32 minutes ago
Broker's take: DBS says Bukit Sembawang land bank undervalued, initiates with 'buy'
Vivienne Tay - DBS Group Research has initiated coverage on Bukit Sembawang Estates with "buy" and a S$5.44 target price.
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
38 minutes ago
HK brokers ready war chest for mom-and-pop bidding frenzy in Ant's mega IPO
Vivien Shiao - Hong Kong's brokerages are readying billions of margin-lending dollars to tap an expected surge in retail demand for China's fintec giant Ant Group's likely US$35 billion dual-listing in Hong Kong and Shanghai in the next few weeks, industry officials said.
57 minutes ago
ST Engineering and Montran Corporation sign MOU to focus on digital financial services in Asia Pacific
Felicia Tan - Singapore Technologies Engineering (ST Engineering) and Montran Corporation have signed a memorandum of understanding (MOU) to establish a strategic alliance to focus on the digitalisation of critical payments and securities settlement systems for the financial services industry in Asia Pacific. The ...
1 hour ago
Residential property prices rise in Q3 as investors reposition asset
Staff Reporter - Uploaded By: Frances Gagua Submitted By: Frances Gagua Case Study: No Long-term investors, wealthy buyers may be looking at properties amidst flight from riskier assets. Prices of landed and non-landed properties registered increased in the third quarter as consumer confidence ste ...
1 hour ago
Singtel subsidiary NCS acquires 2359 Media to deepen its NEXT Digital service offerings in Asia Pacific
Felicia Tan - NCS, the ICT arm of Singtel Group, will acquire regional digital services consultancy 2359 Media to enhance NCS’s service offerings in digital, cloud, platforms and cybersecurity. 2359 Media will become a part of NCS NEXT’s digital arm. The award-winning Singapore-based company was founded in 20 ...
2 hours ago
Huawei's nine-month revenue growth slows as US restrictions bite
China's Huawei Technologies Co Ltd reported a 9.9per cent rise in nine-month revenue on Friday, as U.S. export restrictions and the global COVID-19 pandemic weakened sales growth in products such as smartphones and telecoms equipment.
2 hours ago
It's a 'buy' for CSE Global
Amala Balakrishner - DBS Group Research is maintaining its “buy” call on oil, gas and telecommunications operator CSE Global, but at a revised target price of 57 cents. This is down 4 cents from its previous 61 cent call, and is believed to give the counter a 27% upside from its 46 cent price on Oct 22, analyst Ling ...
2 hours ago
Singapore’s GIC holds 15.6% post-IPO stake in US cybersecurity firm McAfee
Leslie Shaffer - At the IPO price, the stake was valued around $517.4 million. The post Singapore’s GIC holds 15.6% post-IPO stake in US cybersecurity firm McAfee appeared first on DealStreetAsia.
2 hours ago
'Dumb mistake' exposed Iranian hand behind fake Proud Boys US election emails: Sources
WASHINGTON: Government analysts and private sector investigators were able to rapidly attribute to Iranian hackers a wave of thousands of threatening emails aimed at US voters because of mistakes made in a video attached to some of the messages, according to four people familiar with the matter ...
2 hours ago
Prices of office space inch up 2.2% in Q3
Staff Reporter - Uploaded By: Alyssa Divina Submitted By: Staff Reporter Case Study: No But rental prices slipped 4.5%. Prices of office spaces in Singapore jumped 2.2% in Q3, but rentals slipped 4.5% after remaining unchanged in the previous quarter, according to an URA report. Price index rose f ...
2 hours ago
Singapore imposes life ban on BSI Bank's former rep Swampillai over 1MDB
SINGAPORE (Oct 23): The Monetary Authority of Singapore (MAS) has issued lifetime Prohibition Orders (POs) against Kevin Michael Swampillai, a former representative and head of the Wealth Management Services Department of BSI Bank Ltd, Singapore Branch (BSIS). These POs were issued at the conclusion ...
3 hours ago
'CIA'-like street food vendors first on scene to feed Thai protesters
Claudia Tan - BANGKOK: With an intelligence network so good they have been compared to the CIA, Thai street vendors are often first on the scene at "guerilla" protests in Bangkok, where they hawk sour pork and fishballs to a hungry crowd. After a government crackdown last week, protest groups have begun keeping . ...
