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Daily Debrief: What Happened Today

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An artist's impression of the high-speed rail terminal in Jurong East.

Malaysia's Azmin confirms HSR postponed with no fine, says project deferred to 'future date'
MALAYSIA'S Economic Affairs Minister Mohamed Azmin Ali on Monday said an agreement has been reached with Singapore to postpone the High-Speed Rail (HSR) project to a future date without any compensation, and that the project would resume once the deferral ends.

Qingjian Realty unveils Shunfu Road condo units at average price of S$1,700 psf
IN what is the first major condo launch after July’s cooling measures, Qingjian Realty has unveiled its latest development at Shunfu Road, which comes complete with fully-integrated smart home technologies and an intelligent estate monitoring system.

Sabana Reit issues termination notice to tenant over S$2.14m in rental defaults
SABANA Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) announced it had issued a notice of termination on Aug 31 to Adviva Distribution, the tenant at 10 Changi South Street 2, due to the tenant's "failure to pay rent and other sums payable" under the lease agreement.

Nam Cheong launches 1-for-1 renounceable rights issue to raise up to S$29m
SHIPBUILDER Nam Cheong announced on Monday that under the scheme of arrangement between the company and its creditors, it is launching a non-underwritten, one-for-one renounceable rights issue at a price of S$0.014 for each new share.

Broker's take: PhillipCapital upgrades 800 Super to 'buy'; lowers target price to S$1.03
PHILLIPCAPITAL said in a research note on Monday: "The loss reported in the fourth-quarter is an aberration and the business has not changed structurally. This one quarter of loss is not reflective of future quarters, nor is it a precursor to deterioration of future earnings." 

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Johor proposes reserving 30% of Forest City project for Malaysians: report
THE Johor state government has proposed to reserve 30 per cent of properties in the Forest City project for Malaysians, reported The Malay Mail, to allay central government concerns only Chinese nationals who bought into the project would become residents there. 

The STI today

Singapore shares close 0.2% down on Monday
SINGAPORE shares closed 0.2 per cent lower on Monday, with the Straits Times Index down 6.28 points to 3,207.2 on the first day of trading in September. 


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