SG Morning Highlights: Singapore's $35b green bond sale lifts sustainable financing capabilities

Moomoo News SG wrote a column · Jun 16, 2022 09:02

SG Morning Highlights: Singapore's $35b green bond sale lifts sustainable financing capabilities

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

●Singapore shares opened higher on Thursday; STI up 0.90%

●Singapore's $35b green bond sale lifts sustainable financing capabilities

●Stocks & REITs to watch: Singtel, Singapore Airlines, Procurri

●Latest share buy back transactions

-moomoo News SG

Market Trend

Singapore shares opened higher on Thursday. The $富時新加坡海峽指數(.STI.SG)$ increased 0.90 per cent to 3133.74 as at 9:00 am.

Advancers / Decliners is 117 to 12, with 36.18 million securities worth S$44.43 million changing hands.

Breaking News

Singapore's $35b green bond sale lifts sustainable financing capabilities

Singapore's plan to sell up to $35b green sovereign bonds through 2030 will help develop the country's sustainable financing capabilities and support its climate agenda, according to Fitch Ratings.

The funds raised may be spent to promote fields such as adaptation to climate change, biodiversity conservation and sustainable resource usage, renewable energy, energy efficiency, clean transportation, sustainable water management, pollution control, and green buildings, Fitch added.

The bond issuance is also a testament to the Singapore government's commitment to long-term social challenges, such as sustainable development and combating climate change. The government targets for carbon emissions to reach net-zero by or around 2050, with the establishment of a broader green finance ecosystem by then.

Stocks & REITs to Watch

$Singtel (Z74.SG)$ : Singtel announced in a press release on Wednesday (Jun 15) that its Australian subsidiary Optus will directly oversee its Optus Enterprise division from Jul 1 this year. The division was formerly under Singtel's group enterprise division.

In an announcement, Singtel said the transfer of the management of this division to Australia is part of the group's move to further decentralise its organisational structure. The move will also give Optus more operational autonomy, and direct accountability said Singtel.

$SIA (C6L.SG)$ : Singapore Airlines is progressing on its recovery runway as the mainboard-listed group in May logged the highest passenger traffic and load factor since the pandemic hit in early 2020.

The national carrier with budget arm Scoot together flew a total of 1.7 million passengers, 17.4 per cent more than that in April, when Singapore dropped most of its border requirements for vaccinated travellers.

$Procurri (BVQ.SG)$ : IT solutions provider Procurri Corporation on Thursday (Jun 16) announced changes to its board of directors effective Jun 15, including the cessation of its non-independent non-executive director Loke Wai San.

Loke, who is founder and managing director of private equity fund adviser NovoTellus Capital Partners, resigned after Novo Tellus PE Fund 2 tendered all of its shares in acceptance of DeClout’s mandatory cash offer for Procurri.

Latest Share Buy Back Transactions