Market Snapshot
Singapore stocks opened flat on Monday. Nio falls 3%; Singtel drops 1.3%.
Stocks to Watch
THE following companies saw new developments that may affect trading of their securities on Monday (Sep 2):
Nio: The Chinese electric vehicle carmaker on Sunday announced it delivered 20,176 vehicles in August, 4.4 per cent more than the corresponding year-ago period. This marks the fourth straight month in which the company has delivered more than 20,000 cars. Class A ordinary shares of Nio on the Singapore bourse jumped 11.3 per cent to US$4.33 last Friday, ahead of the update.
Sats: The ground handler and in-flight caterer’s subsidiary Worldwide Flight Services Holland is proposing to acquire Menzies World Cargo (Amsterdam), the cargo handling arm of Menzies Aviation. Sats said this will increase Worldwide Flight Services Holland’s warehouse capacity and cargo handling capabilities. Shares of Sats fell 0.3 per cent or S$0.01 to close at S$3.65 on Friday, before the news.
Sembcorp Industries: The group on Monday said its wholly owned subsidiary, Sembcorp Gas, has signed a gas sales agreement with three other companies. This will see Sembcorp Gas importing up to 111 billion British thermal units per day of piped natural gas from Indonesia’s Mako gas fields. Shares of Sembcorp rose 4.5 per cent or S$0.21 to close at S$4.93 on Friday.
SG Local News
Singapore's OCBC Website, Mobile App Resume After Disruption
Singapore lender Oversea-Chinese Banking Corp. said its website and mobile app were working normally after being inaccessible to some users earlier Sunday.
The bank apologized for the disruption, according to a post on its Facebook page. ATM and card services were unaffected, OCBC said.
Another Singapore bank, DBS Group Holdings Ltd. suffered a series of digital banking outages last year and was reprimanded by the central bank.
Singapore’s Youth Embrace Underconsumption Lifestyle as Economic Realities Bite
Singapore Prime Minister Lawrence Wong said he hopes to field more women candidates in the coming General Election.
“Throughout my working life, I have benefited from working with men and women who bring a wider range of perspectives and help contribute to better solutions,” he said in a speech at the People’s Action Party (PAP) Women’s Wing conference on Saturday.
Many Singaporeans Aspire to Eventually Buy Private Homes Despite Money Pressures
At least one of the 5Cs (cash, car, credit card, condominium and country club membership) of the Singaporean dream largely regarded as outdated today still resonates with many people: condominium.
About 73 per cent of Singaporeans are eyeing $1 million to $3 million dream homes despite financial pressures. A third plan to do so in the next three years.
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