3 Things You Need to Know About the Singapore Stock Market Today

Welcome to a brand-new week, Fools! Here are three things about the local stock market that you might be interested in today.

1. The Straits Times Index (SGX: ^STI), ended the day at 3,215.91 points, down 4.34 points or 0.1%

The biggest loser in the index was SATS Ltd (SGX: S58), tumbling 1.7% to S$4.57.

Meanwhile, the STI component that gained the most was commodity firm, Golden Agri-Resources Ltd (SGX: E5H). The company’s shares surged 2.6% to S$0.39.

2. Ascendas Real Estate Investment Trust (SGX: A17U) made an announcement today that it had acquired a freehold office property located at No. 100 Wickham Street, Fortitude Valley, in Queensland, Australia, for A$83.8 million (around S$90 million). The acquisition was funded through internal resources and existing debt facilities.

The property is 100% occupied, and the key tenants include the State of Queensland (Department of Health) and three data centre operators. The leases have annual rental escalations of between 3% and 4%.

The net property income yield for the first year is around 7.1%, after accounting for transaction costs. On an annualised pro forma basis, the distribution per unit for the financial year ended 31 March 2017 would have seen an improvement of 0.3%.

The units closed at S$2.68 for the day, up 0.4%.

3. The subsidiary of Koh Brothers Eco Engineering Ltd (SGX: 5HV) won a S$225.4 million contract related to the Circle Line 6 project, which comprises of three stations that will close the loop for the Circle Line by connecting the Harbourfront and Marina Bay stations.

Koh Brothers Eco’s Chief Executive Officer, Mr Paul Shin, commented:

“This is a significant win for Koh Brothers Eco, and a testament of the authorities’ confidence in our capabilities amidst the project’s challenges, including carrying out works in the densely populated Marina Bay area”.

The project will add to the firm’s order book, which was lifted to S$696.9 million. Work will start by the end of the year and it is expected to be completed by 2025.

Shares of Koh Brothers Eco Engineering ended the day flat at S$0.075.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of SATS Ltd. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.