Latest news with #FCT
Business Times
15-07-2025
- Business
- Business Times
Stocks to watch: SGX, Frasers Centrepoint Trust, NTT DC Reit, BRC Asia
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Jul 15): Singapore Exchange (SGX) : Shares of Hong Kong-listed pharmaceutical group China Medical System are expected to commence trading on the SGX on Jul 15, although there is no guarantee that the proposed listing will happen as it is subject to conditions. The closing price of its shares as quoted on the Hong Kong Stock Exchange on Monday was HK$12.540, the company said in a bourse filing on Monday. SGX shares closed on Monday 1.2 per cent or S$0.18 higher at S$15.64. Frasers Centrepoint Trust (FCT) : The manager of FCT announced that the agreement between the trustee-manager and property manager of retail mall Northpoint City South Wing has been automatically renewed for a further 12 months commencing from Monday. The agreement is generally aligned with the property management agreements across all retail malls owned by FCT and managed by the property manager, and include the adjoining retail mall known as Northpoint City North Wing. Units of FCT closed up 1.4 per cent or S$0.03 at S$2.22 before the news. NTT DC Reit: Units of the real estate investment trust (Reit) commenced trading on the local bourse at 2 pm on Monday, marking the largest Reit initial public offering on the SGX in a decade. Pol de Win, head of global sales and origination at SGX Group, noted that the listing 'underscores Singapore's position as Asia's leading Reit hub'. Units of NTT DC Reit closed flat at the offer price of US$1 on Monday. BRC Asia : The prefabricated steel reinforcement company secured around S$570 million worth of contracts for the Changi Airport Terminal 5 project, where it will supply steel reinforcement for the substructure of the upcoming terminal. The group said on Monday that the new contracts bring its outstanding sales order book to S$2 billion as at Jul 14, and extend its revenue visibility through to 2029. Shares of BRC Asia closed flat at S$3.33 before the announcement.
BBC News
06-07-2025
- Politics
- BBC News
'Peter Obi no go ever be president'
Nigeria Minister of di Federal Capital Territory (FCT), Nyesom Wike say, 2023 Labour Party presidential candidate Peter Obi no go ever be president of di kontri. Di one time govnor of Rivers State, tok dis one during one thanksgiving wey dem do for project inauguration for Abuja. Wike, one of di close allies of President Bola Tinubu, tok dis one as im dey react to one new coalition party wey some heavy weight politicians wit presidential ambition form as opposition to di ruling All Progressive Congress (APC) party. E say, "You say Peter Obi go be president. President wia? Some of una no sabi somebody, una go just dey tok out of emotion." Di minister also drag oda coalition members Atiku Abubakar, Rauf Aregbesola and odas. Oga Wike kwesion why former vice president of di kontri and di 2023 presidential candidate of di Peoples Democratic Party dey jump from one party to anoda. "How Nigerians no go vex for you today. For 1999 you dey dis party. For 2006 you dey anoda party, for 2014, you move go anoda party. In 2019 you go back to anoda party. Now 2025 you dey go anoda party. To rescue who?" Wike ask. E tell former minister of interior, Arebesola say n aim Nigerians dey angry wit becos im make dem wait for many many months before dem for fit get dia international passport. Di minister declare say as all of dem don comot from power, dem no go come back.
