SG Morning Highlights | Updated industry digital plans will offer more integrated digital solutions for SMEs

Advancers / Decliners is 116 to 44, with 89.92 million securities worth S$80.64 million changing hands.

Singapore's 20 refreshed industry digital plans (IDP) will include a new roadmap on cybersecurity and data protection measures, on top of more integrated and advanced solutions to deepen the digital capabilities of small and medium-sized enterprises (SMEs) in a post-Covid world.

Despite recession fears, homegrown retailers along Orchard Road are stocking up in anticipation of higher footfall and spending this festive season as tourists return – though demand may still fall short of pre-pandemic levels.

Fashion retailer Love Bonito expects footfall at its stores to be 80 to 90 per cent higher this December than the same period last year. While locals account for most of the spending at its Ion Orchard and 313@Somerset outlets, tourist receipts have been "slowly increasing", though not yet to pre-Covid levels, said Tan Yilyn, vice-president of retail and country director for Singapore.

At the Singapore Exchange (SGX)'s annual general meeting in October, its chairman Kwa Chong Seng said the exchange must look beyond equity assets and focus on areas where it can be competitive, adding that while it welcomes the listing of local small and medium-sized enterprises (SMEs), it is "not SGX's role to save the SMEs".

Core earnings before interest, taxes, depreciation, and amortisation (Ebitda) was at US$10.2 million, up year on year from US$9.4 million in Q3 2021, but down quarter on quarter from US$16.2 million in Q2 2022.

Meanwhile, gross profit for the period was up 13.3 per cent on-year to US$39.1 million, while revenue rose 17.9 per cent on-year to US$709.8 million, said the natural rubber supplier on Monday (Nov 21).

Founded in 2011, NoonTalk is a Singapore-based, home-grown media entertainment company that specialises in artiste and talent management, multimedia production and event conceptualisation.

NoonTalk's IPO, which comprises 22 million shares at S$0.22 apiece, will raise total gross proceeds of S$4.8 million.