The Singapore Stock Market Today: DLF Holdings Limited Makes Its Trading Debut

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) rose 1%, or 34.2 points, to end Wednesday at 3,326.8.

StarHub Ltd (SGX: CC3) emerged as the biggest winner of the 30-stock index after putting on 7 cents, or 4.2%, to S$1.75. The telco will be announcing its 2018 second-quarter results on 7 August 2018. To know how the company performed in the first quarter, you can head here.

The biggest loser in the index, on the other hand, was CapitaLand Mall Trust (SGX: C38U). Units in the retail real estate investment trust (REIT) fell 2.7% to S$2.16. For the REIT’s second quarter earnings coverage, you can go here.

2. Singapore Exchange Limited (SGX: S68) said today that it has resumed discussions with India’s National Stock Exchange on a “potential collaboration in Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC)”. It added that both parties would “jointly engage and consult relevant stakeholders on the proposed collaboration”.

Both exchanges have been at loggerheads since February 2018 after the National Stock Exchange, the Bombay Stock Exchange, and the Metropolitan Stock Exchange of India said that they would stop licensing their data to overseas exchanges, including Singapore Exchange. Singapore Exchange offers trading and clearing of India equity derivatives to clients worldwide.

Shares in Singapore Exchange last changed hands at S$7.52 each, up 0.3% for the day.

3. DLF Holdings Limited (SGX: KUX) made its trading debut today by opening at S$0.22, down from its placement price of S$0.23. There were no shares available for the public as all shares were placed out to certain investors.

The company is a local mechanical and electrical engineering services and solutions service provider. Its main business is in the provision of project management and turnkey contracting services.

DLF’s completed projects here include Resorts World Sentosa, Sengkang General and Community Hospital, and Sengkang LRT depot. Outside of Singapore, it is presently providing turnkey contracting services for the construction of InterContinental Hotel in the Maldives.

Chief executive and executive director of DLF, Wong Ming Kwong, said:

“Our listing on the SGX will help us to expand our business and elevate our company profile. In addition to organic growth through securing more projects, we will also be looking at M&A opportunities to increase our scale and scope.”

Shares in DLF hit an intraday low of S$0.156 apiece before ending the day at S$0.169.

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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 Mall Trust and shares of Singapore Exchange Limited. Motley Fool Singapore contributor Sudhan P owns units in CapitaLand Mall Trust and shares in Singapore Exchange Limited.