SG Morning Highlights | Wilmar to Sell Entire 30.1% Stake in Moroccan Sugar Producer Cosumar for S$812 Million
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Monday; STI up 0.29%
●Wilmar to sell entire 30.1% stake in Moroccan sugar producer Cosumar for S$812 million
●Stocks to watch: Wilmar, Jardine Matheson, DFI Retail, Raffles Medical
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index(.STI.SG$ gained 0.29 per cent to 3,380.94 as at 9.17 am.
Advancers / Decliners is 136 to 70, with 222.21 million securities worth S$174.61 million changing hands.
Breaking News
THIS year, close to a quarter of Singapore's 100 most actively traded stocks have registered double-digit percentage growth in daily trading turnover from their respective 2022 levels.
Of the 23 stocks, 21 saw increased average daily trading turnover on the back of trading volume rather than price gains. These 23 stocks have in total seen on average S$202 million in shares changing hands daily so far this year, compared to S$113 million in 2022.
These include six Straits Times Index (STI) constituents, which comprised Singapore Airlines : $SIA(C6L.SG$, $Seatrium(S51.SG$, $Genting Sing(G13.SG$, $Sembcorp Ind(U96.SG$, $SATS(S58.SG$ and $ThaiBev(Y92.SG$. These six stocks averaged 15 per cent price gains over the 2023 year through to Jul 26, while averaging 80 per cent higher daily trading turnover.
Stocks to Watch
$Wilmar Intl(F34.SG$: Wilmar International said on Sunday (Jul 30) that it has entered into a deal with several Moroccan investors to dispose of its entire 30.1 per cent equity stake in Casablanca Stock Exchange-listed Cosumar.
The total cash consideration for the sale is about 5.96 billion Moroccan dirhams (about S$812.3 million).
The carrying value of the investment in Cosumar in Wilmar's books was US$336.2 million as at Dec 31, 2022.
$JMH USD(J36.SG$: Jardine Matheson Holdings on Friday (Jul 28) posted a net profit of US$566 million for the first half of 2023, up 34 per cent from earnings of US$423 million in the year-ago period.
The group attributed this to continued strong performance by Astra and DFI Retail, which marked a significant improvement in its results.
Earnings per share rose 33 per cent to 1.95 US cents, from 1.47 US cents previously.
$Raffles Medical(BSL.SG$: Raffles Medical Group posted a 0.5 per cent rise in net profit to S$59.9 million for its first half ended Jun 30, 2023, from S$59.5 million in the previous corresponding period.
This was mainly due to lower staff and manpower expenditures offsetting the fall in revenue while operating leverages continued to improve, the private healthcare provider said on Monday (Jul 31).
Earnings per share stood at S$0.0322 for the half year, up from S$0.0320 the previous year.
$DFIRG USD(D01.SG$: DFI Retail Group Holdings said Friday that it swung to a net profit for the first half of 2023 as it benefited from continued recovery from the Covid-19 pandemic in its markets.
The pan-Asian retailer, a member of the Jardine Matheson Holdings group, reported a net profit for the first six months of the year of $8.2 million compared with a net loss of $57.6 million for the first half of 2022.
Underlying profit--a metric which strips out exceptional and other one-off items--was $33 million, compared with an underlying loss of $52 million the year before.
Total sales for the first half, including associates and joint ventures, fell to $13.38 billion from $14.03 billion in the year-prior period, primarily due to reduced sales at Yonghui.
Latest Share Buy Back Transactions
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