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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6 hours ago

Sembcorp CFO returns to New Zealand; no replacement named

Annabeth Leow - SEMBCORP Industries chief financial officer Graham Cockroft is quitting after two years to return to New Zealand, the mainboard-listed conglomerate said on Friday.

6 hours ago

Ascott Residence Trust says FY2020 DPU expected to reduce by 60-70% from 7.61 cents in 2019

Felicia Tan - Ascott Residence Trust (ART) has guided, on Jan 15, that its distribution per stapled security (DPU) is expected to reduce by 60-70% from the 7.61 cents recorded for FY2019 ended December. ART’s income available for distribution, similarly, is expected to decline by 40-50% from the $165.5 million ...

6 hours ago

Ascott Residence Trust warns of 60-70% fall in FY2020 DPS on pandemic impact

Annabeth Leow - ASCOTT Residence Trust (ART) expects to cut distribution per stapled security (DPS) by between 60 per cent and 70 per cent in FY2020, the managers warned on Friday.

6 hours ago

Japanese PE firm Advantage Partners invests in drug distributor Pharmaforte

Yimie Yong - The investment was routed through Advantage Partners Asia Fund and affiliated entities. The post Japanese PE firm Advantage Partners invests in drug distributor Pharmaforte appeared first on DealStreetAsia.

6 hours ago

China bans banks from selling deposit products on third-party Internet platforms

Anita Gabriel - BEIJING: China's banking and insurance regulator on Friday (Jan 15) banned commercial banks from using third-party Internet platforms to sell deposit products, including those relating to fixed-term deposits. The move is designed to avoid spillover financial risks brought by the rapid development . ...

6 hours ago

Sembcorp Industries' group chief financial officer to step down

Felicia Tan - Sembcorp Industries, announced, on Jan 15, that its group chief financial officer Graham Cockroft will step down, effective Feb 28. Cockroft will return home to New Zealand following his resignation. Ang Kong Hua, Chairman of Sembcorp says, “On behalf of the board, I would like to express our appr ...

6 hours ago

Q&M unit to sell off stake in Chinese company; floats possible special dividend from part of S$17m proceeds

Annabeth Leow - MAINBOARD-LISTED dental clinic operator Q&M Dental Group (Singapore) is selling off its remaining stake in a Chinese dental equipment maker.

6 hours ago

Despite recession, Singapore’s property market surprises again with stellar new private home sales in December

gordon.feeney -

6 hours ago

Developers seen to continue private housing launch momentum in 2021

Kalpana Rashiwala - AFTER topping their 2019 sales performance last year despite the pandemic-induced recession, developers are poised to continue their new project launch momentum this year.

6 hours ago

SAP sees flat 2021 revenue after fourth-quarter beat

Business software group SAP forecast flat revenue and a decline in operating profit in 2021, as it released preliminary annual results that came at the high end of guidance slashed last autumn.

6 hours ago

Investors push for social media controls ahead of US inauguration

Claudia Tan - Pension fund managers and religious investors on Friday asked top social media companies to step up their content control efforts to reduce the threat of violence ahead of the inauguration of U.S. President-elect Joe Biden next week.

6 hours ago

German court halts criminal proceedings against former VW CEO

Claudia Tan - A German court in Braunschweig, Germany, said on Friday it had halted criminal proceedings against former Volkswagen CEO Martin Winterkorn for alleged market manipulation as part of the carmaker's emissions scandal.

7 hours ago

Singapore's GIC, three others invest US$720 million in software firm ThoughtWorks

Annabeth Leow - SINGAPORE sovereign investor GIC and Abu Dhabi's Mubadala are two new investors in global software consultancy ThoughtWorks, the target company said on Friday.

7 hours ago

Ocean Tankers fails to strike out PetroChina's writs against vessels

Tay Peck Gek - THE judicial managers of Ocean Tankers have failed to set aside or strike out the writs filed by PetroChina International (Singapore) over cargo claims against four vessels chartered by the beleaguered oil shipper.

7 hours ago

Ocean Tankers fails to dismiss PetroChina's writs against vessels

Tay Peck Gek - THE judicial managers of Ocean Tankers have failed to set aside or strike out the writs filed by PetroChina International (Singapore) over cargo claims against four vessels chartered by the beleaguered oil shipper.

7 hours ago

Plant-based food innovation centre run by 2 Swiss companies to open in Singapore in April

Claudia Tan - SINGAPORE: Food manufacturers, start-ups and researchers looking to develop and test plant-based food products can turn to a new facility in Woodlands which will open in April. The facility is jointly set up by Swiss companies Buhler, which is a factory equipment manufacturer, and flavour and ...

7 hours ago

Biden unveils plan to pump US$1.9 trillion into pandemic-hit economy

WILMINGTON, Del.: President-elect Joe Biden outlined a US$1.9 trillion stimulus package proposal on Thursday, saying bold investment was needed to jump-start the economy and accelerate the distribution of vaccines to bring the coronavirus under control. Biden campaigned last year on a promise ...

7 hours ago

SIIC Environment changes CEO on 're-designation of work' at the top

Annabeth Leow - MAINBOARD-LISTED SIIC Environment Holdings has changed its chief executive officer "due to re-designation of work", the board announced on Friday.

