Keppel REIT 1H 2025 Investor Presentation:

Net Property Income (NPI): Up 11.8% year-on-year to S\$108.3 million, primarily driven by the acquisition and contribution of 255 George Street in Sydney and increased occupancy at 2 Blue Street, Sydney.
Distributable Income from Operations: Slipped marginally by 1.4% to S\$95.5 million, but would have risen 5.9% if management fees were paid entirely in units rather than partly in cash.
Distribution per Unit: 2.72 cents for 1H 2025.
Key Dates: Ex-Date: 6 Aug 2025, Record Date: 7 Aug 2025, Payment Date: 15 Sep 2025.

Marco Polo Marine Secures S$100 Million Ship Chartering Contracts, Strengthens Offshore Wind and Oil & Gas Market Position

Geo Energy Resources Completes Disposal of PT Surya Tambang Tolindo Subsidiary

First Resources Launches Major Mandatory Tender Offer After PT Austindo Nusantara Jaya Takeover.

Valuetronics Dilutes Stake in Trio AI as Yee Hop Joins JV: Major Ownership Shift and Board Changes Ahead

ASL Marine Increases Stake in PT. Cipta Nusantara Abadi to 80% Through Additional Investment in 2025

ValueMax Launches 3-Month Series 010 Commercial Paper on SDAX Exchange, Targeting Up to S$60 Million at 3.55% p.a.

Serial Achieva Subsidiary Secures US$22 Million Data Center Co-Location Contract in Southeast Asia

Tiong Seng Holdings Completes S$10.5 Million Disposal of 6 Tuas South Street 11 Property in Major Transaction

Samudera Shipping Line Ltd Incorporates New Subsidiary, Samudera Ship Holdings Pte Ltd, in Singapore

📊 SGX Share Buybacks

• Total YTD (to Sept 11): 76 companies repurchased $1.65B shares (+80% vs. $916M last year).

• Top 3 by value:

  • UOB: $560.8M (15.8M shares @ avg $35.39)

  • DBS: $371.1M (8.7M shares @ avg $42.77)

  • OCBC: $349.3M (20.95M shares @ avg $16.67)

• Other top 10: Keppel, Sembcorp, ST Engineering, Yangzijiang, SGX, Olam, Venture.

  • Keppel: $70.1M (8.5M @ $8.39)

  • Sembcorp: $59.1M (9.8M @ $6.05)

  • ST Eng: $44.3M (6.5M @ $6.82)

  • Yangzijiang: $29.5M (15M @ $1.97)

  • SGX: $22.4M (1.7M @ $13.07)

  • Olam: $20.8M (22.2M @ $0.935)

  • Venture: $18M (1.5M @ $12.29)

• Secondary-listed:

  • Hongkong Land: US$176M repurchase (@ US$5.62, cancellation by Dec 31).

  • CDL: 26.8M pref shares repurchased (78c) off-market.

• First-time buybacks in 2025: AEM, Kingsmen Creative, Jason Marine.

🚗 Nio Equity Offering

• Raised US$1.16B (S$1.48B) last week.

• Issued 181.8M shares:

  • US$5.57 per ADS.

  • HK$43.36 per Class A share.

• Use of funds: R&D (EV tech & platforms), expand charging/swapping infra, balance sheet strengthening, general corporate purposes.

• Managers: Morgan Stanley Asia, UBS, Deutsche Bank.

🏦 U.S. Federal Reserve Rate Decision

• Cut: 25bps → Fed funds 4.00–4.25%.

• Projections: 2 more cuts in 2025 (vs. 1 in June), one in 2026 & 2027.

• Powell’s message:

  • Labour market cooling; inflation still risk.

  • “Meeting-by-meeting” approach.

• Market reaction: muted (S&P -0.1%, bonds slight loss, USD up 7th Fed day in row).

• Analyst consensus:

  • Widely expected, not a pivot, more cuts possible this year.

  • Seen as cautious, balancing jobs vs inflation.

  • Some expect October & December cuts.

🚛 Skylink Holdings SGX Catalist Listing

• Debut: 20c → closed 24.5c (+22.5%).

• Intraday high: 27.5c (+37.5%).

• RTO details:

  • Proceeds: $9.2M (shares + convertible bonds).

  • Expanded issued shares: 34M → 176.3M.

• Business profile:

  • Large commercial leasing fleet in SG.

  • $66M loan book.

  • 7 in-house workshops.

  • Plans to expand fleet, financing & M&A.

☁️ Achieva Cloud Services

• Subsidiary of Serial Achieva.

• Contract value: US$22M (~S$28.1M) over 3 years.

• Service: AI cloud services via data centre provider.

• Incorporated: Aug 14, 2025 (Malaysia).

• Business scope: co-location services (data centre space, power, infra hosting).

• Strategic aim: entry into cloud storage, AI, digital infrastructure.

📰 Quick Note

• DBS acquired 250,000 SingPost shares for $110,000.

Thank you