The demand for data centers has been skyrocketing in recent years as the world embraces AI and increasing digitalisation. With legs to go for these trends, investors may be wondering if there’s a way to get exposure. Listed on the local exchange are two names that investors often compare: Keppel DC REIT (SGX: AJBU) and Digital Core REIT (SGX: DCRU).In this article, we examine which of the two presents a stronger buy. Business OverviewAlthough both REITs are in the business of owning and operating data cente ...

Company Overview - Ulma Packaging UK has appointed Paul Morican as the new managing director, effective from early 2026 [1] - The company specializes in providing packaging solutions across various sectors, including cheese, confectionery, fish, fresh produce, meat, poultry, and ready meals [1] Leadership Background - Paul Morican has over 20 years of experience in leadership roles within packaging technology, processing equipment, and industrial manufacturing [1] - His career began as a Royal Naval officer before transitioning to the packaging equipment industry in 1996 [2] Strategic Vision - Morican expressed admiration for Ulma's reputation for engineering excellence and customer support, indicating a commitment to high-performance packaging and automation solutions for manufacturers in the UK and Ireland [2] - The company introduced the TFX line of thermoforming machines last year, aimed at enhancing production efficiency and addressing sustainability issues [3] Product Development - The TFX series is designed to improve manufacturing processes and reduce environmental impact, aligning with industry trends towards increased digitalization [3] - In June 2024, Ulma Packaging UK launched new features for its radio-frequency identification-based maintenance system, enhancing operational efficiency during format changes [4]

Group 1: Market Overview - The current market is experiencing all-time highs, driven by declining rates and themes like digitalisation and green energy, suggesting continued growth potential [1] - Emphasis on the importance of selecting quality businesses to capture growth while mitigating risks when market conditions change [1] Group 2: Company Highlights - **Sheng Siong Group Limited**: A recession-resilient grocery store chain in Singapore, projected to grow revenue from S$1.4 billion in 2021 to S$1.6 billion in 2025, with a CAGR of 2.4% [2] - Net income is expected to grow from S$138.7 million to S$149.5 million during the same period, with a CAGR of 1.5% [3] - **Keppel Limited**: A diversified conglomerate benefiting from digitalisation, infrastructure, and renewable energy, with a projected net profit of S$1.1 billion for FY2025, a 39% increase [5] - Recurring income for Keppel is expected to rise 21% YoY to S$941 million, supported by asset management and operations [5] - **Seatrium Limited**: Emerging from a bear market, revenue is projected to rise 24.3% to S$11.5 billion for FY2025, driven by strong project execution [6] - Net profit is expected to more than double to S$323.6 million, with a gross margin increase to 7.4% [7] - **Singapore Exchange Limited**: Positioned to benefit from government initiatives to enhance market liquidity, with an average free cash flow of S$487.8 million over the last nine years [8] - Annual dividend per share is projected to grow from S$0.32 in FY2021 to S$0.375 in FY2025, reflecting a CAGR of 4.0% [9] - **China Sunsine Chemical Holdings Limited**: Notable for its strong balance sheet with RMB 2.3 billion in cash and zero debt, allowing flexibility in capital allocation [10] - The company has maintained a consistent annual dividend since 2007, showcasing disciplined capital management [11] Group 3: Investment Insights - The five highlighted companies represent strong opportunities for appreciation through earnings growth and sound balance sheet management [12] - Focus on underlying fundamentals is crucial for positioning investments for future growth [12]

Core Insights - Kine Årdal has successfully navigated her career from oil and gas to renewable energy, emphasizing the importance of digitalization in enhancing operational efficiency and growth [6][10][24] - The article highlights the challenges faced by women in male-dominated industries, including gender bias and the need for supportive networks [11][12][25] - Årdal's journey illustrates the significance of curiosity, adaptability, and continuous learning in achieving leadership roles [5][16][18] Career Development - Årdal began her career at Chevron, where she spent nearly eight years, gaining technical depth and building an international network [4][3] - After moving to smaller companies, she realized the necessity of proactively shaping her career path [2] - Her role as Chief Digital and Information Officer at Scatec involves overseeing the digitalization agenda across a global renewable energy portfolio [6][10] Gender Representation - The article discusses the gender imbalance in the energy sector, with Årdal being one of the few women in her early career roles [7][11] - Despite challenges, she found support through initiatives like Norway's Female Future programme, which provided a platform for women to share experiences [14] - Årdal emphasizes the importance of equal opportunities and policies that support women's progression in the industry [26][24] Leadership Insights - Årdal advocates for self-reflection and continuous improvement as essential components of effective leadership [18][21] - She highlights the importance of visibility and networking in opening up career opportunities [18][20] - The article notes that leadership requires stamina and the ability to manage stakeholder expectations effectively [21][22] Industry Transformation - Årdal's experience reflects the ongoing transformation in the energy sector, where digitalization plays a crucial role in both hydrocarbons and renewables [10][24] - She believes that diversity in teams enhances value and perspectives, which is vital for the industry's evolution [27] - The article concludes that leaders like Årdal are paving the way for future generations by connecting various disciplines and fostering inclusivity [27][28]

The European hospitality industry continues to grapple with significant labour shortages and skills gaps, according to a January 2026 position paper published by HOTREC, the umbrella organisation for hotels, restaurants, bars and cafés in Europe. The report, Skills and Labour Shortages in Hospitality – A Roadmap for Action, highlights persistent workforce challenges and proposes policy recommendations to support workforce development and labour supply across the sector. Labour and skills shortages persi ...

