SG Morning Highlights | SingPost to Buy Australia's Border Express for up to A$210 Million
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Thursday; STI up 0.56%
●10-year average return on Singapore Savings Bonds hit new year-to-date high of 3.4%
●Singapore nabs US' spot as largest investor in APAC real estate
●Stocks to watch: Genting Singapore, FLCT, SingPost
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Thursday. The $FTSE Singapore Straits Time Index(.STI.SG$ rose 0.56 per cent to 3,093.86 as at 9.17 am.
Advancers / Decliners is 159 to 56, with 123.25 million securities worth S$132.97 million changing hands.
Breaking News
10-year average return on Singapore Savings Bonds hit new year-to-date high of 3.4%
Interest rates on the latest issuance of Singapore Savings Bonds (SSBs) have risen again, as yields on the bonds have continued to climb in recent months. The latest tranche, which opened on Wednesday (Nov 1) and will be issued in December, is offering a first-year interest rate of 3.3 per cent, and a 10-year average return of 3.4 per cent. The 10-year average return of 3.4 per cent is the highest offered for issuances in 2023.
Singapore nabs US' spot as largest investor in APAC real estate
Investors in Singapore injected over $11.6b into Asia-Pacific, surpassing the US' position as top source of APAC real estate investments for the first time. "This brings Singapore's cross-border investment value to surpass that of the US by nearly 50%," read the statement from Knight Frank. This stemmed from the strength of the Singapore dollar, which prompted large institutions such as GIC and other Government-Linked Firms to pursue markets such as Japan, China, South Korea, and Australia.
Stocks to Watch
$Genting Sing(G13.SG$: An indirect wholly owned subsidiary of Genting Singapore has received provisional permission from the Urban Redevelopment Authority (URA) to develop 21,243 square metres (sq m) gross floor area (GFA) of retail space, and 700 hotel rooms at Resorts World Sentosa (RWS). The retail space works out to 228,658 square feet. The above scheme is expected to be part of the pledge Genting Singapore made in 2019 to invest S$4.5 billion to expand its RWS integrated resort with new non-gaming attractions. There are currently five hotels with a total of about 1,600 rooms in RWS.
$FRASERS LOGISTICS & COM TRUST(BUOU.SG$: FLCT posted a distribution per unit (DPU) of S$0.0352 for the second half ended September, down 6.6 per cent from S$0.0377 in H2 FY2022. This was mainly due to lower income and higher expenses compared to the year prior, said the real estate investment trust's (Reit) manager on Thursday (Nov 2). FLCT's revenue for H2 fell 0.8 per cent on the year to S$212.8 million from S$214.5 million previously.
$SingPost(S08.SG$: SingPost is back in the black with a net profit of S$11.5 million for the fiscal first half ended Sep 30, from a net loss of S$9.9 million a year before. The better performance was despite a fall in revenue. The net profit was driven by lower volume-related expenses and operating expenses, as well as a smaller loss on exceptional items. The logistics business in Australia and the international cross-border business also boosted the results, said the group on Thursday (Nov 2).
The company has proposed to fully acquire Australian courier and logistics services provider Border Express through its subsidiary in the same country, Freight Management Holdings (FMH).
Share Buy Back Transactions
Source：Business Times, SG investors
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