SG Morning Highlights | STI S-Reits Maintain Healthy Average Gearing of 37.6%
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Monday; STI up 0.64%
●STI S-Reits maintain healthy average gearing of 37.6%
●Stocks to watch: DBS, Sembcorp, Venture corp, Clas, NetLink, SIA Engineering
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index(.STI.SG$ rose 0.64 per cent to 3,163.88 as at 9.18 am.
Advancers / Decliners is 174 to 75, with 173.38 million securities worth S$157.27 million changing hands.
Breaking News
STI S-Reits maintain healthy average gearing of 37.6%
In October, the global real estate investment trust (Reit) sector broadly underperformed with the FTSE EPRA Nareit Developed Index declining 4.6 per cent. Similarly in Singapore, the iEdge S-Reit Index was down 7.2 per cent. Institutional investors net sold S$224 million of S-Reits while retail investors net bought S$275 million. Despite the underperformance of the sector in October, the six S-Reits in the Straits Times Index (STI) have been more resilient. STI S-Reits averaged 6.2 per cent declines and recorded retail net inflows of S$148 million. Frasers Logistics & Commercial Trust was the only Reit which received net inflows from both retail (S$10 million) and institutional (S$2 million) investors.
Stocks to Watch
$DBS Group Holdings(D05.SG$: DBS reported net profit of S$2.59 billion for the third quarter ended September, 16 per cent higher than earnings of S$2.24 billion in the corresponding period last year. This includes one-off costs of S$40 million accrued from the acquisition of Citigroup's Taiwan consumer banking business in Q3. Notwithstanding this one-off item, Q3 net profit would have been up 18 per cent to S$2.63 billion, driven by a record-high total income, said the largest bank in Singapore on Monday (Nov 6).
$Sembcorp Ind(U96.SG$: Sembcorp Industries (Sembcorp) has announced its strategic plan for 2023 to 2028 in a bid to transform its portfolio from brown to green and drive energy transition. This follows the group’s strategic plan that was unveiled in 2021 to support the global energy transition and sustainable development. By 2028, Sembcorp now aims to grow its gross installed renewables capacity to 25GW. The group is on track to achieve its target of 10GW of gross installed renewables capacity by 2025.
$Venture(V03.SG$: Technology company reported a 25.2 per cent fall in net profit to S$203.3 million for the first nine months of 2023, from S$271.7 million the same period last year. Revenue sank 18.8 per cent to S$2.29 billion, from S$2.82 billion previously. This brought earnings per share to S$0.697, down from S$0.932 a year ago. In a bourse filing on Friday (Nov 3), the group attributed the decline to a higher base last year, soft customer demand and ongoing inventory destocking. There were also “uncertainties in the global macroeconomic landscape and unabated geopolitical tension”, it said.
$CapLand Ascott T(HMN.SG$: CapitaLand Ascott Trust is to divest two hotels in Sydney, Australia for A$109 million (S$95.6 million) to an unrelated third party, the managers said in a press statement on Monday (Nov 6). The properties – Courtyard by Marriott Sydney-North Ryde and Novotel Sydney Paramatta – are located outside Sydney’s city centre. They will be sold at 5 per cent above book value with an exit yield of 4.4 per cent on an expected net gain of A$14.2 million.
$NetLink NBN Tr(CJLU.SG$: FIBRE optic cable owner NetLink NBN Trust : CJLU 0% posted a distribution per unit of S$0.0265 for the half year ended Sep 30, 2023, a slight 1.1 per cent higher from S$0.0262 a year ago. This came even as profit fell 3.1 per cent to S$52.9 million in H1, from S$54.6 million the previous year. The decline in profit was primarily due to higher finance costs, depreciation and amortisation, and income tax expenses, NetLink’s trustee-manager said in a bourse filing on Friday (Nov 3).
$SIA Engineering(S59.SG$: SIA Engineering recorded an 82.6 per cent increase in profit to S$59.3 million for the six months ended Sep 30, 2023, from S$32.5 million the year before. Revenue rose 41.9 per cent to nearly S$514 million in H1, from S$362.2 million a year ago, on the back of a rebound in the travel sector, with flight activities growing post-pandemic, said the group in a bourse filing on Thursday (Nov 2). This brings earnings per share to 5.28 Singapore cents, up from 2.89 Singapore cents the previous year.
Share Buy Back Transactions
Source：Business Times, SG investors
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