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First Post
04-07-2025
- Politics
- First Post
Africa News Live Updates: Two South African engineers released from Equatorial Guinea after two years in detention
Africa News Live Updates: Welcome to our live blog covering the latest from across Africa. Follow real-time updates on political transitions, security and peacekeeping operations, regional integration efforts, economic innovation, climate impacts, migration trends and grassroots activism. Track the continent's evolving stance on global affairs and its efforts to tackle internal and external challenges across sectors read more Welcome to Africa News Live Updates for Friday, July 4. We're tracking major developments across the continent, from political shifts and human rights milestones to public health insights and judicial rulings. In Equatorial Guinea, two South African engineers have been released after over two years in detention, ending a prolonged diplomatic and legal ordeal. Meanwhile in Nigeria, the head of the country's human rights commission has been elected to lead a key West African network, pledging reforms across the region's institutions. In other Nigerian news, a court handed down convictions in both cybercrime and illegal mineral possession cases, while the electoral commission received a dozen new applications for political parties—hinting at a more crowded political landscape ahead. Elsewhere, the FCT minister has authorised funds to address a teachers' strike in Abuja, and new wildlife footage from Uganda offers fresh clues on how deadly viruses can move from bats to other species a significant find in the context of global pandemic preparedness. Stay connected to Africa throughout the day: New video footage from a national park in Uganda shows a variety of predatory species feeding on and dispersing fruit bats, which are known natural reservoirs of infectious diseases, according to a report in The New York Times. The footage provides visual evidence of a potential pathway for zoonotic spillover, where viruses can leap from bats to other animals and potentially to humans. This observation is significant for understanding the mechanisms of disease transmission in the wild and informs global efforts for pandemic preparedness and surveillance. Nyesom Wike, the Minister of Nigeria's Federal Capital Territory (FCT), has approved the use of 10% of the internally generated revenue from the six area councils to settle outstanding dues owed to striking primary school teachers, Premium Times says in a report. The decision is a response to an ongoing strike by teachers, who have accused the council chairpersons of failing to implement the new national minimum wage and other previously reached agreements. Nigeria's Independent National Electoral Commission (INEC) has received 12 new applications from groups seeking to register as political parties between June 23 and July 2, according to a report in Premium Times. The receipt of these applications marks the first step in the commission's process for vetting potential new parties to ensure they meet the country's legal and constitutional requirements for official registration. A court in Nigeria's Kwara State has sentenced one individual to jail for the illegal possession of solid minerals and convicted three others in separate cases of internet fraud, according to a report in Premium Times. The individual jailed for the minerals offense, identified as Basit, was arrested by the Economic and Financial Crimes Commission (EFCC) in June 2024 in the Asa Local Government Area for transporting the resources without the required documentation. The convictions are part of a broader Nigerian government effort to address economic crimes, including illegal mining and cybercrime. The head of Nigeria's National Human Rights Commission (NHRC) has been elected to serve as the president of the Network of National Human Rights Institutions in West Africa, according to a report in Premium Times. The new president stated that a primary focus of the tenure will be on enhancing the capabilities of the national institutions across the region. This includes addressing persistent challenges related to resourcing, governance structures, and the operational effectiveness of the member National Human Rights Institutions (NHRIs). Two South African engineers have been released from jail in Equatorial Guinea after being detained for more than two years, Daily Maverick says in a report. The release concludes a prolonged period of incarceration for the two nationals in the Central African country. Welcome to Africa News Live Updates for Friday, July 4. We're tracking major developments across the continent, from political shifts and human rights milestones to public health insights and judicial rulings. In Equatorial Guinea, two South African engineers have been released after over two years in detention, ending a prolonged diplomatic and legal ordeal. Meanwhile in Nigeria, the head of the country's human rights commission has been elected to lead a key West African network, pledging reforms across the region's institutions. In other Nigerian news, a court handed down convictions in both cybercrime and illegal mineral possession cases, while the electoral commission received a dozen new applications for political parties—hinting at a more crowded political landscape ahead. Elsewhere, the FCT minister has authorised funds to address a teachers' strike in Abuja, and new wildlife footage from Uganda offers fresh clues on how deadly viruses can move from bats to other species a significant find in the context of global pandemic preparedness. Stay connected to Africa throughout the day:
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First Post
03-07-2025
- Politics
- First Post
Africa News Live Updates: Crime reportedly on the rise in South Africa across six key categories
July 3, 2025, 10:46:08 (IST) Whatsapp Facebook Twitter Tinubu brokers new truce between Wike and Fubara in Rivers State political crisis A fresh truce has been brokered by Nigerian President Bola Tinubu between Federal Capital Territory (FCT) Minister Nyesom Wike and Rivers State Governor Siminalayi Fubara, as both figures have spoken on the new agreement, Premium Times says in a report. This development is the latest attempt to resolve the protracted political power struggle in Rivers State, which has persisted since Governor Fubara took office. The intervention by President Tinubu follows previous peace deals that have failed to create lasting stability, as the conflict between Wike, the former governor, and his successor Fubara has continued to impact governance in the state.
