SG Morning Highlights: MAS likely to tighten monetary policy anew in October after record-high inflation in May
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Monday; STI up 0.51%
●MAS likely to tighten monetary policy anew in October after record-high inflation in May
●Stocks & REITs to watch: FLCT, TTJ, Boustead Proj, Lian Beng, Katrina
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Monday. The $富時新加坡海峽指數(.STI.SG)$ increased 0.51 per cent to 3127.66 as at 9.05 am.
Advancers / Decliners is 117 to 22, with 75.59 million securities worth S$69.82 million changing hands.
●Singapore shares opened higher on Monday; STI up 0.51%
●MAS likely to tighten monetary policy anew in October after record-high inflation in May
●Stocks & REITs to watch: FLCT, TTJ, Boustead Proj, Lian Beng, Katrina
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Monday. The $富時新加坡海峽指數(.STI.SG)$ increased 0.51 per cent to 3127.66 as at 9.05 am.
Advancers / Decliners is 117 to 22, with 75.59 million securities worth S$69.82 million changing hands.
Breaking News
MAS likely to tighten monetary policy anew in October after record-high inflation in May
Following the record-high core inflation in May of 3.6%, experts believe that the Monetary Authority of Singapore (MAS) will tighten anew its monetary policy in October.
MAS likely to tighten monetary policy anew in October after record-high inflation in May
Following the record-high core inflation in May of 3.6%, experts believe that the Monetary Authority of Singapore (MAS) will tighten anew its monetary policy in October.
"We expect MAS to further steepen the S$NEER gradient at the Oct 2022 monetary policy meeting, while leaving the width of the band and the level at which it is centred unchanged," said UOB, adding that the slope may be raised to 2%.
This was echoed by ING, saying that the possibility of additional tightening is likely if prices stay elevated in mid-Q3.
Stocks & REITs to Watch
$FRASERS LOGISTICS & COM TRUST (BUOU.SG)$ : The manager of Frasers Logistics & Commercial Trust (FLCT) announced on Saturday (Jun 25) that it has acquired a freehold logistics development in the UK for a total consideration on a completed basis of £101 million (S$171.7 million).
Stocks & REITs to Watch
$FRASERS LOGISTICS & COM TRUST (BUOU.SG)$ : The manager of Frasers Logistics & Commercial Trust (FLCT) announced on Saturday (Jun 25) that it has acquired a freehold logistics development in the UK for a total consideration on a completed basis of £101 million (S$171.7 million).
The forward funding investment will see FLCT fund the development of the new facility by seller Stoford Properties, a UK developer specialising in industrial, production and logistics facilities.
The maximum consideration, which is in line with an independent valuation conducted by CBRE as at Jun 1, includes the cost of development.
$TTJ (K1Q.SG)$ : In a surprising move, 4 directors of structural steel specialist TTJ Holdings are recommending that shareholders reject the recent privatisation offer of S$0.23 in cash per share made by THC Venture, an investment holding company held solely by TTJ's executive chairman Teo Hock Chwee.
Buried in a lengthy 222-page circular document posted to the bourse on Friday (Jun 24), the directors said they concur with the independent financial adviser (IFA) – Zico Capital – who advised shareholders to reject the offer on the grounds that it is "not fair and not reasonable".
$Boustead Proj (AVM.SG)$ : Boustead Projects has acquired an 18-storey freehold luxury mixed-used development along 28 and 30 Bideford Road through its 50 per cent-owned joint venture of the group’s wholly-owned subsidiary, BP-Real Estate Investment.
$Boustead Proj (AVM.SG)$ : Boustead Projects has acquired an 18-storey freehold luxury mixed-used development along 28 and 30 Bideford Road through its 50 per cent-owned joint venture of the group’s wholly-owned subsidiary, BP-Real Estate Investment.
While the property was independently valued by Savills at S$550 million as at Jun 20, it was acquired for a consideration of S$515 million excluding goods and services tax.
Boustead Projects intends to satisfy its subsidiary's portion of the consideration by way of cash funded from the group's internal resources.
$Lian Beng (L03.SG)$ : United Tec Construction, which is 60 per cent-owned by construction companyLian Beng Group, secured a new construction project which has bumped up the group’s construction order book in Singapore to some S$1.8 billion.
In a regulatory filing on Friday (Jun 24), Lian Beng said that this order book will provide a “sustainable flow of activity" through FY2026.
Lian Beng did not give further details on the new project that was secured by United Tec Construction, nor did it provide the value of the project.
$Katrina (1A0.SG)$ : Food and beverage (F&B) company Katrina Group announced on Saturday (Jun 25) that chief executive officer Alan Goh Keng Chian has received a notice to attend an interview in relation to an investigation by the Urban Redevelopment Authority (URA).
The URA investigation involves possible breaches of the minimum stay requirement by ST Hospitality and its subsidiaries.
Katrina on Jun 22 had also announced that 2 employees – a senior employee and a junior employee – of subsidiary ST Hospitality are assisting with the URA investigation.
Latest Share Buy Back Transactions
Latest Share Buy Back Transactions
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