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Daily Markets Briefing: STI down 0.3% |
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72 reads
Index likely to slide further, says analyst. OCBC Investment Research said: The still muted reactions on Wall Street overnight are unlikely to provide any strong cues to the local bourse this morning. Read ›› |
Daily Briefing: Hollywood stars shocked by Singapore car prices; Shane Todd's family walks out |
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1098 reads
And football pros lose match to kids. Read ›› |
Keppel Land commercial arm to benefit most from China Vanke JV |
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128 reads
And offset variablity in residential income. Maybank Kim Eng said that Keppel Land will have more exposure to investment-grade commercial properties through the recent China Vanke partnership, which will ultimately grow its portfolio of high-quality commercial assets and help smoothen the income variability expected from the company's residential segment. Read ›› |
Reciprocity issue mars DBS greenlight to purchase Bank Danamon stake |
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81 reads
Making it harder to gain controlling interest. According to Maybank Kim Eng, while the recent green light given to DBS to acquire a 40% stake in Bank Danamon is a longterm positive, the full beneficial impact of the deal is being muddled by roadblocks to possibly gaining controlling interest in the Indonesian bank due to reciprocity issues that are being imposed on Singapore. Read ›› |
4 in 10 Singaporeans distrust online product reviews |
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184 reads
Hong Kongers believe online reviews more. According to a release, Reader’s Digest’s annual consumer survey across Asia revealed that 4 in 10 Singapore consumers are very or somewhat unlikely to trust comments regarding brands or products that they see on social media platforms. Read ›› |
4 threats Keppel must watch out for after REIT sell off |
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456 reads
It sold down its stake to 51.5%. According to Barclays, Keppel Corp announced today it had sold down its stake in KREIT to 51.5% from 58.2% previously, through the placement of 180mn units in KREIT. Read ›› |
ComfortDelGro to milk $2-2.5m profit from Aussie acquisition |
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451 reads
And this is likely to grow bigger. According to Nomura, following the acquisition of selected FirstGroup’s assets in London, ComfortDelgro has swiftly launched another acquisition, this time in Melbourne, Australia. The group will acquire 100% of the issued shares of Driver Group Pty Ltd for A$22mn (S$27mn). Read ›› |
What you must know about Sembcorp Marine's latest acquisition move |
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355 reads
It's acquiring membership interests in Equinox. According to DBS Vickers, Sembcorp Marine (SMM) announced that its subsidiary Sembawang Shipyard Pte Ltd has exercised its voting rights to acquire all the membership interests in Equinox Offshore Brazil Cooperative U.A (EOB) and shares in Equinox Offshore ARV3 BV (EO ARV3) as EO ARV3 remained in default of its payment obligations for the conversion of the accommodation and repair vessel ARV3 due to financing difficulties. Read ›› |
These are the 2 biggest problems Singapore is facing right now |
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1031 reads
Are they getting worse? According to CIMB, Singapore’s domestic headwinds seem to be abating. Read ›› |
Sembcorp unveiled US$1b water, power plant in Oman |
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120 reads
It has capacity of 490MW. According to a release, Sembcorp Industries (Sembcorp) celebrated the official opening of its US$1 billion Salalah Independent Water and Power Plant (Salalah IWPP) in Oman last 19 May. Read ›› |
You won't believe how using licensed software can boost Singapore economy |
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132 reads
We are talking US$240m here. According to a new study from BSA and INSEAD, increasing the use of properly licensed software would have a greater impact on the economy in Singapore than allowing similar growth in the use of pirated software. Read ›› |
Changi Airport eyes 7% more cargo volume for tuna, vaccines in 2013 |
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111 reads
To compensate for sluggish trade. According to a report by Bloomberg, Changi Airport, Southeast Asia’s largest freight airfield, plans to attract more gold bars, tuna and vaccines to Singapore as it seeks to increase handling of high-value cargo to make up for slowing trade. Read ›› |
Here's a smart move Singapore Airlines did for earnings recovery |
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352 reads
Will it be for long-term? According to DBS, with yield and demand expected to stay fairly stable, it believes the biggest swing factor for SIA’s earnings would be jet fuel price, which has largely traded between US$120 per barrel and US$140 per barrel in the last two years. Read ›› |
