3 Things You Need to Know About the Singapore Stock Market Today
It’s “Fri-yay”, everyone! Here are three things about the local stock market that you might be interested in today.
1. The Straits Times Index (SGX: ^STI), finished the day at 3,449.5 points, up 16 points or 0.5%. In all, there were 231 gainers to 203 losers.
The biggest winner in the index was Golden Agri-Resources Ltd (SGX: E5H). The palm oil producer’s shares soared 2.7% to S$0.38.
Meanwhile, Hutchison Port Hldg Trust (SGX: NS8U) fell the most today as it sunk 2.4% to US$0.415.
2. Keppel Infrastructure, a wholly-owned subsidiary of Keppel Corporation Limited (SGX: BN4), together with China Harbour Engineering Company Limited, has been awarded a contract worth HK$31 billion (around S$5.3 billion) to design, build and operate Hong Kong’s first Integrated Waste Management Facility. The facility will be located off the coast of Shek Kwu Chau, which is to the south of Lantau Island, Hong Kong.
The engineering, procurement and construction (EPC) phase will be undertaken by Zhen Hua, a subsidiary of China Harbour Engineering. During the EPC phase of the contract, Keppel Seghers, which is wholly owned by Keppel Infrastructure, will provide its proprietary waste-to-energy technology.
Thereafter, Keppel Infrastructure Services, a division of Keppel Infrastructure, will undertake the operations and maintenance of the facility for 15 years after completion in 2024.
Keppel Infrastructure’s share of the total contract is about HK$11.3 billion (approximately S$1.95 billion), with up to an additional HK$9.6 billion (around S$1.7 billion) for escalation provisions and other contingencies.
3. Boustead Projects Ltd’s (SGX: AVM) wholly-owned subsidiary, Boustead Projects E&C Pte Ltd, has won a contract from its repeat client, Bolloré Logistics Singapore Pte Ltd, for the design-and-build of a ramp-up logistics facility in Singapore.
The managing director of Boustead Projects, Thomas Chu, said:
“We are honoured to be awarded another contract from Bolloré Logistics, which follows the landmark Green Hub we completed for them back in 2012. This contract marks the fourth logistics project we have secured in FY2018, which reaffirms our position as the preferred design-and-build partner for logistics players and further extends our logistics industry track record, crossing one million square metres.”
The construction is expected to be completed in 2019. With the latest contract win, the order book backlog for the firm increases to S$300 million.