8 February 2023
Market View: StarHub’s net profit dropped 98.4% for 2H2022, F&N net profits down 28.8%, Japan’s PM Fumio Kishida reviving talks to raise wages, US Fed Chair Jerome Powell’s speech before The Economic Club of Washington DC
Singapore shares slid in early trade today following gains in US and Europe markets.
The Straits Times Index fell 0.1 per cent to 3,376.24 points in early trade after 47.7 million securities changed hands.
Some notable names seeing developments today included telco operator StarHub, which posted a 98.4 per cent decline in net profit to S$1.3 million for the second half of the year ended Dec 31, 2022, but how far of a concern is this?
Meanwhile, mainboard-listed drinks maker Fraser and Neave posted a 28.8 per cent year-on-year drop in net profit to S$28.6 million for its first quarter, despite higher revenue. Question is - how are the company’s financials looking with the firm noting that it has ”generous debt headroom for acquisitions”?
On Market View, the Drive Time team posed these questions to Matthias Chan, Head of Research at SAC Capital.

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