SG Morning Highlights | Marina Bay Sands Said to Seek Up to S$10 Billion Loan for Growth

Singapore shares opened higher on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.26 per cent to 3,080.86 as at 9.16 am.

$IHH (Q0F.SG)$: IHH Healthcare on Thursday (Nov 30) reported earnings of RM532.1 million (S$152.7 million) for the third fiscal quarter ended September, more than double the earnings of RM251.8 million in the corresponding year-ago period. On a per-share basis, this translated to earnings of 6.04 sen, versus 2.78 sen in the previous year. For the nine-month period, IHH’s net profit was up 64 per cent year on year to RM2.2 billion, against RM1.4 billion.

$Venture (V03.SG)$: Venture Corporation said on Thursday (Nov 30) that its board of directors has established a share buyback plan to purchase up to 10 million ordinary shares of the company. This plan was authorised by the board on Nov 29, following the approval of Venture’s shareholders of the share purchase mandate at the annual general meeting on Apr 27, the company said in a bourse filing. Under the mandate, the company can buy up to about 14.5 million shares, which translates to 5 per cent of the total number of issued shares of the company as at the date of the mandate.

$Sheng Siong (OV8.SG)$: The way analysts see it, the increasing supply of BTO flats could be a catalyst for supermarket operators such as Sheng Siong Group. Analysts said that new spaces put up for tender by the Housing and Development Board (HDB) will enable the supermarket chain to expand its network of stores across the island. A recent UOB Kay Hian report noted that the statutory board has put out 23,000 BTO flats this year, up 34.5 per cent from 17,100 in 2021.

$StarhillGbl Reit (P40U.SG)$: Starhill Global Reit has renewed its current master lease with Takashimaya manager Toshin Development Singapore due to expire in June 2025 for an initial term of 12 years. The Reit manager announced this in a bourse filing on Thursday (Nov 30). Beyond its expiry on Jun 7, 2037, the master lease may be further renewed by either party for an additional six years, and for a further three years thereafter, at the option of Toshin.