SG Morning Highlights | Sembcorp Grows Vietnam Presence with Industrial Park and Wind Energy Acquisitions
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Friday; STI up 0.50%
●Real Estate and Tourism Stocks Shine as Singapore Market Shows Strength
●Singapore's 2024 Budget Announcement Scheduled for February 16
●Stocks to watch: Sembcorp, Sabana Reit
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Friday. The $FTSE Singapore Straits Time Index(.STI.SG$ rose 0.50 per cent to 3,230.35 as at 9.06 am.
Advancers / Decliners is 102 to 37, with 93.08 million securities worth S$73.57 million changing hands.
Breaking News
Real Estate and Tourism Stocks Shine as Singapore Market Shows Strength
As Singapore's stock market braces for a resilient 2024, with the anticipation of lowering interest rates and the continued boost from a tourism revival, experts suggest a strategic approach, favoring sectors such as real estate investment trusts (Reits) and tourism-related stocks. While the Straits Times Index (STI) is projected to see a modest uptick, achieving an estimated closure at 3,290 points by year-end, CGS-CIMB highlights Genting Singapore's growth in the VIP gaming sector. Investors are advised to be discerning in their investment choices to capitalize on potential sectorial gains.
Singapore's 2024 Budget Announcement Scheduled for February 16
Singapore's Deputy Prime Minister Lawrence Wong will present the 2024 Budget in Parliament on February 16, 2024. The announcement will be broadcast live across television, radio, and online platforms, including the official Singapore Budget website. Following the live presentation, the complete budget statement will be accessible on the website, as confirmed by the Ministry of Finance on December 28.
Stocks to Watch
$Sembcorp Ind(U96.SG$: Sembcorp Development, a Sembcorp Industries subsidiary, is bolstering its Vietnam presence with a 190-hectare industrial park project in Ha Tinh. Concurrently, Sembcorp has expressed interest in acquiring energy projects from GELEX Group, involving five wind farms in Guangzhi Province with significant investment and operational status since October 2021. The move signals Sembcorp's strategic expansion in Vietnam's industrial and renewable energy sectors.
$Sabana Reit 1(ZSNU.SG$: Sabana REIT has submitted a legal defence against the counterclaim brought forth by its tenant, Kleio One-Solution. The REIT's manager filed the defence in reaction to allegations it considers mischaracterizations of its lease obligations. Fully denying the counterclaim, Sabana REIT has deferred the matter to the Singapore High Court for resolution. The announcement came as units in Sabana REIT saw a marginal increase, closing at 40 cents on December 28, reflecting a 1.27% rise.
Share Buy Back Transactions
Source: Business Times, SG investors
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