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-- 99.860 SG Morning Highlights | DBS and Other Asian Banks Tap US Dollar Bond Markets for US$4.75 Billion
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Thursday; STI down 0.11%
●DBS and other Asian banks tap US dollar bond markets for US$4.75 billion
●Singapore tax collection up 13.1% to S$68.6 billion in FY2023, reflects post-Covid recovery
●Stocks to watch: Del Monte, USP Group
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened lower on Thursday. The $FTSE Singapore Straits Time Index (.STI.SG)$ lost 0.11 per cent to 3,219.19 as at 9.03 am.
Advancers / Decliners is 61 to 51, with 26.47 million securities worth S$44.72 million changing hands.
Breaking News
DBS and other Asian banks tap US dollar bond markets for US$4.75 billion
At least two Asia Pacific banks, led by Commonwealth Bank and DBS Group, have aggressively tapped US dollar bond markets to raise US$4.75 billion in separate transactions, according to term sheets seen by Reuters.
Singapore tax collection up 13.1% to S$68.6 billion in FY2023, reflects post-Covid recovery
Singapore's tax revenue for financial year 2023 rose 13.1 per cent to S$68.6 billion compared to the year before. This reflects the economic recovery following the end of the Covid-19 pandemic, the Inland Revenue Authority of Singapore (Iras) said on Wednesday (Sep 6). Tax revenue collection rose across most tax types, the authority added. Corporate income tax (CIT), at S$4.9 billion, accounted for 62 per cent of the S$7.9 billion increase in tax collection, on the back of buoyant corporate earnings. CIT continued to make up the largest share of Iras' revenue collection, at 33.7 per cent, or S$23.1 billion.
Stocks to Watch
$Del Monte Pac (D03.SG)$: Canned-food brand Del Monte Pacific posted a net loss of US$13.1 million for the first fiscal quarter ended July, narrowing from its net loss of US$30.5 million in the corresponding year-ago period. The latest figure was due primarily to higher inflation levels and interest rates, which had hit the group's margins adversely, the company said. Loss per share stood at US$0.0067, down from US$0.0165 in Q1 FY2023.
$USP Group - watch list (BRS.SG)$: A DUO of minority shareholders of watchlisted USP Group, who claim to hold at least 10 per cent of the company's shares, are asking the group to convene an extraordinary general meeting (EGM) for a complete overhaul of its board of directors. The latest notice of requisition, posted by USP to the Singapore bourse on Wednesday (Sep 6) evening, calls for the removal of five directors from the date of the EGM.
Latest Share Buy Back Transactions
Source：Business Times, SG investors
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