In today’s briefing:
- TalkMed (TKMED SP)’s Super Clean Scheme
- Indonesia Defies Headwinds To Post Robust Rubber Exports In Early 2025
- Asian Bond Monitor: Asian Bonds for the Upcoming Recession
- REIT Watch – Best performing S-REITs post double digit total returns in H1
- REITs and Tech led Net Institutional Inflows, as Frencken Chair and DHLT CEO Raised their Stakes
TalkMed (TKMED SP)’s Super Clean Scheme
- On the 23 Dec 2024, tertiary health care provider TalkMed (TKMED SP) announced an Offer, by way of a Scheme, from Tamarind Health at S$0.456/share, a 20% premium to undisturbed.
- Tamarind is a Singaporean-based, pan-Asian oncology-focused group. As part of the deal, Temasek-backed 65 Equity Partners will subscribe for new shares in Tamarind.
- The Composite Document is now out, with a Court Meeting on the 15th July, and expected payment around the 29th August. The IFA (KPMG) says “fair & reasonable“.
Indonesia Defies Headwinds To Post Robust Rubber Exports In Early 2025
- Price edge and stable grades help Indonesia stage a good show
- US demand strengthens despite Trump tariffs
- China demand softens, Japan slides as tariffs take effect
Asian Bond Monitor: Asian Bonds for the Upcoming Recession
- Inflation will remain sticky but we expect the recession headline to keep a lid on consumer spending which should also limit the possibility of a future rate hike.
- We believe fixed rate bonds should be the instrument of choice toward the end of this year.
- Rising default and a lack of growth in developed markets should also bode well for Asian US Dollar (USD) bonds.
REIT Watch – Best performing S-REITs post double digit total returns in H1
- Top S-REIT performers in H1 2025 include FHT, CICT, First REIT, FCT, and Parkway Life REIT with returns of 10.0-21.4%.
- Retail investors were net buyers with S$400 million inflow, while institutions were net sellers with S$500 million outflow.
- Forward dividend yield for FTSE ST REIT Index was 6.4%, with a nearly 4% yield spread to 10-year Singapore Government Bonds.
REITs and Tech led Net Institutional Inflows, as Frencken Chair and DHLT CEO Raised their Stakes
- Institutions were net sellers of Singapore stocks with a S$248 million outflow, led by STI banks’ S$2.73 billion outflow.
- United Overseas Bank, DBS Group Holdings, and Oversea-Chinese Banking Corporation led share buybacks, totaling S$69.7 million in consideration.
- Q & M Dental Group CEO Ng Chin Siau increased his interest to 55.78%, acquiring 7,041,300 shares via Quan Min Holdings.
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