Market Update: STI closes above 3,000-point level despite losses

8 Mar 2021 - Singapore Business Review
The Straits Times Index ended Friday's trading with a slight downturn of about 0.93 points or 0.03% closing at 3,013.85. For the week, STI closed higher by 2.1%. About 2.44-billion securities worth S$1.61-billion changed hands with more advancers than decliners (255 to 211), despite the main index ending ...
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Ryde to launch $200m IPO

8 Mar 2021 - Singapore Business Review
The riding app has appointed SAC Capital as financial advisor for the IPO to be listed through Catalist. Singapore riding app Ryde is preparing to launch a $200m valuation through an initial public offering (IPO) slated for 2022. The IPO will be listed through SGX’s Catalist. The company has appointed ...
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Medtecs International to sustain high profit margin: DBS

5 Mar 2021 - Singapore Business Review
This is despite the expected drop in demand for PPEs. Medtecs International Corporation will continue to have soaring profits despite vaccine rollouts bringing down the demand for personal protective equipment (PPE) and average sale prices (ASP) decline, according to DBS Group Research. DBS Group Research ...
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MAS bans four individuals for market misconduct

3 Mar 2021 - Singapore Business Review
They have also been convicted. The Monetary Authority of Singapore has issued prohibition orders (POs) against four individuals convicted for market misconduct. They are Lau Wen Hang, former CGS-CIMB Securities remisier; Yeo An Lun, former Prudential Assurance Singapore representative; Goh Qi Rui Rayson, ...
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Singapore's ultra wealthy population continues to rise

2 Mar 2021 - Singapore Business Review
Knight Frank expects the population of ultra wealthy in Singapore to be more than 4,000 by 2025. The population of people who have the lion's share of wealth in the Lion City continues to grow. In the latest The Wealth Report, real-estate consultancy Knight Frank reported that Singapore in 2020 had a ...

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Netlink NBN continues upward trajectory through 2022: OCBC

2 Mar 2021 - Singapore Business Review
Company revenue projected to reach $396.7m next year. Netlink NBN Trust revenues will continue to soar through 2022 despite revenue dipping by 0.5% YoY for 9MFY21, according to an investment research by OCBC. The research said the slight decrease was due to lower installation-related revenues but was ...
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Medtecs International revenue skyrockets by 480.4%

1 Mar 2021 - Singapore Business Review
Global surge in demand for PPEs attributed to the increase in revenue. Taiwan-headquartered and SGX-listed Medtecs International Corporation Limited's revenue soared by 480.4% to $532.6m (US$400.3m) for the year-ended 31 December 2020. The increase in revenue was attributed to the global surge in demand ...
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CapitaLand records $1.57b net loss in FY2020

25 Feb 2021 - Singapore Business Review
This is due to revaluation losses and impairments. CapitaLand Limited has posted a net loss of around $1.57b for FY2020, which is mainly attributed to revaluation of investment properties, and impairment of projects and equity investments, the group announced. The revaluation losses were limited to a ...
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PropNex profits grew 47% in 2020, crosses 9,000 mark in sales force

24 Feb 2021 - Singapore Business Review
This was led by domestic demand in private residential and public housing. Singapore’s largest listed real estate agency PropNex Limited reported a 47.8% YoY growth in net profit after tax for the last fiscal year which ended on 31 December. This amounts to $31.2m, led by the domestic demand in both ...
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Haw Par FY2020 earnings fell 34% to $119.8m

23 Feb 2021 - Singapore Business Review
Its revenue for the year dropped 54.5% YoY to $111m. Healthcare company Haw Par has recorded a 34% decline in its profit for FY2020 to $119.8m from the previous year’s $182.2m, the company announced in a filing. The group’s revenue for the whole 2020 dropped 54.5% YoY to $111m due to weak consumer spending ...
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