Market Snapshot

Singapore stocks opened flat on Thursday. STI rose 0.04%; HPH Trust, YZJ Shipbldg up around 2%; StarHub, YZJ Maritime up around 1%; Kep Infra Tr, CityDev down around 1%.

Stocks in Focus

Seatrium: The offshore and marine group said on Wednesday that it has launched a S$3 billion multicurrency debt issuance programme. The net proceeds will be used for refinancing existing borrowings, funding potential acquisitions and investments, working capital and capital expenditure requirements, as well as providing internal loans within the group. Shares of Seatrium ended at S$2.45, 1.2 per cent or S$0.03 lower, on Wednesday.

SIA Engineering: The company appointed Lim Sim Seng as deputy chairman and non-executive independent director of the board, effective Wednesday. A bourse filing on the same day indicated that the 67-year-old has also been appointed as a member of the nominating committee, the compensation and human resources committee, and the executive committee. Shares of SIA Engineering closed 2.7 per cent or S$0.09 higher at S$3.37 on Wednesday, before the news.

SG Local News

Singapore Government Offices Told to Rein in Air-Conditioning

Government facilities in Singapore will take steps to reduce electricity consumption to boost the nation’s energy resilience as the conflict in the Middle East tightens global energy supplies.

Immediate measures include setting the air-conditioner at 25C or higher, managing operating times for air-conditioning, lighting and lifts and unplugging or turning off non-essential equipment when not in use, the National Environment Agency said in a statement on Wednesday.

Singapore’s New Worker Dorm Tests Government’s Public Health Pledge

In the early days of Covid, Singapore’s worker dormitories quickly turned into a public health crisis as the virus tore through the structures where thousands of people often live in close proximity. The government promised to learn its lesson from the pandemic, and a new housing complex for workers is putting that pledge to the test.

The dormitory, called NESST Tukang — named for the entity set up by the Ministry of Manpower (MOM) to Nurture, Engage, Support, Shape and Transform migrant worker housing — sits in an industrial part of Singapore’s far west. Opened this year, it’s the first to be wholly owned by the government, which it built following consultations with workers.