Market Snapshot
Singapore stocks opened higher on Monday, with the STI Index rising 0.15%. JMH USD gained 2.4%, AEM SGD climbed 1.9%, DBS advanced 0.6%, while OCBC Bank and UOL both rose nearly 0.4%.
Stocks in Focus
The following companies saw new developments that may affect trading of their securities on Monday (Oct 5):
Far East Orchard : O10 0%, Far East Hospitality Trust (FEHT) : Q5T 0%: Far East Orchard is acquiring an additional 42 per cent stake in the managers of FEHT for S$28.3 million. This transaction will propel its core assets under management past its S$3 billion target to S$3.9 billion, Far East Orchard announced on Monday. Shares of Far East Orchard ended 1 per cent or S$0.01 higher at S$1.06 on Friday. Shares of FEHT ended at S$0.51, 1.9 per cent or S$0.01 lower.
UltraGreen.ai : ULG 0%: The group announced a number of board changes on Friday, as part of its next phase of development. Lead independent director Hsieh Fu Hua stepped down the same day. Nicky Tan, currently an independent director, was appointed lead independent director in his place. Shares of UltraGreen.ai closed down 0.9 per cent or US$0.005 at US$0.565 on Friday, before the news.
iX Biopharma : 42C 0%: The Catalist-listed company announced on Monday that it entered into an agreement to settle an outstanding debt of A$1.7 million (US$1.2 million) through the issuance of new ordinary shares. The debt capitalisation agreement was signed on Saturday with Australia-based private businessman Vincent Lee. iX Biopharma will allot and issue close to 2.7 million new shares for S$0.5627 each. Shares of iX Biopharma ended at S$0.56, up 1.8 per cent or S$0.01, on Friday.
SG Local News
Singapore PMI ticks up to 51.7 on continued AI-related demand
The Republic’s manufacturing activity expanded at a slightly faster pace in September, led by still strong artificial intelligence-related demand, even as operational pressures intensify.
The purchasing managers’ index (PMI) edged up 0.2 point from August to 51.7 last month, marking 14 consecutive months of expansion, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Friday (Oct 2).
A reading above 50 indicates expansion, while one below 50 indicates a decline.
Within manufacturing, the PMI for the linchpin electronics sector gained 0.3 point to 52.9, indicating a faster pace of expansion and marking a 16th straight month of growth.