SG Morning Highlights: Singapore private sector accelerates in April
![SG Morning Highlights: Singapore private sector accelerates in April](https://ussnsimg.moomoo.com/5080009533683859036.jpg/bigmoo)
Good morning mooers! Here are things you need to know about today's Singapore:
Singapore shares fall 1.5%, tracking weakness in U.S. markets.
Singapore private sector accelerates in April.
Stocks to watch: FLCT, SIA Engineering, AEM, Aims Apac Reit, Oceanus.
-moomoo News SG
Market Trend
Singapore shares opened lower on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ fell 1.5 per cent to 3,293.60 as at 9:24am.
Advancers / Decliners is 35 to 184, with 183.06 million securities worth S$214.72 million changing hands.
Breaking News
The private sector in Singapore picked up steam in April, the latest survey from S&P Global revealed on Friday with a PMI score of 56.7.
That's up from 52.9 and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
This marked the seventeenth straight month in which the PMI printed above the neutral 50.0 threshold, signaling improving business conditions. The rate of growth was also the joint-fastest seen in nearly four years.
Stocks to Watch
$FRASERS LOGISTICS & COM TRUST (BUOU.SG)$: The real estate investment trust (Reit) on Friday posted a 1.3 per cent rise in distribution per unit (DPU) to S$0.0385 for its first half ended Mar 31, 2022. Revenue also increased, up 1.7 per cent to S$235.7 million for the half-year period. Units of FLCT closed S$0.02 or 1.4 per cent higher at S$1.45 on Thursday.
$SIA Engineering (S59.SG)$: The maintenance arm of Singapore Airlines on Thursday posted a net profit of S$42.6 million for the 6 months ended Mar 31, as earnings rebounded on a writeback of associates' tax provisions. But, the board warned of risks to its business outlook, despite early signs of recovery as SIAEC was still ringing up operating losses, with its full-year bottom line sustained only by "substantial government wage support'. Shares closed flat on Thursday at S$2.66, before the results were released.
$AEM SGD (AWX.SG)$: The mainboard-listed electronics provider on Thursday reported S$40.8 million in net profit for its first quarter ended Mar 31, 2022, more than tripling from its S$13.3 million profit recorded for the year-ago period. AEM recorded quarterly revenue of S$261.9 million, which was the highest in the group's history, up from S$80.2 million a year ago. Shares of AEM closed 0.4 per cent or S$0.02 higher at S$4.84, before the announcement.
$AIMS APAC Reit (O5RU.SG)$: The Reit's manager on Friday said it is in exclusive due diligence to acquire Avaya House, an office property located in Macquarie Park in Sydney, Australia. It noted that no binding agreement has been entered into and there is no certainty that the Reit would acquire the property. The counter closed 0.7 per cent or S$0.01 higher at S$1.41 on Thursday.
$Oceanus (579.SG)$: Oceanus Group's subsidiary, Oceanus Media Global, has set up a S$5 million futurealistic studio that will help businesses create customised immersive media productions, the company announced on Thursday. The company is also looking to boost its current staff size of 50 by at least 50 per cent over the next 2 years. Shares of Oceanus closed flat at S$0.017 on Thursday, after the announcement.
$Boustead Proj (AVM.SG)$: The real estate player announced on Thursday that its wholly-owned subsidiary, BP Vietnam Development, has with Khai Toan Joint Stock Company to acquire, develop and own a portfolio of logistics and industrial properties in Vietnam. The move will strengthen Boustead Projects' business presence in Vietnam. Shares of Boustead Projects closed flat at S$0.955 on Thursday before the announcement.
$Keong Hong - watch list (5TT.SG)$: The mainboard-listed construction company for the 6 months to Mar 31, 2022, the board said in a profit guidance on Thursday. The expected first-half net loss was attributed "mainly to the continuation of labour shortages and rising business costs due to the Covid-19 pandemic". Shares of Keong Hong last traded on Wednesday at S$0.375, before the latest update.
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