Electric vehicle may be a common thing on Singapore roads soon

Electric vehicle may be a common thing on Singapore roads soon

By: 
Samanatha Chiew
29/05/17, 01:37 pm

SINGAPORE (May 29): Singapore is one of the first few Asean countries to test-bed electric vehicles (EV), but its deployment has been rather slow, say RHB lead analyst Shekhar Jaiswal in a Monday report.

A taskforce was established in 2009 to formulate an EV test-bedding programme. Two years later, Phase 1 of this test-bed was launched, involving global companies such as Mitsubishi Motors, Robert Bosch in collaboration with SingTel and Greenlots, Daimler AG, Renault-Nissan, Keppel Energy and Senoko Energy.

Currently, Singapore is undergoing Phase 2 of its EV trials, involving car-sharing, taxis and buses instead of private cars. The drawbacks of large-scale EV ownership among private car owners remain to be higher upfront costs and lack of infrastructure. There were only 33 EVs in Singapore as of end 2016.

The Singapore Government believes that EVs could be most beneficial towards vehicle fleets due to greater economic viability. The Land Transport Authority (LTA) published a paper in 2016 that studied a road map for the formulation of policies and infrastructure plans to successfully enable electro mobility in Singapore.

In the best case scenario, 50% of private vehicles, 60% of taxis, 100% of public buses, 50% of private buses, 50% of freight vehicles, 70% of motorcycles and 100% of car-sharing would be EVs in Singapore by 2050.

Although there are currently no listed companies in Singapore that can benefit from the ongoing EV testing, RHB believes that Avi-Tech could benefit from the growth in the global EV market. 50% of the group’s revenue comes from the automotive sector, offering burn-in solutions for semiconductor components used in automobiles.

(See also: Avi-Tech could hitch a ride on automotive boom)

Lendlease a step closer to listing of mall REIT on SGX: reports

SINGAPORE (May 23): Australia’s Lendlease could potentially be the next REIT to list in Singapore, following the footsteps of two recent US REITs. According to The Australian, Lendlease has appointed investment banks Citigroup and DBS to handle the listing. The Singapore trust, to be named Lendlease Global Commercial REIT, could be seeded with shopping centre assets worth A$1 billion ($948 million). Listed on the Australia stock exchange (ASX), Lendlease is a integrated construction, engineering and property company. Singaporeans may also be familiar with Lendlease given the comp....
Read More >>

China defence minister to attend summit amid rising US tension

(May 22): Chinese Defence Minister Wei Fenghe will address top diplomats at an upcoming summit in Singapore in a speech that could be pivotal amid rising tensions between the US and China. The International Institute for Strategic Studies (IISS) announced the late addition Monday to a roster of ranking officials that includes US Acting Secretary of Defence Patrick Shanahan attending the three-day IISS Shangri-La Dialogue from May 31. Wei is scheduled to deliver a speech on China’s place in the Indo-Pacific region on the final day of the conference and will take questions afterwards, wh....
Read More >>

SingHaiyi reports 48% rise in 4Q earnings to $9.7 mil on higher margins from US development

SINGAPORE (May 22): Property developer SingHaiyi Group reported a 47.6% rise in 4Q19 earnings to $9.7 million from a year ago, bringing FY19 earnings to $22.6 million, 20.3% lower than a year ago. 4Q19 revenue declined 67.6% to $9.8 million from a year ago mainly due to the decrease in revenue recognised for the group’s completed Executive Condominium project, The Vales, and the group’s completed private condominium, City Suites. The lower topline was partially offset by the sales of the group’s completed commercial condominium project in the United States – Vietnam Town Phase II....
Read More >>