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Daily Debrief: What Happened Today
Temasek Holdings Pte is discussing options for portfolio companies Keppel Corp and Sembcorp Industries Ltd, ranging from divesting their non-core assets to selling shares, as the two Singaporean rig builders grapple with the oil-price slump, people with knowledge of the matter said.
Singapore's manufacturing output declined by a more-than-expected 7.9 per cent in December last year when compared with December 2014, dragged down by a staggering 40.3 per cent shrinkage in the marine and offshore engineering segment.
With the bill for SMRT Corp's rail maintenance set to eat up half of its rail revenue, the operator has re-categorised operating expenses to highlight aggregate maintenance-related expenses (MRE) in a bid to better illustrate its total maintenance cost.
JTC has launched a confirmed list site at Tampines Industrial Drive for sale via tender under the industrial government land sales (IGLS) programme.
China's stocks tumbled to the lowest levels in 13 months amid concern capital outflows will accelerate as the economy slows and support for the yuan eats into the nation's foreign reserves.
- Suntec Reit's Q4 distributable income up 7.7%
- Starhill Global Reit posts Q2 DPU of 1.32 cents, up 2.3% y-o-y
- Ascott Reit reports DPU of 2.07 S'pore cents for Q4 2015, down 4%
The STI Today
According to the federal funds futures market, the current probability that the US Federal Reserve will raise interest rates at this week's Federal Open Markets Committee meeting is zero. This shouldn't come as a surprise, given the massive turmoil that falling oil prices and a volatile China have inflicted on global equities over the past three weeks.