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SG Morning Bell: Frasers Logistics & Commercial Trust will join STI, replacing Jardine Strategic

Moomoo News ·  Apr 8, 2021 22:06  · Headline

Good morning moomooers! Here are things you need to know about today's Singapore:

  • Singapore stocks open slightly higher on Friday; STI up 0.1%

  • Frasers Logistics & Commercial Trust will join STI, replacing Jardine Strategic

  • Mercurius proposes acquisition of 10 Malaysian grocery businesses

  • Stocks to watch: Keppel, Frasers Hospitality Trust, Top Glove

-Moomoo News SG

Market Trend

Singapore shares opened slightly higher on Friday, after recent meeting minutes from the Federal Open Market Committee bolstered expectations the US central bank will maintain its dovish monetary stance.

$FTSE Singapore Straits Time Index(.STI.SG)$ inched up marginally by 0.03 per cent or 0.84 point to 3,187.24 as at 9.02am.

Breaking News

Frasers Logistics & Commercial Trust will join STI, replacing Jardine Strategic

$FRASERS LOGISTICS & COM TRUST(BUOU.SG)$ will join the FTSE Straits Times Index (STI) on April 13.

Following the latest review of the STI by FTSE Russell, FLCT will replace Jardine Strategic Holdings (JSH)

Mercurius proposes acquisition of 10 Malaysian grocery businesses

Catalist-listed $Mercurius(5RF.SG)$ on Friday morning announced a proposed acquisition of 10 groceries businesses in Malaysia for S$36 million.

The stores include Tan Lee Heng; Songmart Cash & Carry; Granville Grocery; and seven Pasaraya Songmart branches located in Kluang, Kulaijaya, Kota Tinggi, Pulai Perdana 2, Sri Stulang, Bandar Tenggara and Chellam.

Stocks to watch

$Keppel Corp(BN4.SG)$A wholly-owned subsidiary of Keppel Telecommunications & Transportation (Keppel T&T) has obtained a Facilities-Based Operator licence from the Infocomm Media Development Authority. On Thursday, Keppel Corp said this licence entitles Keppel Midgard Holdings to own, maintain and operate telecoms infrastructure in Singapore and provide telecommunications services in connection with the Bifrost Cable System, the world's first subsea cable system project connecting Singapore to the west coast of North America. Keppel Corp shares fell 0.4 per cent or S$0.02 to close at S$5.46 on Thursday, before the announcement.

$Frasers HTrust(ACV.SG)$Eu Chin Fen has been appointed chief executive of the managers of FHTwith effect from April 10, the company said in an exchange filing on Thursday. Ms Eu will take over from Colin Low, who resigned in late January after less than two years in the role. Ms Eu is the chief investment officer of Frasers Hospitality International. Units of FHT closed at 56 Singapore cents on Thursday, up 0.9 per cent or 0.5 cent, before the announcement.

$Top Glove(BVA.SG)$The Malaysian glove manufacturer said it is now "coming near best practices" in a briefing on Thursday, after a series of labour issues - including allegations of forced labour and poor accommodation - led to the United States banning its gloves. At the briefing, the company, which is also listed on the Malaysian bourse, provided updates on the glove market, as well as efforts to improve worker accommodation and engagement with the US Customs and Border Protection. Top Glove shares closed at S$1.75 on Thursday on the Singapore bourse, up 10.8 per cent or S$0.17, after the filing.

$Asian Healthcare(1J3.SG)$The integrated healthcare services provider on Friday requested a trading halt pending the release of announcements. The counter closed flat at 18.4 Singapore cents on Thursday.

Source: The Business Times

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