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-- 119.210 SG Morning Highlights | Thomson Medical Gets Further Grace Period of 1 Month to Restore Public Float
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Friday; STI up 0.62%
●Singapore, China to start 30-day visa-free travel in early 2024
●MAS seeks feedback on moves to beef up protection scheme when an insurer fails
●Enhancements to FTA among 24 deals signed to deepen Singapore, China cooperation
●Stocks to watch: Thomson Medical, Sasseur Reit, ValueMax, Cordlife
●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 0.62 per cent to 3,093.46 as at 9.05 am.
Advancers / Decliners is 113 to 44, with 147.46 million securities worth S$91.40 million changing hands.
Breaking News
Singapore, China to start 30-day visa-free travel in early 2024
Singapore and China are looking to establish a mutual 30-day visa exemption arrangement, as the two nations seek to push travel back to and beyond pre-Covid levels. According to Singapore's Ministry of Foreign Affairs, both countries will work out the implementation details and implement it in early 2024.
MAS seeks feedback on moves to beef up protection scheme when an insurer fails
The Monetary Authority of Singapore (MAS) is seeking feedback on a set of changes to the policy owners’ protection (PPF) scheme to enhance coverage and improve efficiency of the scheme through a consultation paper published on Thursday (Dec 7). The changes proposed include extending the scheme to cover mandatory third-party liability insurance that businesses purchase for specified mobility devices such as bicycles, personal mobility devices, power-assisted bicycles, motorised wheelchairs or mobility scooters.
Enhancements to FTA among 24 deals signed to deepen Singapore, China cooperation
Singapore and China are enhancing the China-Singapore Free Trade Agreement (CSFTA) with more business-friendly and transparent rules, to deepen bilateral trade and investment links. This is under the CSFTA Further Upgrade Protocol, which was presented with 23 other signed agreements during the 19th Joint Council for Bilateral Cooperation (JCBC) on Thursday (Dec 7). The agreements span a wide range of areas, including food security, health, energy and finance.
Stocks to Watch
$Thomson Medical (A50.SG)$: Thomson Medical has obtained from the Singapore Exchange an extension of one month to Jan 10, 2024 to explore options to restore the public float without suspending trading in its shares. In a filing on Thursday (Dec 7), the medical services provider also set out the conditions for the grace period from the bourse operator – to continue monitoring the public float and trading activity in its shares, and to immediately request a trading halt if there is any indication of disorderly trading. Earlier, the frontline regulator had granted Thomson Medical three months to Dec 10, 2023 for the public float to be restored.
$Sasseur Reit (CRPU.SG)$: A Sasseur Real Estate Investment Trust (Reit)'s wholly-owned subsidiary has extended an unsecured interest-bearing loan of 308 million yuan (S$58.1 million) from its sponsor by a year, the Reit’s manager announced on Thursday (Dec 7). In a filing to the Singapore Exchange, Sasseur Asset Management said that the loan from a wholly-owned subsidiary of sponsor Sasseur Cayman Holding has been extended by another year from March 2024 to March 2025.
$ValueMax (T6I.SG)$: Pawnbroking chain ValueMax Group has launched three commercial papers on two digital asset exchanges. It is expecting to raise between S$35 million and S$120 million in total from the unsecured short-term debts, all priced at 5 per cent per annum. In two filings to the Singapore Exchange on Thursday (Dec 7), ValueMax announced the launch of a three-month commercial paper in digital securities on the SDAX Exchange and another three-month and a four-month digital commercial papers on the ADDX Exchange.
$Cordlife (P8A.SG)$: Cordlife's storage of cord blood units at its facility in Singapore "will not" be impacted by the indefinite suspension of accreditation by the Foundation for the Accreditation of Cellular Therapy, the consumer healthcare company said. In a filing to the Singapore Exchange late on Thursday (Dec 7), Cordlife Group also said that the investigation by the Association for the Advancement of Blood & Biotherapies will not impact the storage of cord blood units at Cordlife Singapore. The Association for the Advancement of Blood & Biotherapies had said in a statement that it is continuing to collect relevant information to help it decide on the accreditation status of the Cordlife facility.
Share Buy Back Transactions
Source: Business Times, SG investors
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