THE US Federal Open Markets Committee (FOMC) meeting this week was meant to be a non-event as markets had for several weeks been expecting an interest rate hike. As it turned out, the Fed lived up to expectations with a 25 basis points rate hike but simultaneously indicated that there could be three more hikes next year instead of the two that markets had forecast.
This unexpected hawkishness brought the sellers out, dragging the Straits Times Index 23 points lower on Thursday. Even with a 7.09 points rebound on Friday, the STI lost a net 20 points or 0.7 per cent over the week at 2,937.86.
Friday's turnover was 2.3 billion units worth S$1.3 billion and excluding warrants there were 209 rises versus 221 falls.
Singapore shares affected following –
Maybank is updating Top Glove to “hold” from “offer” as its profit viewpoint turn ideal.
In a Friday report, expert Lee Yen Ling says the late climbs in ASP (normal offering costs) and high USD/MYR could more than balance higher crude material costs.
“We keep up our EPS figures, however, raise the stock to “hold” with a higher target cost of MYR5.30 ($1.71) from MYR4.25 in view of its +1 standard deviation to mean PER of 20x given its close term profit development viewpoint,” says Lee.
GS Holdings, the unified dishware washing organization, has consented to an arrangement with Changi Airport Group (CAG) to rent its Centralized Dishwashing Facility (CDF).
The rent will permit GS to give unified dishwashing administrations at Singapore Changi Airport overhauling the F&B outlets at the air terminal and Jewel Changi Airport.
With the office, GS will have the capacity to give F&B inhabitants and organizations situated in Singapore Changi Airport Terminals 1, 2, 3 and the forthcoming finished Terminal 4 and Jewel with on location dishwashing administrations.
CapitaLand on Friday declared that entirely possessed adjusted home specialty unit The Ascott has obtained Temple Bar Hotel in Ireland capital Dublin for 55.1 million euro ($83.6 million).
CapitaLand’s completely possessed auxiliary Ascott Operations Eight has procured the whole issued share capital of Sabden, which claims the inn, for a money thought of 31.3 million euro.
It considers the concurred 55.1 million euro estimation of the property, balanced for bank and shareholder advances owing by Sabden adding up to 25.6 million euro.
The administrators of Sabana Shari’ah Compliant Industrial REIT is proposing the procurement of a light mechanical working at 47 Changi South Avenue 2 for a thought of $23 million.
The merchant of the property is Freight Links Properties, which is an auxiliary of the REIT support, Vibrant Group.
The declaration of the securing comes a day after Sabana REIT said it was obtaining a modern working at Paya Lebar Central for $34.5 million.
