Sembcorp Industries: The group on Monday said its subsidiary Sembcorp Environment has agreed to divest its 40 per cent stake in SembSita Pacific to 60 per cent joint venture partner Suez Environnement Asia for A$485 million (S$488 million). This will be settled in cash.\
Separately, on Friday, Sembcorp also said it has tied up with the
Singapore Economic Development Board to be the country's first
industrial "living laboratory". This means Sembcorp will grant
technology providers access to its proprietary wastewater-treatment and
waste-to-energy facilities on Jurong Island for late-stage test-bedding
and co-innovation of water and environmental technologies.
Singapore real estate investment trusts (S-Reits): The FTSE ST Reits Index rose as much as 2.5 per cent on Friday, before ending at 694.15, up 0.5 per cent. This outdid the Straits Times Index, which fell 0.6 per cent to 2,879.59. This came after the US Federal Reserve kept interest rates unchanged.
Reits are rate-sensitive vehicles whose prices tend to move inversely
to interest rates, but analysts advised investors against getting
carried away, and remained doubtful that the near-term liquidity rush
into the sector will revive its index back to the over-770 level that it
was at in late July.
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