SG Morning Highlights | ST Engineering's Unit Secures Contract to Upgrade Frigates for Singapore Navy

Singapore shares opened higher on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.08 per cent to 3,125.40 as at 9.05 am.

$ST Engineering (S63.SG)$: ST Engineering, through its subsidiary ST Engineering Marine, has won a contract from Singapore's Ministry of Defence to upgrade the navy's formidable-class frigates. The value of the contract was not disclosed by the mainboard-listed company in its statement on Thursday (Dec 14). The technology and engineering group will undertake the design and engineering of the frigate's marine and electrical systems' upgrades, including the ship management system and power generation system.

$Dasin Retail Tr (CEDU.SG)$: Dasin Retail Trust Management, the trustee-manager of Dasin Retail Trust, will hold an extraordinary general meeting (EGM) by Jan 22, 2024 in relation to a requisition notice served by a group of 15 investors. The requisition notice has to do with the investors' plan to replace the current trustee-manager with a newly incorporated internal one. The new entity will be wholly owned by all unitholders of Dasin Retail Trust. On behalf of this group, unitholder Tao Naiqun had said in the letter issued in November that the minority investors were seeking to convene an EGM to approve the internalisation "as a matter of urgency".