SGX:G92

OCBC Adjusts China Aviation Oil (Singapore)'s Price Target to SG$1.95 from SG$2.48, Keeps at Buy

Singapore Shares Remain in Red, Track Regional Loss; China Aviation Oil (Singapore) Down 10

Singapore shares remained rooted to the red zone on Thursday, tracking broader regional losses, despite easing of concerns over a potential interest rate hike by the US Federal ReserveThe Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,667.09 and 5,732.39 throughout the day. It ended the session at 5,720.05, down 0.70 points or 0.01% compared to Wednesday's close.On the corporate front, shares of China Aviation Oil (Singapore) (SGX:G92) slumped nearly 10% at the close as its attributable profit to owners fell by 18% during the first half of the year to $41.1 million from $50.0 million a year earlier.Singapore Telecommunications or Singtel (SGX:Z74) closed nearly 1% lower as it posted a 72% year-over-year decrease in net profit for the fiscal first quarter to SG$818 million from SG$2.88 billion.Meanwhile, CapitaLand Investment (SGX:9CI) shares were up nearly 1% at the close even as it recorded a 14% gain in profit attributable to equity holders in the first half of 2026 to SG$327 million from SG$287 million a year prior.

China Aviation Oil (Singapore) H1 Attributable Profit Slides 18%; Shares Plunge 13%

China Aviation Oil (Singapore) (SGX:G92) attributable profit to owners fell by 18% during the first half of the year to $41.1 million from $50.0 million a year earlier, according to a Thursday filing with the Singapore Exchange.Earnings per share came in at $0.0478 compared with $0.0582 in the year-ago period.Revenue declined 9% year over year to $7.81 billion from $8.56 billion.Shares of the jet fuel importer sank over 13% in Thursday trading.

Singapore Shares End Week Higher On Optimism Over AI Demand

Singapore shares closed the week on a high, ending Friday in the green zone on renewed optimism over AI driven demand.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,412.51 and 5,472.10 throughout the day. It ended the session at 5,469.29, up 35.41 points or 0.7% compared to Thursday's close.On the corporate front, shares of Foundation Healthcare (SGX:FHH) closed nearly 3% lower as its stabilizing manager, UBS AG, purchased 4.5 million shares in the company on July 9 between the price range of SG$0.705 and SG$0.735 per share.Marco Polo Marine's (SGX:5LY) shares closed over 2% higher as its subsidiary, PKR Offshore, signed a framework agreement with Siemens Gamesa Renewable Energy, to deploy two commissioning service operation vessels.Meanwhile, shares of China Aviation Oil (Singapore) (SGX:G92) closed over 2% higher as its controlling shareholder's restructuring was concluded, with China Petrochemical Corp. now holding 100% of China National Aviation Fuel (CNAF).

China Aviation Oil (Singapore) Controlling Shareholder Completes Restructuring

China Aviation Oil (Singapore) (SGX:G92) said its controlling shareholder's restructuring was concluded, with China Petrochemical Corp. now holding 100% of China National Aviation Fuel (CNAF), according to a Thursday filing with the Singapore Exchange.Shares of the physical jet fuel trader were up over 2% in Friday trading.The restructuring was completed after the State-Owned Assets Supervision and Administration Commission transferred the entire CNAF stake to China Petrochemical.CNAF retains its 51.3% stake in the company, with China Petrochemical now an indirect controlling shareholder of China Aviation Oil.