SG Morning Highlights: Singapore's manufacturing output recovers to 17.6% in February

-Moomoo News SG

Market Trend
Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index(.STI.SG)$ increased 0.05 per cent to 3,415.38 as at 9.07am.

Advancers / Decliners is 88 to 42, with 137.02 million securities worth S$78.86 million changing hands.

Breaking News
Singapore's manufacturing output up by 17.6% in February, beating market estimates

Singapore's manufacturing output was boosted by 17.6% year-on-year (YoY) in February, compared to the 2.4% growth recorded the month previous.

On a month-on-month seasonally adjusted basis, manufacturing output and output excluding biomedical manufacturing grew by 16.6% and 12.3%, respectively.

Stocks to Watch
$Kep Infra Tr(A7RU.SG)$ : The trustee-manager on Monday proposed new base fee and performance fee structures pegged to distributable income and distribution per unit (DPU) growth respectively, in a bid to better align its interests with the business trust's unitholders.

$YZJ Shipbldg SGD(BS6.SG)$ : Yangzijiang Financial Holding, the entity that will soon be spun off from Yangzijiang Shipbuilding (Holdings) for a separate listing, has received an injection of share capital bringing its initial NTA per share to $1.08. In contrast, Yangzijiang's net asset value as at Dec 31 2021 was RMB9.16 ($1.95) per shares. Based on March 25 closing price of $1.46, it has a market value of $5.8 billion.

$CapitaLand(C31.SG)$ : Two Australian-based properties were acquired by CapitaLand Integrated Commercial Trust (CICT) for around $150m. Following completion of the transaction, the two properties, 100 Acacia Arthur Trust and 66 Acacia Goulburn Trust, will be renamed to Gateway Arthur Trust and Gateway Goulburn Trust, respectively. All units under the properties will also fall under CICT.

$SIA(C6L.SG)$ : Singapore Airlines (SIA) and Scoot have announced their fully vaccinated travellers can enjoy quarantine-free entry into Singapore, without any on-arrival test or quarantine requirements, from 1 April. As a result, SIA and Scoot will no longer designate specific Vaccinated Travel Lane (VTL) flights. Customers currently booked on a VTL flight on or after 1 April may travel as planned with unchanged bookings.