Keppel Telecommunications & Transportation

Keppel Corporation unit Keppel Telecommunications & Transportation and PCCW Global, the international operating arm of Hong Kong telecommunications service provider HKT, will build an international carrier exchange in Hong Kong.

The two firms offering connectivity-related services for telecommunication companies.

The exchange will be in the same building as the Hong Kong landing station for a new 25,000km-long cable linking Asia, Africa and Europe that is expected to be ready during the fourth quarter of this year.

Singapore Technologies Engineering

The aerospace arm of Singapore Technologies Engineering (ST Engineering) secured new contracts worth $443 million in the first quarter.

It said yesterday that it had taken on projects ranging from airframe maintenance and cabin interiors, engine washing and component repair and overhaul.

The contracts also included new orders from German Airbus supplier Elbe Flugzeugwerke. ST Engineering recently completed its additional 20 per cent equity interest in EFW and now owns 55 per cent of the firm.

The company said the total contract value also included VIP aircraft interiors contracts, as well as four pilot training contracts.

Sabana Reit

Sabana Shari'ah Compliant Industrial Reit's distributable income for the first quarter came to $9.8 million, giving a distribution per unit of 1.33 cents, down 25.3 per cent from last year.

Net property income declined 18.4 per cent, due mainly to lower gross revenue from negative rental revisions and non-renewal of one master lease .

The Reit manager also incurred higher operating expenses arising from converting three properties into multi-tenanted blocks, as well as higher property tax and land rent expenses for another three properties.

Gross revenue for the three months to March 31 was $23.6 million, down 6.9 per cent compared with last year.