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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16 hours ago
Carrefour turns to Fnac Darty again for new finance chief
New Carrefour boss Alexandre Bompard has turned to a former colleague from Fnac Darty to be his finance chief as he strives to revive the world's second-biggest retailer.
16 hours ago
Trendlines Medical makes maiden investment in medical device startup
Michelle Zhu - SINGAPORE (Oct 16): Trendlines Medical Singapore, a 76.43%-owned subsidiary of Catalist-listed Israeli company The Trendlines Group, has made its first investment by committing a total of US$60,000 ($81,150) to a medical device start-up, InterVaal. InterVaal is developing a urological catheter to ad ...
16 hours ago
Malaysian shares close flat
MALAYSIAN stocks closed slightly lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 0.95 point to 1,754.37.
16 hours ago
Yeo Hiap Seng sells Shanghai subsidiary for $16.7 mil
Stanislaus Jude Chan - SINGAPORE (Oct 16): Yeo Hiap Seng on Monday announced the disposal of its entire equity interest in Yeo Hiap Seng (Shanghai) Co. for a total of $16.7 million in cash. Following the disposal, which was completed on Oct 13, YHS Shanghai has ceased to be a wholly-owned subsidiary of the company. Yeo Hi ...
16 hours ago
Private home sales see 29% year-on-year increase in September
SINGAPORE: A total of 657 private home units - excluding executive condominiums (ECs) - were sold last month, according to the latest figures from the Urban Redevelopment Authority (URA) on Monday (Oct 16). The figure is a 29 per cent year-on-year increase, up from the 509 units sold in the same .. ...
17 hours ago
Has the telco price war started even before TPG's entry?
Stanislaus Jude Chan - SINGAPORE (Oct 16): DBS Group Research says M1 is taking a leaf out of Circles.Life’s playbook and undercutting the efforts of Singtel and StarHub to stabilise average revenue per user (ARPU) – even before the entry of fourth mobile operator TPG Telecom. “While the market is concerned about TP ...
17 hours ago
Hong Kong: Shares track Asia markets to end near 10-year peak
[HONG KONG] Hong Kong stocks rose to near 10-year highs on Monday, joining a rally in Asian markets and boosted by a surprisingly rosy growth forecast for the world's second-biggest economy.
17 hours ago
Li's HK tower sells for record HK$40.2 billion
[HONG KONG] Li Ka-Shing's CK Asset Holdings Ltd. sold its 75 percent holding in The Center to a Chinese-led group for HK$40.2 billion (S$6.98 billion), a record for a Hong Kong office tower, the Hong Kong Economic Journal reported.
17 hours ago
M1’s biggest selling point is now its drawback
PC Lee - SINGAPORE (Oct 16): DBS Group Research is maintaining M1 at “fully valued” with a target price of $1.49 given lower dividends on earnings decline as revenues come under pressure and costs escalate. Dividend yield has been the most critical factor for M1’s stock price in the past. However, with ...
17 hours ago
China becoming top foreign market for Thai property developer
[BANGKOK] Sansiri Pcl, one of Thailand's largest property developers by sales, sees China becoming its biggest foreign revenue source as early as this year, the latest sign that the world's largest property-buying binge is undimmed by China's tighter capital controls.
18 hours ago
Europe: Stocks up as commodities surge; euro weakens
[SYDNEY] Stocks in Europe nudged higher, led by miners as gains in oil and copper drove commodity prices to a six-month high. The euro weakened and Spanish stocks fell after Catalonia's leader defended the region's claim to independence from Spain.
18 hours ago
Three new precincts to showcase future neighbourhood designs: Lawrence Wong
Wong Kai Yi - SINGAPORE will develop three new residential precincts in Kampong Bugis, Holland Plain and Bayshore over the next seven years under a new concept that emphasises connectivity, greenery and community, Minister for National Development Lawrence Wong said on Monday.
18 hours ago
AirAsia Japan to relaunch later this month
SINGAPORE: Low-cost airline AirAsia Japan on Monday (Oct 16) said it would begin its first flights from Nagoya later this month, more than two years after Malaysia's AirAsia Bhd announced plans to re-enter the Japanese market with new partners. A prior AirAsia Japan, a joint venture with Japanese .. ...
18 hours ago
Expensive valuation and declining subscribers keep StarHub 'fully valued'
Samantha Chiew - SINGAPORE (Oct 16): DBS is reiterating StarHub at “fully valued” with a target price of $2.20, on falling subscribers and expensive valuation despite a decent dividend yield. In a Monday report, analyst Sachin Mittal says, “The number of households subscribing to all three services – pay TV, ...
18 hours ago
Quick takes: Hungry Ghost busts euphoria, but it's no phantom demand either
Jamie Lee - SINGAPORE developers sold 657 private homes in September 2017 - down from 1,246 units in August 2017, on the back of a pullback in new launches amid the Hungry Ghosts Festival. However, the September 2017 figure is higher than the 509 units developers moved in September 2016.
18 hours ago
Vietnam state investor to sell 3.33% of Vinamilk on Nov 10
Reuters - HANOI (Oct 16): Vietnam’s state investor on Monday said it plans to sell 3.33% of Vietnam Dairy Products JSC (Vinamilk) on Nov 10, without the restrictions that applied to a similar sale last year when only a portion of the offering sold. Vinamilk, Vietnam’s biggest listed firm by market value, ...
18 hours ago
Ex-South Korea leader's defence lawyers quit over alleged bias
[SEOUL] Former South Korean president Park Geun-hye's defence lawyers resigned en masse on Monday in protest at what they called a biased corruption trial, as the ex-leader described the proceedings as "political revenge".
