SG Morning Highlights: Q2 results underscore resilience of Singapore listcos
Good morning mooers! Here are things you need to know about today's Singapore:
●Q2 results underscore resilience of Singapore listcos
●More ambitious net-zero target for Singapore could mean tougher climate policies
●Stocks & REITs to watch: IHH Healthcare, Kimly, Aspen
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index(.STI.SG$ rose 0.36 per cent to 3,274.62 as at 9.27 am.
Advancers / Decliners is 122 to 74, with 185.73 million securities worth S$140.97 million changing hands.
Breaking News
THE minimum wage is climbing upwards across much of South-east Asia – in line with workers' broader calls for higher pay, as the cost of living mounts worldwide.
"Sustained inflationary pressure is driving wage growth across the region as households and workers acutely feel the pinch in the erosion of real purchasing power," Selena Ling, chief economist at OCBC, told The Business Times.
SINGAPORE listcos stayed resilient in the quarter ended June despite concerns over a global economic slowdown.
Almost 2 in 3 of them came in above water - just slightly down from the 70 per cent plus which posted profits in the corresponding period last year.
US inflation likely slowed for a second month in August as gas prices continued to drop, but that probably won't be enough to stop the Federal Reserve from delivering another jumbo rate hike later this month.
Tuesday's (Sep 13) consumer price index (CPI), landing during the central bank's pre-meeting quiet period, is the last major report they'll receive before they make a decision. Economists forecast an 8.1 per cent rise in August from a year earlier, which would be the second-straight deceleration.
Stocks & REITs to Watch
$IHH(Q0F.SG$: A US court has granted IHH Healthcare's motion to dismiss a suit brought against it by US fund Emqore Envesecure Private Capital, the mainboard-listed company disclosed in a Friday (Sep 9) bourse filing.
Emqore sought over US$6.5 billion in damages in a lawsuit against IHH Healthcare and other defendants. Emqore's claims involved the issuance of shares of Fortis Healthcare to IHH's subsidiary in 2018.
The fund alleged that it suffered losses as the defendants had allegedly conspired to frustrate a proposed share acquisition transaction between Fortis Healthcare and Emqore's supposed predecessors.
$Kimly(1D0.SG$: A wholly owned Singapore subsidiary of Catalist-listed Kimly on Friday (Sep 9) agreed to sell its confectionery business Rive Gauche Pâtisserie to Muginoho Global for a consideration of S$2.8 million.
Rive Gauche Pâtisserie operates western pastry and confectionery specialty shops, including through online platforms. Muginoho Global is engaged in the manufacturing and sale of food products and is wholly owned by Japan-based Muginoho Holdings.
$Aspen(1F3.SG$: Aspen has responded to several queries posed by the Singapore Exchange Securities Trading (SGX-ST) relating to the company's financial results for the fiscal year 2022 ended June.
In its response, the company said the increase in both categories of expenses was due chiefly to 3 factors – the commencement of the healthcare segment on May 10, 2021; an impairment loss on machineries by the healthcare segment amounting to RM31.8 million (S$9.9 million) due to the "significant scale down" of the operation, and a loss on disposal of associate of RM16.9 million.
$Aspen(1F3.SG$: Aspen has responded to several queries posed by the Singapore Exchange Securities Trading (SGX-ST) relating to the company's financial results for the fiscal year 2022 ended June.
In its response, the company said the increase in both categories of expenses was due chiefly to 3 factors – the commencement of the healthcare segment on May 10, 2021; an impairment loss on machineries by the healthcare segment amounting to RM31.8 million (S$9.9 million) due to the "significant scale down" of the operation, and a loss on disposal of associate of RM16.9 million.
Latest Share Buy Back Transactions
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