Market Snapshot
Singapore stocks opened lower on Wedneday. STI fell 1.68%; CapLand IntCom dropped over 4%; OCBC Bank, DBS Group dropped over 2%.
Stocks to Watch
THE following companies saw new developments that may affect trading of their securities on Wednesday (Sep 4):
$CapitaLand Integrated Commercial Trust(C38U.SI)$ (CICT): The trust will issue 171.7 million new units at an issue price of S$2.04 apiece. The manager on Wednesday said the placement was 3.7 times covered, and will raise about S$350.3 million. Meanwhile, its preferential offering will fetch about S$757.2 million at an issue price of S$2.007 apiece. CICT units finished Monday S$0.01 or 0.5 per cent higher at S$2.13, before the trust requested a trading halt on Tuesday. It will resume trading on Wednesday.
$ComfortDelGro(C52.SI)$ (CDG): The land transport operator’s Australian subsidiary was awarded three bus franchises worth around A$1.6 billion (S$1.4 billion) in Victoria, Australia, over a 10-year term commencing in July 2025. This increases CDG’s market share in Victoria’s public bus business by 30 per cent, said the group on Wednesday. The counter ended Tuesday flat at S$1.41.
SG Local News
Singapore Completes Oil Spill Clean Up Which Hit Sentosa Beach
Singapore completed clean-up operations following an oil spill in mid-June near its resort island Sentosa.
About 800 cleaning personnel and 2,300 volunteers helped remove 3,750 tons of debris, Minister for Sustainability and the Environment Grace Fu said in a post on Facebook on Tuesday.
Swimming has resumed at some beaches and daily water quality tests at the remaining affected beaches will continue, Fu said.
Foreign Buying of Luxury Homes Picks up in Q2 After Four Quarters of Contraction
FOREIGN buying of Singapore luxury homes is slowly on the rise again, after steep hikes in stamp duties all but smothered the market last year.
But it is still too early to say if a fresh wave of wealth is descending on the island, given current economic uncertainties and still-tight home-purchase restrictions for foreigners, said analysts.
Figures from Savills Singapore showed that in the second quarter of 2024, foreigners (excluding permanent residents) bought 47 non-landed homes in the Core Central Region (CCR) – a market segment often seen as a proxy for high-end and luxury property. In comparison, this group of buyers bought 21 units in the previous quarter.
MAS Issues 5-Year Prohibition Order Against Ex-RHB Representative for False Trading
THE Monetary Authority of Singapore (MAS) on Tuesday (Sep 3) issued a five-year prohibition order against a former representative of RHB Securities, following his conviction for false trading.
Effective from Tuesday, Chong Yew Mun Alan is prohibited from taking part in the management, acting as a director, or becoming a substantial shareholder of any financial advisory firm under the Financial Advisers Act.
He is also barred from performing any regulated activity, and from taking part in the management, acting as a director, or becoming a substantial shareholder of any capital markets services firm under the Securities and Futures Act.
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