Good morning moomooers! Here are things you need to know about today's Singapore:

• Singapore stocks fall at open, tracking Wall Street retreat; STI down 0.5%

• ST Engineering obtains more than S$1.55b in new contracts in Q1

• CapitaLand reports improving operational performance for Q1

• Stocks to watch: ST Engineering, CapitaLand, Keppel, Frasers Property, Riverstone, EC World Reit
  

-Moomoo News SG

Market Trend

Singapore shares opened weaker on Wednesday following overnight losses on Wall Street amid inflation fears.

The weaker opening also comes as the Republic sees a continued climb in community cases of Covid-19, as well as rising worries on the impact of restricting the inflow of foreign workers from higher-risk countries on certain sectors.

$FTSE Singapore Straits Time Index(.STI.SG)$ fell 0.5 per cent or 16.29 points to 3,127.98 as at 9.06am. Losers outnumbered gainers 99 to 70, after 119 million securities worth S$146.2 million changed hands.

The most active counter by volume was $SUNTEC REAL EST(SURVF.US)$, which dropped 2 per cent or S$0.03 to S$1.47, with 8.6 million units changing hands as at 9.08am.

Breaking News

ST Engineering obtains more than S$1.55b in new contracts in Q1

$ST Engineering(S63.SG)$ on Wednesday said it obtained more than S$1.55 billion worth of new contracts in the first quarter of 2021.

The engineering conglomerate's defence and public security segment bagged the most contracts, bringing in S$610 million, excluding wins with customer confidentiality reasons, the group said in a business update.

Its commercial aerospace segment won S$573 million in new contracts, while its urban solutions and satellite communications brought in S$371 million for the first quarter.

CapitaLand reports improving operational performance for Q1

$CapitaLand(C31.SG)$ said its operational recovery across its portfolio asset classes has continued from the second half of 2020 into Q1 2021, albeit at a varied pace across geographies.

In a business update on Wednesday morning, the property giant reported a recovery in its full suite of businesses in China and a resilient international portfolio, but cautioned that residential development in Singapore may be "tempered by increasing construction costs".

Stocks to watch

$Keppel Corp(BN4.SG)$: Keppel Data Centres has tied up with four other industry partners to jointly explore the development of a supply infrastructure to bring liquefied hydrogen into Singapore to power Keppel's data centres. Shares of Keppel closed flat at S$5.31 on Tuesday.

$FRASERS PROPERTY LIMITED(TQ5.SG)$: The property developer on Wednesday posted a net profit of S$275.8 million for the first half ended March 31, up 18 per cent from S$233.8 million the year before, although revenue was down 26.6 per cent to S$1.57 billion, largely due to lower contributions from development projects in certain markets as well as poorer operating results from the group's hospitality properties. Frasers Property announced separately that its wholly-owned subsidiary subscribed for 22.8 per cent of Series A preference shares in Ross Digital - which owns robotics cafe startup Ratio - for US$7.2 million. The counter closed at S$1.20 on Tuesday, down S$0.01 or 0.8 per cent.

$Riverstone(AP4.SG)$: The Malaysian glove maker posted a net profit of RM522.7 million (S$169.7 million) for the first quarter ended March 31, 2021, about 11 times its RM46.6 million net profit recorded the year before. Revenue was RM1 billion, which represented the largest quarterly revenue for the group from at least the start of FY2017. Riverstone shares rose S$0.01 or 0.8 per cent to end Tuesday at S$1.32.

$EC World Reit(BWCU.SG)$: The real estate investment trust's distribution per unit rose 32.3 per cent to 1.532 Singapore cents for the first quarter ended March 31, 2021, from 1.158 cents the year before. Gross revenue was up by 30.9 per cent to S$30.8 million and net property income also rose 30.9 per cent, to S$27.7 million. The increases were mainly due to the absence of one-off rental rebates given to tenants to mitigate the impact of Covid-19 and the strengthening of the yuan. The counter closed flat at 73.5 Singapore cents on Tuesday.

$Excelpoint(BDF.SG)$: The electronics component distributor posted a net profit of US$4.4 million for the first quarter ended March 31, about 19 times its net profit for the corresponding quarter the year before, on higher demand for semiconductors on the back of accelerated technology adoption. Revenue climbed 32.9 per cent to US$336.3 million. Shares of Excelpoint ended Tuesday at S$0.63, down S$0.01 or 1.6 per cent.

$Centurion(OU8.SG)$: The operator of purpose-built student and worker accommodations saw a 13 per cent decline in revenue year on year to S$30.7 million for the first quarter ended March 31, 2021. Revenue and average financial occupancy from student accommodations generally fell from the year before. Revenue from workers' accommodations were flattish; average financial occupancy decreased slightly, excluding new assets. The counter closed flat at S$0.34 on Tuesday.

$Silverlake Axis(5CP.SG)$: The financial services enterprise tech company saw its profit after tax rise 51 per cent to RM38.7 million (S$12.6 million)for the third quarter ended March 31, despite a 7 per cent fall in revenue to RM140.9 million. Silverlake Axis shares ended Tuesday flat at S$0.24.