SG Morning Call | Singapore Stocks Open Higher; Temasek Targets Big Jump in AI Investments as Value of Portfolio Hits Record High
Market Snapshot
Singapore stocks opened higher on Thursday. $Solidion Technology Inc.(STI)$ rose 0.65%; $OCBC Bank(O39.SI)$ rose 1.2%; $Genting Sing(G13.SI)$ rose 0.8%.
Stocks in Focus
$SGX(S68.SI)$: SGX has divested its wholly owned subsidiary, Scientific Beta, to global index provider Stoxx for a consideration of about 23 million euros (US$26.3 million), the local bourse operator said on Wednesday. The transaction is part of the group’s efforts towards active portfolio management and capital allocation. Shares of SGX fell 0.7 per cent or S$0.16 to close at S$24.01 on Wednesday.
$AIMS APAC Reit(O5RU.SI)$: The real estate investment trust (Reit) is acquiring a 9.15-hectare freehold industrial landholding in Perth, Australia, for A$42.7 million (US$29.6 million), the manager said on Thursday. The fully occupied property is leased to Swan Materials under a 10-year triple-net lease that features a fixed annual rental escalation rate of 3.25 per cent. Expected to generate an initial yield of 5.3 per cent, the debt-funded acquisition is distribution per unit accretive. Units of Aims Apac Reit rose 0.6 per cent or S$0.01 to close at S$1.64 on Wednesday.
SG Local News
Temasek targets big jump in AI investments as value of portfolio hits record high
Singapore state investor Temasek said on Wednesday it was targeting a major increase in investments in AI companies, aiming to lift its exposure to the technology to as much as 15% over the next five years from 6% now.
Temasek, which owns stakes in Anthropic and OpenAI, also said its net portfolio value climbed to S$518 billion ($400 billion) last financial year, marking the second consecutive year that it has hit a record.
Cost of driving in Singapore soars as ownership certificates reach nearly $100,000
Car buyers in Singapore will now need to fork out almost $100,000 for a certificate to own a small car, as costs in the city-state's vehicle quota system hit an all-time high for small models on Wednesday.
Singapore regularly auctions a fixed number of "certificates of entitlement" allowing car ownership for 10 years, which helps limit the number of vehicles on the road to about 1 million.
$AIMS APAC Reit(O5RU.SI)$ $SGX(S68.SI)$ $OCBC Bank(O39.SI)$ $Genting Sing(G13.SI)$ $Solidion Technology Inc.(STI)$Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
