SG Morning Highlights | Singapore exports fall again by 14.6% in November, more than expected

Advancers / Decliners is 32 to 82, with 39.98 million securities worth S$43.72 million changing hands.

Singapore'S non-oil domestic exports (NODX) contracted by 14.6 per cent on the year in November from a high year-ago base, going by Enterprise Singapore (EnterpriseSG) data on Friday (Dec 16). The month's decline far outstripped the median 6.5 per cent decline forecast by private-sector economists in a Bloomberg poll.

Both electronic and non-electronic exports fell. The latest prints marked the second consecutive month of decline, after October's 6.1 per cent fall, which was the first since November 2020.

On a seasonally-adjusted monthly basis, NODX decreased by 9.2 per cent in November, extending the 4.2 per cent decline in the preceding month. Both non-electronic and electronic NODX contracted sequentially. On a seasonally-adjusted basis, the level of NODX was S$14.3 billion in November, lower than in October (S$15.8 billion), the same period a year ago (S$16.8 billion) and 2021's average (S$16.1 billion).

US retail sales fell in November by the most in nearly a year, reflecting softness in a range of categories that suggest some easing in Americans' demand for merchandise.

The value of overall retail purchases dropped 0.6 per cent last month after rising 1.3 per cent in October, Commerce Department data showed on Thursday (Dec 15). Excluding petrol and autos, retail sales were down 0.2 per cent. The figures aren't adjusted for inflation.

The median estimate in a Bloomberg survey of economists called for a 0.2 per cent decline in total retail sales.

Indonesia's parliament on Thursday (Dec 15) ratified an agreement for the extradition of fugitives with Singapore, the last of three agreements on outstanding bilateral issues between the two countries.

Law and Human Rights Minister Yasonna Laoly told the House of Representatives (DPR) that an extradition treaty is a form of international cooperation and an effort by the Indonesian government to not only provide justice and protection for its citizens, but also demonstrate its active role in maintaining world order.

The agreement between Indonesia and Singapore, he said, will provide "legal certainty" for the two countries in carrying out extradition of fugitives.

The buyer, Sustainable Waste Management Holdings, is a unit of Singapore-based Nutara Investment, Aspen disclosed in a Thursday (Dec 15) bourse filing. Aspen previously entered an agreement to sell the land and factory with another buyer, Cambridge Real Estate Partners, in October, but this was terminated on Dec 6 due to non-fulfilment of certain conditions.

Nutara is part of a German-originated group of companies active in construction and environmental technologies. It also indirectly holds 49 per cent of Tialoc Malaysia, a company that in March served notices of claims for over RM100.4 million to two Aspen units.

The purpose-built student accommodation (PBSA) properties have a combined portfolio of 1,863 beds and an average committed occupancy rate of over 98 per cent, CDL said on Thursday (Dec 15).

The newly-acquired properties are located across the UK, spanning Birmingham, Canterbury, Coventry, Leeds and Southampton.

Chip Eng Seng had purchased the assets in 2017 for A$15 million. It granted the OTPs to Acure Funds Management and MF Hospitality Management, both part of the Acure Asset Management real estate funds management group, which is headquartered in Perth.

The assets being disposed of are a strata hotel property and strata restaurant property located at 1 Marco Polo Drive in Mandurah, and the hotel business known as The Sebel Mandurah.

The Catalist-listed company hopes to tap Elliot & Co's network to grow its post-production business. This will enable cross-selling opportunities and provide a more holistic suite of value propositions, it added.

Incorporated in Singapore in 2016, Elliot & Co also has offices in Malaysia and Indonesia. Vividthree's investment will be funded through internal resources, and if needed, fundraising exercises.