News

Contract valued over S$29mln will construct tugs over nest 16 months for Overseas Shipholding Group.

ST Aerospace will provide comprehensive engines maintenance and engineering support for Jet Airways’ 143 CFM56-7B engines.

Landlords are more reluctant to lower rents as Q1 2010 office occupancy rate up 92.6%.

Rents seen to bottom this year as Q1 2010 figures stabilize after 5 months of decline.

SingStat has released data in The Services Sector report as part of the Economic Survey Series, including the 11.1% rise in Total operating receipts to $1,705.2 billion.

Move was prompted by companies’ 3 consecutive years of financial losses.

7% rate remains low despite global trend making goods and services tax key government revenue source.

The 3.07 ha land parcel at Upper Changi Road North / Flora Drive is now for sale by public tender and has the potential to yield 390 units.

New index aimed to meet investor demand and highlights 20-yr partnership between SGX and Nikkei. Singapore Exchange (SGX) said Mar. 29 that it will offer a new futures contract based on the soon-to-be-launched Nikkei Stock Average Dividend Point Index. Nikkei Inc. (Nikkei) will begin calculating the index in April 2010. Subject to regulatory approval, SGX targets to launch the new SGX Nikkei Dividend Point Index futures contract by the third quarter of 2010. The Nikkei Stock Average Dividend Point Index is calculated based on accumulated dividends received by investors from constituent companies of the Nikkei Stock Average over a calendar year. Further details on the Index can be found here. Mr Chew Sutat, Executive Vice President and Head of Market Development of SGX, said, “We are pleased to deepen our cooperation with Nikkei, with which we have enjoyed a strong 20-year relationship. The SGX Nikkei Dividend Index futures will complement our existing suite of Nikkei-based products and meet investor demand for exchange-listed derivatives to hedge and manage dividend exposure.”

Firm will construct S$1.1bln Fast Missile Craft for Egyptian Navy in partnership with US Navy.

Receiving bad news though was the transport engineering cluster given the 17.7% decline in its output in February on a year-on-year basis.

One deal is for a Floating Production Storage and Offloading facility which, when completed, will be able to produce up to 45,000 barrels of oil per day and store 1,000,000 barrels of oil.

Temasek Holdings has purchased a 1.18 percent stake in LAN Airlines, Chile's flagship carrier.

Responding to REDAS President Simon Cheong's comments on Government intervention to stop private residential prices from rising, the Ministry of National Development says the aim is to maintain a steady and healthy property market.

SRPI will aid the analysis of price trends by offering a snap shot of the non-landed residential property market.

The 3.2 ha industrial site at Woodlands Avenue 12 has been launched for public tender for minimum bid price of S$25 million.