In this episode, we dissect DBS's stellar financial performance in 2024, highlighting their record-breaking net profit of $11.4 billion, a remarkable 11% increase from the previous year.

• Analysis of Total income growth of 10%, driven by commercial book net interest margin expansion, record fee income, new highs in treasury customer sales, and a rebound in markets trading income.

Examination of dividend payouts and capital returns:

• Introduction of a quarterly Capital Return dividend for the financial year 2025.
• Board's commitment to manage down excess capital over the next three years.

Discussion of strategic initiatives and employee rewards:

• A one-time bonus to be paid to all staff (excluding senior managers) as a reward for their contribution to the record performance.
• Allocation of SGD 100 million from the year's profits towards DBS's CSR commitment to support vulnerable communities.

In this episode, we delve into Guocoland's recent media release and financial statements for 1H FY25, exploring their dual growth engines: property development and investment.

• Discussing GuocoLand's year-on-year increase in profit attributable to equity holders for 1H FY25.
• Analysing the performance of GuocoLand’s Property Development and Property Investment.
• Residential project sales and rental revenue.

Strategic Investments and Land Acquisitions

• Insights into GuocoLand's land acquisitions and joint ventures in Singapore.
• The focus on sustainable development and green financing.

GuocoLand's Outlook and Core Markets

• Breaking down GuocoLand's strategy for growth opportunities in Singapore, Malaysia and China.
• Reviewing the trends and competitive conditions in the real estate industry.

In this episode, we delve into ICP-LTD's half-year FY 2025 results to explore the company's strategic shift from oil tankers to hospitality.

• Revenue growth: An increase in revenue from continuing operations. The hospitality segment is a primary driver, with improved performance from existing hotels and new openings.
• Profitability: A increase in profit before tax from continuing operations.
• Key Expenses: Discussion of increased administrative expenses. Also, a write-down of intangible assets due to uncertainty regarding future economic benefits.
• Balance Sheet: Analysis of changes in assets and liabilities, including an increase in property, plant, and equipment, and investments in associates and joint ventures. Reclassification of loans and borrowings following a waiver from the bank regarding financial covenant compliance.
• An overview of the hospitality segment's performance, considering increased visitor arrivals in key markets like Japan, South Korea, Singapore and Malaysia, alongside challenges such as macroeconomic headwinds, geopolitical factors, increased hotel openings and inflation-driven cost increases.

Stocks on our radar:

• Strategic focus and outlook for ICP Ltd., including maintaining cost discipline, assessing capital requirements and pursuing strategic growth opportunities.