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-- 96.620 SG Morning Highlights | ST Engineering's Unit Secures Contract to Upgrade Frigates for Singapore Navy
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Friday; STI up 0.08%
●Rise in long-term unemployment to 0.7% in September 'bears close monitoring': MOM
●Singapore to see commercial operation of battery-swapping electric motorcycles in 2024
●Stocks to watch: ST Engineering, Dasin Retail Trust
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.08 per cent to 3,125.40 as at 9.05 am.
Advancers / Decliners is 91 to 48, with 114.41 million securities worth S$108.69 million changing hands.
Breaking News
Rise in long-term unemployment to 0.7% in September 'bears close monitoring': MOM
JOB vacancies in Singapore fell in September, while third-quarter retrenchments rose as a sign of cooling labour demand in the Republic, the Ministry of Manpower's (MOM) latest labour market report showed on Thursday (Dec 14). The rise in the resident long-term unemployment rate to 0.7 per cent in September, from the eight-year low of 0.5 per cent in June, also "bears close monitoring", MOM said, even if it is comparable to the pre-Covid average of 0.7 per cent. Maybank senior economist Chua Hak Bin said the rise in numbers "bears watching but is not particularly alarming".
Singapore to see commercial operation of battery-swapping electric motorcycles in 2024
Companies with motorcycle fleets in Singapore may soon be able to charge their electric motorcycles at new charge-and-swap stations, with charging providers Gogoro and Mo Batteries aiming to switch to commercial operations next year. Both electric motorcycles and charge-and-swap stations have been in Singapore since early 2023, but only in limited numbers under the Land Transport Authority’s sandbox trial project. The trial involves charging station operators in partnership with local companies: Gogoro with foodpanda and Cycle & Carriage, and Mo Batteries with Singapore Post and Prosegur.
Stocks to Watch
$ST Engineering (S63.SG)$: ST Engineering, through its subsidiary ST Engineering Marine, has won a contract from Singapore's Ministry of Defence to upgrade the navy's formidable-class frigates. The value of the contract was not disclosed by the mainboard-listed company in its statement on Thursday (Dec 14). The technology and engineering group will undertake the design and engineering of the frigate's marine and electrical systems' upgrades, including the ship management system and power generation system.
$Dasin Retail Tr (CEDU.SG)$: Dasin Retail Trust Management, the trustee-manager of Dasin Retail Trust, will hold an extraordinary general meeting (EGM) by Jan 22, 2024 in relation to a requisition notice served by a group of 15 investors. The requisition notice has to do with the investors' plan to replace the current trustee-manager with a newly incorporated internal one. The new entity will be wholly owned by all unitholders of Dasin Retail Trust. On behalf of this group, unitholder Tao Naiqun had said in the letter issued in November that the minority investors were seeking to convene an EGM to approve the internalisation "as a matter of urgency".
Share Buy Back Transactions
Source: Business Times, SG investors
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Small bull : again, lousy sti drops when world stock mostly all up.
KB trader Small bull : Expected, SG will be hit by 2 fronts next year - a sluggish PRC economy and a US slowdown.. I suspect it will be a long drawn down cycle (multiple quarters) for Singapore