SGX:CLN

Singapore Shares Rise Despite Regional Slump Over Inflation Worries

Singapore shares closed higher on Friday, despite negative regional sentiment over inflation worries driven by the perpetual geopolitical tensions.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,669.22 and 5,710.95 throughout the day. It ended the session at 5,695.93, up 6.18 points or 0.1% compared to Thursday's close.On the corporate front, shares of HG Metal Manufacturing (SGX:BTG) closed over 3% lower as it received approval from Jurong Town on Sept. 9 for the proposed assignment of the lease for 47 Tuas View Circuit, Singapore.SGX Group (SGX:S68) was down nearly 2% as its securities daily average value, or SDAV, jumped 35% year over year in August to about SG$2.2 billion.Meanwhile, shares of APAC Realty (SGX:CLN) closed nearly 1% higher as it proposed to acquire the remaining shares in ERA Graharealty that it does not already own.

APAC Realty to Acquire Remaining Shares in ERA Graharealty

APAR Realty (SGX:CLN) has proposed to acquire the remaining shares in ERA Graharealty that it does not already own, according to a Friday Singapore Exchange filing.Currently, the property developer holds 860.6 million shares in ERA, which will be delisted from the Indonesian Stock Exchange.The offer price for the acquisition of shares is 250 Indonesian rupiah.

Singapore Shares Mute as Regional Uncertainty Weighs Down Sentiment

Singapore shares remained little changed on Tuesday, with investor sentiment remaining cautious over uncertainty in the Middle East and lofty AI valuations.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,603.01 and 5,633.84 throughout the day. It ended the session at 5,612.25, down 0.03 points or 0% compared to Monday's close.On the corporate front, shares of Koh Brothers Eco Engineering (SGX:5HV) were down nearly 10% at the close with the engineering solutions provider flagging a net loss for the first half of the year.APAC Realty's (SGX:CLN) shares closed nearly 7% higher as its attributable profit to owners fell 17% during the first half of the year to SG$9.4 million from SG$11.3 million a year earlier.Meanwhile, shares of First Sponsor Group (SGX:ADN) were up nearly 5% at the close as it proposed a renounceable, non-underwritten rights issue of up to SG$332.6 million in 4.85% perpetual convertible capital securities.

APAC Realty's H1 Attributable Profit Declines 17%; Shares Up 6%

APAC Realty's (SGX:CLN) attributable profit to owners fell 17% during the first half of the year to SG$9.4 million from SG$11.3 million a year earlier, according to a Monday filing with the Singapore Exchange.Shares of the property investment firm were up over 6% in Tuesday trading.Earnings per share came in at SG$0.0212 compared with SG$0.0304 in the year-ago period.Revenue slid 3.5% year over year to SG$328 million from SG$340 million.The company declared an interim dividend of SG$0.019 per share and a special dividend of SG$0.036 per share, down from an interim dividend of SG$0.027 per share in the prior period.The dividend will be paid by Sept. 4.

Suit Against APAC Realty Unit Withdrawn

APAC Realty (SGX:CLN) said a legal suit filed against its subsidiary, ERA Realty Network, was discontinued and withdrawn by the claimants, according to a Thursday filing with the Singapore Exchange.Earlier, the unit was named as one of three co-defendants in proceedings before the High Court of Singapore, with the claimants seeking damages of SG$731,212 for an alleged breach of duty of care.

RHB Upgrades APAC Realty to Buy from Neutral, Adjusts Price Target to SG$0.71 from SG$0.70