SG Morning Highlights: Singapore poultry importers see reprieve as Malaysia's chicken export ban partially lifted

Moomoo News SG wrote a column · Jun 15, 2022 09:07

SG Morning Highlights: Singapore poultry importers see reprieve as Malaysia's chicken export ban partially lifted

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

●Singapore shares opened higher on Wednesday; STI up 0.06%

●Singapore poultry importers see reprieve as Malaysia's chicken export ban partially lifted

●Stocks & REITs to watch: Far East Orchard, Hwa Hong

●Latest share buy back transactions

-moomoo News SG

Market Trend

Singapore shares opened higher on Wednesday. The $富時新加坡海峽指數(.STI.SG)$ increased 0.06 per cent to 3110.71 as at 9:03 am.

Advancers / Decliners is 78 to 52, with 40.94 million securities worth S$58.09 million changing hands.

Breaking News

Singapore poultry importers see reprieve as Malaysia's chicken export ban partially lifted

A fortnight after implementing a blanket suspension on all chicken exports, the Malaysian government on Tuesday (Jun 14) announced a partial lifting of the ban with some poultry players in Singapore already able to bring in live kampung and black chickens.

This was revealed in a letter dated Jun 9 by Malaysia's Department of Veterinary Services and seen by The Business Times (BT), which also stated that exports of poultry products such as nuggets or sausages can also resume. However, commercial broiler chickens, which make up the bulk of the chickens that Singapore used to import from Malaysia on a daily basis, are still on the ban list.

Stocks & REITs to Watch

$Far East Orchard (O10.SG)$ : Real estate company Far East Orchard has acquired a plot of land in Bristol through a joint venture (JV) with Woh Hup Holdings and Way Assets to develop a student hostel in the English city, the mainboard-listed company said in a bourse filing on Tuesday (Jun 14).

Located less than a kilometre from the new Temple Quarter Enterprise Campus of the University of Bristol, the purpose-built student accommodation at Plot 6 Silverthorne Lane will feature at least 690 beds and is expected to be fully completed in 2027.

$Hwa Hong (H19.SG)$ : The revised offer of S$0.40 per share to privatise property player Hwa Hong Corporation is “fair and reasonable”, the independent financial adviser (IFA) to the deal said on Tuesday (Jun 14).

The IFA, Provenance Capital, advised the directors to recommend shareholders accept the offer from Sanjuro United, even though this represented a 20.8 per cent discount to the adjusted revalued net asset value (RNAV) of the group of S$0.5052 per share.

The board of directors have concurred with the advice and recommendation of the IFA and have recommended that shareholders accept the offer. Notwithstanding the recommendation, the directors from the controlling Ong family said they do not intend to accept the offer themselves.

Latest Share Buy Back Transactions