SG Morning Highlights: MAS transfers S$75b of official foreign reserves to the govt through new RMGS mechanism
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Friday; STI down 0.25%
●MAS transfers S$75b of official foreign reserves to the govt through new RMGS mechanism
●Stocks to watch: Sembcorp, Frasers Hospitality Trust, EC World Reit, NeraTel
-moomoo News SG
●Singapore shares opened lower on Friday; STI down 0.25%
●MAS transfers S$75b of official foreign reserves to the govt through new RMGS mechanism
●Stocks to watch: Sembcorp, Frasers Hospitality Trust, EC World Reit, NeraTel
-moomoo News SG
Market Trend
Singapore shares opened lower on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ decreased 0.25 per cent to 3,395.81 as at 9.07am.
Advancers / Decliners is 70 to 51, with 81.68 million securities worth S$77.88 million changing hands.
Singapore shares opened lower on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ decreased 0.25 per cent to 3,395.81 as at 9.07am.
Advancers / Decliners is 70 to 51, with 81.68 million securities worth S$77.88 million changing hands.
Breaking News
MAS transfers S$75b of official foreign reserves to the govt through new RMGS mechanism
THE Monetary Authority of Singapore (MAS) said it has transferred excess official foreign reserves (OFR) of S$75 billion to the government through a subscription of Reserves Management Government Securities (RMGS).
RMGS is a new type of non-marketable security issued by the government solely to facilitate MAS' transfers of excess OFR to the government, for longer-term investment by GIC. The MAS Act 1970 was amended in February to allow MAS to subscribe to RMGS.
After the transfer of S$75 billion of OFR to the government, the stock of OFR remaining on MAS' balance sheet is estimated at around 95 per cent of gross domestic product (GDP), the central bank said on Thursday (Apr 7).
Stocks to Watch
$Sembcorp Ind (U96.SG)$ : The mainboard-listed counter's shares hit more than a 3-year hign on Thursday, prompting a query from the Singapore Exchange (SGX) on its "unusual price movements". In a response on the same day, Sembcorp noted media articles that speculated on "certain opportunities" but was not aware of any other possible explanation. The counter ended 5.9 per cent or S$0.16 higher at S$2.87, before the response was issued.
$FRASERS HOSPITALITY TRUST (ACV.SG)$ : The stapled group's managers said in a bourse filing on Friday that they have not received any written proposals for them to take on a new business strategy, nor have they made any decision. While the managers do review strategic options now and then to unlock value for FHT's stapled securityholders, this may not result in a transaction as they may choose to continue on with the existing business strategy. FHT's stapled securities closed 0.9 per cent or S$0.005 higher, at S$0.57 on Thursday.
$EC World Reit (BWCU.SG)$ : Its manager said the refinancing exercise for all onshore and offshore term loans due in 2022 is in the final stages of negotiation. In response to queries from the SGX on Thursday, the manager said it believes the Reit can continue operating as a going concern. Its units closed flat at S$0.73 on Thursday, before the announcement.
$NeraTel (N01.SG)$ : The company has granted De Tian Holdings an option to purchase the company's leasehold interest in a Defu Lane property for a consideration of S$6.3 million. This expires on Apr 21 at 4 pm, announced NeraTel on Thursday. Its shares ended unchanged at S$0.093, before the news.
$Sembcorp Ind (U96.SG)$ : The mainboard-listed counter's shares hit more than a 3-year hign on Thursday, prompting a query from the Singapore Exchange (SGX) on its "unusual price movements". In a response on the same day, Sembcorp noted media articles that speculated on "certain opportunities" but was not aware of any other possible explanation. The counter ended 5.9 per cent or S$0.16 higher at S$2.87, before the response was issued.
$FRASERS HOSPITALITY TRUST (ACV.SG)$ : The stapled group's managers said in a bourse filing on Friday that they have not received any written proposals for them to take on a new business strategy, nor have they made any decision. While the managers do review strategic options now and then to unlock value for FHT's stapled securityholders, this may not result in a transaction as they may choose to continue on with the existing business strategy. FHT's stapled securities closed 0.9 per cent or S$0.005 higher, at S$0.57 on Thursday.
$EC World Reit (BWCU.SG)$ : Its manager said the refinancing exercise for all onshore and offshore term loans due in 2022 is in the final stages of negotiation. In response to queries from the SGX on Thursday, the manager said it believes the Reit can continue operating as a going concern. Its units closed flat at S$0.73 on Thursday, before the announcement.
$NeraTel (N01.SG)$ : The company has granted De Tian Holdings an option to purchase the company's leasehold interest in a Defu Lane property for a consideration of S$6.3 million. This expires on Apr 21 at 4 pm, announced NeraTel on Thursday. Its shares ended unchanged at S$0.093, before the news.
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