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Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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Jho Low 'jumping from place to place', says Mahathir, expressing hope he will be arrested

[KUALA LUMPUR] Malaysia's Prime Minister Mahathir Mohamad said on Thurday (July 19) said he had no information on whether fugitive businessman Low Taek Jho, also known as Jho Low, had been detained in China.

Director fined record S$57,000 for breaching Companies Act

A COMPANY director was on Tuesday fined a record S$57,000 for various breaches of the Companies Act, prompting the authorities to step up regulatory actions against persistent offenders.

Director fined record S$57,000 for breaching Companies Act; Acra to list disqualified individuals on public register

A COMPANY director was on Tuesday fined a record S$57,000 for various breaches of the Companies Act, prompting the authorities to step up regulatory actions against persistent offenders.

Malaysian who threatened to kill King among seven suspected militants arrested in four-state swoop

[KUALA LUMPUR] Seven suspected Islamic State in Iraq and Syria (IS) militants, including a Malaysian who threatened to kill the Malaysian king and top leaders, were detained following a four-state swoop, said police.

UOB invests and partners in AI firm Personetics

Jamie Lee - UOB on Thursday said it has invested and partnered with Israeli fintech firm Personetics to boost its use of artificial intelligence (AI) across its markets in South-east Asia.

Bank of Singapore announces new strategic hires for Hong Kong management team

Michelle Zhu - SINGAPORE (July 19): Bank of Singapore (BoS) has expanded its Hong Kong branch management team with the appointment of three industry veterans as market heads and head of risk. Main image, clockwise from far left: Head of Operations, IT & Finance, Cindy Wong; Head of Product Management Group, ...

Asia: Stocks mostly gain despite trade war fears

[HONG KONG] Asian markets largely advanced on Thursday, with investor confidence rising as the US Federal Reserve chief offered an upbeat assessment of the economy despite concerns about a global trade war.

Rosmah may have to fork out S$20m for undeclared jewellery if Malaysia Customs seizes it

[PETALING JAYA] Rosmah Mansor will have to fork out RM60 million (S$20.2 million) for the consignment of jewellery from a Lebanese firm if the Customs Department decides to seize it.

Director hit with record S$57,000 fine for offences under Companies Act

Michelle Quah - SINGAPORE: Company director Lawrence Fong Kok Liong has been fined a record S$57,000 for 38 charges, the Accounting and Corporate Regulatory Authority (ACRA) said in a media release on Thursday (Jul 19). Fong pleaded guilty to the charges for offences under section 175 and 197 of the Companies Act . ...

Property curbs will only hit banks hard by 2019

Staff Reporter - Submitted By: Sandra Sendingan Case Study: No Lenders have one more year of relief amidst previous approvals they drew down. The earlier measures announced by the government to rein in Singapore’s runaway home prices will only impact banks by 2019 as their property portfolios are ...

ComfortDelGro may buy more fully electric vehicles if two-car trial pays off

Annabeth Leow - COMFORTDELGRO's taxi unit has started testing the first fully electric cabs in its fleet, the transport operator said on Thursday.

ComfortDelGro rolls out its first fully electric taxis

Annabeth Leow - COMFORTDELGRO's taxi unit has started testing the first fully electric cabs in its fleet, the transport operator said on Thursday.

Xi's campaign to draw people back to greying rural China faces uphill battle

[SHUANGFENG COUNTY] Liu Deke, 73, puffed away on a roll-up as he threshed stalks of dried rapeseed on a large canvas sheet. Nearby, plumes of billowy smoke from burning stalks drifted across the rice fields.

Billionaire James Packer quits 22 boards, deepens corporate withdrawal

[SYDNEY] Billionaire James Packer has resigned 22 Australian company directorships in the last few weeks and no longer holds any board seat in his home country, corporate records show, signalling his almost full retreat from public business life.

This 'interesting' 2Q earnings season could be UOB's chance to shine: DBS

Michelle Zhu - SINGAPORE (July 19): DBS Vickers Securities expects an “interesting” 2Q18 earnings season with diverging trends across Singapore’s banks as they continue to spend on improving technology infrastructure, with some potential for slight upticks in personnel costs for salary revisions. While the r ...

China bike-sharing giant Ofo to close most US operations after less than a year: WSJ

[NEW YORK] Less than a year after Beijing-based Ofo Inc entered the United States with big ambitions, the world's largest bike-share company plans to shut down most of its US operations, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Growth for BreadTalk to accelerate: RHB

Samantha Chiew - SINGAPORE (July 19): RHB is reiterating its “neutral” recommendation on BreadTalk with an increased target price of $1.04. This came following the research house having a conversation with BreadTalk, which led to RHB expecting earnings growth for the group to accelerate in FY19-20, as its new F& ...

