Resources Prima Group's unit's vice-president resigns

21 Jul 2017 - Business Times Breaking News
THE vice-president of the Indonesia-incorporated subsidiary of Resources Prima Group, PT Rinjani Kartanegara, has resigned to "pursue other career opportunities".In a Singapore Exchange filing on Friday, Catalist-listed Resources Prima Group said that Bhondan Suryo Bhroto's resignation will be effective ...

Property market records fifth en-bloc sale this year

21 Jul 2017 - Singapore Business Review
The Albracca at Meyer Road was sold collectively for $69.1m. Singapore has seen its fifth en-bloc sale this year with Sustained Land Pte Ltd buying Albracca, a 10-storey residential development along Meyer Road, for $69.1m. The Albracca is an 11-unit strata-titled development located at a prominent corner ...

Hot stock: Swee Hong soars after end of scheme of arrangement

21 Jul 2017 - Business Times Breaking News
CIVIL engineering company Swee Hong's shares rose by 35.7 per cent on Friday morning to S$0.019.This came after it announced the end of the scheme of arrangement between the company and its creditors on Thursday, which took effect in December 2015.Swee Hong last traded at S$0.014.

SingPost eyes using automation to address labour issues

21 Jul 2017 - Singapore Business Review
This is part of its turnaround plan for TradeGlobal. Singapore Post's management is implementing a turnaround plan for TradeGlobal and this involves using warehouse automation to address labour issues. According to Maybank Kim Eng analyst John Cheong, the turnaround plan will also tackle structural issues ...

Nam Cheong suspends trading

21 Jul 2017 - Business Times Breaking News
NAM Cheong has called for a trading suspension on Friday with immediate effect. This comes after the mainboard-listed company said on Thursday that it has decided to "temporarily cease" repayment on all its borrowings while it seeks to undergo restructuring.

CapitaLand Mall Trust's property income inches up 1.2% to $117.6m

21 Jul 2017 - Singapore Business Review
Thanks to lower utilities and maintenance expenses. It was a decent quarter for CapitaLand Mall Trust as it recorded a 1.2% increase in its net property income to $117.6m. According to OCBC Investment Research analyst Wong Teck Ching Andy, the increase in NPI is due to the lower utilities and maintenance ...

Malaysia: Shares open higher

21 Jul 2017 - Business Times Breaking News
Malaysia share prices opened higher on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.14 points to 1,755.77. Volume was 136.2 million lots worth RM52 million.

Hot stock: Union Gas debuts above IPO price

21 Jul 2017 - Business Times Breaking News
UNION Gas, which launched its initial public offering (IPO) on July 13, opened at S$0.295 on Friday, slightly above its IPO price of S$0.25.The bottled gas supplier and compressed natural gas provider starting trading on the Catalist board on the Singapore Exchange on Friday. Its IPO was 7.1 times subscribed, ...

Daily Briefing: HDB to launch new sales scheme; SPH diversifies outside media after profit plunge

21 Jul 2017 - Singapore Business Review
Airbnb-like company Roomorama halts processing bookings. From via Yahoo!: Starting next month, the Housing Board will also introduce a new sales mode for remaining unsold unit called the Re-Offer of Balance Flats (ROF). This will help those with urgent housing needs and those less particular ...

Chart of the Day: Consumer loan growth moderates in May

21 Jul 2017 - Singapore Business Review
It went up by a measly 1%. This chart from Maybank Kim Eng shows the easing in consumer loans, which reflected only a 1% growth in May. According to Maybank Kim Eng, the moderation in consumer loans came as housing loans grew 4.1%, despite some adjustments to property cooling measures in March. This ...