To The Moon

Market Snapshot

On Thursday, October 15, the Singapore stock market opened lower, with the STI down about 0.4%. AEM SGD tumbled over 6% in early trading, UMS fell more than 5%, while DBS, OCBC Bank, and UOL all edged down slightly.

Stocks in Focus

The following companies saw new developments that may affect trading of their securities on Thursday (Oct 15):

Hotel Properties Limited (HPL) : The hospitality management group said on Wednesday that it has not made any decision to sell or redevelop its properties, following a report that Hongkong Land is in talks to acquire a majority stake in Forum The Shopping Mall, HPL House and voco Orchard Singapore. Potential redevelopment plans of the properties were also raised. HPL added that there is no certainty any transaction or corporate action will materialise. Shares of HPL closed S$0.34 or 7.4 per cent higher at S$4.96 prior to the news.

Aims Apac Reit : Its second-quarter distribution per unit (DPU) rose 5.4 per cent year on year to S$0.02571. First half DPU was up 4 per cent at S$0.04908 as revenue rose 8.5 per to S$101.6 million and net property income grew 11.1 per cent to S$75.9 million. The counter fell 1.4 per cent to close S$0.02 lower at S$1.39 on Wednesday.

Zico Holdings, Advanced Systems Automation (ASA) : Zico Holdings on Wednesday said the High Court of Singapore granted orders filed by its subsidiary, Zico Capital, for security for costs against ASA. ASA must provide S$42,000 as security within 14 days, and a failure to comply will result in the dismissal of ASA’s action against Zico Capital with costs. ASA has 14 days to appeal the High Court’s decision. Shares of Zico Holdings and ASA ended flat at S$0.049 and S$0.002, respectively, before the news.

ComfortDelGro : The company on Thursday said it has appointed Chew Hock Yong, 62, and Ang Fung Fung, 56, as new independent non-executive directors with effect from Nov 1. Choi Shing Kwok, 67, is retiring from his role as deputy chairman on Dec 31 to devote more time to his personal interests. ComfortDelGro shares closed flat at S$1.26 on Wednesday.

SG Local News

Singapore-registered vessel hit by projectile sinks in Strait of Hormuz; another damaged

A Singapore-registered container vessel sank and a second was damaged after they were struck by unknown projectiles in the Strait of Hormuz, the Maritime and Port Authority of Singapore (MPA) said on Wednesday (Oct 14).

GFS Pride, which was struck on Tuesday, was damaged and a fire broke out on board before it sank. All 21 crew members were evacuated, with no injuries reported.

GFS Giselle was struck the following day; its hull was damaged, but reached a safe anchorage under its own propulsion. Its 22 crew members were also safe and uninjured.

Singapore collecting data on haze, will ‘keep its options open’ on taking legal action: Grace Fu

Singapore is “keeping its options open” on whether it will take action against errant companies under its Transboundary Haze Pollution Act, said Minister for Sustainability and the Environment Grace Fu on Oct 14.

“We are collecting the data now, and we will review them carefully,” she told reporters on the sidelines of a mask distribution exercise at Yuhua SMC, where she is MP.

“We hope that the Indonesian authorities are able to contain the fires. It’s very difficult year because of El Nino,” said Fu, referring to the weather phenomenon that results in drier, hotter weather in equatorial Asean countries.