Singapore stock preview: Sembcorp Marine, CapitaLand, UO

• SembCorp Marine Ltd share price closed 1% lower on Monday (4 July 2022)
• CapitaLand Investment Limited share price dropped by nearly 2% last week
• United Overseas Bank Ltd (UOB) shares spiked up by 2% during the session
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Sembcorp Marine (SGX: S51)

Sembcorp Marine Ltd has completed the handover for the second of three identical battery-operated roll-on/roll-off passenger (ropax) ferries to Norwegian ferry operator Norled AS.

Built based on the proprietary design of Sembcorp Marine's wholly-owned subsidiary, LMG Marin AS, the zero-emission vessel will be capable of operating at a service speed of 10 knots, powered by lithium-ion batteries which are charged using green hydro-electric power.

The ferry can also run on a combined battery-diesel hybrid backup mode when required. Optimised to meet Norled’s operational requirements, the ferry, named Dragsvik, is equipped with energy-efficient features including quick-connection shore charging plugs, auto-mooring and auto-cross capabilities, efficient hull, propulsion and heat recovery systems as well as minimised hotel and auxiliary load solutions.

The third ropax ferry is scheduled for completion at the end of 2022.

CapitaLand Investment (SGX: 9CI)

CapitaLand Investment Limited’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott), announced that it is acquiring Oakwood Worldwide (Oakwood), a premier global serviced apartment provider, from Mapletree Investments Pte Ltd.

The acquisition will increase Ascott’s global portfolio by 81 properties and about 15,000 units. Oakwood’s approximately 8,500 operational units are expected to immediately contribute to Ascott’s recurring fee income streams upon completion of the transaction slated in quarter three (Q3) 2022.

The move will also increase Ascott’s global presence to more than 150,000 units in about 900 properties across over 200 cities in 39 countries.

It will add new markets which include Cheongju in South Korea; Zhangjiakou and Qingdao in China; Dhaka in Bangladesh; as well as Washington D.C. in the US.

Oakwood was recently named the ‘Best Serviced Residence Brand’ in DestinAsian Readers’ Choice Awards 2022.

United Overseas Bank (SGX: U11)

United Overseas Bank (UOB) has confirmed the listing of S$400 million worth of 4.25% Perpetual Capital Securities, which was priced last Tuesday (28 June 2022).

The securities will be listed and quoted in the Bonds market under the International Securities Identification Number (ISIN) code of SGXF56824851 with effect from market open on 5 July 2022.

UOB said last week that the capital securities will be issued under its US$30 billion Global Medium Term Note Programme.

This latest instrument is subject to a reset on 4 October 2027 (and every five years thereafter) to a rate equal to the then-prevailing five-year Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS) plus the Initial Spread of 1.47%.

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