SG Morning Highlights | Singapore Central Bank Fines DBS, OCBC Over Breaches
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened flat on Thursday; STI down 0.06%
●Government bumps up supply of private homes for full-year 2023 to highest in a decade
●Stocks to watch: DBS, OCBC, Keppel, Penguin
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened flat on Thursday. The $FTSE Singapore Straits Time Index (.STI.SG)$ lost 0.06 per cent to 3,221.72 as at 9.25 am.
Advancers / Decliners is 77 to 89, with 83.71 million securities worth S$110.68 million changing hands.
Breaking News
The mood was sombre Wednesday morning (Jun 21) as Grab employees – survivors of its mass layoff – logged into a virtual company-wide town hall.
Top of their minds was a question bugging them since the night before, when their chief executive Anthony Tan announced Grab was letting over 1,000 people go: Will there be a second wave of retrenchments?
Tan avoided giving a straight answer, said one source who was present at the meeting.
He told employees that it was important to keep improving the company's structure as the environment around them changed, said the source, who spoke to The Business Times on condition of anonymity.
The government has pulled its second lever in as many months to aid in its quest for a sustainable property market.
It announced on Wednesday (Jun 21) a sixth consecutive increase in the supply of private homes on the confirmed list of the half-yearly Government Land Sales (GLS) programme. This brings the total confirmed-list supply of private housing units – including executive condo (EC) units – for 2023 to its highest in a decade, at 9,250.
The most recent cooling measures took effect on Apr 27.
Stocks to Watch
$Keppel (BN4.SG)$: Keppel Corporation has clinched a contract to design, build, own and operate a new large-scale district cooling system (DCS) plant for 30 years, during which the conglomerate expects to generate about S$950 million.
In a bourse statement filed on Tuesday (Jun 20), Keppel said the deal won by its infrastructure division from the Urban Redevelopment Authority is for a DCS plant in the Jurong Lake District.
The plant will have a design capacity of 29,000 refrigeration tonnes (RT) to supply chilled water and related services to an estimated 1.4 million-square-metre gross floor area and is intended to serve future developments in the district, including offices, business parks, residential, retail, hotel and institutional uses.
$DBS (D05.SG)$, $OCBC Bank (O39.SG)$: Singapore's central bank on Wednesday said it had imposed fines collectively worth S$3.8 million ($2.83 million) on lenders Citibank, DBS and OCBC and insurer Swiss Life, for breaching requirements on anti-money laundering and countering terrorism financing.
The Monetary Authority of Singapore (MAS) said it discovered inadequate controls in place when looking into the alleged involvement of Singapore-based individuals in a fraud case centred on collapsed payments firm Wirecard.
$Penguin Intl (BTM.SG)$: Penguin International's senior management and private equity backer hope it proves second time lucky in their attempt to take the Singapore-listed shipyard group private.
Executive chairman Jeffrey Hing and private equity outfit Dymon Asia have offered shareholders SGD 0.82 (61 US cents) per share in an offer set to close this evening (Thursday) at 5pm Singapore time.
This is the second attempt to take the builder of fast ferries and offshore wind industry vessels private in less than three years.
Latest Share Buy Back Transactions
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ATS A trade sniper : more selling
102833286 ATS A trade sniper : if more EC released, does that mean more borrowing from banks? Noob here. please enlighten
101676220 : Mas fines dbs but share price still move up, Ocbc very lousy
ATS A trade sniper 101676220 : selling ocbc
101676220 ATS A trade sniper : No eyes see it
tankeng : lame index, all the gains last week has dropped.