Good morning everyone! Here's an overview of the Singapore market this morning:
The Singapore stock market opened higher on Wednesday; FTSE Singapore Index rose 0.33%
Haiji hits a 52-week high; Singtel climbs 3.2%
JLL says Singapore's real estate market is one of the most transparent in the world
Stocks to watch: Mapletree Logistics Trust, Shengbao Real Estate Trust, Q&M Dental, Del Monte Pacific
Latest share repurchase transactions
Market performance
The Singapore stock market opened higher on Tuesday. As of 10:15 a.m.$FTSE Singapore Straits Time Index (.STI.SG)$ It rose 0.33% to 3524.260 points, while Singapore stocks rose 87 units and fell 61.
Market highlights
Sea Index hits 52-week high; Singtel climbs 3.2%
The Straits Times Index (STI) hit a 52-week intraday high on Tuesday (September 10), surging to 3,523.47 points. The index also recorded a yearly high closing price of 3,512.67 points.
The rise in the Singapore stock market is in line with the overall rise in the Asian stock market. This appears to have been affected by the strong performance of the three major Wall Street indices the night before.
JLL says Singapore's real estate market is one of the most transparent in the world
According to the JLL Global Real Estate Transparency Index released in September 2024, Singapore is recognized as one of the world's “highly transparent” real estate markets. Singapore ranked 13th out of 89 international markets, with an overall score of 1.92. In the Asia Pacific region, Singapore is ahead of the Hong Kong Special Administrative Region (15th; 1.97), but behind Australia (4th; 1.37), New Zealand (7th; 1.59), and Japan (11th; 1.83). The UK is the most transparent market in the world, with a score of 1.24, followed by France (1.26) and the US (1.34).
Individual stocks in focus
$Mapletree Log Tr (M44U.SG)$ It has announced plans to sell its three warehouse properties in Malaysia for RM0.1575 billion (S$47.7 million) through its management. These proposed sales are expected to be completed in fiscal year 2025. Prior to this news, Mapletree Logistics Trust's shares rose slightly, rising 0.7% to close at S$1.43.
$Sabana Reit (M1GU.SG)$ Successfully used as Sabana @1TA4大厦找到首位租户 at 1 Tuas Avenue 4. The new tenants are expected to generate revenue for the company starting in the first quarter of 2025. Prior to the announcement, Sabana Reit's share price remained unchanged at SGD 0.35.
$Q&M Dental (QC7.SG)$ Plans were announced on Wednesday to acquire Veritas Dental, a dental clinic in Bukit Timah, for S$0.8 million. The acquisition will be carried out directly or through a wholly-owned subsidiary to support Q&M's strategy to expand its main dental business in Singapore. Q&M shares rose 1.8%, or S$0.005, to close at S$0.28 on Tuesday.
$Del Monte Pac (D03.SG)$ According to the report, the net loss for the quarter ended July 31 increased to 34.2 million US dollars, a significant increase from the loss of 13.1 million US dollars in the same period last year. The company said poor performance of its US subsidiary Del Monte Foods and rising interest expenses were responsible for the loss. On Tuesday, the stock closed down 1.1%, or S$0.001, to S$0.088 before earnings were announced.
$Dyna-Mac (NO4.SG)$ A request was made to suspend trading on Wednesday morning, pending an upcoming announcement. The offshore oil and gas contractor's shares were previously down 2%, or S$0.01, to close at S$0.495 on Tuesday.
Stock repurchases
Source: Business Times, SGInvestors.io, Business Review
Editor/Feynman