Positive.

From The Smart Investor.: 2024-07-01 19:30:00

OCBC Ltd (SGX: O39) saw its share price hit an all-time high of S$14.58 recently, up 11.7% YTD. The bank’s net profit rose 5% year on year to a record S$1.98 billion for 1Q 2024. CEO Helen Wong is confident in hitting 2024 targets, including low single-digit loan growth and NIM of 2.2% to 2.25%.

Powermatic Data Systems (SGX: BCY) designs wireless connectivity devices and reported a revenue dip of 9% year on year in 2023. Net profit was impacted by an impairment but excluding it, net profit rose by 5.6% year on year. A total dividend of S$0.10 was declared, with a positive outlook for the sector but inventory reduction due to deferred orders.

Singapore Technologies Engineering (SGX: S63) is a global technology and engineering group with shares up 11.3% YTD. The group reported a revenue jump of 18% year on year for 1Q 2024, with new contracts worth S$3 billion. An interim dividend of S$0.04 was declared and paid, with an order book of S$27.7 billion as of 31 March 2024.

United Overseas Insurance (SGX: U13) saw its share price rise by 13% YTD and hit a 52-week high of S$6.69. The insurer posted a respectable set of earnings for 1Q 2024, with insurance revenue up 6% year on year and profit before tax surging by 67% year on year. Other income soared 91% year on year.



Read more at The Smart Investor.: 4 Singapore Stocks Smashing New 52-Week Highs This Year: Should They Be in Your Portfolio?