18 hours ago
Keppel Data Centres investment fund smashes US$500m target
Staff Reporter - Submitted By:  Danielle Isaac Case Study:  No It scored an allocation of US$350m with an option to add US$150m. Keppel Data Centres Holdings Pte. Ltd. (Keppel Data Centres) bagged an initial allocation of US$350m with an option to invest another US$150m from Canada Pension Plan Investment ...
18 hours ago
Rise of inflation and unemployment in Malaysia as minimum wage increases
Samantha Chiew - SINGAPORE (Oct 16): A new minimum wage in Malaysia will be announced next year, says Human Resources Minister Datuk Seri Dr Richard Riot Jaem. The main reason for this increase is to close the gap between the rate in Peninsular Malaysia and Sabah/Sarawak in East Malaysia. The minimum wage was last r ...
18 hours ago
A fifth of SMEs sees disruptive technology as top business challenge: poll
Jamie Lee - A FRESH survey from a prominent business chamber on Monday showed that challenges from disruptive technology was a top business challenge for over 20 per cent of respondents.
18 hours ago
Seoul: Stocks track global gains to new high; won at 4-week peak
[SEOUL] South Korean shares edged up to hit a record high on Monday on a rally in steel and cosmetics stocks, though further gains were capped by a foreign selloff in major tech firms following a recent run-up in the sector.
19 hours ago
MAS could tighten policy stance soon
Staff Reporter - Submitted By:  Danielle Isaac Case Study:  No For now, prices aren’t expected to rise due to domestic cost pressures. The Monetary Authority of Singapore (MAS) left the current policy of a zero appreciation of the SGD nominal effective exchange rate (NEER) unchanged. According to UO ...
19 hours ago
Here’s why CSE Global could be on the road to recovery
Stanislaus Jude Chan - SINGAPORE (Oct 16): NRA Capital says CSE Global has caught its attention as a company that may have bottomed, and could see considerable upside ahead from its current share price. “CSE offers the merits of stabilizing to recovering earnings, strong balance sheet with net cash, high dividend yield ...
19 hours ago
Carrefour names FNAC Darty's Malige as new finance chief
[PARIS] Carrefour named Matthieu Malige as finance director on Monday, two months after the world's second-biggest supermarket retailer behind Walmart warned on its 2017 operating profit.
19 hours ago
Singapore home sales drop as 'Hungry Ghost Month' deters buyers
Bloomberg - SINGAPORE (Oct 16): Singapore home sales fell in September as developers marketed fewer projects in a month considered inauspicious by Chinese homebuyers. Developers sold 657 units last month, down from a revised 1,246 in August, according to Urban Redevelopment Authority data released Monday. That ...
19 hours ago
Circles.Life pitches for new customers with 20GB data giveaway till Dec 31
Today - SINGAPORE - Mobile virtual network operator Circles.Life has made its latest move to court subscribers from the three local telcos by giving away 20GB of data, 100 minutes of talk time and 20 SMSes every month until Dec 31. Existing customers of Singtel,...
19 hours ago
Asian shares conquer 10-year peak, commodities ride high on China
SYDNEY: Asian shares rallied to a decade high on Monday as upbeat Chinese data boosted commodity prices, while the euro extended losses after the Catalan leader failed to give a clear answer to whether or not he declared independence from Spain. MSCI's broadest index of Asia-Pacific shares outside . ...
19 hours ago
Tokyo: Stocks end at fresh two-decade high
[TOKYO] Tokyo's benchmark stock index hit another fresh 21-year high on Monday as market sentiment remained solid on upbeat Japanese corporate earnings.
19 hours ago
Fullerton Fund Management names ex-Amundi chief Jenny Sofian as CEO
Wong Kai Yi - TEMASEK Holdings subsidiary Fullerton Fund Management has appointed Jenny Sofian as its next CEO with effect from Nov 1, 2017, replacing Ho Tian Yee who is Fullerton's interim CEO.
19 hours ago
Carrefour appoints FNAC Darty's Malige as new CFO
Today - PARIS - Carrefour named Matthieu Malige as finance director on Monday, two months after the world's second-biggest supermarket retailer behind Wal-Mart warned on its 2017 operating profit. Malige, previously in...
19 hours ago
China's Sogou needs to prioritise profit search ahead of IPO: Gadfly
[TAIPEI] Slowing revenue and falling profit don't seem like great conditions under which to pursue an initial public offering (IPO). They certainly wouldn't lend themselves to hopes of a valuation 50-times-earnings valuation.
19 hours ago
Hong Kong rule of law under threat, say top global lawyers
[HONG KONG] The jailing of three Hong Kong democracy activists this year is a serious threat to the city's rule of law, a group of senior international lawyers said on Monday, adding the independence of the judiciary risks becoming a "charade".
19 hours ago
Australia: Shares end at 5-month high aided by material stocks; NZ flat
[BENGALURU] Australian shares climbed on Monday, to finish at their highest in five months, on the back of strong base metal prices that led material stocks higher.
20 hours ago
Brokers' take: DBS cuts M1, StarHub target prices ahead of results
Kenneth Lim - M1's and StarHub's respective counters are "fully valued" as the success of new rivals weighs on growth while high capital expenditures limit their dividend outlook, broker DBS said in reports on the two telcos on Monday.
20 hours ago
Brokers' take: DBS cuts M1 target to S$1.49 ahead of results; cites new rivals, capex
Kenneth Lim - MOBILE operator M1's stock is "fully valued" as the success of new rivals weighs on growth while high capital expenditures limit its dividend outlook, broker DBS said in a report on Monday.
20 hours ago
Gold eases on firm dollar, stronger equities
[BENGALURU] Gold slipped on Monday on a firmer dollar and stronger Asian equities, but stayed above the key psychological level of US$1,300.