News

GOJEK adds DBS PayLah! to payment options

The move aims to encourage users to adopt digital payments.

Singtel revenue could be hit by government contract repricing

A potential IPO of its subsidiary Amobee may offer some reprieve.

Chart of the Day: Singapore's flexible office market expanded threefold in 2013-2018

An estimated two in five office buildings have a flexible office component.

Daily Briefing: Here's how much you really get paid at Google; Discounted Rivière unit sold to Frasers Property director

And here's how Singapore is helping firms integrate persons with disability into the workforce.

Beauty World Plaza relaunches tender at $165m

It got an in-principle approval to convert the residential component to serviced apartments.

ESR-REIT JV to buy logistics property for $225m

The site will serve as Poh Tiong Choon Logistics’ corporate headquarters.

MAS slaps three-year prohibition orders against former UBS banker

Paris Michele was discovered to have falsified company emails and forged documents.

Hyflux in talks with another potential white knight from China

The potential investor is said to be a subsidiary of a state-owned enterprise that provides power services.

Banks step up buyback spree to rescue share price

Most of the buybacks by DBS were done in May, when the share price fell 14%. Singapore banks’ share buybacks have picked up steam in 2019. A Maybank Kim Eng report noted that DBS and OCBC have bought back more shares YTD and much earlier than they did last year. Maybank KE analyst Thilan Wickramasinghe expounded that DBS has bought back 25% YTD of the volume it bought in 2018. “Importantly, this was mostly done in May 2019, when its share price fell 14%. Historically, DBS was most active buying back shares in Q3/Q4,” the analyst said. Meanwhile, OCBC has bought back 60% of the volume it bought in 2018 and much earlier, the analyst added, noting that the DBS and OCBC buybacks in Q2 2019 are equivalent to 55% and 53%, respectively, of their treasury shares balances. Also read: Singapore's big banks are on a buying spree as share buybacks hit $116.5m

NODX dropped 15.9% in May

Electronic exports contracted 31.4% YoY.

Chart of the Day: Employees on short work-week more than doubled to 900 in Q1

Four in five were from the manufacturing sector. This chart from the Ministry of Manpower (MoM) shows that employees on short work-week more than doubled (143%) MoM to 900 in Q1 2019 from 370 in Q4 2018.

Retrenchments grew to 3,230 in Q1 over manufacturing cutbacks

High costs and industry downturn prompted more retrenchments.

Civil servants to receive 0.45 month mid-year bonus in July

Around 1,400 civil servants will also benefit from a higher one-off lump sum payment.