SG Morning Highlights | Keppel Snags Two Contracts to Provide "Energy-as-a-Service" in Bangkok
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened up on Thursday; STI up 0.36%
●TikTok Shop thriving in a crowded field of S-E Asia e-commerce players
●Stocks to watch: Keppel, Singapore Paincare, OUE Commercial Reit
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened up on Thursday. The $FTSE Singapore Straits Time Index (.STI.SG)$ gained 0.36 per cent to 3,229.74 as at 9.19 am.
Advancers / Decliners is 104 to 69, with 257.19 million securities worth S$201.29 million changing hands.
Breaking News
TikTok Shop – TikTok's e-commerce arm – has made a splash in the e-commerce market in South-east Asia, according to a report by consultancy Momentum Works.
TikTok Shop's gross merchandise value (GMV) grew from US$600 million in 2021 to US$4.4 billion in 2022, noted the report.
TikTok Shop has expanded from just Indonesia to five more countries in 2022 – Thailand, Vietnam, Malaysia, the Philippines and Singapore. But this still lags behind leader Shopee.
Stocks to Watch
$Keppel (BN4.SG)$: Keppel Corp has secured two contracts to provide what it dubs "energy-as-a-service" (EaaS) in Bangkok's Sam Yan Smart City, through its joint venture (JV) with Decarb Corp.
Keppel's EaaS service enables businesses and building owners to enter a supply-and-service contract for energy usage and management without making significant upfront capital investments.
The Thai EaaS contracts are with Centara Watergate and Watergate Pavilion, a hotel and a shopping mall, Keppel announced in a Wednesday bourse filing. The company will design and retrofit the buildings’ existing chilled-water systems to improve their energy efficiency and asset performance.
$Sing Paincare (FRQ.SG)$: Singapore Paincare Holdings is eyeing an entry into the China market, with its 51 per cent-owned subsidiary agreeing to invest 40 million yuan (S$7.6 million) in community hospital operator PuXiang Healthcare Holding.
The subsidiary, Singapore Paincare Capital (SGPC), has entered a share subscription agreement for 2.8 million new Series A+ preferred shares in PuXiang.
This translates to a 2.26 per cent stake, Singapore Paincare announced on Wednesday (June 14).
$OUEREIT (TS0U.SG)$: OUB Centre, an indirect subsidiary of has obtained an unsecured sustainability-linked loan (SLL) of S$430 million, its manager announced in a Wednesday (June 14) bourse filing.
This is OUE C-Reit's third SLL. It was obtained from new and existing lenders – OCBC Bank, Maybank Singapore, the Industrial and Commercial Bank of China, The Bank of East Asia and Qatar National Bank. OCBC was the sustainability coordinator for the transaction.
The proceeds will be used for refinancing existing borrowings and general corporate purposes. With this facility, the Reit has no further refinancing requirements until 2025.
Latest Share Buy Back Transactions
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