SG Morning Highlights | S-Reits Rebound 7.4% in November, Best Month in 3 Years

Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.25 per cent to 3,098.13 as at 9.09 am.

$OCBC Bank (O39.SG)$: OCBC has lodged a claim in Singapore's High Court, seeking a minimum of S$19.7 million from Su Baolin, who is accused of money laundering, as well as possession of his mortgaged villa in Sentosa Cove. The bank filed a mortgagee's claim against the Cambodian national on October 25th, according to court documents reviewed by The Business Times (BT). The hearing for this claim is scheduled to take place in chambers on December 1st. Su, one of ten individuals implicated in a S$2.8 billion money laundering case, is accused of forging bank documents with the intent to defraud Citibank and Standard Chartered and currently faces two charges.

$Uni-Asia Grp (CHJ.SG)$: A consortium group led by Uni-Asia Group's wholly-owned subsidiary Uni-Asia Capital (Japan) has won a tender to develop and operate a private finance initiative project in Japan with its bid of 13.1 billion yen (S$118 million). The public work facilities development project, called for by the government of Kuki City, Saitama Prefecture, involves building a public use facility which uses residual heat from an existing waste treatment plant in the city, the group said in a Friday (Dec 1) bourse filing. The facility will include a fitness centre, public park, pool and bathhouse. Development is expected to take place in 2027. Following its completion, the consortium will operate the facility for 20 years.