SG Morning Call | STI edged down 0.09%, JMH USD gained 2.8%, while UOL rose 0.5% and UMS added 0.4%
Market Snapshot
Singapore stocks opened mixed on Tuesday, with the Straits Times Index (STI) edging down 0.09%.
In early trading, JMH USD gained 2.8%, while UOL rose 0.5% and UMS added 0.4%. On the downside, Kep Infra Tr dipped 0.9%, OCBC Bank slipped 0.8%, and DBS was marginally lower.
Stocks in Focus
The following companies saw new developments that may affect trading of their securities on Tuesday (Jul 21):
Yeo Hiap Seng : The food and beverage company said on Monday that its 54-year-old chief executive officer Ong Yuh Hwang is resigning, due to “personal reasons.” He will be succeeded by Nestle vice-president and regional manager for the Asia, Oceania and Africa Adrian Ho, who will assume the role on Sep 1. The counter closed flat at S$0.57 on Monday, prior to the news.
Foundation Healthcare : The newly listed healthcare company’s stabilising manager UBS on Monday purchased 100,000 shares of Foundation Healthcare. Each share cost S$0.715, it said. This followed UBS buying 5.3 million of its shares in the past weeks. Shares of Foundation Healthcare fell 0.7 per cent or S$0.05 to close at S$0.72 on Monday, before the news.
SG Local News
Retail resets: Mall owners reposition shopping centres as Singapore’s consumer landscape evolves
Major mall owners are embarking on a new wave of asset enhancement initiatives (AEIs), pouring hundreds of millions of dollars into repositioning their malls to map shifting consumer tastes and improve returns.
The revamps bring a fresh round of tenant churn, with the departure of long-standing names such as cinemas and department stores grabbing headlines. While stirring nostalgia, the changes reflect a steady shift in how malls are being remade, with experience and lifestyle-led concepts and mixed-use spaces.
CICT to reconfigure parts of Paragon, including Metro space
CapitaLand Integrated Commercial Trust is advancing plans to optimise and selectively reconfigure parts of Paragon, including areas currently occupied by department store Metro.
“(Metro) has expressed interest in remaining at Paragon under new retail concept stores, and discussions are ongoing. Feasibility studies are currently under way, and we will share further details once plans are finalised,” said the manager of CICT on Monday (Jul 20).
The latest announcement comes as CICT plans to “further strengthen Paragon’s tenant mix and create opportunities to introduce fresh concepts and experiences”.
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