SG Morning Highlights | CapitaLand Investment Acquires 40% Stake in SC Capital Partners for S$280 Million
Good morning mooers! Here are things you need to know about today's Singapore markets:
● Singapore shares opened lower on Wednesday; STI down 0.48%
● Singapore's IPO Market Poised for Growth in 2025 Led by Strong REIT Sector
● Government Land Sales to Remain Active in 2024 with Strong Developer Interest
● Stocks to watch: CLI, Keppel DC Reit, Koh Brothers Eco, etc.
● Latest share buy back transactions
- Moomoo News SG
Market Snapshot
Singapore shares opened lower on Wednesday. The $FTSE Singapore Straits Time Index (.STI.SG)$ dropped 0.23 percent to 3749.50 as at 9:26 am.
Advancers / Decliners is 121 / 61, with 205.35M securities worth S$175.11M changing hands.
Breaking News
Singapore's IPO Market Poised for Growth in 2025 Led by Strong REIT Sector
Singapore's IPO market is anticipated to experience significant growth in 2025, particularly in the REIT sector, bolstered by favorable regulatory efforts and economic stabilization. Deloitte emphasizes the city-state's strong framework and reliable market as key attractions for investors. In contrast, Southeast Asia faced a decline in IPO activities in 2024, with Malaysia emerging as a regional leader in terms of IPOs and funds raised, largely supported by the consumer and energy sectors.
Government Land Sales to Remain Active in 2024 with Strong Developer Interest
The Government Land Sales (GLS) market in Singapore is projected to remain vibrant in 2024, fueled by robust developer interest and a significant 30.2% increase in total investment sales to $8.2 billion in the third quarter. The residential sector led these contributions, primarily through GLS tenders. Despite this positive trend, not all bids met expectations, with some sites like Jurong Lake District and Media Circle not being awarded due to lower-than-anticipated bids. The anticipated Fed rate cuts have maintained strong investor interest, although concerns over negative yield spreads have led some to adopt a more cautious stance.
Stocks to Watch
$CapitaLandInvest (9CI.SG)$: CapitaLand Investment (CLI) has announced its acquisition of a 40% stake in SC Capital Partners, a real estate investment manager based in Singapore, for S$280 million. CLI also plans to gradually acquire the remaining 60% stake over the next five years and intends to invest a minimum of S$524 million into SC Capital’s fund strategies. This strategic move is aimed at bolstering the growth of CLI's platform. Following the news, CLI's shares saw an increase, closing 0.7% higher at S$2.81 on Tuesday.
$Keppel DC Reit (AJBU.SG)$: Keppel DC Real Estate Investment Trust (Keppel DC REIT) has successfully concluded its private placement, issuing 334.9 million new units priced at S$2.09 each. The REIT manager announced that the placement was upsized, increasing the total equity fundraising to approximately S$1.1 billion from an initial S$985 million. Despite a slight decline of 0.5% or S$0.01, closing at S$2.19 on Monday, Keppel DC REIT had paused trading on Tuesday morning, with trading set to resume on Wednesday.
$Koh Eco (5HV.SG)$: Koh Brothers Eco Engineering has announced a significant win with a S$77.6 million contract awarded by Sport Singapore (SportSG), through its subsidiary, Koh Brothers Building & Civil Engineering Contractor. This new contract, along with other orders secured since June 30, is expected to boost the group's order book to around S$585.7 million, extending through 2027. Despite this positive development, Koh Brothers Eco’s shares remained unchanged, closing at S$0.029 prior to the announcement.
$GuocoLand (F17.SG)$: GuocoLand, in collaboration with TID Residential and Intrepid Investments, secured the highest bid at a government tender for a private housing site slated for approximately 400 units in Faber Walk. Their successful bid of S$349.9 million, which translates to a land rate of about S$900 per square foot per plot ratio, outpaced two other competing groups. Despite this strategic acquisition in the Clementi area, GuocoLand's shares remained unchanged, closing at S$1.47 following the announcement.
$Frencken (E28.SG)$: Frencken Group, a key player in the semiconductor industry, reported a significant 29.3% increase in profits, reaching S$9.2 million for the quarter ending September 30, up from S$7.1 million in the same period last year. The company also saw a 7.7% rise in revenue, which totaled S$198.6 million, driven primarily by the higher output from its mechatronics division. Prior to this announcement, Frencken's shares experienced a 1.7% increase, closing at S$1.20.
Share Buy Back Transactions
Source: Business Times, SGinvestors.io, Business Review
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101572240 : Huat ah
105671137 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
TCCZZZ : Koh Eco stake in Oiltek already more than its market cap.
104556909 : ok