FINANCIAL SERVICES | Staff Reporter, Singapore

Daily Briefing: Kwek family net worth surges by $227m amidst strong intraday gains; Here are the top programming languages loved by banks

And Parkway Life REIT's DPU has more than doubled in the past decade.

From Bloomberg:

With stock in Singapore’s second-largest developer jumping as much as 6.1% Monday, the Kwek family’s net worth shot up by $227m (US$166m), according to Bloomberg calculations. City Developments’ CEO Sherman Kwek and his family hold at least 49% of the real estate firm through direct and deemed interests.

Not bad for a day’s work, particularly considering the share-price rise is the biggest intraday gain in more than two years.

While a $166 million bump may be a drop in the bucket for billionaire Kwek, it’d still buy him around eight penthouse apartments at one of City Developments’ latest luxury projects, Boulevard 88, located just off Singapore’s prime Orchard Road shopping district.

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From eFinancialCareers:

Java is the most popular programming language listed in current jobs at the eight global banks which are growing their technology teams. Demand for Java developers has increased over the past few months as Citi (which has 29% of Java-related roles across the eight firms), UBS and Standard Chartered have announced they are building new Singapore-based FX pricing engines.

Python came in second place (the language appears in 28% of the vacancies we examined) and is used primarily for pricing, risk management and trade management platforms. 

C++, in third place, is the other major language in our chart – it’s needed or desirable in 13% of Singapore-based roles that require programming expertise especially since banks prefer C# and Java for their main trading platforms and Java is the dominant language taught in computer science degrees, 

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From The Motley Fool:

Parkway Life has grown its DPU from 6.32 cents in 2007 to 12.87 cents in 2018. In other words, its DPU more than doubled in the last decade. Moreover, the DPU has grown every year during that period (excluding the special distributions in 2015 and 2017).

Since its IPO in 2007 to 2018, Parkway Life has grown its portfolio value by 140.2%. Similarly, gross revenue and distribution income grew by 109% and 189%, respectively, over that period. Such strong growth in underlying performance has been one of the main reasons that Parkway Life was able to consistently grow its DPU over the years.

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