14 March 2023</strong
Market View: Sembcorp Industries’ JV to build solar power plant in Oman; Yoma Strategic to restructure debt facilities for Yoma Central; Containing the fallout from the collapse of SVB and Signature Bank; US President Joe Biden vows tougher bank regulations; First Republic shares slumped on contagion fears; US CPI expectations for February
Singapore shares slipped in the first few minutes of trade today, extending the previous day’s losses.
The Straits Times Index headed down 0.6 per cent to 3,112.54 points in early trade after 176.7 million securities changed hands.
Some notable names seeing new developments include Sembcorp Industries, with its 80 per cent-owned joint venture clinching a contract to build, own and operate a 500 megawatt solar power plant in Oman.
Meanwhile, global bank stocks continued to take a beating around the world amid the collapse of Silicon Valley Bank and Signature Bank even as US President Joe Biden declared that the US banking system was safe and vowed stiffer bank regulations.
On Market View, the Drive Time team unpacked these developments with Robert St Clair, Managing Director and Strategist at Fullerton Fund Management.

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