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Industrial production growth likely fell to 3.4% in December

19 Jan 2018 - Singapore Business Review
Moody's said a high base from a year earlier has inhibited gains. Moody's Investors Service forecasts industrial production (IP) growth to slow down to 3.4% YoY from 5.2% last month. According to a report, IP growth has cooled since August, as a high base from a year earlier has inhibited gains. Although ...

Singapore unemployment rate in Q4 to hit 2%: Moody's

19 Jan 2018 - Singapore Business Review
The manufacturing sector shed jobs despite the upturn in exports. Moody's Analytics expects Singapore's unemployment rate to have edged down to 2% as economic activity remained solid in the last part of 2017. Previously, Singapore’s seasonally adjusted unemployment rate edged lower to a one-year low ...

Three Malaysian JVs submit tenders with financing for MRT Circle Line

19 Jan 2018 - The Star Online
UALA LUMPUR: Three Malaysian consortiums and a China JV have submitted their turn-key tenders with financing for the MRT Circle Line when the tender submission closed on Thursday. Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) said on Friday the consortiums were Sapura - TIEC Consortium; MMC-Gamuda–George ...

Chart of the Day: Number of empty homes expected to hit 11,271 in 2021

19 Jan 2018 - Singapore Business Review
The proportion of stock under construction could fall to nearly 20%. This chart from RHB Research shows that by 2021, the number of empty homes in Singapore is expected to hit 11,271 units. In 2018 and 2019, the number of units are expected to hit 7,893 and 8,696, respectively. Private home supply hit ...

HSBC to pay US$100m to end US currency-rigging probe

19 Jan 2018 - South China Morning Post
HSBC Holdings has agreed to pay about US$100 million in penalties to resolve a US Justice Department investigation into the rigging of currency rates, part of a probe that has already led to the conviction of one of its former bankers and charges against another. As part of the deal, HSBC entered into ...
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World’s largest subway system goes cashless as Shanghai Metro adopts QR code

18 Jan 2018 - South China Morning Post
From this weekend, Shanghai metro users will no longer need to worry about leaving their public transport cards at home or losing them, or queuing for tickets, as the world’s largest subway system is introducing a quick response (QR) code for mobile phones to pay for fares. With QR code readers are being ...

Singapore's NODX growth projected to slow down to 6.7% in 2018

18 Jan 2018 - Singapore Business Review
How will GDP growth be affected by the moderation? Singapore’s stellar exports performance in 2017 is starting to lose pace as exports of integrated circuits, computer parts, and printed circuit board (PCB) parts slumped before the year ended. NODX growth is now projected to moderate to 6.7% this year, ...

Singapore cuts monthly COE quota for small cars by 7.3%

18 Jan 2018 - Singapore Business Review
This dragged the average monthly COE quota for all vehicles to 8,544. Singapore cut the monthly quota for the Certificate of Entitlements (COE) it will issue in February to April 2018 from 8,635 to 8,544, the Land Transport Authority (LTA) announced. According to an announcement, the fall was caused ...

Frasers Centrepoint Limited issues $300m fixed perpetual bonds

18 Jan 2018 - Singapore Business Review
The bonds are part of its $5b multicurrency debt programme. Frasers Centrepoint Limited (FCL) issued $300m fixed rate perpetual bonds. According to a press release, the securities are part of its $5b multicurrency debt issuance programme established on 16 January 2017. The bonds were admitted to the ...

Singapore to raise aerospace industry's value by $4b in 2020

18 Jan 2018 - Singapore Business Review
It also wants to create 1,000 new jobs in the industry. Singapore launched the Aerospace Industry Transformation Map (ITM), expecting to achieve a manufacturing value-added of $4b and introduce 1,000 new jobs by 2020. According to the Economic Development Board (EBD), the ITM's three key thrusts include ...