According to the minutes released by the US Federal Reserve overnight, the Fed is sending mixed signals on the extent of rate hikes in September, with some supporting another 75 basis point hike while others are taking a more cautious stance. The market is debating whether the authorities' rate hike policy will turn out to be less aggressive.
The following are the morning news from Singapore stock market.
1) $SINGAPORE POST LIMITED(S08.SI)$ reported its business for the first quarter ended June this morning, with group revenue up 34.7% to $475.2 million, while operating profit dipped 46.7% to $10.6 million.
(2) $TUAN SING HOLDINGS LIMITED(T24.SI)$, $SP CORPORATION LIMITED(AWE.SI)$requested to suspend trading this morning, and will announce later.
(3) $MARCO POLO MARINE LTD.(5LY.SI)$'s profit for the third quarter ended June rose 185.3% year-on-year to $9.7 million, while revenue rose 139.5% to $28.5 million.
(4) $TEE INTERNATIONAL LIMITED(M1Z.SI)$signed a conditional subscription agreement with Meta5, under which Meta5 will subscribe for $7.5 million of new shares in TEE International, which is estimated to represent 52% of the company's enlarged share capital, and the proceeds will be used to repay eligible creditors, provide working capital and fund business development.
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