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Singapore's Wilmar Q4 net profit halves on provision for sugar assets

21 Feb 2019 - The Star Online
SINGAPORE: Singapore-listed commodity trader Wilmar International Ltd posted on Thursday a more than 50 percent fall in fourth-quarter net profit from a year earlier, mainly due to a provision linked to sugar milling assets in Australia. The company, which has U.S. agricultural trader Archer Daniels ...

Sembcorp Marine's Q4 profits sink 94.9% to $5.93m

20 Feb 2019 - Singapore Business Review
It blamed losses from the $34m sale of a semi-submersible and continued low business volume. Sembcorp Marine’s (SembMarine) Q4 profits plunged 94.9% YoY to $5.93m from $117.31m, an announcement revealed. Its revenue inched up 0.2% YoY from $911.57m to $913.17m. In FY18, the firm’s total profits sunk ...

Mapletree Industrial Trust receives SGX approval to raise $201m via private placement

19 Feb 2019 - Singapore Business Review
The proceeds will partially fund the firm’s Tai Seng acquisition. Mapletree Industrial Trust (MIT) has received an ‘in principle’ approval from the Singapore Exchange (SGX) for the private placement of 103.36 million new units to raise $201m, an announcement revealed. Priced at $1.945 per new unit which ...
sgx:me8u sgx:s68

Taxi drivers could bear brunt of diesel tax hikes

19 Feb 2019 - Singapore Business Review
Duties will be raised from $0.10 to $0.20 per litre. Taxi drivers could reel from higher fuel costs after finance minister Heng Swee Keat announced that diesel taxes will be raised from $0.10 per litre to $0.20 per litre, according to DBS Equity Research analyst Janice Chua. In order to offset the increase, ...

Chart of the Day: Singapore 2019 defence spending hits 12-year high

19 Feb 2019 - Singapore Business Review
The government is allocating 30% of the budget to defence from 18.5% in 2018. This chart from OCBC Treasury Research highlights how defence will account for a larger share in Singapore's budget mix in 2019 as finance minister Heng Swee Keat reveals that the government will increase spending for the sector ...

Everything you need to know about the Big 4's reactions to Budget 2019

19 Feb 2019 - Singapore Business Review
GST rate increase between 2021 to 2025 has become more certain than ever, says PwC. Finance minister Heng Swee Keat declared a Budget that will build a "strong, united Singapore" amidst a decline in support for globalisation in 2019. Investments worth $6.1b in Merdeka Generation packages, higher government ...

Axiata green lights Keppel-SPH buyout offer for M1

18 Feb 2019 - Singapore Business Review
The Malaysian telco will gain $31m from the transaction. Reuters reported that Axiata group has accepted the bid from Keppel Corporation and Singapore Press Holdings (SPH) to buy 28.7% of its stake in M1 for $549.17m as the Singapore investors valued M1 at $1.9b. “It is actually not an easy decision ...
sgx:t39 klse:6888 sgx:b2f sgx:bn4

Chart of the Day: Top 5 IT stocks hit average return of 26.6% in January

18 Feb 2019 - Singapore Business Review
Creative Technology recorded a 46.2% return in January YTD. This chart from the Singapore Exchange (SGX) shows that Singapore’s top five information technology (IT) performers saw average an average return on 26.6% in 2019 YTD. Their 1Y and 3Y total returns were 63.4% and 146.1%, respectively. Tech firm ...

Axiata's M1 sale provides timely capital for future investment

18 Feb 2019 - The Star Online
KUALA LUMPUR: Axiata Group Bhd 's exit from M1 Ltd for RM1.65bil to Konnevtivity Pte Ltd will allow the group to make a profit and redeploy the capital to fund its capex. In a research note on Monday, Affin Hwang Capital research said it is positive on the deal, which largely falls within its expectations.
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Axiata accepts takeover offer for Singapore's M1 at RM1.65b

15 Feb 2019 - The Star Online
KUALA LUMPUR: Axiata Group Bhd has accepted the general offer for its 28.67% stake in Singapore's M1 Ltd which will see it netting a gain of RM126.45mil on disposal of the shares. Analysts had said Axiata would have to accept the offer unless it was able to find a partner to fund a counterbid since M1 ...
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