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

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

1. The Straits Times Index (SGX: ^STI) managed to end the day in the green, closing at 3,584.6 points, up 0.1% or five points.

Thai Beverage Public Company Limited (SGX: Y92) saw its shares rise 8.7% to S$0.875 to emerge as the biggest winner of the 30-stock index.

Reuters reported that shareholders of Vietnam’s largest brewer Sabeco, in which Thai Beverage has a significant stake, voted to add three representatives of Thai Beverage to its management board. This reportedly came after the Singapore-listed firm complained to the “Vietnamese government earlier this year that its proposed board members for Sabeco had not been accepted”.

On the other hand, Venture Corporation Ltd (SGX: V03) slipped the most among the blue-chip companies. The electronics services provider’s shares tumbled 8.5% to S$23.40.

2. Units of CapitaLand Commercial Trust (SGX: C61U) declined by 1.1% to end Tuesday at S$1.80. The REIT, which owns 10 commercial properties in Singapore, announced its first quarter of 2018 financial results before the market opened today.

Quarterly gross revenue rose 7.7% year-on-year to S$96.4 million largely on the back of higher income from CapitaGreen, Capital Tower and Six Battery Road, and a full quarter contribution from Asia Square Tower 2. However, distribution per unit tumbled 11.7% to 2.12 Singapore cents, mainly due to an enlarged total units base.

To know more about the earnings, you can head here.

3. ESR-REIT (SGX: J91U) will be acquiring a four-storey ramp-up logistics facility located at 15 Greenwich Drive for around S$95.8 million. The property, with full occupancy, is valued at S$96.4 million and is located within Tampines LogisPark, a dedicated logistics park.

When completed, the acquisition is expected to expand the REIT’s exposure to the logistics/warehouse sector from 22.6% to 27.1%, and improve the portfolio occupancy from 90.7% to 91.2%.

The chief executive of the REIT’s manager, Adrian Chui, said:

“The addition of this quality asset enables us to leverage on this demand and will provide further income diversification from a wider base of quality tenants by adding leading logistics companies to our existing tenant network. This is in line with our overall portfolio enhancement strategy of creating a more balanced, modern and diversified mix of assets in order to generate stable and recurring returns for our Unitholders.”

ESR-REIT closed at S$0.535 today, down 0.9%.

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