SG Morning Highlights | Over Two-thirds of Singapore Consumers Expect Economic Downturn Amid Rising Inflation: UOB Study

Singapore shares opened higher on Tuesday. The $FTSE Singapore Straits Time Index(.STI.SG)$ rose 0.04 per cent to 3,155.33 as at 9.08 am.

$Oxley(5UX.SG)$ : Property developer Oxley Holdings expects to post a net loss for its latest fiscal half and for the full financial year ended Jun 30, 2023, due to higher finance costs and a drop in revenue. In a profit guidance statement on Monday (Aug 21), the mainboard-listed company said lower revenue was recognised from the group's property development products as substantial revenue was registered prior to FY2023 as the projects progressed.

$Dasin Retail Tr(CEDU.SG)$ : The Singapore Exchange Regulation (SGX RegCo) issued a “trade with caution” alert for Dasin Retail Trust on Monday (Aug 21), as its trading activity review revealed that an individual seemed to be buying units of the China retail property trust to maintain the price. SGX RegCo said the trust’s closing price had stayed in the S$0.089 to S$0.094 range between Jul 17 and Aug 17 – the period this individual was buying the units. The individual was not named, but SGX RegCo said that its initial findings suggest that he or she is connected to Dasin.

$LHN(41O.SG)$ : The voluntary conditional general offer made by Milkyway Chemical to take over LHN Logistics has been declared unconditional in all respects. As at 6pm on Monday (Aug 21), the total number of shares owned, controlled, acquired or agreed to be acquired by the offeror amounted to 90.6 per cent of the total number of issues shares of LHN Logistics, meeting the minimum acceptance condition of the offer. As a result, the closing date of the offer has been extended to Sep 27 from Sep 13.

$NoonTalk Media(SEJ.SG)$ : NoonTalk Media sank into the red in its fiscal second half from the year before, on a 60.6 per cent drop in revenue from its main business segment, production. Its latest financial statement, released on Monday (Aug 21), showed that the production segment made S$1.2 million in the six months ended Jun 30, 2023, versus S$3 million in the corresponding half-year period a year ago. As a result, the company’s H2 net loss stood at S$1.1 million, reversing a net profit of S$734,377. The results translate to loss per share of 0.57 Singapore cent, versus earnings per share of 0.47 Singapore cent.