SG Morning Call | STI Opens Flat; AEM SGD Surges Nearly 5%, UMS Up Over 1% in Early Trade
Market Snapshot
On Monday, Singapore's STI opened flat. $AEM SGD(AWX.SI)$ surged nearly 5% in early trade, while UMS gained over 1%. DBS, OCBC Bank and UOL edged higher, whereas JMH USD fell over 0.5% and Singtel slipped 0.2%.
Stocks in Focus
The following companies saw new developments that may affect trading of their securities on Monday (Sep 21):
Suntec Reit : The real estate investment trust (Reit) will focus on the growth of its Singapore assets while reducing its overseas exposure, starting with Australia. The Reit’s manager on Monday said it intends to sell three properties in Australia, located at 177 Pacific Highway, 21 Harris Street and 477 Collins Street. This follows a strategic review of its portfolio after the change of its sponsor from ESR Asset Management to Tang Organization in March. Units of Suntec Reit rose 0.7 per cent or S$0.01 to close at S$1.38 on Friday.
Boustead Singapore : The company on Friday said one of its overseas business units was the subject of a cybersecurity incident. The unit has since conducted a full investigation and made relevant notifications to the Personal Data Protection Commission in Singapore and other authorities in the affected jurisdictions, said Boustead. The critical systems and business data of the unit have also since been fully recovered from its backups. There was no material disruption to its business or other units, it added. Shares of Boustead rose 0.6 per cent or S$0.01 to close at S$1.80 before the news on Friday.
SG Local News
Asean to roll out upgraded trade pact ahead of schedule: Gan Kim Yong
Asean is moving to make it easier for goods and businesses to move across South-east Asia as the regional grouping pushes for closer economic ties, said Deputy Prime Minister Gan Kim Yong.
Asean economic ministers have agreed to roll out an upgraded regional goods trade pact ahead of schedule, he said in a Facebook post on Saturday (Sep 19).
It is one of the key outcomes from the first day of talks during the Asean Economic Ministers’ Meeting and Related Meetings being held in Manila from Sep 19 to 22.
Suntec Reit to increase Singapore focus, sell three Australia properties
Suntec Real Estate Investment Trust (Suntec Reit) will focus on growing its Singapore assets, while reducing its overseas exposure, starting with Australia, following a strategic review of its portfolio.
“The macroeconomic and political stability, together with the relative strength of the Singapore dollar… continue to support a compelling case for growing Suntec Reit’s investment in Singapore,” said the manager on Monday (Sep 21) in a bourse filing.
At the same time, the Reit manager intends to sell three properties in Australia, at 177 Pacific Highway, 21 Harris Street and 477 Collins Street.
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