Market Snapshot
Singapore stocks opened lower on Friday. STI fell 0.11%; Keppel rose 0.46%; Singtel fell 0.35%; SIA fell 0.14%; OCBC bank fell 0.26%.
Stocks to Watch
THE following companies saw new developments that may affect trading of their securities on Friday (Jul 5):
$Ho Bee Land(H13.SI)$: The real estate group has priced S$160 million in fixed rate green notes due 2029 at 4.35 per cent. Net proceeds from the issuance will be used to fund or refinance eligible green projects. Shares of Ho Bee Land closed flat at S$1.86 on Thursday.
$IReit Global(UD1U.SI)$: The real estate investment trust’s manager appointed Peter Viens as its new chief executive, following the departure of existing CEO Louis d’Estienne d’Orves. On Thursday, it also said that it will pick a Europe-based chief investment officer, who will assist the CEO in overseeing the investment and asset management functions for IReit. Units of IReit closed flat at S$0.285 before the news.
$Centurion(OU8.SI)$: A joint venture of the dormitory operator has leased 50 residential flats in a property in Hong Kong from Abercorn Investments, and plans to renovate these units into accommodation for workers. The transaction is not expected to have a material impact on the company’s consolidated net tangible assets or earnings per share for the fiscal year ending Dec 31, it said on Thursday. Shares of Centurion closed flat at S$0.585, before the announcement.
$Isetan Singapore(I15.SI)$: The Japanese retailer said the court has granted leave to convene a scheme meeting, following its announcement that the Singapore Exchange has no objection to the delisting proposed in April, subject to several conditions. Shares of Isetan closed 0.1 per cent or S$0.01 higher at S$7.11 on Thursday, before the news.
$Dasin Retail Trust(CEDU.SI)$: Its trustee-manager said on Thursday that it has received a letter of demand from GSUM-Titanland Capital for S$214,000, allegedly outstanding from a financial consultancy agreement. Units of Dasin Retail Trust closed at S$0.021, down S$0.001 or 4.6 per cent, before the announcement.
SG Local News
About one in three new cars sold in Singapore from Jan to May is an EV
ABOUT one in three new cars registered in Singapore from January to May was an electric vehicle (EV) – nearly double the 2023 figure of 18.1 per cent.
Financial incentives for buying cleaner energy vehicles, a grant to support the installation of chargers in non-landed private residences, and a law to ensure that chargers are safe, reliable and accessible have resulted in EV adoption increasing significantly, Transport Minister Chee Hong Tat said on Jul 2.
At Least 2,000 New Private Homes to Come on Stream from Projects Set for Q3 Launch
SOME 2,300 new private homes are expected to be marketed in the third quarter of 2024, with up to nine project launches said to be lined up between now and end-September.
Coming up this weekend is the preview of Kassia, a freehold 276-unit condominium project at Flora Drive in the Upper Changi region, with prices starting from S$883,000.
Trustee-manager of Dasin Retail Trust gets letter of demand for sum of S$214,000
THE trustee-manager of Dasin Retail Trust said on Thursday (Jul 10) that it has received a letter of demand from GSUM-Titanland Capital for S$214,000, allegedly outstanding from a financial consultancy agreement.
The agreement between the trustee-manager and GSUM-Titanland was inked when GSUM-Titanland became Dasin’s financial advisor for the restructuring of its syndicated loans amounting to an estimated 4.5 billion yuan (S$910,000).
Latest Singapore 6-month T-bill offers 3.7% cut-off yield
THE cut-off yield on the latest Singapore six-month Treasury bill (T-bill) fell to 3.7 per cent, according to auction results released by the Monetary Authority of Singapore on Thursday (Jul 4).
This is down from the 3.74 per cent offered in the previous six-month auction, which closed on Jun 20.
Demand rose slightly in the latest tranche. The auction received a total of S$15.6 billion in applications for the S$6.5 billion on offer, representing a bid-to-cover ratio of 2.4.
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