SPH profits dropped 23.4% to $213.21m in FY2019

18 Oct 2019 - Singapore Business Review
This was due to falling print advertisement and circulation revenue. Singapore Press Holdings (SPH) profits shrunk to $213.21m for the full-year ending 31 August, 23.4% YoY or $65.2m lower than the $278.38m recorded in 2018, an announcement revealed. Operating revenue also dipped 2.4% YoY to $925.3m ...

CapitaLand Treasury issues $500m perpetual notes

18 Oct 2019 - Singapore Business Review
Listing of the notes is expected to take place on 18 October. CapitaLand Treasury, a wholly-owned subsidiary of a wholly-owned subsidiary of CapitaLand, has issued $500m in aggregate principal amount of fixed-rate subordinated perpetual notes under the $5b Euro Medium Term Note (EMTN) Programme established ...

REITs raise an all-time high share sale of $3.1b

18 Oct 2019 - Singapore Business Review
Increasing investor demand are pushing REITs on a fund-rasing spree. According to Bloomberg, REITs in Singapore are on a fundraising spree on the back of the sector’s share sales reaching $3.1b, the most since 1999, and the Real Estate Investment Trust Index recording 23% this year. The REIT sector was ...

IMDA calls proposals for rolling out 5G

18 Oct 2019 - Singapore Business Review
Two MNOs will be picked to deploy a 3.5GHz spectrum band. The Infocomm Media Development Authority (IMDA) has called for proposals to facilitate the rollout of 5G mobile networks by 2020, with full-fledged 5G standalone capability covering at least half of Singapore by end-2022, according to a press ...

SGX to launch $1.5b multicurrency debt issuance programme

18 Oct 2019 - Singapore Business Review
The net proceeds will be utilised to finance investments of the firms and its subsidiaries. Singapore Exchange (SGX) has established a $1.5b multicurrency debt issuance programme consisting of medium term notes or perpetual securities denominated in any currency, amount and tenor, an announcement revealed. ...

Property investment sales up 33.8% to $8b in Q3

18 Oct 2019 - Singapore Business Review
Public investments surged thanks to more sales under the Government Land Sales programme. Total property investment sales value jumped 33.8% QoQ to $8b in Q3, with the residential segment taking the lead as it accounted for 24.1%, according to an Edmund Tie report. The residential property took back ...

Keppel Corp profits crashed 29.7% to $159.28m in Q3

18 Oct 2019 - Singapore Business Review
Pre-tax profit from its property division nearly halved to $123m amidst lack of divestment gains. Keppel Corporation saw its net profit slid 29.7% YoY to $159.28m in Q3 from $226.62m in 2018, an announcement revealed. This was blamed on the absence of gains from selling a commercial development in Beijing ...

Bahrain wants to bridge Singapore startups to US$1.5t Gulf market

17 Oct 2019 - Singapore Business Review
Startups can easily set up shop with a new fast-track process for registration. Singapore startups can now quickly expand into the US$1.5t Gulf market through a new fast-track setup process launched by the Bahrain Economic Development Board (EDB) in September. The kingdom’s startup ecosystem is gaining ...

Daily Briefing: AA REIT ends $94.91m secondary placement; NTUC FairPrice stops charging for plastic bags

18 Oct 2019 - Singapore Business Review
And here’s how Penang is planning to lure in Singaporean visitors. From DealStreetAsia: AIMS APAC REIT (AA REIT) has completed a $94.91m secondary placement through a book-building process. The total number of units that were subscribed to is approximately 70.32 million priced at $1.35 per unit. The ...

Chart of the Day: CBD office supply could hit 4.6 million sqft in 4 years

18 Oct 2019 - Singapore Business Review
New offices in the Marina Bay Area are expected to boost supply. This chart from Edmund Tie shows that the office supply pipeline in the CBD will be at 4.6 million sqft in the next four years, translating to 1.1 million sqft per annum. The report noted that this figure is lower than the 3- and 5-year ...