SG Morning Call | Singapore Stocks Open Flat; Olam Group Down 2.8%; Frasers Property Down 2%; OUEREIT, AEM SGD Down over 1%; IFast, DBS Down Slightly-To The Moon - Tiger Brokers Online Investing Community

SG Morning Call | Singapore Stocks Open Flat; Olam Group Down 2.8%; Frasers Property Down 2%; OUEREIT, AEM SGD Down over 1%; IFast, DBS Down Slightly

TigerNews SG09:03

Market Snapshot

Singapore stocks opened flat on Tuesday. Olam Group down 2.8%; Frasers Property down 2%; OUEREIT, AEM SGD down over 1%; iFast, DBS down slightly.

Stocks in Focus

Frasers Property: Its wholly owned subsidiary Frasers Property Treasury on Tuesday proposed issuing S$150 million of fixed rate notes under its S$5 billion multicurrency debt issuance programme. OCBC has been appointed as the joint lead manager and active bookrunner and CIMB will be the joint lead manager and passive bookrunner. The interest rate for the notes is fixed at 3.5 per cent per annum payable semi-annually in arrear. Shares of Frasers Property ended flat at S$1.03 on Monday.

UltraGreen.ai: The company’s CEO Ravinder Sajwan said on Monday that it will calibrate its commercial response to new US competitors based on their pricing, distribution approach and customer proposition. However, it also said it is “premature to speculate” on the competitors’ potential market impact or specific actions it may take in response. Shares of UltraGreen.ai rose 13.4 per cent or US$0.085 to close at US$0.72 on Monday.

SG Local News

Core Inflation Climbs to 2% in July; Electricity Prices Rise Sharply

Core and headline inflation picked up in July, with the core figure rising largely due to electricity and gas, services and food segments, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said on Monday (Aug 24).

Core inflation, which excludes accommodation and private transport, rose to 2 per cent in July from June’s 1.6 per cent. Still, it was below the median 2.2 per cent predicted in Bloomberg’s poll of private sector economists.

Higher Income Ceiling for Executive Condos Could Boost Buyer Demand, Developer Confidence

A higher income ceiling for executive condominiums (ECs) could lift demand for future projects as it widens the pool of eligible buyers, and support developer confidence in upcoming land tenders.

In particular, raising the threshold for eligibility to buy new ECs will give EC buyers access to more financing, due to a lending limit tied to monthly income for this housing segment.

Prime Minister Lawrence Wong announced on Sunday (Aug 23) that the monthly household income ceiling for ECs will be raised from S$16,000 to S$18,000.

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