In today’s briefing:
- Grab Holdings (GRAB US) – Product-Led Sequential Growth Ahead
- SIA Leads Buyback Consideration, Multi-Chem CEO Trims 69% Stake
- SGX FX Welcomes Mitsubishi UFJ Financial Group as Its Newest Liquidity Provider
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Grab Holdings (GRAB US) – Product-Led Sequential Growth Ahead
- Grab Holdings booked record GMV, revenue, FCF, MTUs, and EBITDA in 2Q2024 and flagged an optimistic outlook for 2H2024, with positive adjusted FCF expected to remain positive for FY2024.
- The company continues to focus on its product-led and technology-driven initiatives to drive growth and profitability through mass-market and high-value products such as Grab Unlimited, advance bookings, and group bookings.
- Concerns over competition from TikTok look overblown, with Grab already active on social media. Management expects positive sequential growth for the next 2Qs and a stronger growth outlook in FY2025,
SIA Leads Buyback Consideration, Multi-Chem CEO Trims 69% Stake
- Institutions were net buyers of Singapore stocks over the four trading sessions spanning Thursday August 8 through to Wednesday, August 14 close, with S$31.5 million of net institutional inflow.
- Leading the net institutional inflow over the four sessions were Singapore Exchange, Singapore Telecommunications, Yangzijiang Shipbuilding (Holdings), Jardine Cycle & Carriage, CapitaLand Ascendas REIT, Sembcorp Industries, Keppel DC REIT, Sheng Siong Group, ComfortDelGro Corporation, and CapitaLand Integrated Commercial Trust.
- On August 12, IFS Capital Executive Director & Group CEO Randy Sim Cheng Leong acquired 1.1 million shares at an average price of S$0.11 per share.
SGX FX Welcomes Mitsubishi UFJ Financial Group as Its Newest Liquidity Provider
- SGX FX has added Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world’s foremost financial institutions, to its eFX trading solutions platform for global buyside institutions as a liquidity provider.
- Kenneth Ho, Global Head of eFX Sales at MUFG, said, “The partnership with SGX FX aligns with MUFG’s strategy of digitalisation and expanding our footprint in the financial institutional space.
- About Mitsubishi UFJ Financial Group (MUFG) Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups.