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-- 79.060 SG Morning Highlights | Seatrium Secures S$100 Million in Contracts for Marine Repairs and Upgrades
Good morning mooers! Here are things you need to know about today's Singapore markets:
● Singapore shares opened lower on Tuesday; STI down 0.52%
● Singapore Explores Virtual Power Plants and Enhances Grid Capabilities
● Securitisation Key to Boosting Singapore Developers' Returns, DBS Reports
● Stocks to watch: Keppel, Sembcorp, Seatrium, Keppel Reit, AcroMeta, etc.
● Latest share buy back transactions
- Moomoo News SG
Market Snapshot
Singapore shares opened lower on Tuesday. The $FTSE Singapore Straits Time Index (.STI.SG)$ lost 0.52 percent to 3595.72 as at 9:03 am.
Advancers / Decliners is 41 / 76, with 40.00M million securities worth S$62.41M million changing hands.
Breaking News
Singapore Explores Virtual Power Plants and Enhances Grid Capabilities
The Energy Market Authority (EMA) of Singapore is setting up a regulatory sandbox to test virtual power plants (VPPs), which integrate distributed energy resources like solar panels and battery storage to function as a single power generator. In collaboration with SP Group, EMA is developing a 15MW VPP to participate in the electricity market. This initiative is part of broader efforts to upgrade the grid, including expanding the demand-response program to include more sectors and exploring carbon capture and storage (CCS) to reduce reliance on natural gas. These developments were announced at the Singapore International Energy Week by Deputy Prime Minister Gan Kim Yong, aligning with Singapore's goal for a sustainable and secure energy future.
Securitisation Key to Boosting Singapore Developers' Returns, DBS Reports
DBS highlights that Singapore property developers could significantly enhance their financial returns and asset valuations by exploring securitisation options such as spinning off mature assets into a REIT or restructuring into a stapled security. This approach could potentially increase valuations by at least 20%, particularly for developers with assets evenly split between development and recurring income. A stapled trust, combining REIT and development components, allows developers to maintain control while benefiting from more tax-efficient, REIT-like valuations. Developers like UOL Group, GuocoLand, Hobee Land, and Hong Kong Land, which currently trade below historical averages, could particularly benefit from such strategies to unlock greater shareholder value.
Stocks to Watch
$Keppel (BN4.SG)$: Keppel Corporation (Ticker: BN4) has announced that its private fund, managed by the company's asset management arm, is entering into a joint venture with Digital Decarbonization Solutions Platform to construct an 80-megawatt greenfield data centre campus in northern Taiwan. This strategic move is influenced by Keppel's positive outlook on the utilization rates within the Taiwanese data centre market, indicating robust demand and growth potential in the region. Prior to this announcement, shares of Keppel closed Monday down by 0.3%, or S$0.02, at S$6.45.
$Sembcorp Ind (U96.SG)$: Sembcorp Industries (Ticker: U96) has announced a significant partnership through its wholly owned subsidiary, Sembcorp Utilities, with an Indonesian government-owned electricity producer, PLN’s sub-holding company, to develop a green hydrogen production facility. This collaboration marks a strategic move as part of a larger initiative aimed at establishing a regional green hydrogen hub that will connect Sumatra, the Riau Islands, and Singapore. Despite this positive development, Sembcorp Industries' shares experienced a slight decline, closing down 0.2% or S$0.01 at S$5.51 on Monday.
$Seatrium Ltd (5E2.SG)$: Seatrium, an offshore and marine specialist, has announced securing contracts valued at S$100 million for repairs and upgrades, with completion targeted by the first quarter of 2025. The company, listed under the ticker 5E2, reported that these contracts were awarded by various longstanding partners and regular customers. Despite the positive news, Seatrium's shares closed slightly lower on Monday, dropping by S$0.01 or 0.5%, ending the day at S$1.97.
$Keppel Reit (K71U.SG)$: Keppel REIT (Ticker: K71U) announced a 1.9% decrease in distributable income to S$160.6 million for the first nine months of the fiscal year, impacted primarily by higher borrowing costs. This decline occurred despite a 10.8% increase in net property income to S$148.5 million, driven by robust operational performance and contributions from acquisitions at 2 Blue Street and 255 George Street. The REIT's shares remained steady, closing flat at S$0.94 on Monday.
$AcroMeta (43F.SG)$: AcroMeta, a Catalist-listed specialist engineering company (Ticker: 43F), has agreed to sell all its shares in its life-sciences business for S$2.7 million as part of a strategic review aimed at focusing on future growth. The company stated that this divestiture will help unlock value for further expansion. Shares of AcroMeta remained unchanged, closing at S$0.29 on Monday.
$ParkwayLife Reit (C2PU.SG)$: Parkway Life Real Estate Investment Trust (Ticker: C2PU) has called for a trading halt on Tuesday morning, pending the release of important announcements. The trading halt comes after the REIT's shares closed flat at S$3.99 on Monday. Investors are advised to await further details regarding the nature of the upcoming announcements.
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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Alice Lim choo : good