Core Insights - The Finnvera Group reported a significant decline in profit to EUR 16 million in 2025, primarily due to the return of a fund payment commitment of EUR 349 million to the State Guarantee Fund, despite a strong operating result of EUR 365 million [4][10][20]. Financial Performance - The operating result for the period was strong at EUR 365 million, but the total profit was reduced to EUR 16 million after the return of the fund payment commitment [4][10]. - The Group's net interest income decreased by 13% to EUR 121 million, and net fee and commission income fell by 16% to EUR 167 million compared to the previous year [22][28]. - Realised credit losses were significantly lower at EUR 36 million, down 70% from the previous period, contributing positively to the operating result [23][28]. Financing Activities - Finnvera granted domestic loans and guarantees amounting to EUR 1.0 billion, a 10% increase from EUR 0.9 billion in 2024 [5][15]. - Export credit guarantees and special guarantees surged to EUR 7.0 billion, a 143% increase from EUR 2.9 billion in 2024, reflecting strong financing volumes for the cruise shipping sector [8][15]. - The volume of export credits granted reached EUR 5.6 billion, an increase of 837% from EUR 0.6 billion in the previous year, although EUR 3.1 billion of this financing fell through [9][15]. Balance Sheet and Reserves - The total balance sheet increased by 5% to EUR 15.5 billion, while contingent liabilities rose by 12% to EUR 16.8 billion [2][4]. - Non-restricted equity and assets of the State Guarantee Fund increased by 17% to EUR 2.5 billion, indicating a strengthening of reserves for potential losses [2][4]. - Expected credit losses on the balance sheet items decreased by 14% to EUR 1.0 billion [2][4]. Strategic Developments - Finnvera updated its organizational structure to better serve Finnish companies' growth and internationalization needs [11]. - The company became a shareholder in the European Investment Fund (EIF) to enhance its integration into EU financing facilities, particularly for SMEs [12]. - A legislative overhaul was completed to improve Finnvera's operational flexibility and transparency, set to take effect in 2026 [13]. Outlook - The business outlook for 2026 anticipates moderate growth in the Finnish economy, with expectations for increased demand for domestic financing and export credit guarantees [34][35]. - Finnvera aims to support growth in emerging markets and enhance financing for innovative and scalable start-ups [37][40].

Group 1: Market Overview - The Straits Times Index is at record highs, leading to mixed emotions among investors, including anxiety about potential crashes and fear of missing out on further gains [1] - High stock prices often reflect strong underlying business fundamentals, driven by sustained earnings growth, improved sentiment, or structural tailwinds [2] Group 2: Company Analysis - OCBC - Overseas-Chinese Banking Corporation Limited (OCBC) shares are trading above S$21, driven by better-than-expected earnings for the quarter ending September 30, 2025, marking five-quarter highs [3] - The earnings rebound is supported by strong contributions from its insurance arm, Great Eastern, and a robust wealth management segment [3][4] - OCBC maintains financial strength with ample capital buffers and low loan delinquency rates [4] Group 3: Company Analysis - Singtel - Singapore Telecommunications Limited (Singtel) shares are also at record highs, benefiting from strong earnings and successful execution of its digitalisation strategy [5] - Singtel's forward price-to-earnings (P/E) ratio is approximately 22 times, representing a 20% premium over its five-year historical average [5][6] - The positive investor sentiment towards Singtel's data centres and digitalisation initiatives has contributed to its elevated valuation [6] Group 4: Company Analysis - Seatrium - Seatrium Limited's share price has surged since mid-2024, reflecting a recovery in the offshore marine industry [8] - The company's operating leverage has improved significantly, with gross margin doubling and net margin tripling in the first half of 2025 [8] - Seatrium's operations are sensitive to global economic conditions, and while profitability has increased, it may reverse if the economy weakens [9] Group 5: Investment Strategy - Investors should assess whether the business is performing well and growing earnings before making buy or sell decisions at high prices [10] - Valuations should be compared to long-term fundamentals to determine if they are reasonable [10] - Consideration of portfolio concentration is important; if a position has become significant, partial selling may be prudent to mitigate risk [10][11]

