City Developments Limited (SGX: C09)

City Developments Limited (CDL), is a real estate company with 163 locations in 29 countries and regions, boasting a diversified real estate portfolio including residential, office, hotel, serviced apartments, retail malls, and integrated developments.

The group reported excellent performance in the first quarter of 2024, with sales revenue reaching SGD 736.8 million, a significant improvement over the SGD 213.2 million in sales recorded in the first quarter of 2023. This growth was attributed to the launch of Lumina Grand, a collection of 512 luxury apartments in Bukit Wukit Badu.

CDL has also sold a substantial portion of its residential inventory in China. Eling Palace is fully sold, with Hougang Central and Hongqiao Royal Lake enjoying sales rates of 92% and 91% respectively. The real estate giant plans to launch two new residential projects in the second half of 2024, Union Square Residences (366 units) and Champions Way (348 units). In line with the group's revitalization strategy, it will invest SGD 50 million in asset enhancement initiatives (AEI) for City Square Mall, which commenced in the third quarter of last year. The two-phase AEI is expected to be completed by the first half of 2025. Additionally, CDL announced the completion of the acquisition of Hilton Paris Opera, contributing to the expansion of its hotel asset portfolio.

Genting Singapore (SGX: G13)

Genting Singapore owns and operates Resorts World Sentosa (RWS), an integrated resort on Sentosa Island, featuring six hotels with approximately 1,600 rooms, a casino, Universal Studios theme park, and numerous dining, retail, and entertainment outlets.

With the reopening of borders in North Asia, there has been a strong recovery in the tourism industry, leading to robust earnings reported for the first quarter of 2024. Revenue surged by 62% year-on-year to SGD 784.4 million, while net profit soared by 92% year-on-year to SGD 247.4 million.

In early May, Resorts World Sentosa signed a memorandum of understanding with Sentosa Development Corporation, DBS Bank (SGX: D05), and the Singapore Tourism Board to establish a collaborative Sentosa Regional Partnership. Later this year, the premiere of "Harry Potter: The Magic of the Wizarding World" will further enhance the appeal of this integrated resort. Additionally, construction progress is on track for the new Maritime Experiential Museum and S.E.A. Aquarium, with plans for phased openings starting from the first quarter of 2025.

Singtel (SGX: Z74)

Singtel, Singapore's largest telecommunications company, reported excellent performance for the financial year 2024 ending March 31, 2024.

During the period, underlying net profit grew by 10% year-on-year to SGD 2.3 billion, and the company increased its dividend for FY2024 by 52% to SGD 0.15. Management will focus on enhancing the core performance of Singtel and its Australian subsidiary Optus. Additionally, the telco plans to expand its growth engine Nxera, its data center business, and develop its Paragon-X enterprise platform.

In addition to these initiatives, Singtel has identified approximately SGD 6 billion in assets, which will help the group sustain its new value realization dividend. Singtel has launched ST28, a growth plan aimed at enhancing customer experience and delivering sustainable value to shareholders. This new long-term strategy will help the group optimize its core business, expand its growth engines, and deploy capital expenditures funded by external partners. Over time, management aims to deliver growth in profits and dividends to shareholders.

Singapore Aerospace Engineering (SGX: S63)

Singapore Technologies Engineering (STE), is a technology, defense, and engineering group that serves customers in the aerospace, smart city, and public safety sectors.

Revenue in 2023 grew by 11.8% year-on-year to SGD 10.1 billion, with operating profit increasing by 24.4% year-on-year to SGD 914.7 million. After deducting one-time expenses, underlying net profit soared by 24% to SGD 610 million. This momentum continued into the first quarter of 2024, with the group's revenue increasing by 18% compared to the same period last year, reaching SGD 2.7 billion. STE secured new contracts worth SGD 30 billion in the first quarter of 2024, bringing its order book to SGD 27.7 billion as of March 31, 2024. It is expected that approximately SGD 6.5 billion of these contracts will be delivered in the remaining time of 2024. Management is confident in the development of the company's digital business, expecting it to exceed SGD 50 billion by 2026, with a focus on cloud, artificial intelligence, and cybersecurity.