Daily Brief Singapore: Golden Agri Resources, Halcyon Agri, Far East Hospitality Trust and more

In today’s briefing:

FTSE All-World/All-Cap Index Rebalance: Watch Golden Agri-Resources & Delhivery
Merger Arb Mondays (21 Nov) – Halcyon, Lifestyle, OZ Minerals, Perpetual/Pendal, Nearmap, Nitro
REIT Watch – Industrial S-Reits see resilience despite macro challenges

FTSE All-World/All-Cap Index Rebalance: Watch Golden Agri-Resources & Delhivery

For Asia Pacific, there are 2 adds to the FTSE All-World Index, 2 adds to the FTSE All-Cap Index and 2 deletions from the FTSE All-World Index.
All changes are on expected lines. The one surprise is the non-inclusion of Rainbow Children’s Hospital (RAINBOW IN) to the All-Cap Index where it likely just failed investable market cap.
Sungeel Hitech (365340 KS) is also an add to the KOSDAQ 150 Index at the close on 8 December, while there is a huge lock-up expiry for Delhivery (DELHIVER IN).

REIT Watch – Hospitality S-Reits ride on pent-up travel demand and the return of events in Q3 2022 All hospitality trusts with Singapore assets observed significant improvements in occupancy and RevPAR (revenue per available room) in the last quarter, driven by the return of large-scale events and the Mice (meetings, incentives, conventions and exhibitions) industry, alongside pent-up demand for overseas travels.
Far East Hospitality Trust recorded that its Q3 2022 gross revenue increased 2.0 per cent yoy, led by growth from the hotel segment which increased 4.7 per cent.
Income available for distribution grew 12.0 per cent yoy from higher NPI and interest income.

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