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 Tuesday at 3,465.54 points, up 5.09 points or 0.2%. In all, there were 239 gainers to 172 losers.
The biggest winner in the index was conglomerate, Keppel Corporation Limited (SGX: BN4); its shares rose 2.4% to S$7.74.
Yesterday, the diversified group announced that Keppel Offshore & Marine had secured contracts worth a total of around S$130 million from repeat customers, Petrobras and SOFEC Inc.
Meanwhile, City Developments Limited (SGX: C09) fell the most today, sinking 2.1% to S$12.31.
2. Ley Choon Group Holdings Ltd (SGX: Q0X) has won a new contract from the Public Utilities Board (PUB) for S$19.6 million. The work involves the supply and laying of steel potable water pipelines, and when completed, it will improve the flow and pressure of water supply to the project areas.
The company’s executive chairman and chief executive, Toh Choo Huat, commented:
“We are delighted to be awarded another pipe-laying project from PUB, which has been our client for over 20 years. Our key long term objective is to not just to build a strong order book but establish sustainable and balanced growth as we continue to improve and enhance our financial position.”
Shares of Ley Choon ended the day at S$0.036, up 2.9%.
3. Vibrant Group Ltd (SGX: BIP), which provides logistics, real estate and financial services, announced its financial results for the second quarter ended 31 October 2017.
Quarterly revenue surged 284% year-on-year to S$172.7 million, but net profit dropped 60.4% to S$3.6 million.
The increase in top line was mainly due to contributions from Blackgold International Holdings Limited after it was acquired in July 2017. Lower operating profit, higher net finance costs and a decline in the share of profits of associates (after tax) caused the bottom line to perform poorly.
Vibrant’s shares last changed hands at S$0.38, down 1.3%.