Good morning, everyone! Here is the market overview of Singapore this morning:

Market overview.

The Singapore stock market opened lower on Monday. As of 10:23 a.m., the Straits Times Index (STI.SG) fell 0.64% to 3,241.09 points, with 98 gainers and 76 losers among the listed stocks. The weather is good today The weather is good today. Please use your Futubull account to access the feature.

Market news.

Singapore retailers are preparing for the impact of the Jurong East to Singapore RTS Link.

The soon-to-open Rail Transit System (RTS) Link between Johor Bahru and Singapore has raised concerns among Singaporean retailers, who fear that sales could drop 5.4% as consumers may prefer to shop in Johor Bahru, where prices are lower and exchange rates more favorable. Experts suggest that Singaporean retailers should adapt by emphasizing unique value propositions and experiences rather than price competition, while leveraging omnichannel strategies to retain and attract customers. The government has also called for policies to support retailers and promote business transformation to cope with the expected shift in shopping patterns after the RTS Link is completed.

Singapore rental prices will fall in the first half of 2024.

Singapore rental prices have fallen significantly in the first half of 2024, down 4.5% QoQ and 5.6% YoY. This slump has left Singapore at the bottom of the ranking for major global rental value changes. Rent price adjustments are due to market adjustments, after rental prices skyrocketed in 2022, out of sync with the global downward trend. As new housing supplies enter the market and demand for prime locations slows, rents are beginning to stabilize. Alan Cheong from First Pacific Davies Singapore points out that the rental market may stabilize by the end of the year, with a sign of a slowdown in the rate of decline. In contrast, prime rental values in cities such as Dubai, Bangkok, and Lisbon have risen significantly. Although rental rates have fallen, the capital value of Singaporean residential properties remains relatively stable, with no significant overall change.

Focus stocks

$Daiwa Hse Log Tr (DHLU.SG)$ $Ho Bee Land$: Ho Bee Land has reached an agreement to sell 49% of its subsidiary, HB Universal (including the Elementum biomedical life science development project), to Fermium 257, a company representing a sovereign wealth fund, at a price of 0.134 billion SGD. This sale is part of a strategic partnership and is expected to be completed on August 21, 2024, paving the way for future collaboration and growth. The transaction values Elementum, located at 1 North Buona Vista Link and designed by Skidmore, Owings & Merrill, at 0.555 billion SGD. Fermium 257 is related to Perpetual Capital VCC, which is linked to Perennial Group and Perennial Singapore Investment Holdings. This marks Ho Bee Land's strategic expansion and is expected to launch new development projects.

$Ho Bee Land (H13.SG)$ : Ho Bee Land has reached an agreement to sell 49% of its subsidiary HB Universal, including the Elementum biomedical life science development project, to a company called Fermium 257 representing sovereign wealth funds, at a price of 0.134 billion new yuan. This sale is part of a strategic partnership and is expected to be completed on August 21, 2024, opening up opportunities for future cooperation and growth. The transaction values Elementum, located at 1 North Buona Vista Link and designed by Skidmore, Owings & Merrill, at 0.555 billion new yuan. Fermium 257 is associated with Perpetual Capital VCC, which has connections with Perennial Group and Perennial Singapore Investment Holdings. This marks a strategic expansion for Ho Bee Land and is expected to launch new development projects in the future.

$Q&M Dental (QC7.SG)$ : Q&M Dental Group reported a sharp increase of 84% in net income in the first half of 2024, rising from 5.3 million new yuan in the previous year to 9.8 million new yuan. The group's earnings per share (EPS) also rose to 0.0104 new yuan, up from 0.0056 new yuan in the first half of last year. The board of directors proposed to distribute a mid-term dividend of 0.004 new yuan per share, a significant increase of 150% from the previous year, scheduled to be paid on September 2. This performance is mainly attributed to the increase in revenue from Singapore dental clinics and the disposal of subsidiaries and compensation for previous suppliers. Despite a decrease in revenue in other business areas, the financial condition of Q&M Dental has improved, with a debt ratio of 0.71 times as of June 30, 2024. CEO Ng Chin Siau reiterated that the group is committed to strengthening its foundation, expanding its network, and integrating artificial intelligence and technological advances to achieve future growth.

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Source: The Business Times, SGinvestors.io, Business Review

Editor/Feynman