The Singapore Stock Market Today: LY Corporation Limited Makes Its Debut

Hello, everyone. Here are three things about the local stock market that you might be interested in today.

1. The Straits Times Index (SGX: ^STI), ended Wednesday at 3,533.99 points, down 14.75 points or 0.42%.

CapitaLand Commercial Trust (SGX: C61U) lost the most ground today, declining 2.1% to S$1.87. Units of the commercial real estate investment trust (REIT) went ex-dividend today.

On the other hand, Comfortdelgro Corporation Ltd (SGX: C52) was the biggest winner of the index as its shares rose 1.9% to S$2.10.

2. This morning, CapitaRetail China Trust (SGX: AU8U) released its financial results for the full year ended 31 December 2017.

For the year, net property income (NPI) grew 9.1% year-on-year to RMB730.6 million. The retail REIT attributed the increase mainly to the “first full-year contribution from CapitaMall Xinnan, which was acquired on 30 September 2016, and rental growth from the other multi-tenanted mall”.

In Singapore dollar terms, gross revenue rose 6.9% to S$229.2 million, NPI put on 6.8% to S$149.2 million while distributable amount to unitholders increased 5.1% to S$91.1 million. Distribution per unit for the year was 10.10 cents, 0.5% higher as compared to a year ago.

CapitaRetail China Trust units ended the day flat at S$1.69.

3. LY Corporation Limited (SGX: 1H8) made its trading debut on our local stock exchange this morning.

The company is one of Malaysia’s leading manufacturers and exporters of wooden bedroom furniture with a track record of around 40 years in the industry. LY Corporation’s products are sold mainly to overseas dealers, such as furniture wholesalers and retailers, who then resell the products to end-users.

Shares of the firm opened at S$0.285, up 9.6% from its initial public offering price of S$0.26, before closing at S$0.31 for the day.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P owns units in CapitaLand Commercial Trust.