Singapore Shares Gain More Than 1% on Dropping Oil Prices; TrickleStar Soars 74%

MT Newswires05-13

Singapore shares remained in green on Wednesday, tracking broader regional gains, with markets responding positively to retreating oil prices.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,963.16 and 5,008.37 throughout the day. It ended the session at 5,003.96, up 57.96 points or 1.2% compared to Tuesday's close.

On the corporate front, shares of TrickleStar (SGX:CYW) zoomed nearly 74% at the close as the company signed a placement agreement with PrimePartners Corporate Finance to raise SG$2.4 million through the placement of around 79.1 million shares at SG$0.0306 per share.

Valuetronics (SGX:BN2) shares closed nearly 14% lower, with the company slated to report a "significant" decrease in its net profit for the fiscal year ended March 31.

Meanwhile, shares of ES Group (SGX:5RC) surged over 12% at the close after the offshore engineering company's subsidiary, ES Aspire, signed a binding memorandum of agreement to dispose of its 8,028 deadweight tonnage steel tanker to an unrelated third party.

STI up 1.2%; OCBC up 3%; SGX, Singtel, YZJ Shipbldg up 2%; DBS, UOL, Keppel up 1%.

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