News

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.

Growth in four business segments contributed to the group’s sales volume surge as key strategic initiatives worked out.

Revenue grew 26% to S$2.5bln as the group attributes growth to IndoChina region’s contribution, accounting for 48% APB’s PBIT.

The offshore construction services provider reported a 27.5% increase in revenue to US$122.4, taking into consideration the contributions arising from the projects awarded to the company since November 2009.

The ratings agency said the telecommunications company’s S$4.44b revenue was in line with its expectations and has no immediate impact on the company's Aa2 rating.

The niche property developer Heeton Holdings has posted a net profit of $16.9 million for the nine months on revenue of $32.7 million, compared with net profit of $10.3 million on revenue of $41.9 million a year ago. This takes into account a $4.7 million profit contribution during the nine months from the divestment of wet markets operations in 1Q10. Excluding this item, the increase innet profit from continuing operations was 25.1%.

Flat passenger operating data for the past two months and soaring jet fuel prices are making the carrier’s stocks unattractive despite its 18% revenue increase for 2QFY11 to S$3,631.2m.

Singapore trails behind Hong Kong with 22% share in region’s total direct real estate investment, which rose 53% to US$18bln.

Yet they still seek more and faster data as survey finds data deluge driving IT investments in customer relationship management software and security systems.

SGX opens door to its 34th maritime & offshore listed company with market capitalisation of S$80mln.

Robust growth in Singapore and Australia helped propel the telecommunications company’s revenue for 2Q by 8% toS$4.44b despite incurring losses earlier this year due to the acquisition of an African mobile services provider.