PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Tech attempts to nurse some of the recent losses
The October 14 brief covers Starlux revenue growth, Taiwan tax receipts and market activity, Singapore REIT developments, a proposed Raffles Education dividend and warrants, and unchanged Singapore FX policy.
News detail
TAIWAN Starlux Airlines (2646 TT) - Co. September rev. rose 69% Y/Y to TWD 4.98bln, passenger rev. rose 70% Y/Y to TWD 3.72bln and cargo rev. rose 59% Y/Y to TWD 706mln, driven by strong passenger demand and AI-related cargo shipments; expects further growth following the launch of new routes. (Taipei Times) Tech Nasdaq declined during Wall St trade amid continued weakness in chip and memory names, although futures attempt to nurse losses overnight. Other News Taiwan's securities transaction tax revenue rose 71.2% Y/Y to TWD 53.4bln in September, a record high for the month, despite falling for a third consecutive month amid declining market turnover. (Taipei Times) SINGAPORE KORE US REIT (KORE SP) - Co. completed its second full-floor spec-suite development at The Plaza Buildings in Bellevue, Washington, with 50% of its six suites pre-leased. (Business Times) Parkway Life REIT (PREIT SP) - Co. acquired three nursing homes in France for EUR 38.8mln (USD 43.5mln), with aggregate leverage expected to rise to 35.3% (prev. 33.8%); each property is backed by a 12-year lease. (Business Times) Raffles Education (RLS SP) - Co. proposed a special interim dividend of SGD 0.003/shr, subject to shareholder approval on 30th October, alongside the issuance of up to 538.9mln warrants to directors Chew Hua Seng and Doris Chung Gim Lian at an exercise price of SGD 0.065/shr. (Business Times) Other News Monetary Authority of Singapore keeps FX-based policy unchanged, with the slope, width and centre of the SGD NEER band maintained, versus expectations for a very slight adjustment to the rate of appreciation.
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