SG Morning Call | STI Rises 0.62%; SIA, Top Glove up over 2%; UMS, OCBC Bank, Seatrium up over 1%; Food Empire Tumbles 18%
Market Snapshot
Singapore stocks opened higher on Wednesday. STI rose 0.62%; SIA, Top Glove up over 2%; UMS, OCBC Bank, Seatrium up over 1%; Food Empire tumbled 18%.
Stocks in Focus
The following companies saw new developments that may affect trading of their securities on Wednesday (Jun 3):
$ESR Reit(9A4U.SI)$: The manager of the real estate investment trust (Reit) announced the establishment of a two billion euro (S$3 billion) medium term securities programme on Tuesday, for which OCBC is the arranger and initial dealer. The securities will be offered in Singapore, pursuant to exceptions under the Securities and Futures Act 2001. Net proceeds from each issuance will be used to refinance ESR Reit’s borrowings, finance or refinance its acquisitions and/or investments, or for working capital purposes. Units of ESR Reit closed Tuesday 0.4 per cent or S$0.01 down at S$2.37, before the news.
$Del Monte Pacific(D03.SI)$: The mainboard-listed F&B group outlined a framework addressing its debt obligations in a group capital and financial recovery plan submitted to the Philippine Stock Exchange on Monday. The total debt perimeter subject to the restructuring is about US$1.2 billion, according to the filing, which was disclosed to the Singapore Exchange on Tuesday. Shares of Del Monte Pacific closed flat at S$0.089 on Tuesday, after the news.
$Vin’s Holdings(VIN.SI)$: The group on Tuesday announced the completion of a special investigation audit by its internal auditor, which confirms preliminary findings disclosed earlier that fraud risk indicators are present in connection with certain irregular transactions. The company said an external auditor confirmed that the transactions do not have any material impact on its previously issued financial statements for FY2025. The counter closed Tuesday 10.2 per cent or S$0.025 up at S$0.27, before the news.
SG Local News
Singapore's PMI Inches up to 51 in May as Electronics Sector Maintains Growth
The Republic’s factory activity grew at a faster pace in May as artificial intelligence-related tailwinds continue to drive electronics growth, amid challenges arising from the ongoing Middle East conflict.
The purchasing managers’ index (PMI) marginally expanded last month, edging up 0.3 point to 51, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Tuesday (Jun 2). This marked the highest reading since December 2024 and the 10th straight month of growth.
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