SG Morning Highlights | Keppel REIT Prices A$175 Million Floating Rate Green Notes Due 2027

Advancers / Decliners is 72 to 43, with 57.78 million securities worth S$61.68 million changing hands.

Singapore's labour market continued to expand in the first quarter of the year, with more residents finding jobs, according to the Ministry of Manpower. Total employment rose by 4,700 in Q1, mainly due to a 5,500 increase in resident employment. However, there was a decline in jobs available for non-residents, with employment in this segment falling by 800 in the same period. The financial and insurance services and public administration sectors were the most active in hiring residents, while the construction and manufacturing sectors mainly contributed to the shrinking labour market for non-residents. The overall unemployment rate inched up to 2.1% in March, but the ministry expects the jobless rate to be mitigated by declining retrenchments.

The Housing and Development Board (HDB) has launched its June Build-to-Order (BTO) exercise, offering 6,938 flats across eight projects in Jurong East, Kallang/Whampoa, Queenstown, Tampines, Woodlands, and Yishun. The flats, ranging from 2-room to 3Gen units, are priced with significant market discounts for affordability, and half of them have waiting times of four years or less. The June sales launch also includes developments under the Prime Location Public Housing (PLH) model, with additional subsidies on top of market discounts. Eligible young couples can defer income assessment for the Enhanced CPF Housing Grant (EHG) and HDB housing loan, paying only 2.5% of the flat price upon signing, with the remaining amount payable upon key collection. Applications are open until 26 June.