39.1 million [14]

Core Viewpoint - Singapore Airlines reported a significant decline in earnings, leading to a notable drop in its stock price, indicating potential challenges in its financial performance for the first quarter of the 2025/2026 financial year [1][2]. Financial Performance - The net profit for Singapore Airlines fell to 186 million Singapore dollars (approximately 144 million USD) for the quarter ended June 30, marking a 59% decline compared to the previous year [2]. - The operating profit also decreased by 13.8% year over year, amounting to S$405 million [2]. Stock Market Reaction - Following the earnings report, shares of Singapore Airlines fell more than 8%, experiencing the largest intra-day decline since August 2024, with current trading down 7.11% [1].

Group 1 - The core point of the article is that Singapore Airlines reported a revenue of 4.79 billion SGD for the first quarter, with a net profit of 186.1 million SGD, reflecting a year-on-year decrease of 59% [1] Group 2 - The revenue figure of 4.79 billion SGD indicates the company's performance in the aviation sector during the first quarter [1] - The net profit of 186.1 million SGD shows a significant decline compared to the previous year, highlighting potential challenges faced by the company [1]