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UOB Kay Hian Research cautious over surge in cement companies' prices

14 Jun 2019 - The Star Online
KUALA LUMPUR: UOB Kay Hian Malaysia Research has cautioned investors the surge in share prices of cement companies amid speculation of cement prices rising by up to RM80 a tonne (40%) as “unwarranted”. It said on Friday demand was unlikely to firm up enough to sustain such average selling price (ASP) ...
sgx:u10 sgx:u11

OCBC’s private bank eyes Malaysia expansion after buying Pacific Mutual Fund

14 Jun 2019 - The Star Online
SINGAPORE: Oversea-Chinese Banking Corp.’s private bank is set to expand into Malaysia following its deal to acquire an investment firm in the Southeast Asian nation. OCBC’s Bank of Singapore wealth unit agreed this week to buy Pacific Mutual Fund Bhd. for RM35.6mil (US$8.5mil). The transaction will ...

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

14 Jun 2019 - Singapore Business Review
Around 1,400 civil servants will also benefit from a higher one-off lump sum payment. Civil servants can expect to receive a mid-year bonus of 0.45 month in July, as well as a one-off lump sum payment of $200, an announcement by the Public Service Division (PSD) revealed. Lower-wage civil servants in ...

Retrenchments grew to 3,230 in Q1 over manufacturing cutbacks

14 Jun 2019 - Singapore Business Review
High costs and industry downturn prompted more retrenchments. About 3,230 employees were retrenched in Q1 2019, up from 2,510 in the previous quarter and 2,320 in the previous year, the Ministry of Manpower (MOM) revealed. The increase was driven by manufacturing retrenchments (from 380 to 1,040) and ...

SATS eyes over $1b in capex and investments from FY20-22

14 Jun 2019 - Singapore Business Review
This means that SATS may shell out $333m annually on average during the three-year period. SATS is targetting about $1b of proposed capex and investment over the next three years to increase its APAC aviation presence in catering and air cargo market, to become the leading central kitchen supplier in ...

How can CapitaLand Retail China Trust fund its $589.2m mall acquisition?

14 Jun 2019 - Singapore Business Review
A private placement paired with preferential offering could boost its DPU, an analyst said. A private placement, amongst other equity fundraising exercises, could boost the distribution per unit (DPU) of CapitaLand Retail China Trust (CRCT), which is seeking to fund the $589.2m (RMB2.96b) acquisition ...
sgx:c31 sgx:au8u

Here's why ThaiBev's turnaround may already be in the works

14 Jun 2019 - Singapore Business Review
A rebound in beer consumption and retail sales bodes well for the second largest Thai beer player. Thailand’s domestic beer consumption rose jumped 21% YoY in April, signalling what could be a demand recovery for Thai Beverage which has faced a slump in 2018. Also read: Bottoms up: The worst is over ...

Singtel unit unveils EUR500m fixed rate notes due 2029 at 1%

14 Jun 2019 - Singapore Business Review
Singtel Optus will utilise the funds for general corporate purposes. Singtel subsidiary Singtel Optus priced its EUR500m ($770.82m) 10 year fixed-rate notes at 1% per annum and for maturity on 20 June 2029, an announcement revealed. Under the Optus Finance EUR3b ($4.62b), the issued notes are guaranteed ...

Faster immigration clearance for British travellers in Singapore launched

14 Jun 2019 - Singapore Business Review
Enrolment for the Frequent Traveller Programme is free. The Immigration & Checkpoints Authority (ICA) has extended the Frequent Traveller Programme (FTP) to eligible holders of UK passports and all holders of the APEC Business Travel Card (ABTC) starting 13 June, an announcement revealed. This will enable ...

Daily Markets Briefing: STI up 0.4%

14 Jun 2019 - Singapore Business Review
Singtel was the top active stock and grew 0.9%. The Straits Times Index ended 12.92 or 0.4% higher at 3,220.66. The top active stocks were Singtel, which grew 0.9%, DBS, which dipped 0.08%, UOB, which edged up 0.57%, OCBC, which slipped 0.28%%, and YZJ Shipbuilding with a 1.38% advance. The FTSE MidCap ...