News

PPL Shipyard will sell a jack-up rig, already under construction, to the world’s largest drilling contractor leading provider of drilling management services worldwide.

Core central region led sooner-than-expected sales recovery, following a 27% fall after 15 September 09.

From November 2009 to October 2010, a total of 5.6 million passengers flew with the budget carrier, an increase of 39% over the 4.0 million passengers in the preceding 12 months.

Nine banks were admitted as SGX Bank Clearing Members for the clearing of OTC traded financial derivatives products, which started with clearing of interest rate swaps.

Property buyers ignore cooling measures and snap houses with 1,587 private transactions in October, up from just 911 in September.

The residential site at Serene House will be sold via public tender while offers for the commercial/Residential Development at 10 Serene Centre should be made via Expression of Interest.

On top of revitalizing the content of its website—now a business unit by itself— the airline is also set to grow its current fleet from 21 to 43 by March 2013.

Forms joint venture with Republic of Gabon to set up a port-based ammonia-urea fertilizer complex.

Revenue increased 5.2% to $823.4mln with increases coming from almost all business segments as overseas businesses accounted for 42.5% of total revenue.

The PM said it is more realistic to expect a 3-5% growth in the medium term for 2011 as Singapore is unlikely to achieve a repeat of the double-digit growth it is experiencing this year.

DBS Bank predicts a 5% growth for the economy this quarter but says Singapore is still poised to meet its full year GDP growth forecast of 15% due to activities in the services and construction sectors.

 The bank said the 18%QoQ saar (10.8% YoY) GDP dip for the quarter is an upward revision from the advance estimates (-19.8% QoQ saar, 10.3% YoY) given the better than expected industrial production growth in September.

The ratings agency said that rated non-financial corporates ave been building their positions for expansion, acquisitions and liquidity despite noises over global economic conditions.

The two exchanges will jointly launch metal contracts in aluminium, copper and zinc on SGX on 15 February 2011.

Gross loans in Singapore operations now constitute 19.3% of the bank's total loans globally, compared with 19% in September 2009.

The property development and investment firm's revenue rose 18.5% to S$82.6 million from S$69.7 million in the half year ended September 30, 2009. Net profit attributable to shareholders surged 162.6% to S$58.8 million in 1HFY2011 from S$22.4 million in 1HFY2010.