Core Insights - Crédit Agricole Group reported strong financial results for 2025, with revenues of €39,558 million, up 3.9% year-on-year, and net income of €8,754 million, an increase of 1.3% compared to 2024 [1][34][33] - The company plans to increase its dividend to €1.13 per share, reflecting a 3% increase from 2024 [2] - The ACT 2028 Strategic Plan is on track, with a focus on growth across all business lines and a strong emphasis on digitalization and international expansion [3][7] Financial Performance - Revenues for Crédit Agricole S.A. reached €28,079 million, a 3.3% increase from 2024, while operating expenses rose by 4.9% to €15,628 million [1][54] - The cost/income ratio for Crédit Agricole S.A. was 55.7%, up 0.9 percentage points from the previous year, indicating a slight increase in operational efficiency [1][54] - The cost of risk increased by 6.6% to €1,973 million, reflecting a cautious approach to credit risk management [1][35] Customer Growth and Market Position - The Group gained 2.1 million new customers in 2025, with significant growth in retail banking, particularly in France [6][10] - On-balance sheet deposits totaled €847 billion, up 1.2% year-on-year, while outstanding loans reached €895 billion, a 1.7% increase [10][41] - The property and casualty insurance equipment rate rose to 44.7%, indicating a growing customer base in insurance products [10][41] Business Line Performance - The Asset Management division saw net inflows of €21 billion in the fourth quarter, driven by strong performance in both passive and active management [12][64] - Insurance revenues reached €13.1 billion in the fourth quarter, up 20.4% year-on-year, contributing to a record annual revenue of €52.4 billion [59] - Corporate and Investment Banking reported record revenues for both the quarter and the full year, benefiting from strong capital markets activity [14][5] Strategic Initiatives and Future Outlook - Crédit Agricole is set to launch several strategic initiatives in 2026, including a digital savings platform in Germany and enhanced offerings for young customers [16][20] - The Group aims to capture 8 million new customers by 2028, positioning itself as a leading bank for young people and expanding its market share in Europe [19][21] - Continued investment in energy transition financing is a priority, with low-carbon financing exposure increasing significantly [24][25]

Core Insights - Tornator achieved significant growth in 2025, with revenue reaching EUR 232.2 million, a 9% increase from the previous year, driven by strong timber sales and effective planning [1][5][14] - The company’s forest assets exceeded 800,000 hectares, with a fair value of EUR 3.8 billion, reflecting strategic acquisitions and positive market conditions [2][29][30] Financial Performance - Adjusted operating profit reached a record EUR 168.4 million, while net profit was EUR 114.4 million, both showing substantial increases from the previous year [2][21] - Operating profit at fair value was EUR 298.4 million, with a net profit of EUR 217.2 million, indicating strong operational performance despite external challenges [2][16] - The equity ratio remained robust at 58.4%, and the balance sheet surpassed EUR 4 billion, highlighting financial stability [2][30] Strategic Developments - Tornator acquired over 35,000 hectares of new forest assets in Finland, reinforcing its position as the largest private forest owner in the country [3][6] - The company executed a debt financing arrangement to secure refinancing for a maturing bond and enhance growth investment capacity [3][30] - A strategic partnership with Stora Enso was deepened, ensuring a stable supply of timber and collaborative development in silviculture services [9][10] Sustainability and Innovation - Tornator advanced its climate and biodiversity programs, launching initiatives aimed at enhancing environmental stewardship [3][32] - Digitalization and AI have become integral to Tornator's operations, improving decision-making and operational efficiency [12] - The company transitioned to its own PEFC certification, enhancing its commitment to sustainability and operational quality [13][56] Future Vision - Tornator aims to expand its forest area to one million hectares by 2035, with a revenue target exceeding EUR 400 million while maintaining strong profitability [8] - The company plans to enhance land lease income and develop renewable energy solutions, including wind and solar projects [8][30]

Core Insights - Evergreen Marine has upgraded its fleet to Inmarsat's NexusWave bonded connectivity solution, enhancing crew experience and accelerating digitalisation [1][2][3] Group 1: Company Developments - Evergreen Marine is the first Taiwanese operator to implement the NexusWave solution, reinforcing its long-standing partnership with Inmarsat Maritime [1] - The upgrade to NexusWave introduces bonded, multi-network connectivity, providing fast speed, unlimited data, and always-on performance for crew and operations [2] - The solution is designed to enhance crew welfare, strengthen cybersecurity, and support operational excellence [3] Group 2: Technological Advancements - NexusWave leverages the ViaSat-3 ultra-high-capacity network, enabling scalable platforms for predictive analytics and real-time monitoring across the fleet [2] - The solution is secure-by-design and engineered to scale with demand, aligning with Evergreen's growth plans [2][3] - The transition to NexusWave is part of Evergreen's 'Evergreen IT' modernisation programme, aimed at continuous innovation for customers [1][3]