SG Morning Highlights | Keppel Reit Q1 Net Property Income Rises 7.2% on Robust Operational Performance

Advancers / Decliners is 99 to 56, with 76.28 million securities worth S$75.12 million changing hands.

Deal activity in Singapore has dropped by 15% YoY in the first four months of 2024, including mergers and acquisitions, private equity, and venture financing deals, according to data from GlobalData. The entire Asia-Pacific region also saw a decline in deal volume, falling 9.3% YoY to 4,935 deals. Apart from Singapore, China, Japan, Australia, Malaysia, Hong Kong, Indonesia, and Thailand also saw declines in deal volume. However, the region's relatively modest decrease suggests resilience in the face of broader economic challenges, highlighting its potential for sustained growth in the deal landscape. Strategic dealmakers are advised to remain vigilant and identify pockets of value amidst the shifting market tides.

Maybank Investment Banking Group foresees the Johor-Singapore Special Economic Zone (SEZ) as unlocking opportunities and spurring trade, labour, investments, and green energy initiatives between the two countries. The SEZ is expected to create high-value added jobs, address talent and labour shortages, and ease the shortage of talent. Additionally, faster and streamlined connectivity is expected to attract more Johor workers to work at Singapore-based companies, as well as boost the appeal of the Malaysian city as a business hub. Experts also see the SEZ boosting the appeal of Singapore and Johor as a manufacturing base for multinational companies diversifying their supply chains away from China. Lastly, the analysts also see opportunities created in the green space, with the potential for joint investments in renewable energy projects.

Companies in Singapore scored high in terms of ethical culture, according to a new report by LRN Corporation. The "Benchmark of Ethical Culture 2024" revealed that Singapore scored 82%, higher than the global and APAC averages of 80%. The report surveyed over 8,500 employees in companies across 15 countries, 6% of which were from Singapore. Meanwhile, the report also revealed that 23% of employees around the world agreed that "it is OK to break the rules if needed to get the job done," and 14% said they "engaged in behavior that violated their company's Code of Conduct or standards" in the past year. The report noted that companies with strong ethical cultures have lower rates of observed misconduct and report their observation at a rate 1.5x higher than those in companies with weak cultures.