Asian stocks looked set to open higher Tuesday after U.S. shares had their biggest rally in about 10 weeks as concerns eased that the recent onslaught of speculative buying will derail the equity bull market. The dollar climbed. Futures rose in Japan and Australian shares advanced. S&P 500 futures were little changed after the gauge rebounded from last week’s selloff in a broad-based advance led by technology and retail companies. Heavyweights Amazon.com Inc. and Google’s parent Alphabet Inc., which are set to report earnings Tuesday, saw notable gains. GameStop Corp. tumbled as bearish investors appeared to cover their positions. Elsewhere, Treasuries were steady. Oil held gains. Silver futures retreated after the frantic retail trading that sent them to an almost eight-year high as it spilled into metals.
REAL estate agency PropNex on Monday announced that it is looking to sell its stake in its property management arm for S$1,018,000. PropNex Realty - along with shareholder Lawrence February Mila Manalac - entered into a sale and purchase agreement with Newman & Goh Property Consultants, to dispose its entire shareholding interest in PropNex Property Management Consultants (PPMC). The disposal will allow the company to allocate more focus on its real estate agency business, said PropNex in its regulatory update.
ELITE Commercial Reit posted its H2 distribution per unit (DPU) at 2.49 pence (4.5 Singapore cents) on Monday, 2.9 per cent higher than its initial public offering (IPO) forecast of 2.42 pence, with occupancy at 100 per cent as at Dec 31 last year despite the UK's nationwide lockdown. The Reit (real estate investment trust), listed on the Singapore Exchange in February 2020, reported a post-tax profit of £19.5 million for H2, which was almost treble its IPO forecast of £6.9 million. Revenue was half a per cent lower than expected at £11.6 million for the second half of 2020.
SINGAPORE Press Holdings (SPH) and Temasek have entered into an agreement to merge their meetings, incentives, conventions and exhibitions (MICE) subsidiaries, according to an exchange filing on Monday. Temasek's wholly-owned subsidiary SingEx Holdings and Sphere Exhibits, which is wholly-owned by SPH, will merge to form SingEx-Sphere Holdings. Temasek will own 60 per cent of SingEx-Sphere, while SPH will own the remaining 40 per cent.
BOUSTEAD Projects has agreed to acquire a 49 per cent stake in the sole owner and developer of two industrial land lots in Vietnam for 158.8 billion dong (S$9.2 million). The properties are located within the Yen Phong Industrial Zone in Dung Liet Commune, Yen Phong District, Bac Ninh Province, Vietnam. Both are well connected to civil infrastructure and enjoy good connectivity to the Noi Bai International Airport and major ports in Hanoi, said the real estate player in a bourse filing on Monday.
AN indirect wholly-owned subsidiary of the Singapore Exchange (SGX) is seeking to raise around 240 million euros (S$386 million) from zero coupon convertible bonds, to refinance its existing debt and for other corporate purposes. SGX Treasury I intends to issue the bonds, which will mature in 2024, to institutional and other investors. The bonds will be convertible into ordinary shares in SGX, and are guaranteed by SGX, said the bourse in a regulatory filing on Monday evening. Approximately 80 per cent of proceeds from the deal will be used to refinance SGX's existing debt, while around 20 per cent will be used for general corporate purposes.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
Created by traderhub8 | Jun 12, 2024
Created by traderhub8 | Jun 03, 2024