Daily Briefing: Rig builders looking beyond backyard; Banks bid for HDB’s largest bond issue

And Keppel DC REIT surpasses IPO forecast.

This week, two of Singapore’s blue-chip companies could learn that it doesn’t pay to expand too far afield. Keppel Corp., the world’s largest builder of oil rigs, could post its lowest annual profit in seven years when it reports earnings Thursday, according to analyst estimates. Read more here.

Banks are bidding for the largest issue yet from Housing and Development Board (HDB), totalling up to S$1.6 billion, IFR reported Friday (15 January). According to the report by the Thomson Reuters publication, the HDB askedbanks for proposals to sell a seven-year bond for a target size of S$1 billion and a S$600 million greenshoe."If it does achieves the maximum deal size, it will beat its largest single issue, when it sold a S$1.5 billion 1.875 percent four-year issue in November 2013." Find out more here.

Keppel DC REITs distribution per unit of 6.84 cents for the financial period ended 31 December 2015 was within expectations and two percent above IPO forecast due to lower-than-expected borrowing costs, higher variable rent from Singapore and new contribution from Intellicentre 2, according to Credit Suisse. This comes after the REIT saw its net property income surpass its IPO forecast by 1.7 percent at S$91.3 million. Read more here.