SG Morning Highlights | Nio Sets New Record with Delivery of 20,544 Vehicles in May, Up 233.8% YoY

Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.30 percent to 3346.65 as at 9:05 am.

The iEdge S-Reit Leaders Index has experienced a decline of 12.3% for the year to May 29, with its total return being negative 9.5%. The index's 22 constituents have generated total returns ranging from a positive 1.3% for $AIMS APAC Reit (O5RU.SG)$ to a negative 25.2% for. During this period, the combined net institutional outflow for the 22 constituents amounted to just over S$790 million. Only $DigiCore Reit USD (DCRU.SG)$, $FRASERS CENTREPOINT TRUST (J69U.SG)$, and $ESR-LOGOS REIT (J91U.SG)$ were able to buck the trend and record net institutional inflow.

$NIO Inc. USD OV (NIO.SG)$: Nio, the electric car maker, has reported a record high monthly delivery of 20,544 vehicles in May 2024, a significant increase of 233.8% compared to the same period the previous year. The May deliveries included 12,164 premium smart electric sports utility vehicles and 8,380 premium smart electric sedans. In the first five months of the year, Nio delivered a total of 66,217 vehicles, representing a YoY increase of 51%. As at the end of May, the company has delivered 515,811 electric vehicles since its inception.

$Seatrium Ltd (5E2.SG)$: Seatrium has signed a memorandum of understanding (MOU) with M1 to enhance its yard operations with 5G network capabilities. This partnership is in line with Seatrium's digital strategy, which aims to establish a smart yard equipped with ultra-high-speed connectivity. The MOU aims to explore 5G connectivity within Seatrium's yards in Singapore, which would enable the implementation of a range of digital capabilities such as smart video analytics and artificial intelligence to enhance the group's overall operations.

$Sembcorp Ind (U96.SG)$: Sembcorp Development has added three industrial parks in Vietnam to its expanding portfolio of low-carbon industrial parks. Investment licences for VSIP Thai Binh, VSIP Quang Ngai II and Becamex-VSIP Binh Thuan were awarded to companies held by Vietnam Singapore Industrial Park Joint Venture Company (VSIP JV Co), Sembcorp Industries said on last Friday (May 31). Sembcorp Development is its wholly owned subsidiary.

$PARAGONREIT (SK6U.SG)$: Paragon REIT is reportedly in advanced negotiations to sell The Rail Mall in Upper Bukit Timah for slightly over S$80 million. The single-storey strip mall has nearly 50,000 square feet of net lettable area and is located on a 99-year leasehold land sold by the state from March 1947, with a remaining lease balance of about 21 years and nine months. The property was valued at S$62 million as of December 31, 2023.

$Oiltek (HQU.SG)$: Oiltek International has announced that one of its subsidiaries has secured new contracts worth RM9.6 million (S$2.8 million) from Malaysia and South Korea. These new contract wins bring the total number of additional contracts obtained in FY2023 to RM322.1 million, representing a significant increase of 64.3% compared to the total value of contracts obtained in FY2022.