SG Morning Highlights: Asset quality of top three SG banks to remain steady

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

●Singapore shares opened higher on Friday; STI up 0.23%

●Asset quality of top three SG banks to remain steady

●Stocks & REITs to watch: SPH Reit, Keppel Corp, Aspial, Maxi-Cash, TTJ

●Latest share buy back transactions

-moomoo News SG

Market Trend

Singapore shares opened higher on Friday. The FTSE Singapore Sea Index (.STI.SG) $ rose 0.23 per cent to 3,136.45 as at 9.01 am.

Advancers / Decliners is 80 to 20, with 47.98 million securities worth S$39.75 million changing hands.

Fitch expects asset quality to remain steady, as the banks' non-performing loan (NPL) ratios were stable in the range between 1.3% to 1.6% at end of the first quarter of 2022, even as almost all of their loan portfolios have exited relief programmes related to the pandemic.

Stocks & REITs to Watch

$PARAGONREIT (SK6U.SG)$ : SPH Reit posted a 5.1 per cent increase in distribution per unit to 1.45 Singapore cents for the third quarter ended May 31, 2022, from 1.38 Singapore cents a year ago. This gives it an annualised distribution yield of 5.8 per cent.

$Keppel (BN4.SG)$ ：Keppel Seghers and the National Environment Agency (NEA) announced on Thursday (Jul 7) that they have signed a memorandum of understanding (MOU) to study the feasibility of carbon capture in local waste-to-energy (WTE) plants.

$Aspial Corp (A30.SG)$ : Mainboard-listed Aspial Corp, controlling shareholder of Catalist-listed Maxi-Cash Financial Services Corp, plans to sell a group of businesses into the latter for at least $87.8 million.

The transaction, meant to consolidate the various jewellery brands under one listed entity, can be worth up to $99.8 million if subsequent earnings targets are met.

$TTJ (K1Q.SG)$ : THC Venture announced in a bourse filing on Thursday (Jul 7) that it has extended the closing date of its privatisation offer for TTJ Holdings from Jul 8 to Jul 22.