SG Morning Highlights | UG Healthcare Acquires 50% Stake in UG Nitrex for EUR500,000
Good morning mooers! Here are things you need to know about today's Singapore markets:
●Singapore shares opened higher on Thursday; STI up 0.36%
●Singapore Manufacturing Stocks See Near-One-Year High in Trading Volume
●Stocks to watch: OUE Reit, Yangzijiang Financial, UG Healthcare
●Latest share buy back transactions
-moomoo News SG
Market Snapshot
Singapore shares opened higher on Thursday. The $FTSE Singapore Straits Time Index(.STI.SG$ rose 0.36 percent to 3341.95 as at 9:12 am.
Advancers / Decliners is 99 to 38, with 83.63 million securities worth S$130.35 million changing hands.
Breaking News
Singapore Manufacturing Stocks See Near-One-Year High in Trading Volume
Trading of Singapore manufacturing stocks hit a near-one-year high in May, with the iEdge SG Advanced Manufacturing Index recording a 4.4% total return for the month. This outstripped the 2.6% total return of the STI as well as the 0.3% total return of the iEdge S-Index over the same period. Despite $60m in net institutional outflow in May, the higher trading activity of manufacturing stocks is attributed to an "increasingly cautiously optimistic outlook for industrial-driven global growth going into 2025, fueled by both innovation and sustainability shifts," according to the Singapore Exchange. The top 10 actively traded companies in the index with the most gains last month included Yangzijiang Shipbuilding, Mermaid Maritime, and Marco Polo Marine.
Stocks to Watch
$UGHealthcare(8K7.SG$: UG Healthcare Corporation has acquired a 50% stake in UG Nitrex, a Spanish company that sells and distributes reusable gloves for industrial applications and other personal protective equipment. The acquisition was completed for a consideration of EUR500,000 and includes the immediate ownership of licenses, certifications, and trademarks for over a hundred of UG Nitrex's portfolio of reusable gloves. UG Nitrex will be accounted for as a joint venture between UG Healthcare and the sellers of UG Nitrex. UG Healthcare has also entered into a put and call option agreement regarding the sellers' remaining shares in UG Nitrex, as well as a shareholder's agreement.
$OUEREIT(TS0U.SG$: The manager of OUE LJ3 REIT has priced $250 million of green notes under its $2 billion multicurrency debt issuance programme. The notes will bear an interest rate of 4.1% per annum and mature on June 14, 2027. The REIT and the notes are rated "BBB-" by S&P Global Ratings and are expected to be listed on the SGX on June 18. The net proceeds from the notes will go towards financing or refinancing eligible green projects that meet the REIT's green financing framework. OCBC is the sole global coordinator, while DBS Bank, HSBC, and ICBC are the joint lead managers and bookrunners of the offering, with OCBC also serving as the green finance adviser.
$YZJ Fin Hldg(YF8.SG$: Yangzijiang Financial Holding's maritime fund has entered into a strategic joint venture with Singapore-based Alpha Omega Marine to acquire MV One and Only, a 40,000 deadweight tonne Handymax dry bulk vessel. The vessel is rated a carbon intensity indicator of 'A' and is energy efficient. The acquisition was made considering a slowing supply of Handymax and Supramax bulk carrier vessels, as well as expected resilient demand for minor bulk transportation. The partnership with Alpha Omega Marine will mitigate financing and operational risks. The acquisition aligns with Yangzijiang Financial's objective to grow its assets under management for its maritime fund.
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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