SG Morning Highlights | Sembcorp Unit Bags 117 MWp Solar Project by JTC

Singapore shares opened higher on Thursday. The $FTSE Singapore Straits Time Index(.STI.SG)$ rose 0.84 per cent to 3,130.23 as at 9.20 am.

$Cordlife(P8A.SG)$: Cordlife has accepted the Ministry of Health’s (MOH) suspension notice to stop collecting new cord blood and human tissue, among other operations, for a period of six months. The other operations include testing, processing and storage any new cord blood and human tissues, or providing any new types of tests to patients. It will not make submit written representations to MOH on the notice, said the consumer healthcare group on Wednesday (Dec 13).

$Sembcorp Ind(U96.SG)$: Sembcorp obtained a 300 MW solar project from Indian government enterprise NHPC, it said on Thursday (Dec 14). The group's wholly owned renewables subsidiary Green Infra Wind Energy will undertake the build-own-operate project, which is part of a 3 GW bid issued by NHPC earlier this year. The project will be funded through a mix of internal funds and debt, and will be commercially ready to operate in 2026. Upon completion, power output from the project will be sold to NHPC under a 25-year power purchase agreement, Sembcorp noted.

$ManulifeReit USD(BTOU.SG)$: 11 out of 12 of Manulife US Reit lenders have obtained the necessary approvals in relation to a plan to restructure the Reit’s existing facilities, while the remaining lender is pending final board approval. The update, provided by the Reit's manager on Wednesday (Dec 13) evening, has to do with MUST's plans to raise funds through a mix of asset dispositions and a sponsor-lender loan to remedy the Reit's financial covenant breach. The recapitalisation plan – which requires unitholders to vote on three inter-conditional resolutions at an upcoming extraordinary general meeting (EGM) – seeks to "revitalise" the Reit, and provide more time for the manager to sell assets and realise value.

$Del Monte Pac(D03.SG)$: Canned food brand Del Monte Pacific on Wednesday (Dec 13) posted a net loss of US$8.5 million for the second fiscal quarter ended October, a reversal from earnings of US$49.5 million in the year-ago period. On a per-share basis, the group's losses came in at US$0.0044, versus earnings per share of US$0.0246. This took the group's net losses for the first half of its fiscal year to US$21.6 million, versus a net profit of US$69.2 million in the corresponding year-ago period, which excludes one-off items.