SG Morning Highlights: Singapore office S-Reits poised to benefit from positive rental momentum

Good morning moomooers! Here are things you need to know about today's Singapore:

●Singapore shares were flat; STI up 0.03%

●Singapore office S-Reits poised to benefit from positive rental momentum

●Stocks to watch: CapitaLand Investment, SPH, SPH Reit, ALog Trust

-Moomoo News SG

Market Trend
Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index (.STI.SG)$ increased 0.03 per cent to 3,420.24 as at 9.32am.

Advancers / Decliners is 157 to 73, with 268.95 million securities worth S$184.41 million changing hands.

Breaking News
Singapore office S-Reits poised to benefit from positive rental momentum

Singapore'S Central Business District (CBD) saw Grade A office rents record the fastest quarterly growth since rents turned around in Q2 2021, according to JLL Singapore in a recent report.

Office Reits may also be poised to benefit from a growth in demand for office space as up to 75 per cent of office workers are allowed to return to their workplaces, even as hybrid working continues.

Stocks to Watch
$CapitaLand (C31.SG)$ : Capitaland Development (CLD), the development arm of CapitaLand Group, has won the bids for 2 prime residential sites in China for a total price of 3.5 billion yuan (S$748 million).

CLD plans to build on these sites 1,581 homes catering to first-time homebuyers and upgraders, bringing its residential pipeline under development in China to 19,139 units, CapitaLand said in a statement on Monday (Apr 4).

$ARA LOGOS Log Tr (K2LU.SG)$ : The manager of ARA LOGOS Logistics Trust (ALOG) has received a writ of summons for a claim pertaining to TheSeafoodCompany arising from an incident that took place in September 2021. TheSeafoodCompany (TSC) is a tenant of one of ALOG’s properties at 2 Fishery Port Road.

The amount in dispute is around $8 million including interest and costs.

$SPH (T39.SG)$ and $PARAGONREIT (SK6U.SG)$ : AS retail sentiments improve, SPH Real Estate Investment Trust (Reit) on Friday (Apr 1) posted a distribution per unit (DPU) of 1.44 Singapore cents for the fiscal second quarter ended Feb 28, 2022, bringing total distributions for the first half of the year to 2.68 cents.

CUSCADEN Peak's bid to acquire Singapore Press Holdings (SPH) via a scheme of arrangement was sanctioned in court on Friday (Apr 1).The last day of trading for SPH will be Apr 7, before the group's shares are suspended from 9 am the following day and subsequently delisted on May 13.