Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

Latest Business Headlines and Stock Market News Published by Singapore Publisher Channel News Asia, Deal Streat Asia, Singapore Business Review, The Business Times, The Edge Market, Today Online @ SGinvestors.io

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48 minutes ago

MAS launching US$5b fund for private equity and venture capital investments

Claudia Chong - THE Monetary Authority of Singapore (MAS) is launching a US$5 billion fund for private market investments, to be managed by top global private equity and infrastructure fund managers.

1 hour ago

Singapore stocks: STI resumes Tuesday afternoon at 3,050.1, down 0.6% on day

Wong Kai Yi - SINGAPORE stocks resumed trading lower after Tuesday's lunch break, with the Straits Times Index retreating 0.6 per cent, or 18.05 points, to 3,050.1 as at 1.02pm.

1 hour ago

Wilmar could see 2018 earnings forecasts upgrade by up to 10%, says UOB Kay Hian

Stanislaus Jude Chan - SINGAPORE (Nov 13): UOB Kay Hian is keeping its “buy” call on agribusiness group Wilmar International with an unchanged target price of $3.90, but says 2018 earnings forecasts could be upgraded by 8-10% after Wilmar’s 3Q18 results briefing later this week on Nov 15. Wilmar on Monday reported ...

1 hour ago

Pan Ocean Q3 profit up 4.4% on improving bulk carrier market

Tan Hwee Hwee - AN improving bulk carrier market bolstered the third-quarter bottom line for South Korea’s bulk carrier, Pan Ocean Co.

2 hours ago

Coming soon: Charge your electric vehicles in just 30 minutes at ComfortDelGro’s new charging station

asyrafkamil - Asyraf Kamil22 min 13 sec agoSINGAPORE — Charge an electric vehicle (EV) in just 30 minutes?

2 hours ago

Analysts keep Valuetronics on 'buy' despite headwinds

Stanislaus Jude Chan - SINGAPORE (Nov 13): Analysts from RHB Research, Maybank Kim Eng Research and UOB Kay Hian are maintaining their “buy” recommendations on Valuetronics Holdings. However, all three brokerages are also lowering their target prices for the electronics manufacturer. This comes as Valuetronics report ...

2 hours ago

Goldman Sachs 'cheated' Malaysia over 1MDB: Mahathir

Nisha Ramchandani - Goldman Sachs Group Inc "cheated" Malaysia over its dealings with state fund 1MDB which is the subject of corruption and money-laundering investigations, Prime Minister Mahathir Mohamad told CNBC in an interview aired on Tuesday.

2 hours ago

APAC Realty kept at 'buy' by RHB on 3Q beat, stock selldown and healthy launch demand

PC Lee - SINGAPORE (Nov 13): RHB Research is maintaining APAC Realty at “buy” given its slight 3Q beat, stock selldown after the latest round of cooling measures in July and healthy demand shown at recent launches. APAC Realty posts 19% rise in 3Q earnings to $6.5 mil on higher revenue “We expect stea ...

2 hours ago

Golden Agri-Resources hit by $74.51m loss in Q3

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No Revenue from the oilseeds segment dropped 23.2% to $499.93m. read more

2 hours ago

Bumitama Agri unanimously rated 'buy' for potential undervaluation, bright outlook

Michelle Zhu - SINGAPORE (Nov 13): Maybank Kim Eng, DBS Vickers Securities, RHB Research and UOB Kay Hian are maintaining their “buy” calls on Bumitama Agri with the respective price targets of 98 cents, 85 cents, 81 cents and 80 cents. All four brokerages continue to like the stock for its positive near- to ...

3 hours ago

Oxley's Q1 profits plummet 83% to $8.06m

Staff Reporter - Submitted By:  Arianna Danganan Case Study:  No It blamed lower revenue contribution from projects in Singapore and overseas. Oxley Holdings’ Q1 profits sank 83% to $8.06m from $48.74m in Q1 FY2018, an announcement revealed. Its revenue also declined 45% to $170.3m from $310.6m in Q ...

3 hours ago

Three adjoining conservation shophouses in Kampong Glam up for sale

Tan Hwee Hwee - PRIVATE equity-owned Columbia Real Estate is offering three restored adjoining conservation shophouses for sale.

