SG Morning Highlights: Stocks rose slightly; STI up 0.04%

Moomoo News ·  Apr 26, 2021 21:23  · Headline

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

  • Singapore stocks rose slightly in early trade on Tuesday; STI up 0.02%

  • Validus, Siemens team up to facilitate credit access for Singapore distributors

  • Stocks to watch: Sheng Siong, Leader Environmental Tech, CLCT, Starhill Global Reit

-Moomoo News SG

Market Trend

Singapore stocks rose slightly in early trade on Tuesday, $FTSE Singapore Straits Time Index(.STI.SG)$ rose 0.02 per cent or 0.80 points to 3,183.66 as at 9.05 am.

Breaking News

Validus, Siemens team up to facilitate credit access for Singapore distributors

Small and medium enterprises (SME) financing platform Validus and technology company Siemens launched a channel partner financing programme on Tuesday for Siemens Digital Industries' ecosystem of distributors in Singapore.

This aims to provide Siemens' channel partners easy access to financing for their purchases, thereby allowing distributors to address short-term cash flow needs and capitalise on growth opportunities.

Stocks to watch

$Sheng Siong(OV8.SG)$The supermarket operator on Monday posted a net profit of S$30.9 million for its first quarter ended March 31, a rise of 6.5 per cent from the S$29 million recorded the preceding year. Sheng Siong also expects revenue for Q2 FY21 to be lower than for Q2 FY20 as demand had peaked in the second quarter last year, with the group reporting a record revenue of S$418.7 million. Shares of Sheng Siong ended Monday up S$0.01 or 0.7 per cent at S$1.56, prior to the results announcement.

$Leader Env(LS9.SG)$The environmental services provider announced that it will be terminating its proposed placement due to the prevailing market price of its shares traded on the local bourse "being at a substantial discount" to the placement price of S$0.17. The company also considered conditions precedent of the placement pending fulfilment, among other factors. The counter last closed at 14.5 Singapore cents on April 23 prior to the announcement. A trading halt which has since been lifted was called on Monday.

$CapLand China T(AU8U.SG)$The trust reported improved occupancy in its retail and business park portfolio to 94.4 per cent and 92.1 per cent respectively amid improved operations in Q1 2021. An increase in sales and traffic in its retail portfolio, and a gradual increase in workforce reporting to offices drove operations for its portfolios in Q1 2021. Units of CLCT closed 0.7 per cent or S$0.01 higher to S$1.40 on Monday, before the announcement.

$StarhillGbl Reit(P40U.SG)$In a business update on Monday, the Reit posted a 0.6 per cent year-on-year dip in revenue to S$46.4 million for its third quarter ended March 31. Net property income rose 0.6 per cent on year to S$35.4 million. Units of the Reit closed flat at S$0.56 on Monday, prior to the business update.

$CEI(AVV.SG)$, $AEM(AWX.SG)$The voluntary conditional offer for CEI Limited has turned unconditional and is now closed, the company said in a bourse filing on Monday. Valid acceptances and the total shares owned, controlled or agreed to be acquired by the offeror AEM Holdings and its concert parties amounted to 92.12 per cent as at 5.30 pm on Monday. CEI shares closed flat at S$1.15 on Monday, while AEM shares closed S$0.04 or 1 per cent higher at S$4.08 prior to the announcement.

$IFAST(AIY.SG)$The wealth management platform announced on Monday that its wholly-owned subsidiary, iFast Financial, has entered into a business transfer agreement with DWS Investments Singapore for the transfer of its fund management business relating to its Singapore mutual funds platform, comprising seven authorised retail funds. Shares of iFast closed at S$6.77 on Monday, up S$0.25 or 3.8 per cent, prior to the announcement.

$ISDN(I07.SG)$The engineering solutions provider posted a net profit of S$6.1 million for the first quarter ended March 31, 2021, a 95.4 per cent improvement on its S$3.1 million net profit for Q1 2020. Its revenue rose 23.4 per cent to S$98.4 million. ISDN shares closed flat at 63.5 cents on Monday before the announcement.

Source: The Business Times

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