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Sembcorp Marine's Q4 profits sink 94.9% to $5.93m

20 Feb 2019 - Singapore Business Review
It blamed losses from the $34m sale of a semi-submersible and continued low business volume. Sembcorp Marine’s (SembMarine) Q4 profits plunged 94.9% YoY to $5.93m from $117.31m, an announcement revealed. Its revenue inched up 0.2% YoY from $911.57m to $913.17m. In FY18, the firm’s total profits sunk ...

Daily Briefing: New issues ‘overshadowed' Singapore-Malaysia water talks; AI startup ViSenze secures $27.06m Series C funding

20 Feb 2019 - Singapore Business Review
And here's why REDAS is calling for a review of the property cooling measures. From Channel News Asia: Singapore’s Ministry of Foreign Affairs revealed that its water talks with neighbouring country Malaysia were ‘overshadowed’ by new maritime and airspace issues when they had discussions in December. ...

Singapore bank ROEs to hit over 11% in 2020

20 Feb 2019 - Singapore Business Review
Thanks to the shift towards fees and commission in the non-interest income mix. Singapore banks ROEs are expected to rise by 169 bp YoY in 2018 as loans and margins improve and credit charges remain benign, according to Maybank Kim Eng. The earnings visiblity for the Singapore banking sector has improved ...

Chart of the Day: Top five F&B stocks hit average returns of 19.9% in January

20 Feb 2019 - Singapore Business Review
ThaiBev's returns soared to 35.5% YTD. This chart from the Singapore Exchange (SGX) with data from Bloomberg shows that the top five best performers amongst food and beverage (F&B) stocks saw their average returns hit 19.9% YTD in January. This brings their 1Y and 3Y total returns to 9.1% and 49.8%, ...

Pesona Metro bags RM408.8m contract from MRCB

19 Feb 2019 - The Star Online
KUALA LUMPUR: Pesona Metro Holdings Bhd has secured a RM408.80mil contract from Malaysian Resources Corporation Bhd (MRCB) to build three blocks of apartments. Pesona Metro said its unit Pesona Metro Sdn Bhd had on Tuesday received the letter of acceptance from MRCB Builders Sdn Bhd for the superstructure ...
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edotco appoints two new directors

19 Feb 2019 - The Star Online
KUALA LUMPUR: edotco Group has announced two new director appointments to its leadership team. In a statement issued today, the integrated telco infrastructure services company said Megat Mohd Zukarlai has been appointed director of business acceleration.

Mapletree Industrial Trust receives SGX approval to raise $201m via private placement

19 Feb 2019 - Singapore Business Review
The proceeds will partially fund the firm’s Tai Seng acquisition. Mapletree Industrial Trust (MIT) has received an ‘in principle’ approval from the Singapore Exchange (SGX) for the private placement of 103.36 million new units to raise $201m, an announcement revealed. Priced at $1.945 per new unit which ...
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Unsold residential units doubled to over 34,000 in 2018

19 Feb 2019 - Singapore Business Review
This was driven by the softening en bloc sales. The number of unsold residential units nearly doubled to 34,467 in 2018 as Singapore's home supply pipeline builds up from the number of en-bloc sales approved by the Strata Titles Board, according to List Sotheby’s International Realty (List SIR). Nearly ...

Taxi drivers could bear brunt of diesel tax hikes

19 Feb 2019 - Singapore Business Review
Duties will be raised from $0.10 to $0.20 per litre. Taxi drivers could reel from higher fuel costs after finance minister Heng Swee Keat announced that diesel taxes will be raised from $0.10 per litre to $0.20 per litre, according to DBS Equity Research analyst Janice Chua. In order to offset the increase, ...

NODX slipped 10.1% in January

19 Feb 2019 - Singapore Business Review
This is the worst NODX performance since October 2016. Singapore’s non-oil domestic exports (NODX) extended December’s downward trend after exports dipped 10.1% in January amidst declines in both electronic and non-electronic exports, Enterprise Singapore (ESG) revealed. On a MoM seasonally adjusted ...