Fattycat

$Singtel(Z74.SG)

SingTel has released its 1Q results with reported net profit down 72% yesterday (13 Aug 2026).

The heading looks scary but if you into details the sharp drop is almost entirely because last year included S$2.2 billion in one‑off exceptional gains.

Excluding those, underlying net profit actually rose 21% year‑on‑year to S$831 million, beating market expectations.

Operating performance was solid across most regions:

• 🌏 Regional associates: earnings up 16.1% to S$543 million, led by Bharti Airtel and AIS

• 🇦🇺 Optus: operating earnings up 14% to A$152 million

• 💻 NCS: operating earnings jumped 29% to S$102 million

• 🏢 Digital InfraCo: earnings up 10%

The main weak spot is SingTel’s Singapore business, where revenue fell 3.1% amid intense competition and lower mobile ARPU.

SingTel’s overseas track record is mixed — big wins in Airtel, Telkomsel, AIS and Globe, but costly missteps with Optus, Amobee and HOOQ.

The real question is whether today’s portfolio generates enough recurring earnings to justify the risks and valuation.

On the evidence of these results, the answer looks increasingly positive.

Read the infographic for a full breakdown of SingTel’s past investments, value creation, impairments and capital recycling.

It is amazing. Those investment are not white elephants and heavy burden to SingTel as compare to SIA’s overseas investment. They do contribute significantly to SingTel.

Not for financial advice. Do your own DD if you want to invest in SingTel 😉.

$JD-SW(09618.HK)$JD.com(JD.US)

🚀 JD.com Q2 2026: Revenue Slips, But Profits Soar in Q2 2026!

Top‑line revenue came in at RMB 346.4 billion (down 2.9% year‑on‑year )

JD.com has also delivered impressive bottom‑line growth and tight operational discipline.

Key Highlights:

✅ Profit Surge:

Non‑GAAP net income jumped +20.3% YoY to RMB 8.9 billion; non‑GAAP diluted EPS hit RMB 6.29

✅ Retail & Logistics Shine:

JD Retail posted a record 4.6% operating margin during the promotional season

JD Logistics revenue grew +24.3% YoY

✅ Cost Control:

Marketing expenses fell ‑24.8% YoY, and losses from new ventures narrowed sharply

✅ Strong Cash Flow & Returns:

Free cash flow rose +44.6% YoY to RMB 31.8 billion; US$1.0 billion in shares repurchased in H1 2026

📊 Dive into the full story in the infographic above!

$SIA(C6L.SG)

I was reading an article from Mothership about Singapore Airlines recording nearly S$945 million in share of losses from its Air India investment in less than two years after taking a 25% stake in November 2024.

It prompted me to look back at SIA’s long history of overseas airline investments. 🤔

SIA is world‑famous for its five‑star service however its has track record of investing in foreign carriers which tells a much tougher story: a string of write‑offs, dilution and total wipeouts.

On paper, buying minority stakes in other airlines looked like a smart way to gain market access without the full cost of outright ownership.

In practice, it turned into a costly lesson in value destruction. Across four major deals over two decades, the pattern was remarkably consistent:

* 🇬🇧 Virgin Atlantic: Bought 49% for £600 million (~US$963M) in 1999; sold to Delta in 2012 for just US$360 million. Loss: ~S$1.1–1.2 billion (cash loss after write-downs).

* 🇳🇿 Air New Zealand: Bought a 25% stake for NZ426 million (~S$360–370M) in 2000, which was heavily diluted following the 2001 collapse of Ansett Australia. Exited in 2004 for NZ61.7M (~S70.5M). Loss: ~S$360–370 million.

* 🇦🇺 Virgin Australia: Built up a ~20% stake (totaling over A850M), which was wiped down to zero when the airline entered administration in 2020. **Loss: ~S500 million**.

* 🇹🇭 NokScoot: The 49% joint venture was liquidated in 2020, wiping out ~S$40M+ in initial equity and triggering a S$123.6 million one‑off impairment charge.

Add up those past four deals alone: ~S$2.4billion invested and ~S$1.9 billion+ lost 💸.

And now, the Air India merger has added another ~S$945 million share of losses in FY2025/26.

The key lesson: SIA succeeds when it maintains operational control ,think Scoot or SIA Engineering. It tends to struggle when it holds passive minority stakes.

So the big question: will Air India finally break this long‑standing pattern?

Not financial advice. Do your own DD.

$SpaceX(SPCX.US)

SpaceX shares jumped 11% and the rally is not just about launches, it is about the company’s bold push into AI leadership.

Wall Street is starting to see SpaceX as a vertically integrated tech giant and not just an aerospace firm.

What is driving the momentum now?

• Grok 4.6 launched: A flagship AI model that matches top rivals at a lower cost

• Grok Bot beta: New “AI teammates” capable of handling complex and multi-step workflows

• $60B Cursor acquisition: A game‑changing move to boost enterprise AI capabilities

Morgan Stanley highlighted SpaceX’s unique advantage. It has a combining Starlink’s global connectivity with proprietary data infrastructure to create a powerful competitive moat.

Elon Musk even projects AI revenue could surpass all other revenue streams as soon as next month! 🙄

Please refer to the infographic for the full story on how SpaceX is reshaping the AI landscape!

$TENCENT(00700.HK)

Tencent Q2 2026: Steady Growth, Big AI Investments

Tencent has just released its Q2 2026 results. Solid revenue growth but its heavy strategic spending is weighing on profits.

Here is the simple breakdown:

💰 Top-Line Beat

• Revenue: RMB 204.8 billion (+11% YoY), slightly beat market expectations ✅

• Net Profit: RMB 56.0 billion, up just 0.7% YoY and fell short of forecasts 📉

🎮 Gaming & Ads Shine

• Domestic Games: RMB 47.3 billion (+17% YoY) , powered by hits like Delta Force and Valorant 🎯

• Advertising: RMB 43.6 billion (+22% YoY), AI-powered ad targeting is paying off big! 🤖

💻 Massive AI Build-Out

• Capex jumped 65% quarter-on-quarter to RMB 52.8 billion and Tencent is ramping up its computing infrastructure for its AI models 🚀

💎 The Verdict:

Tencent’s core businesses are growing strongly. Every extra dollar is going straight into AI now.

Revenue beats and profit lags for the price of building its future. Be patience.

For more information, please reference to the below infographic. Spend on AI infrastructure to stay ahead.😁

$HANG LUNG PPT(00101.HK)

Hang Lung Properties: Undervalued Hidden Gem?🤔

Hang Lung Properties is looking like a deep-value pick right now.

At approximately HK$7.45, it trades at just 0.28× book value. Current book value stands at HK$27.33 per share. That is a huge discount!

✅ Solid finances: HK$228B in assets, HK$134.7B equity, gearing at 32.7%.

✅ Prime portfolio: Top retail malls in Hong Kong plus key mainland cities at Shanghai, Shenyang, Kunming, Wuxi and Dalian.

✅ Healthy yield: ~6–7% dividend. Great income while you are waiting for recovery.

⚠️ Risks to watch: China weak consumption, soft commercial rents, higher rates and further property devaluations could cap gains.

📈 Upside case: If China/Hong Kong consumption and property markets stabilise, this stock could see both better earnings and a big valuation re-rating from these ultra-low levels.

For full details, valuation, finances, portfolio, risks, and upside -> all in the infographic above!

Not financial advice. Do your own research.