Financial Services
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FINANCIAL SERVICES |
22 Nov 12
208 reads
9 in 10 are involved in non-financial reporting tasks.
The Institute of Certified Public Accountants of Singapore (ICPAS) has released its survey findings involving 315 CFOs and CFO aspirants in Singapore. Read ››
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FINANCIAL SERVICES |
22 Nov 12
173 reads
Meet the new Maybank2E electronic channel.
In a release, ASEAN’s fourth largest banking group by assets, Maybank said it has launched its Regional Cash Management System (RCMS) to tap into Asia’s fast growing cash management market, which is projected to be worth over USD$162 billion by 2014, according to a McKinsey study on Global Wholesale banking revenue for Deposits and Cash Management. Read ››
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FINANCIAL SERVICES |
21 Nov 12
400 reads
Singapore only came in fifth globally.
A new report from the World Bank, the International Financial Corporation (IFC) and PwC, once again ranks Singapore as a front Released globally in Singapore for the first time in 185 economies and finds that the most common tax reform is the introduction or improvement of online systems for tax compliance, which occurred in 16 economies. Read ››
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FINANCIAL SERVICES |
21 Nov 12
159 reads
The local currency is suffering slow depreciation against the greenback. Read ››
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FINANCIAL SERVICES |
21 Nov 12
118 reads
CIMB Bank Singapore one of best-performing segments.
In a release, CIMB Group Holdings Berhad (CIMB Group) reported a net profit of RM1.143 billion was 3.0% higher than 2Q12, and 12.9% above its 3Q11 net profit of RM1.012 billion for 3Q12. Read ››
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FINANCIAL SERVICES, HR & EDUCATION |
20 Nov 12
424 reads
Check the graph and be amazed.
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FINANCIAL SERVICES |
20 Nov 12
273 reads
Say hello to ING Funds Thailand.
In a statement, United Overseas Bank announced that its wholly-owned subsidiary, UOB Asset Management, has entered into a Sale & Purchase Agreement with the ING Group for the acquisition of all the shares in ING Funds (Thailand) Company. Read ››
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FINANCIAL SERVICES |
20 Nov 12
101 reads
Thanks to better than expected US housing data.
OCBC Treasury Research said:
Major currencies rebounded on Monday on better than expected US housing data. Read ››
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FINANCIAL SERVICES |
20 Nov 12
212 reads
Purchase part of strategic regional expansion.
United Overseas Bank Limited (UOB) announced through a release that its wholly-owned subsidiary, UOB Asset Management Limited (UOBAM), has entered into a Sale & Purchase Agreement with the ING Group for the acquisition of all the shares in ING Funds (Thailand) Company Limited. Read ››
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FINANCIAL SERVICES |
19 Nov 12
125 reads
Analyst says the world economy is not healthy.
IG Markets Singapore said:
While talks are progressing to avert the fiscal cliff disaster it is still too early to see any pickup in Asian currencies. Read ››
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FINANCIAL SERVICES |
16 Nov 12
110 reads
Bearish sentiment grows among traders.
IG Markets Singapore said:
The local currency has been very slowly but surely losing ground against the US dollar and has broken through a ceiling this morning. Read ››
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FINANCIAL SERVICES |
15 Nov 12
146 reads
Demand for CFO over the last decade is on the rise but they aren't happy. Read ››
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FINANCIAL SERVICES |
15 Nov 12
61 reads
Target is to moderate to 3-4% by the end of 2015. Read ››
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FINANCIAL SERVICES |
15 Nov 12
79 reads
Analyst says uncertainty continues to hang over Asian currencies.
IG Markets Singapore said:
Uncertainty continues to hang over Asian currencies this morning, penning the Singapore dollar into a tight channel. Read ››
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FINANCIAL SERVICES |
14 Nov 12
217 reads
CIMB warns caution on 3 banks.
CIMB notes that all three banks beat expectations, but did not enjoy a clear re-rating post-3Q as the drivers of the beats were mostly market-driven gains that put in doubt the sustainability of their earnings. Read ››
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FINANCIAL SERVICES |
14 Nov 12
99 reads
Traders exercise caution over the US’ ability to avert the fiscal cliff. Read ››
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FINANCIAL SERVICES |
12 Nov 12
253 reads
All eyes on Malaysia and Indonesia now.
According to Nomura, 9M12 core net profit rose 28% y-y to SGD2.16bn, accounting for 85% of our FY12F estimate of SGD2.45bn and 82% of the Street’s full-year estimate of SGD2.58bn. Read ››
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FINANCIAL SERVICES |
12 Nov 12
86 reads
The local currency is forecast to remain in very tight trading. Read ››
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FINANCIAL SERVICES |
12 Nov 12
84 reads
This propelled nine-month profit to RM4.29b.
In its release announcing 3Q12 results, Maybank reported profit after tax and minority interest (PATAMI) of RM4.29 billion for the nine months ended 30 September 2012, up 18.2% from the RM3.63 billion recorded in the nine months to September 2011. Read ››
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FINANCIAL SERVICES |
09 Nov 12
246 reads
He is a Founding Partner of Mahanusa Capital, an investment company based in Jakarta. Read ››
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FINANCIAL SERVICES |
09 Nov 12
304 reads
It just shrugged off the slower loans.
