Rental reversions for retail REITS have remained resilient, but they are likely to moderate in the near term amid pressure by continued headwinds, say analysts.
The new facility is expected to reinforce Singapore's position as a hub for synthetic rubber production in Asia. It has an annual production capacity of 140,000 metric tonnes and this is expected to be ramped up gradually.
The new and larger premise boasts 160 co-working and permanent desks, eight team rooms and flexible event spaces that can hold up to 200 people.
A total of 66 Singapore firms have signed the agreement, a voluntary initiative by companies to adopt sustainable and responsible business practices.
Net profit came in at S$125 million for the three months ended in June, compared to S$133.2 million in the same period a year ago.
The Human Capital Movement, an initiative launched by SPRING Singapore, includes having volunteer directors to share HR best practices with the smaller companies in Singapore.
The deal will allow its subsidiary GNum to expand its expertise to help businesses identify consumer trends and widen marketing reach.
The new Workforce Advancement Federation aims to focus on capability development and labour productivity initiatives to boost companies' competitiveness.
However, IATA says Singapore will continue to thrive as an aviation hub, with increased capacity from upcoming terminals at Changi Airport.
The new facility will boost Total's lubricant supply in the Asia-Pacific region, which already represents more than 25 per cent of its lubricant sales, the company says.