News

It will engineer and construct projects for Denmark’s Ørsted Wind Power and Norway’s Norled AS.

Interest for office properties is picking up.

Wall Street's weakness could drag down the local sentiment today.

And SPH co-leads $4.14m funding for US marketing intelligence platform.

One major deal is a floating production storage and offloading (FPSO) contract that could be worth up to $2.76b (US$2b).Although order wins have been behind expectations in m2019 amidst project delays in final investment decisions (FIDs), Sembcorp Marine’s (SMM) strong order pipeline could secure $3b or more worth of new orders in 2019, DBS Equity Research said. The research firm is also positive on SMM’s offshore capital expenditure (capex) recovery ahead. Amongst these contracts may include a Gravifloat modularised liquefied natural gas (LNG) which could go around $1b, two large Compressed Gas Liquid carriers for SeaOne Caribbean valued at $800m in total, and Rosebank’s floating production storage and offloading (FPSO) contract that could be worth up to $2.76b (US$2b). The firm has so far clinched around $1b of new orders YTD.

It saw a continuous growth in DPU. Improving office rents and retail sentiment in Singapore could unburden investors of the fear that Mapletree Commercial Trust may not be able to counter the impact of higher interest rates, DBS Equity Research said. “As investors acknowledge this fact, MCT’s share price should outperform,” they commented. Moreover, they noted MCT’s ability to deliver consistent growth in distribution per unit (DPU), highlighting the quality of its assets. However, DBS Equity Research noted that a key risk could be a retail sales slowdown which could hit VivoCity’s ability to hike its rents. Another key risk is a slower-than expected pick-up in office/business park rents, DBS Equity Research noted. In Q2, MCT’s NPI grew to $86.26m, up 2.2% YoY from $84.42m to $86.26m, an announcement revealed. Revenue also inched up 2.5% YoY to $109.92m.  

However, unemployment rates inched up slightly from 2% to 2.1%.

The $789.6m purchase price for Westgate implies a property yield of 4.3% or $2,746 psf.

It is currently available on Citibank Online.

All clusters contracted except for transport engineering and precision engineering clusters.

But its link with MasterCard would be its boon in the field, analysts said.

Transactions for HDB four-room were highest with 2,828 units involved.

Vacancy rates dropped 0.2% despite the 28,000 sqm net lettable area increase in the stock of office rentals.

Retail rent prices increased 0.3% amidst a 26,000 sqm net lettable area decrease in the amount of retail occupancies.

Private condo prices in the CCR rose 1.3%.

Gains were backed by higher contributions from VivoCity, MBC I, and MLHF.