SG Morning Highlights: SGX partners UK to support sustainable growth in Asia

Good morning moomooers! Here are things you need to know about today's Singapore:

●Singapore shares were flat; STI up 0.07%

●SGX partners UK to support sustainable growth in Asia

●Stocks to watch: Singtel, First Reit, Keppel Corp, Sembmarine, Low Keng Huat, Wing Tai

-Moomoo News SG

Market Trend
Singapore shares opened higher on Friday. The $FTSE Singapore Straits Time Index(.STI.SG)$ increased 0.07 per cent to 3,410.90 as at 9.01am.

Advancers / Decliners is 47 to 75, with 106.80 million securities worth S$117.78 million changing hands.

Breaking News
SGX partners UK to support sustainable growth in Asia

BOURSE operator Singapore Exchange (SGX) will be partnering the United Kingdom government to assist and fund companies that support sustainable development, and which are looking to go public in the city-state.

$Singtel (Z74.SG)$ : The telco's unit Australia Tower Network (ATN) on Friday said it has proposed to acquire Axicom, a provider of telecommunications tower infrastructure in Australia, for A$3.6 billion (S$3.7 billion). Singtel, which sold a 70 per cent stake in ATN in 2021, will hold an 18 per cent interest in the combined ATN and Axicom business post-acquisition. Shares of Singtel closed at S$2.64 on Thursday, down S$0.02 or 0.8 per cent.

First Real Estate Investment Trust ：It has priced S$100 million in aggregate principal amount 5-year guaranteed bonds at 3.25 per cent. The bonds are guaranteed by the Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank. In an announcement on Friday, the Reit manager said this represents Singapore's first-ever healthcare social bond. Units of First Reit ended Thursday S$0.005 or 1.6 per cent higher at S$0.31.

$Keppel (BN4.SG)$ , $Seatrium (S51.SG)$ ：Both parties on Thursday said they will require more time and deliberation for the proposed combination between Keppel Offshore & Marine (O&M) and Sembmarine, although "significant progress" was made. Separately, Keppel Corp announced that its unit Telecommunications and Transportation (Keppel T&T) will sell its entire stake in Keppel Logistics to Geodis International SAS for some S$80 million. Prior to both announcements, Keppel Corp's shares closed Thursday down S$0.07 or 1.1 per cent at S$6.42. Sembmarine ended 1 per cent or S$0.001 lower at S$0.098.

$Low Keng Huat (F1E.SG)$ : The mainboard-listed builder sank deeper into the red in the fiscal second half from a year ago. Net loss for the 6 months ended Jan 31, 2022 stood at S$4.3 million, compared with a net loss of S$3.1 million the previous year. Its board has proposed a first and final dividend of S$0.02 per ordinary share. Shares of Low Keng Huat closed down 1 per cent or S$0.005 at S$0.48 on Thursday, before the results were released.

$Wing Tai (W05.SG)$ : Its unit has bought a remaining 50 per cent interest in its freehold properties in Melbourne, Australia for A$49.4 million. The transaction is not expected to have a material impact on the group's net asset value for its current fiscal year. Shares of Wing Tai closed down 1.1 per cent or S$0.02 at S$1.79 on Thursday, before the announcement.