Singapore

A potential taxi rental rebate might only shave off about 0.9-3.9% of its 2020 profits.

IPs and IP rider premiums comprised $419.7m of the amount.

Expertise in digitalisation transformation remains highly sought after.

Total sum assured for new businesses grew 7% YoY to $149.5b.

More older flats were sold over the past few months and the prices of older flats have also increased.

But high FY2019 momentum should present higher dividends. The banking sector sees a moderate Q4 2019 with slow loan growth and weak net interest margins (NIMs) as dwindling interest rates reflect on asset yields, said a Maybank Kim Eng report.

The redemption price was set at $250,000 for every $250,000 in nominal amount.

Asian FX futures recorded a total of $1.8t for the year.

Some of its key finance personnel were stuck in Wuhan.

Changi airport traffic could plunge, which affects most of the firms’ operations.

Five-room prices inched up by 1.2% and executive rooms rose by 0.9% YoY.

The trade relates to a $3.5m letter of credit transaction between Audi Singapore and Premium Automobiles. DBS Bank has successfully completed the first trade financing transaction on Singapore’s Networked Trade Platform (NTP) in collaboration with Audi Singapore (Audi) and Audi’s local distributor, Premium Automobiles (Premium). The inaugural trade relates to a $3.5m letter of credit transaction for a trade of Audi cars between Audi and Premium. By digitalising the process through the NTP, Audi and its retail partner Premium now have the capability to submit bank applications, as well as send and receive trade documents online. This enables DBS to receive and start processing the e-applications in real-time, cutting short the trade financing processing time from about a week to under one working day, yielding greater operational efficiencies for both buyer and seller. In addition, as trade documents are uploaded onto the NTP, all trade participants are able to enjoy real-time updates on the progress of their transaction, enabling them to better plan their working capital needs. The first transaction marks a critical step towards transforming documentary trade, of which domestic letters of credit constitute around US$150b of Singapore’s trade flows. DBS, Audi and Premium are currently working on the second trade on the NTP valued at $2.8m. DBS is also one of the key banks leading the Trade Finance Compliance (TFC) initiative, which is a digital service on the NTP to boost trade security in Singapore. Launched in September 2019, the TFC service aims to tackle trade finance compliance challenges by addressing obstacles faced by financial institutions when financing trade in Asia, such as trade fraud risks and the lack of reliable data to conduct price checks for non-commoditised goods – which often do not have established pricing benchmarks.

The IPO is expected to raise about $140.38m.

The travel agency firm plans to consolidate 50 existing ordinary shares into one.

And a pair of freehold Serangoon Road two-storey shophouses have been put up for sale.

CapitaLand led the gains amongst top active stocks with a 2.75% leap.