Singapore Shares Muted as Oil Prices Rise Following Iran, Israel Conflict; Beverly JCG Slumps 13%

MT Newswires06-16

Singapore shares closed lower on Monday as oil prices extended gains on the back of escalating tensions between Iran and Israel, with regional indices booking gains.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,891.82 and 3,915.20 throughout the day. It ended the session at 3,908.46, down 2.96 points or 0.08% compared to Friday's close.

In company news, shares of Beverly JCG (SGX:9QX) slumped over 13% at the close with the company entering into a sale and purchase agreement with KL Wellness City to acquire the second floor of Tower A of Nobel Healthcare Park, Malaysia, for 41.7 million ringgit.

Sembcorp Industries (SGX:U96) was up nearly 2% with the company's wholly owned subsidiary, Sembcorp Utilities, completing the acquisition of an additional 28.6% stake in Lion Power (2008) for S$72 million.

Meanwhile, shares of Thakral (SGX:AWI) were down nearly 1% at the close following news that its associated company, GemLife, has signed an underwriting agreement for a proposed listing on the Australian Securities Exchange.

STI fell 0.1%; ST Engineering, Keppel, Sembcorp up 2%; YZJ Shipbldg rose 1%; Beverly JCG fell 13%; SIA, DBS fell 1%.

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