7 hours ago

Q&M Dental to dispose remaining 12.2% stake in Aidite Qinhuangdao for RMB122.5 mil

Felicia Tan - Q&M Aidite International (QMAI), the subsidiary of Q&M Dental, has entered into a share purchase agreement with Aidite (Qinhuangdao) Technology (Aidite Qinhuangdao) and its shareholders to sell its remaining 12.246% stake in Aidite Qinhuangdao. As at Jan 15, Aidite Qinhuangdao’s shareholde ...

7 hours ago

Vallianz tells bourse disclosure delay due to back-and-forth with listing sponsor

Annabeth Leow - OFFSHORE support vessel company Vallianz Holdings took more than a week to disclose the sale of its subsidiary as it was corresponding with its listing sponsor.

7 hours ago

Analysis: Wall Street cheers on Biden stimulus plan but worries about the cost

A proposed US$1.9 trillion coronavirus relief stimulus package from President-elect Joe Biden may prove a double-edged sword for investors, sustaining optimism for further economic revival while raising worries over how the United States will pay for it all.

7 hours ago

SIIC appoints Yang Jianwei as new CEO; outgoing CEO Xu to be re-designated

Felicia Tan - SIIC Environment Holdings has announced the appointed of Yang Jianwei as its new CEO on Jan 15. Yang, who is also the executive director, chairman of the executive committee and member of the risk and investment management committee, will manage the company’s strategy, business, operation, adminis ...

7 hours ago

Haw Par Corporation declines to comment on Underwater World Singapore's litigation

Felicia Tan - Underwater World, a wholly-owned subsidiary of Haw Par Corporation, has pleaded guilty to a charge under Section 12(1) of the Workplace Safety and Health Act (Chapter 354A). The now-defunct oceanarium, on Jan 14, admitted to safety lapses, which came to the fore, after one of its veteran divers, Phi ...

7 hours ago

'A clear and final no': French minister opposes US$20 billion Canadian offer for Carrefour

Vivienne Tay - Finance Minister Bruno Le Maire strongly reaffirmed France's opposition to French retailer Carrefour possibly being taken over by Canada's Alimentation Couche-Tard on Friday, sending Carrefour's shares down 4.5per cent.

8 hours ago

People Digest: Next Billion Ventures names SE Asia partner; PJT appoints MD for APAC

Quynh Nguyen - NBV's portfolio in SE Asia includes Propzy (Vietnam), Advance & Sprout (the Philippines), and GajiGesa (Indonesia). The post People Digest: Next Billion Ventures names SE Asia partner; PJT appoints MD for APAC appeared first on DealStreetAsia.

8 hours ago

Singapore shares up for third straight session, STI gains 0.16%

Claudia Tan - SINGAPORE shares ended the week in positive territory, marking its third straight session of gains.

8 hours ago

Caused by heavy rain, spate of potholes detected in first half of January double 2020’s monthly average: LTA

gordon.feeney -

8 hours ago

Virgin Atlantic completes US$230 million sale and leaseback of two Boeing 787s

Vivienne Tay - British airline Virgin Atlantic said on Friday it had completed the sale and leaseback of two Boeing 787s as part of a plan to strengthen its balance sheet.

8 hours ago

Broker's take: OCBC turns positive on aviation, maintains 'sell' on SIA

Yong Hui Ting - OCBC Investment Research has turned more positive on the aviation sector given recent progress on Covid-19 vaccines and easing travel restrictions. The research house now expects the sector to recover gradually in 2021.

9 hours ago

French 'no' to Canada's Couche-Tard regarding Carrefour is 'final': minister

Lee Meixian - Finance Minister Bruno Le Maire strongly reaffirmed France's opposition to French retailer Carrefour possibly being taken over by Canada's Alimentation Couche-Tard on Friday, sending Carrefour's shares down 4.5per cent.

9 hours ago

Naturgy to invest up to US$1.8 billion in US after US$57 million acquisition

Lee Meixian - Spanish power company Naturgy plans to invest up to US$1.8 billion in the United States after making its first push into the U.S. renewable market with the US$57 million acquisition of a solar energy developer, the company said on Friday.

10 hours ago

China says firmly opposes new US sanctions

Lee Meixian - China firmly opposes new sanctions by the United States on its officials and companies over accusations of misdeeds in the disputed South China Sea, as well as an investment ban on nine more of its firms, the foreign ministry said on Friday.

10 hours ago

Proxy restrictions at en bloc sales meetings to take effect from Jan 18: MinLaw

Vivienne Tay - STARTING Jan 18, 2021, amendments to the Second Schedule of the Land Titles (Strata) Act (LTSA) to restrict the number of owners a proxy can represent at general meetings for en bloc sales will come into force.

10 hours ago

Carrefour staff worried about Couche-Tard approach, union says

A takeover approach for Carrefour by Canada's Alimentation Couche-Tard is raising concerns over jobs and the future management of the French retailer among staff, a Carrefour CFDT union representative said on Friday.

10 hours ago

Is Sea Group's peak growth over, asks DBS

Amala Balakrishner - DBS Group Research has downgraded its call on technology firm Sea Group from “buy” to “hold”, at a revised target price of US$233 ($308.97). This is up US$5 or 2.2% from its previous US$228 call, analyst Sachin Mittal says in a Jan 14 note. Explaining how the target price was arrived at, Mit ...

10 hours ago

iFast responds to SGX query, cites contract bids, news and industry reports

Michelle Zhu - IFAST has responded to the Singapore Exchange's (SGX) earlier query on its share price movements, saying it has participated in the bidding of projects, including "certain ones in Hong Kong" which may have a material positive impact on its business should they prove successful.