News

The economy might have grown 15.5% yoy for the first three quarters of this year, but Q3 also marked the first qoq saar contraction since Q4 2009 at -19.8% qoq saar.

In a statement, CAG said that QF 32, an A380 aircraft from the Australian carrier, turned back to Changi for technical reasons.

The EPCM company’s income exceeded last year’s figure of S$404.9m by 35% and turned in profit after tax of S$37.8 million, up 35% from S$28.1 million a year ago.

Interest in ADRs of companies with primary share listings in Hong Kong, accounted for a significant portion of the activity as the cost advantage, convenience and longer trading hours of SGX-quoted ADRs drew investors.

Properties in Wuhan, Tianjin and Xi’an are part of the developer’s target to achieve 12,000 apartment units in China by 2015.

With a rate of US$13.38 per sq. ft. per year for industrial space, the country joins Hong Kong and Tokyo as the three Asian cities with highest leases for 1H10.

Collective sale transactions in Singapore (y-t-d) amount to S$975.64 million, with over 90% of this total resulting from sale of properties in areas such as Balestier and Serangoon.

Passengers who depart from the airport to take their connecting flights will have to pay a Passenger Service Charge (PSC) or Passenger Security Service Charge (PSSC) of S$9.00 and S$3.00, respectively, starting April 2011.

The carrier’s revenues for 2Q11 might have risen by 35% yoy, but the bank says the figure could have been higher.

Experts urge Singapore to keep open to nuclear energy as policy uncertainties worldwide cast doubt on the pace of energy investments.

That headline manufacturing PMI for October rose to the “expansion” level of 50.7 and electronics PMI rose by 0.8 pts to 49.3 might be news to celebrate about, but we should not get too excited about the numbers.

The budget airline’s revenue for the quarter is a $16.4 million improvement over the $2.3 million loss recorded a year ago. The improvement in Tiger's books can be attributed to higher turnovers, strong passenger growth and strict control of unit costs. Growth in passenger volume outstripped seat capacity growth of 21.9%, while the  total Cost per Available Seat Kilometre (CASK) went down 3.1% compared to the previous year. Tony Davis, President and Group CEO, said: “We are pleased with the second quarter results posted by the Group. Achieving a 10% net profit margin, 35% revenue growth and lower unit costs, on significant capacity growth of 22% is a solid result. “Forward bookings remain strong, particularly for the peak travel period between December and February. To capitalise on this peak period, Tiger Airways Australia is increasing its fleet to 12 aircraft by the financial year-end. “The airlines continue to focus on maximising profitability through the generation of additional ancillary revenue streams. In percentage terms, Tiger Airways is currently the fifth highest generator of ancillary revenue globally, and our aim is to be in the world’s top three airlines. During the quarter, we introduced two new ancillary products – boardmefirstTM, our priority boarding service, and our new flexible ticket option. Both products have been popular with our passengers. In addition, we have recently introduced Stripes, a membership programme that provides members priority access to promotions and the lowest fares. “We continue to work with Thai Airways on the establishment of our low cost business in Thailand, to be called Thai Tiger. “Finally, we are pleased to have recently won two awards; the Low Cost Airline of the Year award from the Centre for Asia Pacific Aviation, and the Most Transparent Award in the New Issues Category from the Securities Investors Association of Singapore” said Tony Davis.

Apart from receiving the award from Asia Risk magazine, the exchange also announced that its October SDAV reached $2.1 billion, the highest since May 2009.

 Fitch Ratings has assigned a final rating of 'A' to the bank's dollar Non-Cumulative Non-Convertible Non-Voting Preference Shares Callable in 2020. This follows the completion of the issuance of the Preference Shares and the receipt of documents conforming to information previously received. The final rating is the same as the expected rating assigned on 14 October 2010.

While Singapore employees can expect a salary increase by 4% next year, a predicted 2.4% inflation rate will pull down the actual wage increase to just 1.6%.

New index enables investors to view the expected dividends of its constituents and to create fresh investment opportunities.