SG Morning Highlights | Singtel to Sell 20% Stake in Regional Data Centre Business to KKR for S$1.1 Billion
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened slightly lower on Monday; STI down 0.01%
●Singapore's key exports down 20.1% in August in 11th straight month of decline
●Stocks to watch: Singtel, CapitaLand Investment, SIA, First Sponsor
●Latest share buy back transactions
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Market Trend
Singapore shares opened slightly lower on Monday. The $FTSE Singapore Straits Time Index (.STI.SG)$ lost 0.01 per cent to 3,280.44 as at 9.12 am.
Advancers / Decliners is 60 to 71, with 104.38 million securities worth S$85.17 million changing hands.
Breaking News
Singapore's key exports down 20.1% in August in 11th straight month of decline
Singapore's non-oil domestic exports (NODX) slid 20.1 per cent in August, extending July's 20.3 per cent contraction, data from Enterprise Singapore (EnterpriseSG) showed on Monday (Sep 18). August’s print marked the 11th straight month of contraction, with both electronics and non-electronics exports continuing to decline on a year-on-year basis. On a seasonally-adjusted monthly basis, NODX dropped 3.8 per cent in August, extending the preceding month's 3.5 per cent contraction. Both electronics and non-electronics shipments declined month on month.
Stocks to Watch
$Singtel (Z74.SG)$ : KKR will commit up to S$1.1 billion for a 20 per cent stake in Singtel's regional data centre business. On Monday (Sep 18), a fund managed by KKR, Stellar Asia Holdings II, entered into an agreement with Singtel for the investment in ST Dynamo Investment, the holding company for Singtel’s regional data centre (RDC) business. This investment puts the enterprise value of Singtel’s overall RDC business at S$5.5 billion. KKR will, however, have the option to increase its stake to 25 per cent by 2027 at the pre-agreed valuation.
$CapitaLandInvest (9CI.SG)$ : CapitaLand Investment(CLI) on Monday (Sep 18) said its regional private fund acquired a logistics property in Anseong, South Korea, for S$112 million. The move brings the funds under management of the private regional entity, called CapitaLand Open End Real Estate Fund (Coref), to more than S$1 billion, the property investment manager said in a press statement. It also brings the number of South Korean assets under CLI’s portfolio to 13, comprising five logistics assets, four office assets, and four data centres under development.
$SIA (C6L.SG)$ :National carrier Singapore Airlines and its budget arm Scoot flew 34,900 fewer passengers in August compared to July, and their load factors also slipped marginally. The group passenger load factor hit 88.2 per cent in August, with the full-service carrier and its budget arm posting 87 per cent and 92.1 per cent respectively for the metric that measures the percentage of available seating capacity filled by paying passengers. Passenger capacity of both carriers last month was 0.3 per cent lower than July’s.
$First Sponsor (ADN.SG)$ : First Sponsor and its units have acquired an office building in Rotterdam at an agreed commercial value of 62 million euros (S$90.6 million). On Monday (Sep 18), the property developer said that the value excludes debt, as well as the cost for certain capex works and inspection works for the property. The leasehold property is Allianz Tower, an office building in Rotterdam, Netherlands, with an area of 19,607 square metres.
Latest Share Buy Back Transactions
Source：Business Times, SG investors
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