SG Morning Highlights | Singtel's First Quarter Net Falls 23% Mainly on One-Off Item
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Monday; STI down 0.43%
●National Day Rally focuses on ageing well, keeping housing affordable with new approach
●Stocks to watch: Singtel, SBS Transit, Raffles Education
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened lower on Monday. The $FTSE Singapore Straits Time Index(.STI.SG$ lost 0.43 per cent to 3,160.22 as at 9.12 am.
Advancers / Decliners is 77 to 89, with 164.27 million securities worth S$88.52 million changing hands.
Breaking News
Ageing and housing were the central themes of Prime Minister Lee Hsien Loong's National Day Rally speech on Sunday (Aug 20), in which he announced Central Provident Fund (CPF) bonuses for "young seniors" and a new way of classifying public flats.
To keep housing affordable with fair access, Build-to-Order (BTO) projects will be classified not by estate but "location attributes", with a new category that has larger subsidies but tighter resale conditions.
Housing and retirement adequacy were among the top concerns in the fourth generation (4G) leaders' Forward Singapore feedback exercise, which will wrap up soon, noted PM Lee.
Stocks to Watch
$Singtel(Z74.SG$: Singapore Telecommunications' net profit in its fiscal first quarter ended June fell 23.1% compared with the same period a year earlier due to a one-off exceptional loss reported by its India associate company Bharti Airtel.
The telecom operator's net profit was 483 million Singapore dollars (US$355.9 million), the company said Monday.
The group's revenue fell 2.7% to S$3.49 billion, mainly because of a weaker Australian dollar.
$SBS Transit(S61.SG$: Transport operator SBS Transit will continue running the 17 bus routes under the Bukit Merah bus package but has lost the 26 routes under the Jurong West package to SMRT Buses.
The new five-year contracts for the two packages will start progressively from the second quarter of 2024.
The Land Transport Authority (LTA) announced the results of the tender for the two bus packages on Friday evening, nearly nine months after it was called in late November 2022.
$Raffles Edu(NR7.SG$: NPS International School has filed a civil claim against Raffles Assets, a wholly-owned subsidiary of Raffles Education Corporation, the private education provider said on Sunday (Aug 20).
The international school is seeking a S$500,000 refund of a deposit related to a letter of intent (LOI) entered into by both parties on a proposed lease of Raffles Assets’ property at 51 Merchant Road.
The group said Raffles Assets has been advised that the originating claim is “unmeritorious and groundless”. Raffles Assets plans to defend the application and file a counterclaim against the international school for breach of the LOI, with damages to be assessed.
Latest Share Buy Back Transactions
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101553787 : OMG
Profit slumps on unfavourable currency move, high costs... https://invst.ly/1148ba