SG Morning Highlights | Keppel Corp to Issue €70M in Floating-Rate Notes for Corporate Needs
Good morning mooers! Here are things you need to know about today's Singapore markets:
●Singapore shares opened lower on Monday; STI down 0.23%
●Singapore 1Q24 Sees Private Residential Price Growth Ease to 1.4%
●Changi Airport's 1Q24 Passenger Traffic Edges Past Pre-Pandemic Figures
●Stocks to watch: Singtel, Keppel, Great Eastern, Seatrium
●Latest share buy back transactions
-moomoo News SG
Market Snapshot
Singapore shares opened lower on Monday. The $FTSE Singapore Straits Time Index(.STI.SG$ dropped 0.23 percent to 3,272.70 as at 9.21 am.
Advancers / Decliners is 123 to 77, with 317.09 million securities worth S$176.02 million changing hands.
Breaking News
1Q24 Sees Private Residential Price Growth Ease to 1.4%
In Q1 2024, Singapore's private residential property prices grew by a modest 1.4%, a slowdown from the 2.8% increase in Q4 2023, with landed properties increasing by 2.6% and non-landed by 1.0%, as reported by the Urban and Redevelopment Authority. Rental decline improved slightly with a 1.6% decrease compared to the previous quarter's 1.8% drop. Developers launched 1,304 new private homes, excluding executive condominiums, an increase from the previous quarter's 1,060 units, resulting in higher sales of 1,164 units compared to 1,092 units sold in Q4 2023.
Changi Airport's 1Q24 Passenger Traffic Edges Past Pre-Pandemic Figures
During the first quarter of 2024, Changi Airport experienced a 0.5% increase in passenger movements compared to the same period in 2019, handling 16.5 million passengers and achieving 94% of its aircraft movements from 1Q19. North America showed significant growth, surpassing 2019 levels by over 25%. China became the top market for the quarter, boosted by a new visa-exemption policy, with Indonesia, Malaysia, Australia, and Thailand rounding out the top five. Cities like Denpasar, Manila, Taipei, Seoul, and Shanghai also saw more than 10% growth from 1Q19 levels. Additionally, air freight throughput rose by 14% year-on-year to 475,000 tonnes, marking a positive shift after seven quarters of decline, with strong transshipment activities, particularly with China, and the top five cargo markets being Australia, China, Hong Kong, India, and the USA.
Stocks to Watch
$Singtel(Z74.SG$: On Monday, Singtel announced expected non-cash impairment charges of S$3.1 billion for H2 ending March 31, not affecting its full-year dividends or net profit. Additionally, its Australian arm, Optus, signed a deal with TPG Telecom for a joint network, projecting A$1.6 billion in service fees over 11 years, including A$900 million in extra cash flow. Singtel shares dipped by S$0.01 to S$2.41 on Friday.
$Keppel(BN4.SG$: On Friday, Keppel Corporation announced it will issue 70 million euros (S$102.1 million) in floating-rate notes maturing in 2031. The company intends to use the net proceeds for general corporate needs and working capital. Before the announcement, Keppel's stock price fell by 0.3%, or S$0.02, to close at S$6.84.
$Great Eastern(G07.SG$: This company reported a 26% rise in profits, reaching S$306.7 million for the first quarter ending in March, compared to S$244 million from the previous year. The increase was attributed to stronger insurance business results and positive investment returns in the shareholder's fund, according to the company's statement on Monday. Great Eastern's stock closed up 0.4%, gaining S$0.07, at S$18.69 last Friday.
$Seatrium(S51.SG$: SEATRIUM announced it intends to repurchase up to 2% of its issued shares through a S$100 million buyback scheme, which may extend beyond a year based on share prices. The buyback, funded by existing cash, will support employee share plans, director fee payments, or potentially reduce share capital to boost returns. With a stronger financial footing and planned growth investments, the program aims to align with shareholder interests. This follows a shareholder-approved mandate at the April 26 AGM.
Share Buy Back Transactions
Source: Business Times, SGinvestors.io, Business Review
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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