SG Morning Highlights | Keppel Corp and Partners Forge Alliance for Low-Carbon Technologies in Singapore

Singapore shares opened lower on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ dropped 0.42 percent to 3,187.97 as at 9.08 am.

$Keppel (BN4.SG)$: Keppel Corporation and other industry leaders have signed an MOU to expand collaboration on low-carbon opportunities, focusing on carbon capture and hydrogen initiatives. The Low Carbon Technology Industry Consortium (LCT-IC) aims to accelerate the development of cost-effective carbon capture, utilization, and storage (CCUS) solutions, alongside enhancing hydrogen power infrastructure. Despite challenges in scalability and cost, this collaboration reinforces Singapore's commitment to achieving net-zero targets through innovative R&D and energy transition strategies.

$Ho Bee Land (H13.SG)$: Ho Bee Land, a real estate group, has announced expectations for its net losses to expand for the full year ending December 31, 2023, from its current net-loss position reported for the half-year period ending June 30, 2023. The forecasted increase in net losses is primarily attributed to fair-value losses on its London investment property portfolio, as indicated by preliminary valuations. The group emphasized that the fair-value loss is a non-cash item, largely driven by higher capitalization rates. Detailed financial results will be released with the company's unaudited full-year 2023 financial statements, due on or before February 26. Ho Bee Land's shares remained unchanged at S$1.77 at the close of trading on Thursday, prior to the announcement.