SGX enjoys positive week with stock gains, flurry of IPO news

SIA and SingPost climb; bourse sees uplift in trading with small, mid-cap stocks rising

- Alyssa Woo

Shares of Singapore Airlines (SIA) recovered last week, rising by more than 3 per cent to close at $6.93.

Prices of oil, from which jet fuel is derived, fell on June 24 after US President Donald Trump announced on social media "a complete and total" ceasefire between Israel and Iran.

In its annual report released on June 25, SIA revealed that its chief executive Goh Choon Phong's pay dropped by 13.5 per cent to $7.01 million for the financial year ended March 31, even as the airline's earnings reached a record high of $2.8 billion.

Mr Goh's total remuneration package for the period comprised $1.46 million in basic salary, $3.12 million in bonuses and $2.29 million in shares, with the rest of more than $145,000 in benefits.

In comparison, Mr Goh had drawn a salary of $8.1 million for the financial year 2023-2024.

Singapore Post (SingPost) shares jumped by 9.7 per cent last week, closing on June 27 at 62 cents.

Temasek on June 25 disclosed in an exchange filing that its deemed interest in SingPost - held through DBS Bank - had risen from 21.99 per cent to 22 per cent after DBS purchased 200,000 SingPost shares on June 19.

According to SingPost's annual report released on June 24, former group CEO Vincent Phang received a prorated salary of $616,400 for the financial year ended March 31. He was let go by SingPost on Dec 21, 2024, over the mishandling of a whistle-blower complaint.

Mr Phang's payout comprised $570,600 in fixed salary, $10,500 in Central Provident Fund contributions as well as benefits.

The company's benefits generally include medical and flexible allowances, as well as other perks such as a car allowance and long service awards, where applicable.

SGX GAINS AS LOCAL STOCKS CLIMB

Shares of the Singapore Exchange (SGX) rose 7.2 per cent last week, closing on June 27 at a five-year high of $14.72.