Daily Briefing: MAS chief says 'dire' consequences loom if trade war escalates; Seletar Airport's new $80m terminal to operate by late 2018

And here’s why CCT's distribution per unit fell 11.7%.

From Bloomberg:

Singapore could get hurt from the US-China trade war that could threaten global growth of manufacturing, trade, and investment.

"The world has clearly moved from trade tension to trade conflict,” Ravi Menon, managing director of the Monetary Authority of Singapore, told reporters on Wednesday at the release of the bank’s annual report. “If this escalates into a trade war, all three engines of global growth -- manufacturing, trade, and investment -- will stall.”

With the US threatening to slap higher tariffs on goods from China, Canada, the European Union and others, concerns are mounting that the trade conflict will spread, undermining global growth and hurting export-reliant nations like Singapore. That’s on top of risks from higher oil prices, rising global interest rates and a stronger dollar".

Read more here.

From Yahoo! News Singapore:

The 10,000 sqm new terminal for Seletar Airport is set to start its operation by late 2018 to anticipate the growth in passenger traffic.

"Having received its Temporary Occupation Permit, Seletar Airport’s $80m new passenger terminal is on track to be opened by the end of this year.

Measuring 10,000 square metres, the two-storey terminal is six times larger than the current one and will be able to handle 700,000 passenger movements a year, according to a media release from Changi Airport Group (CAG), which manages the terminal.

The move to open the new terminal comes in anticipation of a growth in passenger traffic, said CAG."

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From The Motley Fool:

The distribution per unit of CCT's REIT fell 11.7% YoY due to the increase in issued units.

"CapitaLand Commercial Trust (SGX: C61U), or CCT, is one of the largest commercial REITs in Singapore by market capitalisation. The REIT is sponsored by CapitaLand Limited (SGX: C31).

The REIT’s latest earnings update, released in April, was for the first quarter ended 31 March 2018. During the quarter, CCT delivered a 7.7% year-on-year increase in revenue to $96.4 million, and this led to a 10.5% climb in net property income (NPI) to $77.2 million. The REIT’s distribution per unit (DPU) for the quarter, however, declined by 11.7% year-on-year to 2.12 cents. This was mainly due to an increase in the number of units issued."

Read more here.