SG Morning Highlights: Manufacturing momentum slows in May
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Tuesday; STI down 0.36%
●Manufacturing momentum slows in May
●Stocks & REITs to watch: Singtel, UOB, Isetan, Sinarmas Land, Watches.com
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened lower on Tuesday. The $富時新加坡海峽指數(.STI.SG)$ decreased 0.36 per cent to 3126.09 as at 9.00 am.
Advancers / Decliners is 38 to 64, with 25.69 million securities worth S$23.32 million changing hands.
●Singapore shares opened lower on Tuesday; STI down 0.36%
●Manufacturing momentum slows in May
●Stocks & REITs to watch: Singtel, UOB, Isetan, Sinarmas Land, Watches.com
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened lower on Tuesday. The $富時新加坡海峽指數(.STI.SG)$ decreased 0.36 per cent to 3126.09 as at 9.00 am.
Advancers / Decliners is 38 to 64, with 25.69 million securities worth S$23.32 million changing hands.
Breaking News
Manufacturing momentum slows in May
This chart from RHB shows the year-to-date growth in key manufacturing clusters with manufacturing momentum having slowed considerably, with industrial production merely rising by 0.7% in May MoM in the three months moving average (3MMA) compared to 2.6% in April MoM (3MMA). This is three times slower, RHB said.
Manufacturing momentum slows in May
This chart from RHB shows the year-to-date growth in key manufacturing clusters with manufacturing momentum having slowed considerably, with industrial production merely rising by 0.7% in May MoM in the three months moving average (3MMA) compared to 2.6% in April MoM (3MMA). This is three times slower, RHB said.
The drivers behind the slowdown were identified as the cooling global trade demand and higher supply costs, and these could persist into the year ahead.
Stocks & REITs to Watch
$Singtel(Z74.SG$ : Singtel junked reports stating that it will list its Australian subsidiary, Optus.
Stocks & REITs to Watch
$Singtel(Z74.SG$ : Singtel junked reports stating that it will list its Australian subsidiary, Optus.
In a statement, Singtel said it currently has no plans to list Optus and that earlier reports were "highly speculative.
"Since becoming part of the Singtel stable, Optus has grown to be a leading telco in Australia and is now a significant part of the Singtel Group," the company said.
$UOB(U11.SG$ ：United Overseas Bank (UOB) says it intends to issue $400 million worth of perpetual capital securities that will be first callable in 2027.
The SGD-denominated perpetual capital securities will be drawn down under the US$30 billion ($41.57 billion) global medium-term note programme.
The perpetual capital securities will bear a fixed distribution rate of 4.25% per annum, subject to a reset on Oct 5, 2027, and then every five years thereafter to a rate equal to the then-prevailing five-year Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS) plus the initial spread of 1.47%.
$Sinarmas Land(A26.SG$ : Property developer Sinarmas Land has formed an investment arm, Living Lab Ventures, to fund Indonesian startups, the mainboard-listed company said in a bourse filing on Monday (Jun 27).
Living Lab Ventures will focus on 3 key verticals: technologies related to smart city living, digital life - which includes e-commerce and social networking - and mobility solutions for both people and goods. Living Lab will also provide mentoring for startup leaders.
Sinarmas has also set up Living Lab X, an incubator for startups that will offer partnerships with related companies and pilot testing.
$Incredible(RDR.SG$ & $Ntegrator Hldg(WVJ.SG$ : The Singapore Exchange's regulatory arm on Monday (Jun 27) handed out notices of compliance to Catalist-listed companies Incredible Holdings and Watches.com over a series of transactions that would result in joint investments and cross-shareholdings.
Both companies share a common executive director, Christian Kwok-Leun Yau Heilesen, as well as the following board members: Jacob Leung, Stanley Leung and Zhou Jia Lin.
In October 2021, Incredible entered an agreement with Heilesen to acquire 42 per cent of a company, Golden Ultra, for S$14.6 million. Prior to this, Watches.com had also entered an agreement with Heilesen to acquire 55 per cent of Golden Ultra for S$14.4 million. The purchase was paid via the issuance of promissory notes by both companies to Heilesen, who also held the remaining 3 per cent interest in Golden Ultra.
Latest Share Buy Back Transactions
Latest Share Buy Back Transactions
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