ESR-Reit

ESR-REIT has entered into an agreement to divest an industrial building, 45 Changi South Avenue 2, for S$11.1 million.

The price tag represents a 7.8 per cent premium to the property's fair value of S$10.3 million, said the Reit in a filing to the Singapore Exchange on Monday. The net proceeds will be used to repay outstanding borrowings, finance upcoming asset enhancements and/or fund general working capital requirements.

The four-storey general industrial building has a gross floor area of 73,684 square feet (sq ft).

Post-divestment, ESR-Reit's portfolio will consist of 57 properties across Singapore with a total gross floor area of approximately 15.6 million sq ft. The sale is subject to approval by JTC Corporation and is expected to be completed in Q1 2022.

OKP Holdings

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

ENGINEERING company OKP has landed a S$49.6 million contract from national water agency PUB for drainage improvement works in Sungei Selarang.

The works involve the upgrading of Sungei Selarang, which includes construction of a contiguous bored pile (CBP) wall, ground improvement, reinforcement concrete, and ancillary activities.

The 33-month contract starts on Sept 8 this year and is slated for completion by June 7, 2024. OKP has secured other contracts from PUB in the past and is currently working on another project with PUB.

The group's current net construction order book amounts to S$263.7 million, with projects extending to 2024, OKP said.

Sembcorp Industries

SEMBCORP Industries (Sembcorp) has launched a sustainable financing framework for sustainability-linked transactions for the energy sector.

The framework lays out Sembcorp's strategic approach, key performance indicators (KPIs) and sustainability performance targets (SPTs) for its sustainability-linked transactions. It can now issue sustainability-linked bonds, sustainability-linked loans or any other sustainability-linked instruments, following the guidelines in the framework.

The three KPIs identified by Sembcorp in the framework are greenhouse gas (GHG) emissions intensity, GHG absolute emissions and gross installed renewable energy capacity.

Sembcorp has also defined the SPTs that will measure the progress of its transformation towards a low-carbon and sustainable solutions portfolio, and contribute to the UN Sustainable Development Goals.

The SPTs laid out in the framework are: GHG emissions intensity reduction to 0.4 tonnes of carbon dioxide equivalent per MW hour (tCO2e/MWh) by 2025, absolute GHG emissions reduction to 2.7 million tCO2e by 2030, and the growth of its gross installed renewable energy capacity to 10 gigawatts (GW) by 2025.