SG Morning Highlights | Thomson Medical Group Granted Extension by SGX to Restore Public Float
Good morning mooers! Here are things you need to know about today's Singapore markets:
●Singapore shares opened lower on Thursday; STI down 0.37%
●Singapore SME Business Leaders Express Optimism for Growth Prospects, Digital Transformation Key Driver
●iEdge S-REIT Index in Singapore Records 6.6% Total Returns in 2023, Retail Investors Net Buy the Sector
●Stocks to watch: Thomson Medical, Straits Trading
●Latest share buy back transactions
-moomoo News SG
Market Snapshot
Singapore shares opened lower on Thursday. The $FTSE Singapore Straits Time Index(.STI.SG$ dropped 0.37 percent to 3,130.62 as at 9.03 am.
Advancers / Decliners is 39 to 77, with 35.20 million securities worth S$55.97 million changing hands.
Breaking News
Singapore SME Business Leaders Express Optimism for Growth Prospects, Digital Transformation Key Driver
A recent survey by Employment Hero showed that about 82% of business leaders of small and medium-sized enterprises in Singapore expressed optimism on the growth prospects of their businesses in the next 12 months, although smaller firms were less confident than their bigger counterparts. A third of the respondents were feeling extremely confident about their business outlook despite ongoing global uncertainties, although micro and small enterprises remained wary about their future.
Respondents pointed to rising costs and high inflation, as well as lower revenues and fewer customers as the main reasons for the weak performance of their companies last year. Business leaders agreed that the biggest growth drivers lie in digital transformation, adoption of artificial intelligence as well as automation, forming partnerships, embracing flexible working conditions, and strengthening supply chains.
iEdge S-REIT Index in Singapore Records 6.6% Total Returns in 2023, Retail Investors Net Buy the Sector
The iEdge S-Reit Index in Singapore ended 2023 with total returns of 6.6%, rebounding close to 20% in total returns from its lows at the end of October, according to data from SGX and Bloomberg. As of the end of 2023, the iEdge S-REIT Index maintains an indicative dividend yield of 5.5% compared to 4.2% for the FTSE EPRA/Nareit Developed Index. Institutional investors recorded net outflows of $976m while retail investors recorded net inflows of $790m, with retail investors continuing to net buy the sector after accumulating net retail inflows of S$1.5 billion in 2022. Thirty-two of the 42 REITs and property trusts in Singapore are represented in the iEdge S-REIT Index.
Stocks to Watch
$Thomson Medical(A50.SG$: Thomson Medical Group has been granted a further three-month extension until April 10 by the Singapore Exchange (SGX) to restore its public float, according to a recent announcement. The company’s public float dipped below 10% in September 2023, and listing rules mandate that at least 10% of a listed company’s shares must be held by public investors, or trading will be suspended. This is the third time Thomson Medical has submitted an application to SGX seeking a grace period to restore its public float. The extension is subject to the company monitoring the public float and trading activity in its shares on an ongoing basis and making an immediate request for a trading halt if there is any indication of disorderly trading.
$Straits Trading(S20.SG$: Straits Trading has announced that it will issue S$130 million notes due 2029 at 4.7%, falling under the company's S$500 million multicurrency debt issuance programme established in 2011 and updated in 2017. The notes will be issued at par on January 24, and net proceeds from the issuance will be used for general corporate purposes, including financing existing borrowings, working capital, and capital expenditure requirements. DBS and UOB have been appointed joint lead managers and bookrunners for the bond offering.
Share Buy Back Transactions
Source: Business Times, SG investors
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