SG Morning Call | STI Rose 0.19%, Singapore’S NODX Surges 38.4% In May As Robust AI Demand Continues
Market Snapshot
Singapore stocks opened higher on Wednesday. $Straits Times Index(STI.SI)$ rose 0.19%; AEM slides nearly 3%, UMS drops 2%; JMH, Singtel and OCBC edge up 0.7% while DBS gains 0.3%.
Stocks in Focus
The following companies saw new developments that may affect trading of their securities on Wednesday (Jun 17):
$Boustead(F9D.SI)$: The engineering and technology group’s subsidiary, Esri Australia, has renewed a contract for its geographic information systems platform with the Australian federal government for around S$60 million. The group said in a bourse filing on Tuesday that this is the largest enterprise agreement contract for the company’s geospatial division to date.
$CSE Global(544.SI)$: The technology solutions provider on Tuesday responded to regulatory queries regarding the abrupt resignation of its lead independent director Tan Chian Khong, detailing “unresolved differences in views” between him and board chairman Eugene Lai. The board said that the dispute has not resulted in any material adverse impact on the business or operations of the company to date.
$EliteUKREIT GBP(MXNU.SI)$: The real estate investment trust (Reit) lifted its trading halt on Tuesday after market close, with its private placement to partially fund five new UK properties and a student dorm conversion oversubscribed. The issue price was fixed at £0.296 per unit, a discount of about 13.12 per cent to the volume-weighted average price of £0.3407 on its last trading day on Monday. A total of 25 million units will be issued to raise gross proceeds totalling £7.4 million. Units of Elite UK Reit ended flat at £0.34 on Monday before the trading halt.
SG Local News
Singapore’s NODX surges 38.4% in May as robust AI demand continues
Singapore’s non-oil domestic exports (NODX) expanded 38.4 per cent year on year in May, extending the 24.4 per cent rise in April, data from Enterprise Singapore (EnterpriseSG) showed on Wednesday (Jun 17).
Electronics NODX surged 94.8 per cent in May, up from 66.7 per cent growth in April, supported by robust AI-related demand.
Nearly S$100 million to be pumped into municipal, industrial water solutions: Gan Kim Yong
Close to S$100 million will be channelled into the research and development of water solutions for towns and industries, including setting up a research facility for used water treatment.
Deputy Prime Minister Gan Kim Yong revealed this on Tuesday (Jun 16) at the opening of Singapore International Water Week, where he also announced that the Republic’s latest service reservoir in Tengah had been completed, even before the town itself was fully developed.
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