SG Morning Highlights | Mapletree Logistics Trust Announces Proposed Divestment of Malaysian Warehouse Properties
Good morning mooers! Here are things you need to know about today's Singapore markets:
● Singapore shares opened higher on Wednesday; STI up 0.36%
● STI Reaches 52-Week Peak; Singtel Climbs 3.2%
● Singapore's Property Market Among the World's Most Transparent, According to JLL
● Stocks to watch: Mapletree Logistics Trust, Sabana Reit, Q&M Dental, Del Monte Pacific
● Latest share buy back transactions
- Moomoo News SG
Market Snapshot
Singapore shares opened higher on Wednesday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.36 percent to 3525.33 as at 9:04 am.
Advancers / Decliners is 67 to 47, with 30.16 million securities worth S$72.54 million changing hands.
Breaking News
STI Reaches 52-Week Peak; Singtel Climbs 3.2%
The Straits Times Index (STI) achieved a 52-week intraday high, soaring to 3,523.47 points on Tuesday (Sep 10). The index also marked its highest annual closing at 3,512.67, an increase of 0.5 percent or 16.14 points.
The rise in Singapore's stock market was in line with broader gains across Asian markets, which seemed to be influenced by the strong performance of the three major Wall Street indices the previous evening.
Singapore's Property Market Among the World's Most Transparent, According to JLL
Singapore has been recognized as one of the world's "highly transparent" real estate markets, according to the JLL Global Real Estate Transparency Index released in September 2024. Ranking 13th among 89 international markets, Singapore achieved a composite score of 1.92. This places it ahead of Hong Kong SAR (15th; 1.97) but behind Australia (4th; 1.37), New Zealand (7th; 1.59), and Japan (11th; 1.83) within the Asia-Pacific region. The United Kingdom leads globally as the most transparent market, scoring 1.24, followed by France (1.26) and the United States (1.34).
Stocks to Watch
$Mapletree Log Tr (M44U.SG)$ has announced plans through its management to sell three of its warehouse properties in Malaysia for RM157.5 million (S$47.7 million). These proposed sales are anticipated to be finalized by FY2025. Prior to this announcement, shares of Mapletree Logistics Trust experienced a slight increase, rising 0.7% to close at S$1.43.
$Sabana Reit (M1GU.SG)$ has successfully secured its inaugural tenant for the Sabana@1TA4 building located at 1 Tuas Avenue 4. This new occupancy is projected to begin contributing to revenues starting from the first quarter of 2025. Shares of Sabana Reit remained unchanged at S$0.35 just before the announcement was made.
$Q&M Dental (QC7.SG)$ announced its plan to purchase Veritas Dental, a dental clinic in Bukit Timah, for S$800,000 on Wednesday. The acquisition, to be carried out directly or via a wholly owned subsidiary, supports Q&M's strategy to expand its primary dental operations in Singapore. Shares of Q&M increased by 1.8% or S$0.005, closing at S$0.28 on Tuesday.
$Del Monte Pac (D03.SG)$ reported a deepening net loss of US$34.2 million for the quarter ending July 31, a significant increase from last year's loss of US$13.1 million. The company cited poor performance by its U.S. subsidiary, Del Monte Foods, and rising interest expenses as reasons. The stock ended Tuesday down 1.1% or S$0.001 at S$0.088, just before the earnings announcement.
$Dyna-Mac (NO4.SG)$ requested a trading halt on Wednesday morning, pending a forthcoming announcement. The shares of the offshore oil and gas contractor had previously fallen by 2% or S$0.01, concluding at S$0.495 on Tuesday.
Share Buy Back Transactions
Source: Business Times, SGinvestors.io, Business Review
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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102188459 : Thank you
101572240 : Divestment is good