SG Morning Highlights | Singapore Exchange Regulation Lifts UOB Kay Hian's Moratorium on IPO and RTO Management

Moomoo News SG wrote a column · Oct 18, 2024 09:09

SG Morning Highlights | Singapore Exchange Regulation Lifts UOB Kay Hian's Moratorium on IPO and RTO Management

Good morning mooers! Here are things you need to know about today's Singapore markets:

● Singapore shares opened higher on Friday; STI up 0.05%

● Modest Growth in Prime Retail Rents Observed in August

● Singapore Dominates FinTech Investment in Southeast Asia

● Stocks to watch: UOB Kay Hian, Keppel DC Reit, FLCT, etc.

● Latest share buy back transactions

- Moomoo News SG

Market Snapshot

Singapore shares opened higher on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.05 percent to 3626.93 as at 9:08 am.

Advancers / Decliners is 73 / 61, with 71.43M million securities worth S$90.25M million changing hands.

Breaking News

Modest Growth in Prime Retail Rents Observed in August

In August, the overall average gross prime retail rents experienced a 2.7% increase year-on-year (YoY) and a marginal 0.1% rise quarter-on-quarter (QoQ), as reported by Knight Frank. The sectors within Marina Centre, City Hall, and Bugis showcased the most significant annual growth, climbing 3.3% to reach $25.50. Concurrently, the City Fringe market saw the largest quarterly growth, with rents escalating by 0.4% to $23.40. Notably, the highest increment per square foot per month (psf pm) occurred in the Orchard area, where rents advanced to $30.70.

Singapore Dominates FinTech Investment in Southeast Asia

In the third quarter, Singapore secured nearly half (49%) of all FinTech investment in Southeast Asia, amassing US$157.7m. Following Singapore, Jakarta, Indonesia, and Taguig, Philippines, garnered significant funds, raising US$103.2m and US$8.6m, respectively. Market tracker Tracxn reports that three of the top five funding rounds in this period featured Singapore-based companies: Partior (US$60m - Series B), SDAX (US$50m - Series B), and WSPN (US$30m - Seed). In venture capital activity, Singapore's TNB Aura and Farquhar Venture Capital ranked as the third and fourth most active seed investors. Meanwhile, Temasek held the second position in early-stage investments.

Stocks to Watch

The Singapore Exchange Regulation has, on Thursday, lifted the brokerage moratorium for $UOB Kay Hian (U10.SG)$, previously restricting its involvement in managing new initial public offerings (IPO) and reverse takeovers (RTO) submissions. This reinstatement enables UOB Kay Hian to act as issue manager and full sponsor for IPOs and RTOs on the local exchange. Prior to this development, the company's shares closed at S$1.59, marking a slight increase of S$0.01 or 0.6 percent.

$Keppel DC Reit (AJBU.SG)$ reported a marginal 0.4 percent rise in its third-quarter distribution per unit to S$0.02501, up from S$0.02492 in the comparable period last year. The increase is attributed to higher rental income from significant reversions and a partial settlement distribution received earlier in the year, along with contributions from its Tokyo data center, as stated in a business update on Friday. The REIT's shares saw a decline, closing 0.9 percent lower at S$2.22 on Thursday.

$Frasers L&C Tr (BUOU.SG)$ is poised to expand its portfolio through the acquisition of a six-storey ramp-up logistics facility located in Tuas, with a purchase price of S$140.3 million. This strategic acquisition is expected to be finalized by the first quarter of FY2025, enhancing FLCT's holdings in logistics and industrial assets from 70.9 per cent to 71.5 per cent of its total portfolio. Prior to this announcement, shares of FLCT remained unchanged at S$1.12 on Thursday.

Share Buy Back Transactions