SG Morning Highlights | OUE REIT Issues S$180 Million in Green Notes
Good morning mooers! Here are things you need to know about today's Singapore markets:
● Singapore shares opened lower on Friday; STI down 0.13%
● Singapore Aims to Lead in Precision Medicine
● HDB Rents See Mixed Movements in August
● Stocks to watch: OUE Reit, TalkMed
● Latest share buy back transactions
- Moomoo News SG
Market Snapshot
Singapore shares opened lower on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ dropped 0.13 percent to 3628.60 as at 9:03 am.
Advancers / Decliners is 72 to 68, with 70.07 million securities worth S$108.48 million changing hands.
Breaking News
Singapore Aims to Lead in Precision Medicine
Singapore is poised to be a leader in precision medicine, leveraging its strong research capabilities and robust biomedical industry. With initiatives like Nalagenetics' personalized pharmacogenomics and Mesh Bio's advanced computational biology, the city-state is capitalizing on its diverse population and technological advancements to tailor healthcare treatments to individual genetic profiles. This approach not only enhances patient care but also positions Singapore at the forefront of global healthcare innovation.
HDB Rents See Mixed Movements in August
In August, HDB rents experienced a slight decline of 0.4% month-on-month, yet they showed a robust increase of 4.2% year-on-year, according to data from 99.co and SRX. This downturn affected most room types and estates, with mature estates seeing a 0.5% drop and non-mature estates a 0.4% decrease. However, the year-on-year analysis revealed growth across all room categories, with Executive apartments recording the highest rise at 5.9%. Rental volumes also decreased, falling by 12.3% MoM and 13.4% YoY, reflecting a lower transaction volume compared to the five-year average for August.
Stocks to Watch
$OUEREIT (TS0U.SG)$: OUE Real Estate Investment Trust (OUE REIT) has successfully priced S$180 million in fixed-rate green notes due 2031 at a rate of 3.9%, as announced by its manager on Thursday. The net proceeds from the issuance are designated for refinancing or funding projects that meet green eligibility criteria. DBS and OCBC acted as joint lead managers and bookrunners for this issuance, with OCBC also serving as the sole global coordinator and green finance adviser to OUE REIT. Prior to this announcement, units of OUE REIT experienced a slight decline, closing 1.5% lower at S$0.32.
$TalkMed (5G3.SG)$: TalkMed Group, a provider of tertiary healthcare services, announced that discussions regarding a potential acquisition of a stake in the company are still in the preliminary stages. The mainboard-listed company emphasized that there is no certainty that the transaction will materialize. TalkMed has committed to keeping shareholders informed about any significant developments and advised them to refrain from taking any action concerning its shares based on the current discussions. Prior to this announcement, TalkMed's stock price fell by S$0.005, closing 1.2 percent lower at S$0.40.
Share Buy Back Transactions
Source: Business Times, SGinvestors.io, Business Review
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