Singapore Shares Dip as Geopolitical Tensions Escalate; Keppel DC REIT Up 4%

MT Newswires

2024/11/20

Singapore's stock market slumped on Wednesday, as global indices reacted to worsening of the Russia-Ukraine conflict.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,741.72 and 3,766.79 throughout the day. It ended the session at 3,743.64, down 14.33 points or 0.38% compared to Tuesday's close.

In company news, shares of Keppel DC REIT were up over 4% amid news that the trust's private placement to raise funds of around SG$1.0 billion for its acquisitions was 3.4 times covered.

Frencken Group's shares were up over 3% at the close after the company's profit attributable to equity holders rose 29% in Q3 to SG$9.2 million from SG$7.1 a year earlier.

Meanwhile, Koh Brothers Eco Engineering shares were up over 3% at the close after its subsidiary, Koh Brothers Building & Civil Engineering Contractor, secured a SG$77.6 million contract from Sport Singapore for piling and other works on the Toa Payoh Integrated Development site.

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