According to DBS, insurance contribution rebounded thanks to improved non-par fund profits from better market conditions. Read ››
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FINANCIAL SERVICES |
09 Nov 12
89 reads
The issue of fiscal cliff is set to linger.
IG Markets Singapore said:
The Singapore dollar ends the week stuck in a rut against the greenback despite a monumental week for the US. Read ››
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FINANCIAL SERVICES |
09 Nov 12
138 reads
Thanks to higher net interest income.
Oversea-Chinese Banking Corporation Limited (OCBC Bank) also managed to improve its trading performance and raise its profit from life assurance. Read ››
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FINANCIAL SERVICES |
08 Nov 12
218 reads
It's about regional wholesale banking.
According to DBS, focus in 2013 is on building fee income capabilities and holding up balance sheet strength. Read ››
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FINANCIAL SERVICES |
08 Nov 12
78 reads
Pressures facing the BOK to further cut rates have been alleviated. Read ››
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FINANCIAL SERVICES |
08 Nov 12
247 reads
Dividend income reached S$89m.
According to OCBC, UOB posted 3Q12 net earnings of S$707m, up 36% YoY and flat QoQ. This is above market expectations of S$653m, or a variance of S$54m. Read ››
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FINANCIAL SERVICES |
08 Nov 12
111 reads
All major currencies weakened against the greenback.
IG Markets Singapore said:
Asian currencies faced a choppy night after Obama secured a historic second term in the White House. Read ››
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FINANCIAL SERVICES |
08 Nov 12
51 reads
A crash will deal quite a blow.
Fitch explained in a new report that while Australian banks' direct exposure to the mining sector is limited at less than 1% of total lending, "a significant slowdown in mining would still affect banks indirectly through its impact on the broader economy."
Read ››
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FINANCIAL SERVICES |
08 Nov 12
119 reads
NIM compression qoq was larger than expected.
Here's more from Maybank Kim Eng:
3Q12 results may have come in 7-8% above our forecast and consensus respectively, but this was mainly due to a one-off spike in associate dividends. Read ››
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FINANCIAL SERVICES |
07 Nov 12
177 reads
The acquisition has been completed.
Oversea-Chinese Banking Corporation Limited previously made an announcement in relation to the conditional sale and purchase agreement with PT Farnella Mandiri Utama to buy 80,000 ordinary shares in the capital of PT TransAsia Securities. Read ››
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FINANCIAL SERVICES |
07 Nov 12
391 reads
The card has touch-sensitive buttons!
Read ››
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FINANCIAL SERVICES |
07 Nov 12
125 reads
DBS is Nomura's top pick.
According to Nomura, Singapore banks still appear on track to deliver 6-8% FY12F earnings growth on undershooting credit costs and resilient fee income growth. Read ››
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FINANCIAL SERVICES |
07 Nov 12
160 reads
Growth was down to 9.7%.
According to Nomura, September loan growth was 9.7% y-y and 7.1% YTD (down from 15.6% yy in Aug but flattish m-m), with manufacturing moderating to 15.8% y-y (Aug: 31%) down 3.2% m-m, while general commerce moderated to 14.3% y-y (Aug: 25.4%) and 0.4% m-m, and financial services-related loans grew at 9% y-y (Aug: 10%), up 2.2% m-m. Read ››
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FINANCIAL SERVICES |
07 Nov 12
229 reads
He will take over immediately.
According to a release, Fabien Conderanne has been appointed CEO & Country Manager for Coface in Singapore with immediate effect. Read ››
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FINANCIAL SERVICES |
07 Nov 12
78 reads
Traders are not likely to take on new positions prior to results of the US polls. Read ››
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FINANCIAL SERVICES |
07 Nov 12
210 reads
Sold premiums reached a total of $1,608.1m.
According to the Life Insurance Association Singapore, the industry achieved a total of $1,608.1 million in weighted new business premiums for the first nine months of 2012, representing a 10 per cent improvement over the corresponding period in 2011. Read ››
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FINANCIAL SERVICES |
06 Nov 12
181 reads
It nudged income to S$1.5m.
According to DBS, results in line, supported by Earn Out. Read ››
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FINANCIAL SERVICES |
06 Nov 12
BY ZORAN VASILJEV
606 reads
Progressive Singapore companies take the term “customer centricity” from a beautiful slogan to the everyday way of doing business. Read ››
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FINANCIAL SERVICES |
06 Nov 12
297 reads
Don't neglect an analyst's warning.
Barclays analyst Sharnie Wong expects ongoing pressure on net interest income for the Singapore banks due to: 1) slowing loan volumes driven by weakening corporate loan demand; and 2) lower margins driven by fierce loan and deposit competition. Read ››
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FINANCIAL SERVICES |
06 Nov 12
121 reads
Traders were avoiding making any big bets ahead of the US polls. Read ››
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