Business Times
29-06-2025
- Business
- Business Times
Best performing S-Reits post double-digit total returns in H1
[SINGAPORE] The S-Reit sector delivered a stable performance in the first half of 2025, with the iEdge S-Reit index gaining 0.6 per cent to 1,010.73 as at Thursday (Jun 26), and dividends taking the index total returns to 3.2 per cent for the period. More than half the 30 constituents on the iEdge S-Reit index delivered positive total returns in the first six months of the year, and the top five performers delivered double-digit total returns over the period. These outperformers were Frasers Hospitality Trust (FHT), CapitaLand Integrated Commercial Trust (CICT), First Reit , Frasers Centrepoint Trust (FCT) and Parkway Life Reit. Their year-to-date total returns ranged between 10 and 21.4 per cent as at Thursday. Most of the outperformers in the first half reported robust operating performance with stable occupancy and positive rental reversions. FCT's revenue and net property income (NPI) grew by 7.1 per cent and 7.3 per cent on year to S$184.4 million and S$133.7 million, respectively, in H1 2025. This growth was primarily driven by increased occupancy and passing rent across its portfolio of malls, and the completion of asset enhancement initiatives at Tampines 1. Distribution per unit (DPU) grew 0.5 per cent to S$0.06054. Similarly, ParkwayLife Reit reported higher gross revenue in Q1 2025, arising from the contribution of nursing homes acquired in Japan and France. Its DPU rose 1.3 per cent to S$0.0384. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up On a like-for-like basis, CICT charted growth in Q1 gross revenue and NPI of 1.1 per cent and 1.4 per cent, respectively, and it continued achieving higher signing rents for new and renewed leases. FHT's outperformance came on the back of a proposed privatisation. The Reit sector trades at compelling valuations relative to its historical average. As of end-May, the forward dividend yield for the FTSE ST Reit Index was around 6.4 per cent, representing a yield spread of nearly four percentage points to benchmark 10-year Singapore Government Bond yields, higher than the 10-year average. In terms of price-to-book ratio, the sector trades under 0.8 times, below the 10-year average of 1.0 times. The strongest performing S-Reits on the iEdge S-Reit index in the first half of 2025 were also among those with the highest price-to-book ratios currently. The top seven performers in H1 have price-to-book ratios of between 1.0 and 1.7 times, higher than the sector average. For the first half of 2025, retail investors were net buyers of S-Reits, with the sector receiving total net inflow of around S$400 million as at Jun 26. Institutional investors were net sellers of S-Reits over the period, with over S$500 million in net outflows. However, some S-Reits (including CICT, FHT and ParkwayLife Reit) bucked the trend and recorded net institutional inflows in H1. Institutions have also been net-buying the Reit sector in recent weeks with more than S$100 million in net inflows for the five sessions to Jun 26. As the second half approaches, investors will be watching for the path of interest rates as well as continued operational resilience. While the US Federal Reserve has so far not cut interest rates in 2025, expectations are for several rate cuts to come later in the year. In Singapore, domestic interest rates have also been falling, with the three-month compounded Singapore Overnight Rate Average slipping from 3.0227 on Jan 2 to 2.0797 on Jun 26. Analysts watching the sector have noted that the decline in local borrowing rates has not triggered significant unit price movements for the sector thus far. However, investor sentiment may improve if global interest rates abroad are eventually cut. The writer is a research analyst at SGX. For more research and information on Singapore's Reit sector, visit for the S-Reits & Property Trusts Chartbook.