3 hours ago

StarHub's frontloading of migration costs could help rebound in 2020: analyst

Staff Reporter - Submitted By:  Arianna Danganan Case Study:  No The telco could see $30m savings annually as it cuts its cable services. StarHub’s frontloading of migration costs may result in a bigger rebound in FY202020F following its announcement to pull the plug on its cable services by June 20 ...

3 hours ago

Sunseap to build five-hectare offshore floating solar system along Straits of Johor

Staff Reporter - Submitted By:  Arianna Danganan Case Study:  No The system will reduce 26,000 tonnes in greenhouse gas emissions once operational in 2019. Sunseap Group is developing one of the world’s first and largest offshore floating photovoltaic (OFPV) systems along the Straits of Johor which ...

3 hours ago

CapitaLand wins bid for Guangzhou Science City site for $175.2m

Staff Reporter - Submitted By:  Arianna Danganan Case Study:  No It plans to build a development comprising of office, retail space and serviced residence by 2022. CapitaLand clinched a 4.7 hectare mixed-use site for $175.2m (RMB882m) in Guangzhou Science City, China which is a government-backed innovatio ...

3 hours ago

Full charge in 30 minutes: ComfortDelGro to introduce fast charging station for electric vehicles

Nisha Ramchandani - SINGAPORE: Electric vehicle (EV) users will soon have access to a charging station that could provide a full battery charge in about 30 minutes, ComfortDelGro said in a news release on Tuesday (Nov 13).  The direct current (DC) fast charging station will be operated by ComfortDelGro Engineering ...

3 hours ago

Sasseur REIT's sales growth momentum will lead to even stronger 4Q: Maybank KE

Michelle Zhu - SINGAPORE (Nov 13): Maybank Kim Eng is maintaining “buy” on Sasseur REIT with an unchanged 90-cent price target after the REIT manager on Monday declared higher-than-forecast DPU of 1.542 cents, outpacing the research house’s 3-40% growth forecasts for its four outlet malls. Looking ahead, th ...

3 hours ago

HDB offers over 7,200 new flats in November sales exercise, including first BTO project in Tengah

asyrafkamil - Asyraf Kamil47 min 40 sec agoSINGAPORE — The Housing and Development Board (HDB) has launched 7,214 news flats for

4 hours ago

Amazon picks NYC and Northern Virginia for additional headquarters - WSJ

Nisha Ramchandani - Amazon.com Inc could announce as early as Tuesday that it has selected New York City and Northern Virginia to be the sites for its second and third headquarters, the Wall Street Journal reported https://on.wsj.com/2RQ2T5P on Monday.

4 hours ago

Apple's Asia suppliers fall amid fears of weak iPhone sales

Nisha Ramchandani - Shares in Asian suppliers and assemblers for Apple Inc fell on Tuesday due to profit warnings that point to weakness in iPhone sales.

4 hours ago

Singapore condo resale prices slip for 3rd month with 0.4% drop in October: SRX

Ann Williams - RESALE prices of private non-landed homes in Singapore declined for the third straight month in October after the latest round of property cooling measures, flash estimates by real estate portal SRX Property on Tuesday showed.

5 hours ago

Daily Briefing: Singapore strengthens trade ties with China; MAS chief flags local data storage risks

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No And Woodleigh Residences sold 60% of released units at soft launch. From Channel News Asia: China and Singapore inked several deals including the upgrade of a bilateral free trade pact, which will allow greater market access for Singapore com ...

5 hours ago

Daily Markets Briefing: STI down 0.32%

Staff Reporter - Submitted By:  Staff Reporter Case Study:  No Don't expect gains today. The Straits Times Index (STI) ended 9.82 or 0.32% lower at 3,068.15. The top active stocks were DBS, which fell 0.22%, Singtel, which dipped 0.05%, Genting Sing, which slipped 0.01%, UOB, which slid 0.17%, and OCB ...

6 hours ago

Trade war and censors blow chill wind through China's giant tech scene

Nisha Ramchandani - Wang Miaoyi's small one-bedroom apartment, which doubles as her design studio, is overflowing with game magazines, figurines and boxes of sci-fi novels.

