Singapore Shares Marginally Lower; KIT Falls 2%; Lum Chang Rises 1.7%; Trendlines Jumps 6%

MT Newswires2024-08-28

Singapore's stock market closed marginally higher on Wednesday, despite gains in the global markets.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,373.19 and 3,400.45 throughout the day. It ended the session at 3,391.03, down 7.44 points or 0.22% compared to Tuesday's close.

In company news, shares of Koda plunged over 9% after the company trimmed its loss attributable to owners to $2.4 million in the fiscal second half ended June 30, from $3.1 million a year earlier.

Trendlines was up nearly 6% after the company approved investments totaling $1.5 million from controlling shareholder Librae Holdings and $992,000 from Trendlines itself in its portfolio companies.

Meanwhile, Lum Chang was up nearly 2% after it booked a profit attributable to equity holders of SG$3.7 million for the six months ended June 30, rebounding from an attributable loss of SG$29.3 million a year ago.

Keppel Infrastructure Trust fell 2.15%. It has issued 456.6 million new units at an issue price of S$0.438 apiece on Wednesday, representing the highest end of the price range indicated when it proposed its equity fundraising the day before. The trustee-manager said the placement was about 2.5 times subscribed and will raise about S$200 million.

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