3 hours ago
Exclusive: 'Dumb mistake' exposed Iranian hand behind fake Proud Boys US election emails, sources say
Claudia Tan - Government analysts and private sector investigators were able to rapidly attribute to Iranian hackers a wave of thousands of threatening emails aimed at U.S. voters because of mistakes made in a video attached to some of the messages, according to four people familiar with the matter.
3 hours ago
‘Buy’ Keppel Pacific Oak US REIT due to strong 3Q numbers and rental reversions: RHB
Lim Hui Jie - RHB Group Research’s Vijay Natarajan has maintained his “buy” rating and target price of 80 US cents on Keppel Pacific Oak US REIT (KORE), citing a “strong set of 3Q numbers with healthy double digit rent reversions.” Natarajan said KORE’s management shared that despite a prolonged COVID ...
3 hours ago
Maharashtra invites Tesla after Musk hints entry into India
Claudia Tan - India's richest state Maharashtra has invited U.S. electric-car maker Tesla Inc, weeks after its Chief Executive Officer Elon Musk suggested entering the country next year.
3 hours ago
HDB resale transactions spike 127.3% in Q3 after end of COVID-19 circuit breaker
Claudia Tan - SINGAPORE: The number of Housing and Development Board (HDB) flats sold in the resale market in the third quarter rose by 127.3 per cent after the lifting of Singapore's "circuit breaker" in June. Official figures released on Friday (Oct 23) showed that 7,787 flats were sold from July to ...
3 hours ago
First Reit's Indonesia unit asks to restructure master lease agreements
Rachel Mui - THE manager of First Real Estate Investment Trust (First Reit) on Thursday said it has received a request from its Indonesian subsidiary, Metropolis Propertindo Utama (MPU), for the restructuring of existing master lease agreements, additional rental relief for the second half of the year, as well ...
3 hours ago
Retail property price rise 2.3%, rentals dip 4.5% in Q3
Staff Reporter - Uploaded By: Paul Howell Submitted By: Paul Howell Case Study: No Stock retail space took a plunge from a previous increase. Retail prices are going up by 2.3% whilst rentals of retail space are down by 4.5% in the third quarter of 2020, according to the latest data released by th ...
3 hours ago
Russian hackers attack US state and local government networks, US government says
Claudia Tan - Hackers sponsored by Russia have been trying to break into U.S. state and local government computer networks and in two instances were successful, U.S. government agencies said on Thursday - the second major warning over foreign hacking in as many days.
3 hours ago
Goldman Sachs to pay US$2.9 billion, claw back executive pay over role in 1MDB corruption scandal
WASHINGTON: Goldman Sachs on Thursday (Oct 22) said it was clawing back US$174 million in executive compensation and had agreed to pay US$2.9 billion over its role in Malaysia’s 1MDB corruption scandal, lifting a cloud that has hung over the bank for years. The settlement with the US Department ...
3 hours ago
Goldman Sachs Singapore to pay authorities S$165 million for role in 1MDB scandal
SINGAPORE: Goldman Sachs Singapore will pay US$122 million (S$165 million) to the Singapore Government for its role in bond offerings related to 1MDB, the authorities said on Friday (Oct 23). The payment comes after Goldman Sachs entered a deferred prosecution agreement (DPA) on Thursday with the . ...
3 hours ago
UK plans for self-driving cars threaten safety - insurance group
Claudia Tan - LONDON: British government plans that could allow self-driving cars on motorways as soon as 2021 would put lives at risk because the available automated technology falls well short of human driving capabilities, UK insurance group Thatcham Research said on Friday. "We don't believe that this ...
4 hours ago
MPA, partners to produce 1000 traineeships, attachments in the maritime sector
Staff Reporter - Uploaded By: Paul Howell Submitted By: Paul Howell Case Study: No Opportunities are in automation, digitalisation and supply chain integration. The Maritime and Port Authority of Singapore (MPA) is partnering SkillsFuture Singapore (SSG), Workforce Singapore (WSG) and the Singapor ...
