Market Snapshot

Singapore stocks opened lower on Tuesday. STI fell 0.13%; OUEREIT, Keppel DC Reit, Frasers Property up around 1%; ThaiBev, YZJ Fin Hldg down over 1%.

Stocks in Focus

Manulife US Real Estate Investment Trust (Manulife US Reit): The Reit manager posted an update on Wednesday that the master restructuring agreement concessions, which include an extension of its asset disposal deadline and temporary relaxation of its financial covenants from Dec 31, 2025, to Jun 30 next year, have been granted. It grants consent to keep its unencumbered gearing not more than 80 per cent until Jun 30, and to keep interest coverage ratio at no less than 1.5 times until Dec 31 next year. Units of Manulife US Reit ended at US$0.072, US$0.001 or 1.4 per cent higher on Tuesday.

Nam Cheong: The offshore marine company announced on Wednesday that it has entered into an agreement with a Vietnam-based offshore and marine group to sell a 4,000 deadweight tonne platform supply vessel for US$20.5 million. The delivery is scheduled for December this year. Net proceeds from the deal will be used mainly to support the company’s shipbuilding activities. Shares of Nam Cheong closed 0.6 per cent or S$0.005 down at S$0.845.

SG Local News

COE Supply Expected to Rise 20% in 2026, but Premiums May Not Fall in Proportion

The supply of passenger car Certificates of Entitlement (COEs) may grow some 20 per cent next year, but premiums may not fall significantly, say industry observers.

This is because demand will remain strong, supported by electric vehicle (EV) buyers and private-hire car (PHC) fleets.

“Weighing the major factors’ probabilities, I think COEs will not trend downwards significantly in 2026,” said automotive consultant Say Kwee Neng.

Mitsui OSK Inks Financing Deal for Singapore LNG Terminal with Banks Including DBS, OCBC

Mitsui OSK Lines (MOL) has signed a project finance agreement with a banking syndicate for a newbuild floating storage and regasification unit (FSRU) in Singapore.

The FSRU – a type of ship that receives and stores liquefied natural gas (LNG) offshore, before regasifying and then sending it back to shore – will be operated by state-owned LNG terminal operator, Singapore LNG Corporation as the city state’s second LNG terminal.

The banks involved in the agreement are DBS, OCBC, Standared Chartered Bank (Singapore), Japan Bank for International Cooperation and Mitsubishi UFJ Financial Group, said MOL on Tuesday (Dec 23).