SG Morning Highlights | Yangzijiang Shipbuilding Bags US$770 Million of Order Wins in Q3 2023
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Friday; STI up 1.31%
●Singapore's AUM falls 10% to S$4.9 trillion in 2022: MAS
●Stocks to watch: Manulife US Reit, SIAEC, Yangzijiang Shipbuilding, AA Reit
●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 1.31 per cent to 3,122.79 as at 9.06 am.
Advancers / Decliners is 161 to 38, with 124.07 million securities worth S$143.70 million changing hands.
Breaking News
Singapore's AUM falls 10% to S$4.9 trillion in 2022: MAS
Singapore's assets under management (AUM) declined by 10 per cent to S$4.9 trillion in 2022 from S$5.4 trillion the year prior. Based on the Monetary Authority of Singapore's (MAS) annual update of the country's asset management industry released on Thursday (Nov 2), this was in tandem with an overall decline in global AUM, and driven primarily by a fall in asset valuation. Out of Singapore's AUM for 2022, 76 per cent of funds were sourced from beyond the Republic, while 88 per cent of funds were invested into assets outside the country.
Stocks to Watch
$ManulifeReit USD (BTOU.SG)$: Manulife US Reit posted an occupancy rate of 84.7 per cent as at the end of September, 3.4 percentage point lower than the 88.1 per cent for the same period last year. The unencumbered gearing ratio for Q3 had been lowered to 59.9 per cent, below the 60 per cent limit, said the manager in a business update on Friday (Nov 3). As lowering the unencumbered gearing ratio does not rectify the breach of the financial covenant, the manager said it is still negotiating with lenders on the waiver of the breach.
$SIA Engineering (S59.SG)$: SIAEC SIA Engineering Company recorded an 82.6 per cent increase in profit to S$59.3 million for the six months ended Sep 30, 2023, from S$32.5 million the year before. Revenue rose 41.9 per cent to nearly S$514 million in H1, from S$362.2 million a year ago, on the back of a rebound in the travel sector, with flight activities growing post-pandemic, said the group in a bourse filing on Thursday (Nov 2). This brings earnings per share to 5.28 Singapore cents, up from 2.89 Singapore cents the previous year.
$YZJ Shipbldg SGD (BS6.SG)$: Yangzijiang Shipbuilding secured US$770 million of order wins for the third quarter of its 2023 financial year. This brings the total order wins for the first nine months of the current FY to US$6.54 billion, more than double its US$3 billion target for the whole FY. The shipbuilder said in a business update on Thursday (Nov 2) that it has hit a record high order book of US$14.8 billion year to date and delivered 42 vessels out of its target of 57 for the whole year.
$AIMS APAC Reit (O5RU.SG)$: AA Reit distribution per unit (DPU) for the first half ended September fell 1.1 per cent to $0.0465 from its H1 FY2023 DPU of S$0.047, despite registering topline growth for the period. Revenue for H1 FY2024 grew 4.4 per cent to S$86.8 million from S$83.2 million a year prior. This was driven by higher rental and recoveries from the real estate investment trust’s logistics, warehouse and industrial properties. This more than offset lower revenue from its Australia properties due to the weakening of the Australian dollar.
Share Buy Back Transactions
Source：Business Times, SG investors
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