4 hours ago
Cisco's Webex participants near 600 million as pandemic flares again
Fiona Lam - Cisco's video-conferencing app Webex clocked 590 million participants in September and is on track to record over 600 million this month, nearly double the numbers recorded in March when countries started shutting down due to the pandemic.
4 hours ago
Singapore shares rise at Friday's open; STI up 0.2%
Vivienne Tay - SINGAPORE stocks opened slightly higher on Friday following gains on Wall Street as investors take heart from the prospect of more fiscal stimulus in the US economy.
4 hours ago
Singapore retail rents down 4.5% in Q3, vacancy flat at 9.6%: URA
Nisha Ramchandani - RENTALS of retail space in Singapore's central region dropped 4.5 per cent quarter on quarter in the third quarter of 2020, after declining 3.5 per cent in the previous quarter.
4 hours ago
Hong Kong fines Goldman Sachs record US$350 million over 1MDB failings
HONG KONG: Hong Kong's markets watchdog on Thursday (Oct 22) fined Goldman Sachs's Asian business US$350 million for its role in Malaysia's multibillion-dollar 1MDB scandal, the largest single fine ever levied by the regulator in the Asian financial hub. The Securities and Futures Commission (SFC) . ...
4 hours ago
iFast posts record net profit with 150% y-o-y growth in 3Q20
Jovi Ho - Digital bank hopeful iFast Corp has reported record high net profit and assets under administration (AUA) in 3Q20 of $6.16 million and $12.59 billion respectively. Net profit grew 150.6% y-o-y, achieved on the back of a 35.7% y-o-y increase in net revenue to $22.9 million and a 33.3% y-o-y inc ...
4 hours ago
MAS bans ex-BSI Bank rep over $6.79m ‘secret profits' from 1MDB
Staff Reporter - Uploaded By: Paul Howell Submitted By: Paul Howell Case Study: No Swampillai also made deliberate misrepresentations to 1MDB’s auditors. The Monetary Authority of Singapore (MAS) has issued lifetime prohibition orders against Kevin Michael Swampillai, former representative a ...
4 hours ago
Singapore office rents fall 4.5% in Q3: URA
Nisha Ramchandani - RENTALS of office space in the central region of Singapore fell 4.5 per cent quarter on quarter in the third quarter of 2020 after remaining flat in the previous quarter.
4 hours ago
Medinex buys 4.59% stake in HC Surgical for about S$2.2m
Vivienne Tay - MEDICAL support services provider Medinex on Friday said it acquired a 4.59 per cent stake in its controlling shareholder HC Surgical Specialists (HCSS) for about S$2.2 million.
4 hours ago
Goldman Sachs charged US$122m by Singapore over 1MDB scandal
Staff Reporter - Uploaded By: Alyssa Divina Submitted By: Staff Reporter Case Study: No They will also pay US$2.3 billion to the US government. Singapore will fine Goldman Sachs Singapore Pte (GSSP) US$122m for its role over the 1Malaysia Development Berhad scandal. This is part of the Deferred Pr ...
4 hours ago
Stocks to watch: Mapletree Commercial Trust, iFast, Straits Trading, Chip Eng Seng
Rachel Mui - THE following companies saw new developments that may affect trading of their shares on Friday:
4 hours ago
Japan's unorthodox household goods champion rides a pandemic boom
Fiona Lam - Iris Ohyama, whose goods are ubiquitous in Japanese homes, has relied on its usual offbeat methods during the COVID-19 pandemic and U.S.-China trade tensions to ride the teleworking wave and bring production back from China.
5 hours ago
iFast Q3 net profit surges 150.6% to S$6.2m on higher revenue
Uma Devi - WEALTH management and brokerage platform iFast Corporation on Friday reported a net profit of S$6.2 million for the third quarter ended Sept 30, up 150.6 per cent from S$2.5 million in the year-ago period.
5 hours ago
Former BSI banker banned for life by MAS over US$5 million in ‘secret profits’ linked to 1MDB scandal
SINGAPORE: The Monetary Authority of Singapore (MAS) has issued lifetime prohibitions orders against a former banker for his role in the 1MDB scandal that saw him receive US$5 million (S$6.8 million) in “secret profits”, said the authority early on Friday morning (Oct 23). Mr Kevin Michael ...