Rising competition for Singtel prompts Henderson to sell stock

29 Apr 2017 - DealStreetAsia
Rising competition in Singapore Telecommunications Ltd.’s key markets across Asia has prompted one of the world’s biggest independent money managers to sell the stock. Henderson Global Investors, which oversees about $130 billion globally, sold its Singtel holdings in Asia-based portfolios last month, ...

Oxley's Q3 profit down 12%

28 Apr 2017 - Business Times Breaking News
Property developer Oxley Holdings' net profit for the third quarter ended March 31, 2017 slumped 12 per cent year on year to S$45.7 million.The corresponding quarter a year ago had been boosted by a S$25.7 million gain from the sale of Chiba Port Square in Japan.Revenue for the quarter grew 91 per cent ...

SIA names Dominic Ho as independent non-executive director

28 Apr 2017 - Business Times Breaking News
SINGAPORE Airlines has appointed an independent non-executive director. Accounting professional Dominic Ho Chiu Fai, 66, will take on this role with effect from May 1.In a statement released on Friday, Singapore's flag carrier said that Mr Ho will join the SIA Board Audit Committee. He is a member of ...

Daily Debrief: What Happened Today

28 Apr 2017 - Business Times Breaking News
Singapore manufacturers optimistic over business outlook in next six months SINGAPORE manufacturers are optimistic that business situation will improve in the next six months, based on a business expectation survey by the Economic Development Board released on Friday. Singapore services sector's business ...

Sheng Siong Q1 profit up 4.3% on revenue from new stores

28 Apr 2017 - Business Times Breaking News
SUPERMARKET chain Sheng Siong Group on Friday posted a 4.3 per cent increase in net profit to S$17.1 million from S$16.4 million a year ago, on the back of revenue growth for the first quarter of 2017.Revenue increased by 4.1 per cent, fuelled mainly by income from four new stores opened in 2016. Gross ...

Indonesia economic growth lifts Jardine C&C Q1 earnings

28 Apr 2017 - Business Times Breaking News
ECONOMIC growth in Indonesia and a commodity price recovery lifted results for Jardine Cycle & Carriage in its first fiscal quarter.Net profit shot up 49.6 per cent to US$210.4 million from the previous year, the group said in a Singapore Exchange filing on Friday evening.For the three months ended March ...

UIC's Q1 earnings flat at S$59.8m

28 Apr 2017 - Business Times Breaking News
UNITED Industrial Corp's net profit for the quarter to March was flat at S$59.8 million from S$59.7 million a year ago.The property developer and investment company chalked up a 31 per cent rise in revenue to S$264.5 million from S$201.3 million largely owing to higher sales recognition from trading ...

Rickmers Maritime pays US$2.6m to banks

28 Apr 2017 - Business Times Breaking News
THE trustee-manager of Rickmers Maritime, a distressed container ship business trust, said that it has issued a US$2.6 million voluntary prepayment of cash that had been secured for senior loan facilities extended by a syndicate of banks led by BNP Paribas.The syndicate includes ING Bank, The Bank of ...

OCBC CEO cautions against hopes of strong growth in Singapore in '17

28 Apr 2017 - Business Times Breaking News
OCBC CEO Samuel Tsien on Friday said that while there are signs of recovery in certain sectors of the Singapore economy, he cautioned against hopes of strong broad-based growth this year.Speaking to shareholders at the annual general meeting, Mr Tsien referred to the assessment by Singapore's central ...

Sabana Reit unitholders vote against manager removal, wind-up

28 Apr 2017 - Business Times Breaking News
AT its much anticipated extraordinary general meeting on Friday, Sabana Reit unitholders voted overwhelmingly against removing the underperforming Reit manager (with 69.48 per cent of votes cast against) and against winding up the Reit vehicle (with 71.67 of votes cast against).This means that after ...