Million-dollar flat transactions expected to surpass 2020 levels in H1

7 May 2021 - Singapore Business Review
Sales of high-end HDB resale flats have soared to 90% of 2020 levels in the first four months of 2021. Million-dollar HDB resale flat transactions reached 74 in the first four months of 2021, more than 90% of the 82 units sold for the whole of last year, according to data released by SRX. Senior vice ...

SingHaiyi Group launches three-way joint tender

7 May 2021 - Singapore Business Review
The tender is for the well-known $276.8m property in Maxwell Road. SingHaiyi Group has announced that its wholly-owned subsidiary SingHaiyi Investments Pte. Ltd. (SHIPL) has entered in a three-way joint tender with CEL Development Pte. Ltd. and Chuan Investments Pte Ltd (CIPL) for the collective purchase ...
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SPH salvages media business by going non-profit

7 May 2021 - Singapore Business Review
Singapore Press Holdings' media business bled red in the last financial year. Singapore Press Holdings Limited (SPH) announced that it will transfer its media business to a not-for-profit entity. In a bourse disclosure, the company announced that its relevant subsidiaries, employees, News Centre, Print ...
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Moonstake Partners with IOST Blockchain, Soon to Enable Support for IOST Staking

7 May 2021 - ACN Newswire
Today, Moonstake announces it has formally joined an alliance with the IOST blockchain. Through this partnership, Moonstake will collaborate with the IOST development team to enable staking functionality for IOST coin on our wallets.Moonstake started in the staking business last year with the aim to ...
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OUE, Auric to take 40% stake of Indonesia's Matahari retailer

6 May 2021 - Singapore Business Review
The two firms have formed a joint venture that has offered to buy at $0.14 (IDR1,530) per offer share. The OUE Retail Holdings Pte. Ltd. has entered in a joint venture with Auric Bespoke I Ptr. Ltd. (ABIPL) to acquire 40% in the capital of PT Matahari Department Store Tbk. The joint venture established ...

Ascendas REIT private placement oversubscribed at $2.944

6 May 2021 - Singapore Business Review
Parts of the proceeds of the private placement will be used to fund its acquisition of Galaxis. Ascendas Real Estate Investment Trust announced that its private placement of 142,644,000 new units have been oversubscribed. "The Private Placement was approximately2.6times covered and drew strong demand ...
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SME cashflow returns to pre-circuit breaker levels: OCBC

7 May 2021 - Singapore Business Review
Small and medium-sized enterprises in healthcare and transport were the strongest performers in OCBC's SME index last quarter. Small and medium enterprises (SMEs) have finally hit a positive score in OCBC's SME Index. For its first quarter report, SMEs finally breached the neutral 50 to a have a positive ...

SingPost reports fragile fiscal year with 47.7% net profit decline

7 May 2021 - Singapore Business Review
COVID-19 hit the postal service's operations hard. The Lion City's postal service, Singapore Post Limited (SingPost) reported a 47.7% decline in net profit, at $47.6m for the fiscal year ending in March 2021. Despite a 6.9% increase in revenue to 1.4 billion driven by eCommerce sales, this was almost ...
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UOB net profit swells by 46% QoQ

6 May 2021 - Singapore Business Review
The group reported $1b net profit for the first quarter of 2021. UOB Group had a strong start for 2021 as net profit grew by 46% to $1b QoQ compared to $688m in Q4 2020. The group attributed the growth to robust customer franchise growth amidst recovery and improving market sentiments coupled with lower ...

Singapore Business Review recognises top winners for International and National Business Awards

6 May 2021 - Singapore Business Review
This year’s International Business Awards and National Business Awards were held last April to May. The COVID-19 pandemic hasn't ended yet, but its impact on businesses has already left a devastating effect on many companies globally. And while specific industries have borne the full brunt of the catastrophe, ...
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