SG Morning Highlights | CapitaLand Investment Secures S$350 Million at 3.58% for Senior Notes

Singapore shares opened higher on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 1.18 percent to 3298.62 as at 9:13 am.

$CapitaLandInvest (9CI.SG)$: CapitaLand Investment (CLI) has successfully priced S$350 million in senior notes at a fixed rate of 3.58% due 2035, as part of its S$6 billion euro medium-term note program initiated by its wholly-owned subsidiary CLI Treasury Limited. The proceeds from the issuance, expected to be dated August 22, will be allocated towards refinancing existing debts and supporting CLI's investments and general corporate purposes. UOB acts as the sole lead manager and bookrunner for the transaction.

$Cordlife (P8A.SG)$: Cordlife Group has swung into a S$12.4 million loss for H1, a stark contrast to the S$2.2 million profit from the previous year, as revenue plummeted by 67.5% to S$9.2 million. This downturn is primarily due to the suspension of its Singapore operations after storage lapses led to the Ministry of Health issuing a six-month suspension in November 2023, followed by an additional three-month halt. Compounding their woes, the Association for the Advancement of Blood & Biotherapies (AABB) has revoked Cordlife's accreditation for cord-blood activities. The company is taking corrective steps, including forming an oversight committee and a technical advisory board, and reallocating funds intended for strategic investments to address the current challenges. Cordlife’s shares dipped before the announcement, signaling investor concern over the company's recent operational issues and loss of accreditation.

$UOB Kay Hian (U10.SG)$: UOB Kay Hian reported a 64.3% increase in H1 profits to S$113.9 million, driven by strong US equity markets and higher trading volumes. Revenue was up 10.2% at S$317.1 million. Despite a dip in interest income, commissions and trading income rose 18.8% to S$166 million, and operational costs were reduced.