6 hours ago

Golden Agri-Resources sinks into the red with US$53.92m Q3 loss

Tan Hwee Hwee - GOLDEN Agri-Resources slipped into the red for the third quarter despite an increase in revenue.

6 hours ago

CapitaLand-GIC JV acquires Shanghai’s tallest twin towers for $1.8b

Mars Woo - The 50-storey twin towers will become CapitaLand’s third Raffles City integrated development in Shanghai. The post CapitaLand-GIC JV acquires Shanghai’s tallest twin towers for $1.8b appeared first on DealStreetAsia.

7 hours ago

CapitaLand teams up with GIC to buy Shanghai’s tallest twin towers for 12.8b yuan

Tan Hwee Hwee - CAPITALAND, through an investment fund, is teaming up with GIC to acquire Shanghai’s tallest twin towers for 12.8 billion (about S$2.54 billion).

7 hours ago

Golden Agri reverses into the red in 3Q and 9M on weaker palm oil prices

PC Lee - SINGAPORE (Nov 13): Golden Agri-Resources reversed into the red in 3Q18 and 9M18 ended Sept with losses of US$53.9 million ($74.6 million) and US$81.1 million respectively on weaker palm oil prices. Revenue in 3Q18 rose 3.2% to US$1.8 billion but as cost of sales grew 4.7% to US$1.6 billion, gross ...

8 hours ago

CapitaLand's RCCIP III fund in JV with GIC to acquire Shanghai's tallest twin towers for $2.54 bil

Samantha Chiew - SINGAPORE (Nov 13): CapitaLand announced that its third integrated development private investment vehicle in China, Raffles City China Investment Partners III (RCCIP III), has formed a 50:50 joint venture (JV) with Singapore’s sovereign wealth fund GIC to acquire Shanghai’s tallest twin towers ...

8 hours ago

Chart of the Day: CBD Grade A space market could remain constrained until 2021

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No Only one office building is expected to be completed in Q4. This chart from Colliers International shows that CBD Grade A vacancy was flat in Q3 as it rose only by 0.1ppt QoQ to 5.6%. The firm believes that CBD Grade A supply pipeline will ta ...

8 hours ago

Retail sales up 1.9% to $3.6b in September

Staff Reporter - Submitted By:  Arianna Danganan Case Study:  No Petrol service stations recorded the highest sales increase at 11.4% due to higher petrol prices. Retail sales reversed their mild slowdown in August after inching up 1.9% YoY to $3.6b in September, the Department of Statistics (SingStat) re ...

8 hours ago

SGX RegCo proposes delisting rule changes to boost minority shareholders

Staff Reporter - Submitted By:  Arianna Danganan Case Study:  No Parties linked to the delisting offer may soon be banned from voting. Singapore Exchange Regulation (SGX RegCo) is consulting the market on rule changes to voluntary delisting resolution and exit offer in a bid to better protect the interest ...

8 hours ago

Singapore Business Review bags Business/Professional Media of the Year Award at the MPAS Awards 2018

Staff Reporter - Submitted By:  Staff Reporter Case Study:  No Its sister publication Asian Banking & Finance landed the gold award for the business/professional media of the year in the Asia Pacific Publishing Awards. Singapore Business Review clinched the Gold award for the Business/Professional Med ...

8 hours ago

OUE Q3 profits crashed 80.7% to $2.07m

Staff Reporter - Submitted By:  Danielle Isaac Case Study:  No It blamed non-cash marked-to-market fair value loss of investments. OUE’s profits for the third quarter of 2018 suffered an 80.7% crash to $2.07m from $10.74m in the same period in 2017. Revenue was barely up by 0.8% to $183.32m from $18 ...

8 hours ago

Wall Street dives into the red, losses sparked by Apple fears

Nisha Ramchandani - WASHINGTON: US stocks crumbled on Monday (Nov 12), with a sell-off initially sparked by fears of weakening demand for Apple's iPhone spreading to the rest of the market. The losses compounded declines from the end of the prior week, when fears for global economic growth and inflationary pressures . ...

8 hours ago

TODAY's morning brief for Tuesday, Nov 13

youjin.low - 1 hour 19 min ago