U.S. equity futures declined in early trading, indicating the risk-off move that’s hit markets at the start of this month may have further to run. The dollar edged higher. S&P 500 futures opened about 1% lower after global stocks posted a more than 2% slide on Friday. The Australian dollar slipped along with the pound and euro, while Australian bonds nudged higher. Trading volumes may be light due to holidays in China and Japan, and Treasuries won’t trade until the London open. Oil began the week on the back foot.

OXLEY Holdings will see S$2.2 billion of revenue flow into the group from its Singapore and overseas projects as construction progresses, it said in an update. Oxley chief executive Ching Chiat Kwong said: "S$1.4 billion of secured revenue from our Singapore projects and S$819 million from overseas projects will flow into the group as construction progresses, based on our effective stake." He added that Oxley is on track to redeem its S$150 million worth of bonds due May 18, 2020.

Swiss pharmaceutical company Lonza Group, which has a secondary listing on SGX, has announced a ten-year deal with US-based Moderna to undertake large scale manufacturing of the latter’s mRNA-1273, which is a vaccine that is being tested for use against the novel coronavirus. Under the terms of the agreement, the two parties plan to establish manufacturing suites at Lonza’s facilities in the US and Switzerland for the manufacture of mRNA-1273.

EZRA Holdings' application for judicial management has been refixed to be heard on June 22, it said in a filing to the Singapore Exchange on Friday. The application - which was previously pushed from April 20 to May 18 - will now be heard at 10am on June 22.

LIPPO Malls Indonesia Retail Trust (LMIRT) posted a 78.2 per cent drop in Distribution Per Unit (DPU) to 0.12 cents for the first quarter ended March. The DPU represents 24.1 per cent of the amount available for distribution of S$14.6 million. The decision to withhold the remaining income is a “prudent contingency” against the impact of Covid-19, LMIRT said, given the loss of rental income with the closure of all its retail malls and spaces in Indonesia amid the pandemic.

CAPITALAND Mall Trust (CMT) has entered cash-conservation mode amid the volatility of Covid-19, leading to a 70.5 per cent fall in distribution per unit (DPU) to 0.85 cents for the first quarter ended March. Gross revenue for the quarter inched up 6 per cent to S$204.3 million, and net property income was up 5.9 per cent to S$148.3 million. The growth arose from the June 2019 opening of Funan Mall, which contributed S$15.8 million to total gross revenue. But this was offset by the amortisation of rental rebates granted to tenants affected by Covid-19.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR