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]

Group 1 - Singapore Airlines reported an 8.2% year-on-year increase in passenger numbers for June, indicating strong demand for air travel as the summer holiday season begins [1]

Group 1 - Singapore Airlines has canceled several flights between Singapore and Dubai from June 22 to June 25 [1]

Group 1 - The core point of the article highlights that Singapore Airlines reported a net income of 2.78 billion SGD for the year, exceeding market expectations of 2.37 billion SGD [1] - The company's operating profit for the year was 1.71 billion SGD, which fell short of market expectations of 1.96 billion SGD [1]

Group 1 - Singapore Airlines reported a net profit of SGD 1.6 billion in Q2 FY25, primarily driven by a non-cash gain from the merger between Air India and Vistara [2] - The merger involved Vistara, which was previously a joint venture between Tata and Singapore Airlines [2] - The Aerospace Forum aims to identify investment opportunities in the aerospace, defense, and airline sectors, leveraging data analytics for informed analysis [2] Group 2 - The article emphasizes the significance of data-informed analysis in understanding complex industry developments and their potential impact on investment strategies [2]

Core Insights - Singapore Airlines reported a nearly 50% decline in net profit for the first half of the fiscal year, attributed to lower yields and increased competition [1][2][3] - The airline's net profit for the period was $742 million SGD ($559.12 million), down 48.5% from $1.44 billion SGD a year earlier [2] - Operating profit also fell by 48.8% to $796 million SGD, while revenue increased by 3.7% to $9.5 billion SGD [2] Financial Performance - The significant drop in net profit and operating profit was linked to "increased capacity and stronger competition in key markets," which negatively impacted yields [3] - Despite the profit decline, Singapore Airlines maintained an interim dividend of 10 cents per share [2] Future Outlook - Demand for air travel is expected to remain strong in the second half of the financial year, although the competitive operating landscape is anticipated to persist [3] - Singapore Airlines announced a $1.1 billion SGD cabin retrofit program for its 41 long-range and ultra-long-range Airbus A350 jets, with the first retrofitted jet expected to enter service by 2026 and completion of the program by 2030 [3][4]

Core Insights - Singapore Airlines is introducing a four-seat first class on its Airbus A350-900 ultra-long-range aircraft to attract high-spending travelers on long flights exceeding 17 hours [1][2] - The airline will also upgrade its long-haul Airbus cabins with new business class seats, likely featuring suites with sliding doors, which are becoming popular for offering privacy [2][3] - The new first and business class seats will include enhanced in-flight entertainment, although specific details about the new cabins have not been disclosed [3] Industry Trends - Airlines globally are investing billions of dollars to enhance their premium cabins to appeal to travelers willing to pay for additional comfort and space [3] - The trend of incorporating suites with sliding doors is being adopted by various carriers, from major international airlines like Singapore Airlines to smaller ones like JetBlue Airways [3]