M1 lags SingTel, StarHub in adoption rate of postpaid users |
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157 reads
20% rate isn't good enough. According to CIMB, they expect the strong take-up of tiered data plans to benefit the Singapore telcos. Read ›› |
Keppel sells off 180m units of its REIT |
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196 reads
Units are worth $1.55 each. According to OCBC, Keppel Corporation (KEP) announced that its wholly owned subsidiary, Keppel Real Estate Investment Pte Ltd, has entered into a sale and purchase agreement with Goldman Sachs (the placement agent) for the sale of 180m units of Keppel REIT (6.7% of total issued units of KREIT) for S$1.555/unit. The aggregate cash consideration of S$279.9m took into account KREIT’s last transacted price of S$1.605/unit as at 20 May 2013 and the 30-day VWAP of S$1.5129. Read ›› |
ComfortDelGro shocks everyone with acquisition plans of private bus firm |
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292 reads
Bus fleet to increase to 420. According to OCBC, ComfortDelGro announced yesterday that it will acquire a privately-held bus company, Driver Group Pty Ltd, for A$22m. Read ›› |
Chart of the Day: Check out the biggest losers in Singapore stock market |
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218 reads
Gaming sector gravely disappoints. According to CIMB, while the Singapore market scales new highs, like stockmarkets around the world, it is the yield stocks and the stocks with earnings predictability that have outperformed. Read ›› |
Daily Briefing: SMRT to probe NSEW rail network; Is chivalry dead in Singapore? |
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133 reads
And government halts sale of Taiwan tapioca pearls. Read ›› |
Daily Markets Briefing: STI up 0.1% |
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62 reads
Index likely to consolidate around current levels. According to OCBC Investment Research: The muted reactions on Wall Street overnight could keep local sentiment cautious this morning. Read ›› |
See what's souring Singapore telco outlooks |
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154 reads
SingTel and StarHub still in doldrums. According to a sector analysis from OCBC Investment Research, SingTel and StarHub are facing relatively more muted outlooks due to paltry revenue and earnings growth forecasts that hover in the single- to low single-digits. Read ›› |
SGX mulling sale of Philippine Dealing System stake to PSE |
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75 reads
MOA signed but no final deal. Singapore Exchange (SGX) said The Philippine Stock Exchange, Inc (PSE) wishes to enter discussions with SGX on the sale of its 20% stake in Philippine Dealing System Holdings Corp (PDS). Read ›› |
Why SIA joint venture with Rolls Royce has fantastic potential |
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208 reads
Maybank has bullish outlook on JV. According Maybank Kim Eng, the prospects for the Rolls Royce JV are high given that it is backed by the 2,400 Trent engines on Rolls Royce’s order book, and that future workload has potential to expand in the future should Scoot decide to use Trent engines as well for its fresh fleet of B787s. Read ›› |
Singapore exports to Europe dropped by 13.4% |
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134 reads
No thanks to lower pharmaceuticals shipments. According to Maybank Kim Eng, EU, South Korea and Malaysia were the major disappointments. Goods headed for the EU registered its fifth straight declines as it fell by -13.4% YoY (Mar 2013: -16.2% YoY) mainly on lower shipments of pharmaceuticals, IC’s and parts of PC’s. Read ›› |
Corals at Keppel Bay sold 70 units ahead of launch |
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432 reads
Units are at most $2,100 psf. CIMB visited Corals at Keppel Bay (99-year leasehold), a new prime residential launch by KepLand/KepCorp previewed over the weekend. Read ›› |
Tiger Airways clawed $77m from latest fund-raising move |
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142 reads
What will Tiger use it for? According to DBS Vickers, Tiger Airways will be raising up to S$297m worth of funds through a combination of a rights issue (which has raised S$77m) plus a S$220m perpetual convertible securities issue underwritten by major shareholder SIA. Read ›› |
Singapore's wholesale domestic trade slipped 7.3% in 1Q |
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135 reads
Blame it on weak petroleum sales. According to the Department of Statistics, compared to the same period a year ago, domestic wholesale trade decreased 7.3% in first quarter 2013, partly attributed to a decline in domestic sales of petroleum & petroleum products. Read ›› |
Singapore Airlines must brace itself for sluggish passenger demand growth |
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156 reads
