Daily Brief Singapore: Grab Holdings , Capitaland Integrated Commercial Trust, Mitsubishi UFJ Financial (MUFG) and more

In today’s briefing:

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,

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 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.

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