SG Morning Call | STI rose 0.5%; Singtel jumped 1.27%; NeraTel fell 2.5%-To The Moon - Tiger Brokers Online Investing Community

SG Morning Call | STI rose 0.5%; Singtel jumped 1.27%; NeraTel fell 2.5%

Market Snapshot

Singapore stocks opened higher on Thursday. STI rose 0.5%; Singtel jumped 1.27%; NeraTel fell 2.5%.

Stocks to Watch

$IHH Healthcare(Q0F.SI)$: The integrated healthcare provider on Wednesday announced that its indirect wholly owned subsidiary, Pantai, was proposing to fully acquire Island Hospital in Penang, Malaysia, for RM3.9 billion (S$1.2 billion) in cash. The transaction will be funded through internally generated funds of IHH and its subsidiaries, as well as external borrowings. Shares of IHH closed 0.5 per cent or S$0.01 lower at S$1.91, before the announcement.

$Nera Telecommunications(N01.SI)$ (NeraTel): The communications and network solutions provider has received an offer from Taiwan-listed Ennoconn Corporation for all the shares in the company it does not own at S$0.075 apiece. This comes after Ennoconn agreed to acquire nearly 53.4 per cent of the total amount of shares in NeraTel. Shares of NeraTel closed flat at S$0.08 on Wednesday, before the announcement.

SG Local News

Singapore Tax Revenue up 17% to S$80.3 Billion in FY23/24

Singapore’s tax revenue rose 17 per cent to hit S$80.3 billion for FY2023/24, a result that the taxman on Wednesday (Sep 4) said reflects strong economic growth and nominal wage growth in 2022.

Tax revenue rose in most categories, based on the annual report of the Inland Revenue Authority of Singapore (Iras).

All COE Premiums up; Mainstream Car and Motorcycle Categories Lead the Way

In the results of September’s first round of Certificate of Entitlement (COE) bidding on Wednesday (Sep 4), premiums for all types of vehicles rose, with the mainstream passenger car and motorcycle categories posting the largest increases.

The price for Category A, for mainstream cars, rose 2.8 per cent or S$2,590 to S$96,490.

The Category A COE applies to mainstream cars with engines of up to 1,600 cubic centimetres (cc) in capacity or with up to 97 kilowatts (kW) of power, or for electric vehicles (EVs) with up to 110 kW of power.

$(STI.SI)$ $(N01.SI)$ $(Q0F.SI)$

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