SG Morning Highlights: DBS downgrades SIA Engineering to 'hold' as reopening gains are likely priced in
![SG Morning Highlights: DBS downgrades SIA Engineering to 'hold' as reopening gains are likely priced in](https://ussnsimg.moomoo.com/1292903375774222720.jpg/bigmoo)
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Tuesday; STI down 0.82%
● DBS downgrades SIA Engineering to 'hold' as reopening gains are likely priced in
●Stocks to watch: Keppel DC Reit, Ascendas Reit, CSE Global, Azeus
-moomoo News SG
Market Trend
Singapore shares opened lower on Tuesday. The $富時新加坡海峽指數(.STI.SG)$ decreased 0.82 per cent to 3,248.15 as at 9:00am.
Advancers / Decliners is 13 to 108, with 35.47 million securities worth S$47.45 million changing hands.
●Singapore shares opened lower on Tuesday; STI down 0.82%
● DBS downgrades SIA Engineering to 'hold' as reopening gains are likely priced in
●Stocks to watch: Keppel DC Reit, Ascendas Reit, CSE Global, Azeus
-moomoo News SG
Market Trend
Singapore shares opened lower on Tuesday. The $富時新加坡海峽指數(.STI.SG)$ decreased 0.82 per cent to 3,248.15 as at 9:00am.
Advancers / Decliners is 13 to 108, with 35.47 million securities worth S$47.45 million changing hands.
Breaking News
DBS downgrades SIA Engineering to 'hold' as reopening gains are likely priced in
DBS Group Research on Monday (May 9) downgraded SIA Engineering (SIAEC) to "hold" from "buy", as reopening gains are likely already accounted for in its current share price. It maintained a target price of S$2.65.
DBS downgrades SIA Engineering to 'hold' as reopening gains are likely priced in
DBS Group Research on Monday (May 9) downgraded SIA Engineering (SIAEC) to "hold" from "buy", as reopening gains are likely already accounted for in its current share price. It maintained a target price of S$2.65.
DBS said that the group's core earnings turnaround is still a couple of quarters away, considering flight traffic at Changi Airport is still at around 40 per cent of pre-pandemic levels.
Stocks to Watch
Stocks to Watch
$Keppel DC Reit (AJBU.SG)$ : A wholly-owned subsidiary of Keppel DC Reit trustee Perpetual (Asia), Keppel DC Reit MTN, has priced 75 million euros of fixed rate notes due 2028 at 2.61 per cent per annum.
In a bourse filing on Tuesday (May 10), Keppel DC Reit's manager said the Series 003 Notes will be issued under the S$2 billion multicurrency debt issuance programme established by Keppel DC Reit MTN.
Net proceeds from the issue will be used for general corporate purposes including refinancing the real estate investment trust (Reit) and subsidiaries’ existing debt, said Keppel DC Reit's manager.
$CapLand Ascendas REIT (A17U.SG)$ : Ascendas Reit has proposed to acquire 7 logistics properties located across 6 infill industrial submarkets in Chicago, Illinois, United States for S$133.2 million.
Net proceeds from the issue will be used for general corporate purposes including refinancing the real estate investment trust (Reit) and subsidiaries’ existing debt, said Keppel DC Reit's manager.
$CapLand Ascendas REIT (A17U.SG)$ : Ascendas Reit has proposed to acquire 7 logistics properties located across 6 infill industrial submarkets in Chicago, Illinois, United States for S$133.2 million.
The proposed deal is expected to increase and diversify the industrial real estate investment trust's (Reit) exposure to logistics properties in the US and across its portfolio, its manager said on Tuesday (May 10).
$CSE Global (544.SG)$ : CSE Global secured S$232.3 million worth of new orders in the fourth quarter ended Dec 31 2022, up 118.8 per cent from a year ago.
$CSE Global (544.SG)$ : CSE Global secured S$232.3 million worth of new orders in the fourth quarter ended Dec 31 2022, up 118.8 per cent from a year ago.
This takes its order book to S$344 million as at Q1 2022.
Lim Boon Kheng, group managing director of CSE Global, said that the strong orders received in Q1 2022, building on the momentum from Q4 2021, is a testament to customers’ confidence and trust in the company's solutions and services.
$Azeus (BBW.SG)$ : IT Solutions and products provider Azeus Systems Holdings has bagged a HK$1 billion (S$180.2 million) contract to design and develop the central electronic record-keeping system of bureaus and departments of the Hong Kong SAR government over a 53-month period.
Lim Boon Kheng, group managing director of CSE Global, said that the strong orders received in Q1 2022, building on the momentum from Q4 2021, is a testament to customers’ confidence and trust in the company's solutions and services.
$Azeus (BBW.SG)$ : IT Solutions and products provider Azeus Systems Holdings has bagged a HK$1 billion (S$180.2 million) contract to design and develop the central electronic record-keeping system of bureaus and departments of the Hong Kong SAR government over a 53-month period.
The contract is the single largest contract secured by Hong Kong-based Azeus in corporate history, the company said on Monday (May 9).
The estimated contract value includes HK$633.9 million for the total implementation price, as well as HK$381.4 million for the system's maintenance and support for 10 years following its implementation.
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