The Singapore Stock Market Today: Dairy Farm International Holdings Ltd Replaces StarHub Ltd on the Straits Times Index
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) inched up 1.5 points, or 0.05%, to 3,219.2. Of the 30 index stocks, 11 were in the green, 18 were in the red while one – ComfortDelGro Corporation Ltd (SGX: C52) – ended the day flat.
Thai Beverage Public Company Limited (SGX: Y92) was the best performer of the index as its shares rose 2.2% to S$0.695 each.
On the other hand, the company that was the biggest loser was Genting Singapore Ltd (SGX: G13). The casino operator’s shares fell 2.8% to S$1.04 apiece.
2. The Straits Times Index has a new look.
Pan-Asian retailer, Dairy Farm International Holdings Ltd (SGX D01), has replaced telco, StarHub Ltd (SGX CC3), on the 30-stock index. The change came after the September quarterly review of the Straits Times Index.
Dairy Farm shares ended the day at US$9.27 each, down around 1%, while StarHub shares rose 2.4% to S$1.71 apiece. For those who are interested to know about the firms’ dividends, you can jump in here.
3. Before the stock market opened today, Singapore Press Holdings Limited (SGX: T39) revealed that it has been approached by Keppel Corporation Limited (SGX: BN4) to participate in a possible transaction involving its indirect stake in M1 Ltd (SGX: B2F) held through its wholly-owned subsidiary, SPH Multimedia Pte Ltd. Keppel Corporation has an indirect interest in M1, which is the smallest listed telco in Singapore.
Keppel Corporation, on top of the news above, said that it is concurrently considering a transaction involving its stake in Keppel Telecommunications & Transportation Ltd (SGX: K11). As of 5 March 2018, Keppel Corporation had a 79.2% stake in Keppel Telecommunications & Transportation.
As of 22 February 2018, SPH Multimedia had a 13.45% stake in M1 while Keppel Telecommunications & Transportation owned 19.33% of M1. The largest single shareholder in the Singapore telco was Malaysia-listed, Axiata Group (6888.KL), with a 28.69% stake. Axiata has not made any announcement to the Malaysian stock exchange thus far.
Today, shares in Singapore Press Holdings Limited closed at S$2.80 apiece, down 0.7%, while Keppel Corporation lost 0.4% to S$7.00. Shares in M1 and Keppel Telecommunications & Transportation have been halted from trading.