Australia jobs jump in June, still plenty left to hire

[SYDNEY] Australian employment surged by the most this year in June as firms took on more full-time workers, yet the jobless rate held steady as more people entered the labour force in a trend that has curbed much-needed wage gains.

Co-living startup Hmlet moves into Hong Kong with acquisition of we r urban

Wong Kai Yi - SINGAPORE-based co-living startup Hmlet has acquired we r urban, marking its expansion into the Hong Kong market.

Asian shares higher on US earnings but trade worries rattle offshore yuan

Michelle Quah - Asian shares made early gains on Thursday as upbeat Wall Street earnings supported global investor sentiment, although trade war jitters pushed China's offshore yuan to a fresh one-year low.

Singapore’s future is good, not great, economists estimate

alfredchuam - 32 min 34 sec agoSINGAPORE — Good, not great: That is increasingly the economists’ take on Singapore’s

Wheelock unit launches offer for Singapore subsidiary

Michelle Quah - SINGAPORE: A unit of Hong Kong-based developer Wheelock and Co said on Thursday (Jul 19) it had launched an offer for all the shares of Singapore-listed subsidiary Wheelock Properties Singapore at S$2.10 each. Star Attraction, a wholly owned indirect subsidiary of Wheelock and Co, said the ...

Hong Kong: Shares rise at open on Thursday

[HONG KONG] Hong Kong stocks opened higher on Thursday, following a largely positive lead on Wall Street as the US Federal Reserve chief offered an upbeat assessment of the economy.

Japan trade balance returns to surplus after dip

Michelle Quah - Japan logged a trade surplus in June, after booking a deficit the previous month, official data showed Thursday, with exports rising despite ongoing international trade tensions.

Tat Hong to delist on Friday morning after successful buyout

Annabeth Leow - TAT Hong Holdings will be delisted on Friday at 9am, completing a takeover bid involving the chief executive, the board announced on Thursday morning.

FBI chief reiterates: Russia meddled, whatever Putin & Trump say

[WASHINGTON] FBI director Christopher Wray said on Wednesday that the US intelligence community stands by its view that Russia interfered in the 2016 US election, despite Vladimir Putin's denial this week to President Donald Trump.

Malaysia shares open higher on Thursday

MALAYSIA share prices opened higher on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 3.360 points to 1,756.67 at 9.05am.

Singapore shares open higher on Thursday; STI up 0.4% to 3,252.57

Wong Kai Yi - SINGAPORE stocks opened 0.4 per cent higher on Thursday on the back of a strong earnings season in the US, with the Straits Times Index advancing 12.07 points to 3,252.57 as at 9.05am.

Japan's trade minister suggests tougher line on any auto tariffs

[TOKYO] If the US imposes tariffs on cars it can expect a stronger response from Japan than when it slapped levies on steel and aluminum shipments.

Mirach Energy to pay RM21m for 70% stake in Malaysian plantation company

Annabeth Leow - MIRACH Energy has taken another step in its planned diversification, inking a conditional agreement to buy a majority stake in Malaysian plantation company RCL Kelstar Sdn Bhd for 21 million Malaysian ringgit (S$7.07 million).

Investment firms fight to inject cash in Brazil carrier Oi

Michelle Quah - Three distressed asset funds have sued for the right to participate in a 4 billion reais (US$1 billion) capital increase for Brazilian telecom Oi SA as part of its in-court restructuring, four sources with knowledge of the matter told Reuters this week.

Saudi Aramco mulls stake in world's number 4 chemical firm: sources

Michelle Quah - Saudi Aramco has invited banks to pitch for an advisory role on the potential acquisition of a strategic stake in Saudi Basic Industries Corp (SABIC) , two sources with direct knowledge of the matter told Reuters.

Exclusive: Singapore’s Qualgro seeks $100m for second fund

Joji Thomas Philip - The venture capital firm is set to hit the first close of its second vehicle within the next two months. The post Exclusive: Singapore’s Qualgro seeks $100m for second fund appeared first on DealStreetAsia.

Tokyo: Stocks open higher after US gains

IFC mulls investing in Jungle Ventures’ $150m third fund

Mars Woo - IFC is considering an investment of up to $5 million in the VC firm's third fund. The post IFC mulls investing in Jungle Ventures’ $150m third fund appeared first on DealStreetAsia.

Stocks to watch: Wheelock Properties, Capitaland Commercial Trust, United Overseas Insurance, Keppel T&T

Wong Kai Yi - THE following companies saw new developments which may affect trading of their shares on Thursday:

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