Market Snapshot
Singapore stocks opened higher on Monday. STI rose 0.2%, CapitaLandInvest rose 0.7%; SGX fell 0.4%; SingPost rose 1%; NIO fell 0.2%.
Stocks to Watch
CapitaLandInvest: Its wholly owned lodging business unit, Ascott, on Monday said it expects to open 28 properties across South-east Asia in 2024. This comes amid robust growth prospects in the region, with the group expecting tourist arrivals to achieve pre-pandemic levels by the end of this year. Shares of CLI ended Friday 3.9 per cent or S$0.12 lower at S$2.93.
SGX: The bourse on Monday announced the appointment of Daniel Koh as the new chief financial officer (CFO). He will begin serving as CFO-designate from Oct 1, before transitioning into his official role from Dec 1. Koh succeeds current CFO Ng Yao Loong who is taking on the position of head of equities. Shares of SGX closed on Friday S$0.11 or 1 per cent lower at S$11.25.
Bukit Sembawang: The property development and investment group said on Sunday that its Upper Bukit Timah project, 8@BT, sold 53 per cent or 83 of its 158 units over its launch weekend, at an average selling price of S$2,719 per square foot. The counter closed down by 0.5 per cent or S$0.02 at S$3.8 on Friday, before the news.
SG Local News
Singapore Listcos Must Report Direct and Indirect Greenhouse Gas Emissions from FY2025
Singapore-listed companies must start reporting their Scope 1 and Scope 2 greenhouse gas (GHG) emissions from the 2025 financial year, according to an enhanced sustainability reporting regime announced by the Singapore Exchange Regulation (SGX RegCo).
Scope 1 covers an entity’s direct emissions; Scope 2 covers indirect emissions from the generation of the electricity purchased to power a company’s operations.
SGX RegCo on Monday (Sep 23) said it will start adopting the latest standards developed by the International Sustainability Standards Board (ISSB), a global accounting standards body, into its sustainability-reporting regime.
EMA Gives Nod to Sembcorp’s Plan to Acquire 30% Interest in Senoko Energy
The Energy Market Authority (EMA) has reviewed and has no objections to SEMBCORP INDUSTRIES LTD’ proposed acquisition of 30% interest in Senoko Energy held by TWMB Holdings, a wholly-owned subsidiary of ENGIE Global Development.
This takes into consideration the commitments proposed by Sembcorp to adhere to and ensure fair market competition, the company says in a filing.
Car Loans in S’Pore up Amid EV Boost; Loan Rates Unlikely to Fall
More car loans have been given out here in 2024, including those for electric vehicles (EVs), which have surged in numbers in recent years.
At the same time, banks and finance companies told The Straits Times there are no signs of borrowers struggling to meet monthly repayments for their car loans.
Such loans, however, are unlikely to get any cheaper in the short term despite the sizeable interest rate cut from the United States Federal Reserve.
The latest Department of Statistics data showed that car loan balances reached $10.2 billion in the second quarter of 2024, up 3.8 per cent on the same period in 2023.
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