Market Snapshot
Singapore stocks opened higher on Friday. STI up 0.3%; Keppel up 4%; Genting Sing up 2%.
Stocks in Focus
Keppel : BN4: The group on Friday announced the termination of its proposed divestment of M1, as the sale and purchase agreement to divest M1 to Simba Telecom has terminated and ceased to have effect. This follows a Monday announcement by the Infocomm Media Development Authority that it has halted its assessment of the proposed M1-Simba consolidation until further notice. The counter closed on Thursday 1 per cent or S$0.10 higher at S$10.42.
Nio : NIO: The electric vehicle maker reported on Thursday a net loss of 332.1 million yuan (S$62.5 million) for its first quarter ended Mar 31, narrowing from a net loss of about 6.8 billion yuan a year earlier. Revenue stood at 25.5 billion yuan, more than doubling year on year from 12 billion yuan. Shares of Nio on the Singapore Exchange closed US$0.06 or 1.1 per cent lower at US$5.61, before the announcement.
Sri Trang Gloves : STG: The Thailand-based manufacturer on Thursday reported a 9.5 per cent decline in net profit for Q1 ended Mar 31, to 384.1 million baht (S$15.1 million) from 424.2 million baht a year prior. It came on the back of lower revenue and margins, which weighed on the group’s performance. Revenue declined 16.2 per cent to 5.5 billion baht from 6.6 billion baht the year before. The counter ended flat at S$0.355, before the release of results.
Aims Apac Reit : O5RU: The manager of the real estate investment trust (Reit) on Thursday said that it has entered into a second unsecured sustainability-linked loan, comprising S$450 million and A$160 million (S$146 million) in revolving credit facilities. It also announced a A$115 million unsecured Australian syndicated loan. Units of the Reit closed S$0.03 or 1.9 per cent higher at S$1.60 on Thursday, before the news.
Trading halt: EuroSports Global : 5G1 called for a trading halt with immediate effect on Friday morning pending the release of an announcement. The counter closed 7.5 per cent or S$0.003 down at S$0.037 on Thursday.
Bromat : 9I7 requested a trading halt with immediate effect on Friday morning pending the release of an announcement. The stock closed flat on Thursday at S$0.016.
SG Local News
Singapore's Digital Edge Closes $575 Million Loan to Fund Asia-Pacific Expansion
Digital Edge, a Singapore-based data centre company backed by U.S.-based investor Stonepeak, has closed its first $575 million holding company loan to fund expansion in Asia-Pacific markets, it said on Friday.
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