Singapore stock preview: CapitaLand Investment, Top Glove, SGX

• CapitaLand Investment share price rallied 2% on launch day
• Top Glove Singapore shares plunged over 7%, following weaker 4Q results
• Singapore Exchange share price are trading sideways on Monday (20 September)
• Feeling bullish or bearish about these SG stocks? Open an account with us to start trading them.

CapitaLand Investment (SGX: 9CI)

CapitaLand Investment (CLI) made its trading debut on the Singapore Exchange Securities Trading Limited (SGX-ST) under the stock code of ‘9CI’ at S$2.95 a share on Monday.

Shares then rose to a high of S$3.01 shortly into the session, which was streamed live on Facebook and a webcast.

The listing takes place after CapitaLand Ltd (SGX: C31) restructured its business to form two distinct entities – CLI, the listed real estate investment management business; and CapitaLand Development (CLD), the privatised property development arm.

CapitaLand Ltd ceased trading at S$4 a share on 09 September.

CLI had about S$119 billion of real estate assets under management (AUM) as at 30 June 2021, of which more than 80% are located in Asia. CLI’s real estate funds under management (FUM) also stood at about S$83.0 billion, held via six listed real estate investment trusts and business trusts, and over 20 private funds.

Top Glove (SGX: BVA)

Top Glove saw its sales revenue for the fourth quarter of FY2021 fall by 32% year-on-year to 2.12 billion ringgit.

Meanwhile, profit after tax came in 48% lower at 631 million ringgit against the corresponding period in 2020, with Sales Volume also 33% lower year-on-year.

The rubber glove manufacturer said its 4Q results ‘were softer on the back of normalising demand, following mass vaccine rollout on a global scale, leading to lower sales volume and ASPs, which were not matched by a corresponding reduction in raw material prices’.

‘This was further affected by the Finding imposed by the U.S. Customs and Border Protection, impacting sales volume and profit,’ it said in a bourse filing.

The finding has since been lifted on 10 September 2021. Top Glove Malaysia has resumed exporting gloves to the US.

Singapore Exchange (SGX: S68)

Singapore Exchange (SGX) and The Stock Exchange of Thailand (SET) have introduced the Thailand-Singapore depository receipts (DR) Linkage, the first exchange-level DR cooperation in ASEAN.

Under the Thailand-Singapore DR Linkage, depository receipts representing shares in an SGX-listed security will be issued for trading on SET and vice versa.

Investors in Thailand and Singapore will benefit from the ease of buying and selling securities via a DR through their local broker arrangements and in their domestic currency.

The DRs will trade according to their respective home market rules and regulations. The exchanges expect to introduce the first DR of the Linkage in the coming 12 months.

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