Company Briefs: Straits Times Index

Straits Times Index

Jardine Matheson Holdings is making a comeback to the Straits Times Index (STI), following a quarterly review of the index.

It will replace Sembcorp Marine as a constituent member in the 30-share blue-chip benchmark.

Jardine Matheson was dropped from the STI, together with sister company Jardine Strategic Holdings, and Olam International a year ago.

The STI reserve list, comprising the five highest-ranking non-index constituents by market capitalisation, are Mapletree Commercial Trust, Suntec Reit, Keppel Reit, Mapletree Industrial Trust and Singapore Post. Companies on the reserve list will replace any STI constituents that become ineligible as a result of corporate actions before the next review, said STI compiler FTSE Russell.

The next review will take place on Dec 1.


LHN

Real estate management services group LHN yesterday completed its acquisition of a carpark at Golden Mile Tower for $26 million through its 50-per-cent-owned joint venture company Metropolitan Parking. This will add 540 carpark spaces to its portfolio.

This financial year, the group has added seven more carpark locations, comprising a total of 1,464 spaces. These locations include a shopping mall and three URA public carparks, as well as private industrial and commercial buildings in the central part of Singapore.

With these new contracts, the number of carparks managed by LHN increases from 30 to 37, with total carpark spaces surpassing 6,800.


Otto Marine

Otto Marine's subsidiary PT Batamec has secured shipbuilding contracts worth some US$8 million (S$10.9 million) to build two harbour tugs for an Indonesian stated-owned company.

The vessels, which will be operated in the waters of Indonesia, are expected to be delivered in the fourth quarter of next year.

The contracts are expected to have a positive contribution to earnings for this and next financial year.

A version of this article appeared in the print edition of The Straits Times on September 02, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe