To The Moon

As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,280.10 points, up 3.26% points last week.During the last 5 trading days, $Seatrium(S51.SI)$, $NIO Inc.(NIO.SI)$, $SingPost(S08.SI)$, $HongkongLand USD(H78.SI)$ and $DFIRG USD(D01.SI)$ are the top 5 weekly gainers, up 15.58%, 13.85%, 11.25%, 10.95% and 9.04% respectively.$t PTTEP TH SDR(TPED.SI)$ , $Keppel Infrastructure Trust(A7RU.SI)$ ,

As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,176.51 points, down 1.26% points last week.During the last 5 trading days, $Riverstone(AP4.SI)$, $Emperador Inc.(EMI.SI)$, $First Sponsor(ADN.SI)$ $First Sponsor(ADN.SI)$, $t PTTEP TH SDR(TPED.SI)$ and $UOB(U11.SI)$ are the top 5 weekly gainers, up 3.95%, 3.49%, 2.68%, 2.04% and 1.22% respectively. $Mapletree Log Tr(M44U.SI)$,

The five trading sessions had close to 100 changes to director interests and substantial shareholdings filed for 40 primary-listed stocks. Directors or CEOs filed 20 acquisitions and five disposals, while substantial shareholders filed 14 acquisitions and four disposals.Plato Capital chairman Lim Kian Onn boosts his stake1.JEP HoldingsUMS Holdings acquired 7.3 million shares in $JEP(1J4.SI)$ representing 1.77% of the company from Andy Luong, who serves as chairman and CEO of both companies. This means Luong no longer maintains a direct interest in JEP Holdings. His deemed interest is 78.84%, given that he holds 14.9% of the issued share capital of UMS Holdings, which in turn maintains the 78.84% direct interest in JEP Holdings.2.Plato CapitalOn

27 out of 41 Singapore real estate investment trusts and property trusts (S-REITs) have confirmed the release of their financial results or business updates for the respective periods ended Mar 31, 2024. Of those, 19 will report business updates and eight will report financial results.NameRelease DateRelease TimeFor PeriodTypeSabana REIT15-AprAfter MktQ1Business UpdateKeppel Pacific Oak US REIT17-AprBefore MktQ1Business UpdateCapitaLand Integrated Commercial Trust19-AprBefore MktQ1Business UpdateKeppel DC REIT19-AprBefore MktQ1Business UpdateCapitaLand Ascendas REIT22-AprAfter MktQ1Business UpdateKeppel REIT23-AprBefore MktQ1Business UpdateCapitaLand Ascott Trust24-AprBefore MktQ1Business UpdateCapitaLand China Trust24-AprBefore MktQ1Business UpdateCapitaLand India Trust*24-AprAfter MktQ1B

The four trading days saw close to 70 changes to director interests and substantial shareholdings filed for more than 30 primary-listed stocks.Directors or CEOs filed 17 acquisitions, and five disposals, while substantial shareholders filed 13 acquisitions and seven disposals.Sam Goi continues to boost his stakes in PSC and GSH1.PSC and GSH$PSC Corporation(DM0.SI)$ executive chairman Sam Goi also continued to build his interest in the consumer product manufacturer and distributor.He acquired 144,700 shares of the company at S$0.352 per share, taking his total interest from 30.74% to 30.77%. Goi also bought more shares of  $GSH(BDX.SI)$ , where he also serves as executive chairman.He acquired the

As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,216.91 points, down 0.04% points last week.During the last 5 trading days, $Jardine C&C(C07.SI)$, $Bumitama Agri(P8Z.SI)$, $Shangri-La HKD(S07.SI)$, $t PTTEP TH SDR(TPED.SI)$ and $GLD SG$(GSD.SI)$ are the top 5 weekly gainers, up 10.43%, 8.22%, 6.98%, 6.30% and 5.37% respectively. $YZJ Shipbldg SGD(BS6.SI)$, $Riverstone(AP4.SI)$

The four trading sessions had close to 90 changes to director interests and substantial shareholdings filed for nearly 50 primary-listed stocks.Directors or chief executive officers filed 19 acquisitions and four disposals, while substantial shareholders filed six acquisitions and four disposals.1.Grand Bank YachtsWillimbury, a private company incorporated in Australia, increased its substantial shareholding in  $Grand Banks(G50.SI)$ above the 15% threshold on Mar 28.The married deal involved 1,709,500 shares being acquired at S$0.31 apiece, boosting the company’s direct interest to 15.79% from 14.86%. It had raised its direct interest above the 14% threshold in June 2022, with that acquisition also transacted at an average price of S$0.31

REIT Watch - Current PB ratios vs 5-year averages of the 10 largest weights of the iEdge S-Reit IndexIt has not been smooth sailing for REITs over the recent months with higher interest rates adding pressure to share prices and valuations.Despite this, the S-REIT sector is now trading at a discount of close to 20% compared to its longer-term average in terms of price-to-book ratio.This is indicated by the iEdge S-REIT Index currently trading at a price-to-book (PB) ratio of 0.87 times, against the index’s five-year average PB ratio of 1.04 times – which showed a discount of 16%. REIT Watch - iEdge SREIT Index's PB ratio trades below -1 SD of the longer-term averageThe iEdge S-REIT Index and associated variant indices provide benchmarks for a number of portfolio products such as ETFs,

The four trading sessions saw close to 60 changes to director interests and substantial shareholdings filed for close to 30 primary-listed stocks.Directors or CEOs filed 19 acquisitions, and two disposals, while substantial shareholders filed four acquisitions and one disposal.Union Steel co-founder Ang Yew Chye ups stake1. $Raffles Medical(BSL.SI)$ Between Mar 21 and 25, Raffles Medical Group executive chairman Loo Choon Yong acquired 600,000 shares at an average price of S$1.03 per share. It increased his total interest from 53.79% to 53.83%. This has followed on from his acquisition of 14.3 million shares between Feb 27 and Mar 20.2. $UnionSteel(ZB9.SI)$ Between Mar 25 and 26, Union

The first quarter of 2024 (till Mar 27) saw the FTSE EPRA Nareit Global REITs Index decline 0.6% in total return. The iEdge S-REIT Index recorded greater total return declines of 7.3% across the same period.January and February 2024 saw the 41 S-REITs and property trusts average 4.8% and 6.3% total return declines, respectively, as expectations for easing interest rates were pushed later in the year than previously expected. In March, the sector rebounded 2.5% (till Mar 27) as investor confidence in the sector returned, with the Federal Reserve foreseeing three rate cuts by the end of 2024.In terms of fund flows, institutional investors net sold over S$560 million worth of S-REITs in Q1 2024.On the other hand, retail investors continued to net buy the sector at over S$480 million, after ac