It's predicted to drop to just 4%. According to DBS Vickers, passenger demand for SIA has taken over four years to recover to the levels seen in late 2008, with a firm 6.8% y-o-y increase in RPK in FY13. However, with a higher base and continued softness in Europe and the US, DBS Vickers projects RPK growth to slow down to 4.9% in FY14 and 4% in FY15 respectively. Here's more from DBS Vickers: Read ›› |
4 big-time benefits of flexible working hours in Singapore |
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163 reads
Will part-time schemes lure job-seekers? In a release, the Employer Alliance (EA) said hundreds of thousands of Singaporeans could re-enter the workforce and ease the nation's manpower shortage if more companies adopted flexible work arrangements. Read ›› |
City Development's hotels hit by 35% profit crash |
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187 reads
Find out what hurt it badly. According to CIMB, most hotel players reported yoy declines in RevPAR, with CityDev the worst hit with a 35% yoy decline in hotel PBIT. Read ›› |
Property developers are on an M&A high: CIMB |
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206 reads
It's becoming a ''structural theme''. According to CIMB, M&A activities are on the rise and are becoming a structural theme for the property sector. Read ›› |
Why analysts have high hopes for Singapore NODX growth |
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84 reads
Despite 9.7% drop in 4M13. According to Maybank Kim Eng, data for the forward looking sub-segment of New Exports Orders in Apr 2013 came in at 50.6 (Mar 2013: 51.1) while the readings for New Exports Order for Electronics improved further to 53.1 (Mar 2013: 52.5). Read ›› |
KepLand worries over 200 unsold units at Reflections |
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2296 reads
They're facing 'great difficulty' selling them. According to CIMB, around 200 units of Keppel Land's Reflections remain unsold. Read ›› |
Singapore Airlines, SilkAir seal codeshare deal with Shenzhen Airlines |
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114 reads
This boosted Singapore-Shenzhen daily flights. According to a release, Singapore Airlines and SilkAir customers travelling between Singapore and Shenzhen now have a choice of two daily flights, as a result of a new codeshare agreement with Shenzhen Airlines. Under the agreement, SIA will add its ‘SQ’ code and subsidiary SilkAir will add its ‘MI’ code to Shenzhen Airlines-operated flights between Singapore and Shenzhen. Read ›› |
Here's what to blame for Tiger's $15.4m profit loss |
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237 reads
Losses could still extend to FY14. According to OCBC Investment Research, Tiger Airways reported a decent set of 4Q13 results with revenue increasing 49.4%YoY to S$240.6m - partly due to the lower base from TGR AU last year - and core operating profit was positive for the second straight quarter at S$12.7m (4Q12: -US$17.2m). Read ›› |
What you must know about Ascott's first serviced residence in Saudi Arabia |
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137 reads
The 230-unit project will open in 2015. According to a release, Ascott Limited has entered Saudi Arabia by securing a management contract for its first premier serviced residence in Riyadh. Read ›› |
How stiffer car buying rules will affect Singapore's inflation |
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183 reads
Now that COE premiums sharply dropped. According to DBS, tighter financial terms on car purchases introduced by the MAS earlier have hit car demand, resulting in the sharp declines in the COE premiums. This is expected to have a strong knock-on effect on the headline inflation figure, which has since moderated significantly from the pre-tightening high of 4.9% in February. Read ›› |
Why Singapore's April inflation is likely to shrink to 3% |
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80 reads
What could the reason be? According to DBS, it’s going to be a busy week with the final 1Q13 GDP growth figures, Apr13 industrial production and CPI inflation, all due to be announced on Thursday. Read ›› |
Chart of the Day: Electronics segment fails Singapore's NODX hopes again |
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46 reads
Shipments dropped by 9%. According to Maybank Kim Eng, electronics is still the main drag on growth. Read ›› |
Daily Markets Briefing: STI down 0.1% |
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63 reads
Analyst predicts index to open stronger. OCBC Investment Research said: The rally by the US market to another new high last Friday night is likely to inspire the local bourse to a positive start this morning. Read ›› |
Daily Briefing: What Singaporeans think about Singa the Lion's resignation; Check out fancy HDB names |
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148 reads
And video of man hitting office worker stirred net buzz. Read ›› |
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