3 Things You Need to Know About the Singapore Stock Market Today

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 Monday at 3,449.96 points, up 0.2% or 7.46 points.

Among the 30 index constituents, the blue-chip that rose the most was Jardine Cycle & Carriage Ltd (SGX: C07). The conglomerate’s shares increased 2.8% to S$35.50.

On the other hand, telco StarHub Ltd (SGX: CC3) fared the worst among the 30-stock index, with its shares slumping 2.1% to S$2.28. The firm is currently trading close to its 52-week low price of S$2.26.

2. ComfortDelGro Corporation Ltd (SGX: C52), which ended the day unchanged at S$2.08 per share, announced earlier today that it is expanding into Australia’s non-emergency patient transportation space. It is doing so by acquiring all the shares in National Patient Transport Pty Ltd (NPT), one of the largest private providers of non-emergency patient transport services in the country.

The acquisition, subject to regulatory approval, is for A$30 million (around S$30.2 million) and will be funded from ComfortDelGro’s internal funds.

NPT operates in Victoria, New South Wales and Western Australia, three states where ComfortDelGro has an entrenched presence. The firm “offers a range of healthcare transport services to major metropolitan hospital networks including walker, hoist and stretcher transport services and specialist services for high acuity and complex patients”. NPT also runs “a registered training organisation that is qualified to deliver and assess a range of non-emergency healthcare transport, first aid and resuscitation courses in Australia”.

Yang Ban Seng, managing director and group chief executive of ComfortDelGro, said:

“This is an exciting opportunity for us to expand into an adjacent area of land transport services. It enables us to leverage on our core capabilities in contract, fleet and manpower management whilst broadening our breadth of skills. The non-emergency patient transport business is experiencing strong growth and one that shows great potential with ageing populations in much of the developed world. With this acquisition, we will be able to use our newly acquired skills set to explore similar opportunities in other geographies.”

3. The earnings season has started again with SPH REIT (SGX: SK6U) reporting its second-quarter results on Friday after market close.

For the three months ended 28 February 2018, gross revenue decreased 0.8% year-on-year to S$53.6 million while net property income came down 1.1% to S$42.3 million. However, distribution per unit held steady at 1.40 Singapore cents. To know more about the earnings, you can check out the coverage here.

Units of SPH REIT ended Monday flat at S$1.00.

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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 doesn’t own shares in any companies mentioned.