: Citi Investment Research has downgraded DBS from 'buy' to 'neutral' and lowered its target price from S$31.10 to S$27 due to its exposure to China amid uncertainties over a US-China trade deal. This after the United States increased tariffs on US$200 billion of Chinese imports from 10 to 25 per cent on Friday. The research unit said DBS is the most exposed of its peers to the China market, and may be impacted by market risks and potential interest cuts.
Keppel FELS, a subsidiary of Keppel Offshore & Marine , will provide detailed engineering, procurement, construction, testing and commissioning for the substations, while certain electrical components will be furnished by Orsted. Keppel is scheduled to complete its share of the work for the two 600 megawatt substations in Q3 2021. They will be deployed in Orsted's Greater Changhua offshore wind sites in Taiwan, which have a total potential capacity of 2.4 gigawatts .