Private Home Prices Crawl While HDB Resale Flat Prices Rise In 1H08
Private home prices inched up 0.4% in 2Q, according to flash estimates from the Urban Redevelopment Authority. This is the smallest rise in 4 years. Prices of non-landed private properties in Core Central Region and Rest of Central Region increased only 0.2% and 0.7% respectively. Whereas prices of non-landed private properties in Outside Central Region rose 1.3%. Prices of HDB resale flats rose 4.4% in 2Q, slightly higher than the 3.7% increase in 1Q, according to the Housing and Development Board’s flash estimate.

Olam Joint Venture With Wilmar.
Olam Int’l and Wilmar Int’l announced the formation of a 50:50 joint venture company, Olam Wilmar Investment Holdings to acquire a 20%-stake in PureCircle, the leading producer of natural zero-calorie, high-intensity sweeteners from the stevia plant for an aggregate consideration of US$106.2m.

Keppel Corp’s Shares Fall
Keppel Corp’s shares fell due to its subsidiary, Keppel Verolme’s client, MPU Offshore Lift ASA (MPU) decision to submit a petition for bankruptcy in Norway. Keppel Verolme has ceased work on the MPU Heavy Lifter project with immediate effect. Company has received payments from MPU to meet all costs it has incurred and is taking all the necessary actions to preserve its contractual rights.

Sembcorp Marine Secures US$400m
Sembcorp Marine’s subsidiary, SMOE has secured a contract worth some US$400m from Maersk Olie og Gas AS for the construction of a HBD Platform to be installed in the Danish sector of the North Sea.

Keppel Corp Joint Venture With Tianjin Eco-City Investment and Development Co
Keppel Corp’s subsidiary, Singapore Tianjin Eco-City Investment Holdings has entered into a joint venture agreement with Tianjin Eco-City Investment and Development Co to incorporate a company in the PRC known as “Sino-Singapore Tianjin Eco-City Investment and Development Co” to develop the Eco-City Project.