MCT raises $460.5m in oversubscribed preferential offering

12 Nov 2019 - Singapore Business Review
It will be used for the acquisition of Mapletree Business City (Phase 2). Mapletree Commercial Trust (MCT) has raised about $460.5m in a preferential offering of 205.59 million units priced $2.24 per unit, the company announced. MCT received a total of 298.89 million units, including excess applications ...
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US-China trade doubts, HK unrest spook investors

12 Nov 2019 - The Business Times
SINGAPORE equities got the week off to a rough start after doubts surrounding US-China trade talks surfaced and tensions in Hong Kong were at fever pitch once again. The Straits Times Index (STI) could not shrug off those concerns despite better-than-expected earnings from DBS Group... To continue reading ...
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DBS has solid Q3, but faces margin squeeze

12 Nov 2019 - The Business Times
Singapore SOUTH-EAST Asia's largest lender DBS will not be able to meet its 2019 net interest margin (NIM) growth forecast that it had guided for earlier, as the three interest rate cuts by the US Federal Reserve this year took the bank by surprise. In its third-quarter results briefing on Monday, DBS ...
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Mapletree Commercial Trust's preferential offering 1.45 times subscribed

11 Nov 2019 - The Business Times
MAPLETREE Commercial Trust (MCT) has raised S$460.5 million in gross proceeds from its preferential offering, which was 1.45 times subscribed, it said on Monday night. Some 205.6 million new units will be issued on the basis of 71 new units for every 1,000 existing units in MCT. The issue price for the ...
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Singapore shares drop 0.7% on Monday after HK unrest, doubts over US-China trade deal

11 Nov 2019 - The Business Times
Local equities got the week off to a rough start after doubts emerged over US-China trade talks and tensions in Hong Kong seemed to hit fever pitch once again, with one person shot by police and another reportedly set alight by protestors. The Straits Times Index (STI) could not shrug off those concerns ...
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Vicom net profit up 6.5% to S$7.2m in Q3

11 Nov 2019 - The Business Times
TECHNICAL testing and vehicle inspection group Vicom has posted a net profit of S$7.2 million in the third quarter, up 6.5 per cent from the same period a year earlier. Revenue in the three months ended Sept 30 was S$26.4 million, up 4.7 per cent from the same period a year earlier on higher business ...
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Dennis Tan quits as OCBC's head of consumer financial services, Sunny Quek taking over

11 Nov 2019 - The Business Times
DENNIS Tan who oversees OCBC Bank's consumer financial services Singapore is leaving the bank. Mr Tan had joined OCBC, the second largest banking group in South-east Asia, 10 years ago as head of branch and group premier banking. He was appointed its consumer financial services Singapore in November ...
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NetLink NBN Trust to support TPG's 5G trial network

11 Nov 2019 - The Edge Markets
SINGAPORE (Nov 11): Units in NetLink NBN Trust fell on Monday afternoon, after the trust announced during the mid-day break that it will be supporting TPG Telecom in its 5G trial network across Singapore Science Park 1 and 2. NetLink Group’s operating arm, NetLink Trust, will be providing the fibre network ...
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Rocky timelines for product launches plagues Venture Corp

11 Nov 2019 - Singapore Business Review
Net margins are expected to be tighter in the same period. Despite Venture Corporation’s 5.5% YoY profit growth to $85.2m in Q3, the firm’s Q4 results are projected to decline to about $80m due to delays in the launch of new product initiatives and the product transition period on that back of an uncertain ...
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Stocks to watch: DBS, Jardine C&C, EHT, Venture, ST Engineering, CapitaLand, UIC, Metro

11 Nov 2019 - The Business Times
THE following companies saw new developments that may affect trading of their securities on Monday: DBS: South-east Asia’s largest bank's net profit for its third quarter climbed 15 per cent, boosted by loan growth, record fee income and higher trading gains, it said on Monday. Net profit for the three ...
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