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Singtel's profits slid 26% YoY in Q1

28 May 2020 - Singapore Business Review
This is attributed to Airtel’s charges for regulatory costs. Singapore Telecommunications’ (Singtel) post-tax profits crashed 26% YoY to $574m in Q1 from $773 in 2019, according to an SGX filing. This is attributed to Airtel’s exceptional charges for regulatory costs, including the adjusted gross revenue ...
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MinLaw's proposed bill on rental relief could hurt S-REITs' cash flow

28 May 2020 - Singapore Business Review
The bill has yet to clarify whether the start date is in March or April. S-REITs may likely see its cash flow deteriorate in the near term as the Ministry of Law’s (MinLaw) upcoming new bill requires landlords to share equally the burden of rental reliefs to qualifying SME tenants, according to an analyst ...
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Total company dividends to drop 4.5% in 2020

28 May 2020 - Singapore Business Review
UOB is expected to suspend its special dividend for 2020. Singapore companies are expected to post $20.14b (US$14.2b) in dividends for 2020, a 4.5% YoY fall compared to the $21b (US$14.8b) recorded last year, according to IHS Markit’s 2020 APAC dividends report. This results from the circuit breaker ...
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CapitaLand obtains $500m sustainability-linked bilateral loan

28 May 2020 - Singapore Business Review
This brings the total funds raised to over $2.42b. CapitaLand has obtained a four-year $500m sustainability-linked loan from United Overseas Bank (UOB), according to an announcement. This marks the largest sustainability-linked bilateral loan in Singapore’s real estate sector. The loan is CapitaLand’s ...
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SGX plunges to 17-year low as MSCI signs pact with HKEX

28 May 2020 - Singapore Business Review
The move deals a blow to SGX, which considers the Hong Kong bourse one of its main rivals. Shares in Singapore Exchange Ltd. plunged after MSCI Inc. announced it will move licensing for derivatives products on a host of gauges to Hong Kong from Singapore. SGX’s stock fell 12%, the most since 2003, amidst ...
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Stocks to watch: Singtel, CapitaLand, UOB, SGX, City Dev, Chip Eng Seng

28 May 2020 - The Business Times
THE following companies saw new developments that may affect trading of their securities on Thursday: Singapore Telecommunications (Singtel): The telco’s net profit fell 25.7 per cent to S$574.4 million for its fourth quarter ended March 31, 2020. This came as Singtel took a net exceptional charge of ...
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Chart of the Day: Far East Hospitality Trust's master leases led by fixed rents

28 May 2020 - Singapore Business Review
Slow demand poses a risk to hotels receiving mainly fixed rents. This chart from OCBC Investment Research (OIR) shows the proportion of fixed rent to the variable rent component of Ascott Residence Trust (ART), CDL Hospitality Trusts (CDLHT), and Far East Hospitality Trust (FEHT). Amongst these, FEHT ...
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SGX shares suffer biggest drop since 2003 as MSCI signs agreement with Hong Kong

27 May 2020 - The Edge Markets
(May 27): Shares in Singapore Exchange Ltd. plunged after MSCI Inc. announced it will move licensing for derivatives products on a host of gauges to Hong Kong from Singapore. SGX’s stock fell 11.8% as of 3:22 p.m. local time, set for the biggest drop since 2003, amid concerns over the loss of revenue ...
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Stable playing field a gain for Singapore banks: report

27 May 2020 - Singapore Business Review
High credit costs can be covered by profits. Singaporean banks still reap the benefits of operating in an economically-stable environment, as shown by their robust funding profiles and the sound financial system, according to an S&P Global Ratings report. Sector fundamentals will remain healthy despite ...
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SGX reduces licence agreement with MSCI from February 2021

27 May 2020 - The Edge Markets
SINGAPORE (May 27): Singapore Exchange (SGX) will reduce its licence agreement with MSCI from February 2021, it said in an announcement on Wednesday. With the exception of MSCI Singapore products, the reduced partnership will see SGX’s licence agreement with MSCI expire. MSCI Singapore futures and options ...
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