SG Morning Call | Singapore Stocks Open Slightly Higher; SIA Engineering, UOB, Centurion up About 1%; SIA, Keppel, DBS Edge Higher; UOL, Boustead Down 1%; UMS Down 2%
Market Snapshot
Singapore stocks opened higher on Friday. STI rose 0.04%; SIA Engineering, UOB, Centurion up about 1%; SIA, Keppel, DBS edge higher; UOL, Boustead down 1%; UMS down 2%.
Stocks in Focus
$City Developments Ltd(C09.SI)$ (CDL): CDL announced on Friday a 100 per cent take-up rate for its buyback offer for 24,120,733 preference shares. Shares of CDL ended at S$8.39, S$0.01 or 0.1 per cent lower, before the announcement.
$IReit Global(UD1U.SI)$: It announced on Thursday that its wholly owned subsidiaries holding the Berlin Campus were served with a statement of claim on May 19, by former main tenant DRV. DRV is seeking a repayment of about 8.4 million euros (S$12.5 million) plus interest. In response, IReit’s legal counsel filed a common notice of defence with the Berlin regional court on May 20, and is currently requesting an extension to Jul 16 to submit their formal statement of defence. Shares of IReit Global ended flat at S$0.23 on Thursday.
$Civmec(P9D.SI)$: The construction and engineering services provider announced on Thursday that its order book reached a new record of S$1.5 billion amid new contracts, panel agreement extensions and orders. The new awards span its resources, infrastructure, energy and maintenance activities, and are expected to be delivered across FY2027 and FY2028. Civmec shares fell 1.3 per cent or S$0.02 to S$1.54, before the news.
SG Local News
World Cup Lull Could Be Investors’ Chance to Score SGX Stocks: DBS
The upcoming Fifa World Cup could give investors a “tactical opportunity” to pick up Singapore stocks at attractive levels, said DBS analysts.
The brokerage said the global football tournament has historically coincided with weaker trading activity on the Singapore Exchange (SGX), creating opportunities to accumulate shares ahead of a rebound in market participation.
DBS named OCBC, Singtel and Venture among its top picks for investors looking to position ahead of a potential post-World Cup rebound in Singapore equities.
Commercial Vehicle COE Likely to Breach S$100,000; Mainstream Car Premiums to Remain Elevated
Industry observers predict new highs for commercial vehicle Certificate of Entitlement (COE) premiums this year.
Strong demand for mainstream cars, meanwhile, is expected to keep premiums for that segment high.
Ryan Woon, CEO of EcoSwift, the agent for China commercial vehicle brand Sany in Singapore, believes Category C premiums “will hit S$100,000 for sure”.
$(STI.SI)$ $(C09.SI)$ $(UD1U.SI)$ $(P9D.SI)$Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
