Singapore Stocks Watch: Singapore share down at Wednesday’s open; STI down by 0.32% to 3,182.45

Singapore Stocks Watch: SINGAPORE stocks opened more fragile on Wednesday, with the Straits Times Index declining 0.32 percent or 10.26 focuses to 3,182.45 as at 9.05am in the midst of fears that the US-China exchange talks would not yield important advancement.

Washouts dwarfed gainers 70 to 43, or around five securities down for each three up, after 36.3 million securities worth S$67.8 million changed hands.

Among the most vigorously exchanged by volume, Genting Singapore held firm to S$1.09 with 6.3 million offers exchanged. Thai Beverage Public Co increased 0.7 percent or S$0.005 to S$0.74 with 2.4 million offers exchanged.

Dynamic record stocks included DBS Group Holdings, down 0.5 percent or S$0.13 to S$24.42; Jardine Strategic Holdings, down 0.8 percent or US$0.28 to US$36.82; and City Developments, down 0.7 percent or S$0.06 to S$8.84.

GYP to exit financial-criteria watch list, but still on hold for the minimum trading price

GYP Properties will be removed from the Singapore Exchange’s financial-criteria watch list from Jan 23, although it will remain on watch for potential delisting because its share price is too low, the company announced on Tuesday after the market closed.

Mainboard-listed GYP, the property group formerly known as Global Yellow Pages, was placed on the watch list on Dec 5, 2017 for posting three straight years of pre-tax losses and for failing to maintain a market capitalisation of at least S$40 million. SGX’s approval for the company’s removal from the financial-criteria list comes after GYP reported a net profit of S$3.7 million for the year ended June 30, 2018, and achieved a market cap that, according to SGX data, is currently about S$41.5 million.

GYP’s shares last traded at 15.1 Singapore cents, however. That leaves the company still under the risk of a mandatory delisting for failing to maintain a six-month volume-weighted average trading price of 20 Singapore cents and a S$40 million market cap. The company was placed on the minimum-trading-price watch list on June 5, 2017, and has until June 4, 2020 to cure that status or it could be forced to delist.


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