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Foreign wholesale trade expands by 8.1% in Q4

21 Feb 2018 - Singapore Business Review
Petroleum sales pushed the growth. The foreign wholesale trade industry grew 8.1% year-on-year (yoy) for the fourth quarter of 2017, buoyed by petroleum & petroleum products, and industrial & construction machinery. Foreign sales of petroleum & petroleum products rose by 25.5% yoy due mainly to increase ...

80% of firms fail to spend enough on recruitment

21 Feb 2018 - Singapore Business Review
Firms that don’t boost their hiring budgets will miss out on getting the right candidates, says Hays. Whilst employers in Singapore worry about the impact of skills shortages in their business operations this year, only a few will boost their recruitment initiatives. A survey by recruitment company Hays ...

Hong Kong stocks rebound on HSBC gains, China optimism

21 Feb 2018 - South China Morning Post
Hong Kong stocks rebounded in mid-Wednesday morning trade, clawing back some gains from Tuesday’s steep slide, buoyed by HSBC shares and expectations for inflows when mainland Chinese markets reopen on Thursday after the Lunar New Year holiday. The Hang Seng Index gained 1.18 per cent or 339.16 points ...
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Daily Briefing: Singapore's home tax hike is not a market cooling measure, says minister; Oracle boots second Singapore hub

21 Feb 2018 - Singapore Business Review
And here are two REITs with exciting results this quarter. From Bloomberg Finance: Singapore’s tax increase on home purchases exceeding $1m (US$758,960) is aimed at making duties more equitable rather than imposing an additional property curb, said S. Iswaran, minister of trade and industry. Stamp duty ...

Chart of the Day: Budget balance rose in 2 years

21 Feb 2018 - Singapore Business Review
Thanks to contributions from the Statutory Board and stamp duties. This chart from Morgan Stanley Research shows that Singapore's final budget balance has typically made positive surprises in the last two years. In 2016, the budget balance registered a surplus of 1.3% of GDP, or $5.8b. The government ...

En bloc hype slows down

21 Feb 2018 - Singapore Business Review
There appears to be a bit of “fatigue,” as the recent deals are sold through a private treaty after an unsuccessful public tender. Four private en bloc sale projects were sold recently, bringing YTD en bloc sales to eight sites, worth a collective $3.5b. According to DBS Equity Research, whilst the total ...

32,000 households struggle with mortgage arrears

21 Feb 2018 - Singapore Business Review
Households cannot pay because of lower income, illnesses, and unemployment. Over the last three years, 32,000 out of 405,000 households (7.9%) are stuck in mortgage arrears of three months or more, the Ministry of National Development (MND) revealed. According to a parliamentary reply, of these 32,000 ...

Public Bank, CIMB help KLCI close off lows

20 Feb 2018 - The Star Online
KUALA LUMPUR: Bursa Malaysia's blue chips came under profit taking on Tuesday after the strong gains chalked up the previous day with Petronas Gas and IHH Healthcare giving up bulk of their gains. However, the FBM KLCI ended off the intra-day low of 1,852 on some fund buying of Public Bank, CIMB and ...

Government to slap firms with $5 carbon tax from 2019

20 Feb 2018 - Singapore Business Review
Firms that produced 25,000 or more greenhouse gases per year will have to pay. “The carbon tax will apply uniformly to all sectors, without exemption. This is the economically efficient way – to maintain a transparent, fair and consistent carbon price across the economy to incentivise emissions reduction,” ...

HSBC reports 141 per cent profit rise for 2017, beating analysts’ forecast

20 Feb 2018 - South China Morning Post
HSBC said on Tuesday that its reported pre-tax profit for 2017 stood at US$17.2 billion, up 141 per cent on the equivalent figure for 2016, when the bank booked losses on a number of one-off items. Even after adjusting for the impact of one-off items in 2016, HSBC still beat analysts’ expectations. Its ...
hkex:5 sgx:pu6d