Market Snapshot
Singapore stocks opened higher on Thursday. STI rose 0.56%; DBS Group rose 1.18%; NIO fell 1.58%.
Stocks to Watch
THE following companies saw new developments that may affect trading of their securities on Thursday (Oct 17):
Sembcorp: The group’s renewables subsidiary Sembcorp Green Infra bagged a contract for a 150 megawatt wind-solar hybrid power project in India from Solar Energy Corporation of India. The award of the project is not expected to have a material impact on the group’s earnings per share for fiscal year 2024, said Sembcorp on Thursday. The counter closed on Wednesday S$0.03 or 0.6 per cent higher at S$5.50.
Parkway Life Real Estate Investment Trust (Parkway Life Reit): Its third-quarter distribution per unit rose 2.8 per cent to S$0.113 from S$0.1099 in the year-ago period. Declines in net property income and gross revenue, which came amid the depreciation of the yen, were offset by contributions from a nursing home acquired in August 2024. The counter closed flat at S$4.02 on Wednesday, before the news.
Yeo Hiap Seng: The beverage company on Thursday said it further acquired 21.1 million shares in Vitasoy for HK$133.8 million (S$22.5 million), bringing its existing interest in the Hong Kong-listed beverage manufacturer to 4 per cent. This was since Oct 9, when the group initially announced it would raise its stake in Vitasoy to 2.04 per cent with the acquisition of 17.6 million shares for HKS$103.6 million. Shares of Yeo Hiap Seng ended Wednesday flat at S$0.565.
SG Local News
Singapore Key Exports Extend Growth with 2.7% Rise in September
Singapore’s key exports continued its upward climb in September as both electronics and non-electronics shipments rose.
Non-oil domestic exports (NODX) grew 2.7 per cent year on year for in September, extending the 10.7 per cent jump in the previous month, data from Enterprise Singapore (EnterpriseSG) showed on Thursday (Oct 17).
On a seasonally adjusted monthly basis, NODX rose 1.1 per cent – a turnaround from the previous month’s 4.7 per cent decline – to reach S$14.9 billion in September. This was higher than the previous month’s S$14.7 billion and the average level a year ago.
Prime and Plus Flat Buyers to Give up 6-9% of Resale Price
Buyers of the new Plus and Prime flats will have between 6 and 9 per cent of their resale price (or valuation) clawed back when they sell the flats, the Housing and Development Board (HDB) said on Wednesday (Oct 16).
The first batch of Prime flats under the HDB’s new Build-To-Order (BTO) framework faces a subsidy recovery rate of 9 per cent. The 312 Crawford Heights flats offered in the popular Kallang-Whampoa area are priced from S$390,000 for a three-room flat, while a four-room unit will cost from S$568,000.
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