Singapore Shares Eke Out Gains; MeGroup Rises 9%

MT Newswires

May 06

Singapore shares closed marginally higher on Wednesday, as investor sentiment improved on hopes of the US and Iran reaching a peace deal.

The Straits Times Index ranged between 4,915.13 and 4,935.68 throughout the day. It ended the session little changed in positive territory at 4,927.38.

On the corporate front, shares of MeGroup (SGX:SJY) rose 9% after its subsidiary, Menang Nusantara, agreed to acquire two freehold commercial units in Malaysia for 14 million ringgit.

Ley Choon (SGX:Q0X) closed nearly 5% higher as its subsidiary, Ley Choon Constructions and Engineering, secured underground utilities services contracts worth SG$35.6 million.

Meanwhile, Centurion Accommodation REIT (SGX:8C8U) gained 2% as its net property income reached SG$37.5 million in the first quarter, above the expected SG$36.6 million.

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