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Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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Willas-Array expects to record net profit of HK$36.9 mil for 3Q21

Felicia Tan - Willas-Array Electronics (Holdings) says it expects to record a consolidated net profit of HK$36.9 million ($6.3 million) for the 3QFY2021 ended December. The figures were based on the board’s preliminary assessment of the unaudited consolidated management accounts of the group. The net profit com ...

Medtecs International exploring Covid-19 test-kit tie-up for Philippine market

Annabeth Leow - CATALIST-LISTED medical equipment supplier Medtecs International Corp will distribute a Taiwanese biologics firm's Covid-19 rapid tests in the Philippines, under a letter of intent signed and disclosed by the board on Thursday.

SLB Development posts 0.9% higher earnings of $5.5 mil for 1H21 despite lower revenue

Felicia Tan - SLB Development, the property development subsidiary of construction firm Lian Beng Group, has posted earnings of $5.54 million for the 1HFY2021 ended November, registering a marginal 0.9% increase compared to earnings of $5.49 million a year ago. This translates to earnings per share (EPS) of 0.61 ...

Man found guilty of offering S$100 bribe to stop LTA enforcement officer from seizing oBike

gordon.feeney -

Ex-national swimmer, conservation scientist among 9 new NMPs

Oceanus to change presentation currency to SGD, to cease quarterly reporting of financial statements

Felicia Tan - Oceanus Group will change its presentation currency from Chinese renminbi (RMB) to Singapore dollars (SGD) moving forward. As such, the company’s statements for the year ended Dec 31, 2020, will reflect this change. Oceanus will also be no longer required to announce its financial statements on a ...

Singapore stocks extend gains, STI up 0.76% to hit 3,000

Claudia Tan - SINGAPORE's benchmark Straits Times Index (STI) touched 3,000 points on Thursday for the first time since March last year, gaining 0.76 per cent or 22.49 points.

Medtecs signs letter of intent with Enimmune to market and promote Enimmune's 'Speedy Covid-19 Ag Rapid Test'

Felicia Tan - Medtecs International, on Jan 14, signed a letter of intent (LOI) with Enimmune Corporation, where both companies seek to leverage on each other’s strengths to explore opportunities to market and promote Enimmune’s “Speedy Covid-19 Ag Rapid Test” in the Philippines. Enimmune is a joint ventu ...

LTA awards civil works contract for Downtown Line's new Hume MRT station

Google removes lending apps in India to protect users

Yong Hui Ting - Alphabet Inc's Google has removed lending apps in India from Play Store - where the vast majority of Indians download phone apps in an attempt to safeguard users, it said in a blog post on Thursday.

Hong Kong emigration to Britain could mean US$36 billion capital outflow: Report

Yong Hui Ting - HONG KONG: Hong Kong residents leaving the city to move to Britain could trigger capital outflows of HK$280 billion (US$36 billion) this year from the Asian financial centre, a new report published by Bank of America (BofA) said. Beijing's move to impose a national security law in June last year ...

Grab raises US$300 million for fintech arm's ambitious expansion

Yong Hui Ting - Southeast Asian ride-hailing and food delivery giant Grab has raised more than US$300 million from investors led by South Korea's Hanwha Asset Management Co Ltd for its rapidly-expanding financial services business.

Takeover price for Sunningdale Tech at S$1.55 is 'too low': Quarz Capital

Claudia Tan - QUARZ Capital Management said in a statement on Thursday that the proposed takeover price for Sunningdale Tech at S$1.55 per share is "too low" and "significantly undervalues" the precision plastic components manufacturer. The activist investor is therefore appealing for Sunning ...

Parler CEO says social media app, favoured by Trump supporters, may not return

HENDERSON, Nevada: Social media platform Parler, which has gone dark after being cut off by major service providers that accused the app of failing to police violent content, may never get back online, said its CEO John Matze. As a procession of business vendors severed ties with the two-year-old .. ...

RHB keeps 'buy' on ARA LOGOS Logistics Trust due to 'brighter outlook ahead'

Felicia Tan - RHB Group Research analyst Vijay Natarajan has kept his “buy” recommendation on ARA LOGOS Logistics Trust as he sees a “brighter outlook ahead” for the trust. “ARA LOGOS Logistics Trusts’ portfolio of 27 strategically located logistics assets, across Singapore and Australia, stand to ben ...

AirAsia X shows court creditors' support for restructuring plan

Yong Hui Ting - KUALA LUMPUR: Most of AirAsia X's (AAX) lessors support a restructuring plan, and the Malaysian airline has received interest from potential investors for fundraising after reorganisation, court documents filed this month show. In emails attached to the court filings, supportive lessors said they .. ...

MAS appoints new deputy managing director

Rachel Mui - THE Monetary Authority of Singapore (MAS) on Thursday announced the appointment of Leong Sing Chiong as deputy managing director (Markets & Development).

New Renault boss outlines leaner, hi-tech future

French carmaker Renault pledged more cost cuts and to focus on a smaller number of profitable models as its new boss laid out plans to revive a business hammered by management turmoil and the COVID-19 crisis.

Adecco sees uncertain prospects for permanent white-collar jobs in 2021

Annabeth Leow - Swiss recruitment company Adecco expects 2021 will be a tough year for permanent job hires across Europe, with employers still under pressure from the COVID-19 pandemic and as government support measures come to an end, a senior company executive told Reuters.

When to trade bitcoin? When Saturn crosses Mercury, of course

Bitcoin seems so flighty, some might argue you may as well consult a crystal ball, read the runes or stare at the stars to divine the direction of the capricious cryptocurrency.

Mapletree, Keppel Land to launch luxury waterfront project

Staff Reporter - Uploaded By: Paul Howell Submitted By: Staff Reporter Case Study: No It will comprise of over 400 exclusive units spread across 10 residential blocks. Mapletree Investments and Keppel Land are jointly developing a new luxury waterfront project, The Reef at King’s Dock, which ...

Singapore REIT sector raised $4.5b in secondary fundraisings in 2020

Staff Reporter - Uploaded By: Paul Howell Submitted By: Paul Howell Case Study: No The largest placement raised was by Ascendas REIT, at $800m. Trusts that represent the Singapore REIT sector raised $3b in placements, whilst five trusts raised a further $1.5b in rights issues for a total of 4.5b i ...

MAS appoints Leong Sing Chiong as new deputy managing director

Felicia Tan - The Monetary Authority of Singapore (MAS) has appointed Leong Sing Chiong as deputy managing director for markets and development. Leong’s appointment will take effect on Feb 1. Leong will oversee the markets and investment group, which conducts money market and foreign exchange operations, and is ...

Courts Singapore to open new flagship store at The Heeren in place of Robinsons

Michelle Zhu - COURTS Singapore on Thursday revealed plans to open a new flagship store spanning six storeys of The Heeren's retail podium formerly occupied by Robinsons.

China's Xi pens letter to Starbucks tycoon to promote trade

China's President Xi Jinping has asked former Starbucks chairman Howard Schultz to help promote trade between Washington and Beijing in a rare missive to a foreign business figure, state media reported Thursday.

Maybank Kim Eng ups Wilmar's TP to $6.80 due to 'potential surprises on the way'

Felicia Tan - Maybank Kim Eng analyst Thilan Wickramasinghe has maintained “buy” on Wilmar International with a higher target price of $6.80 from $5.40 previously. This, he says, is due to “potential surprises on the way” for the agribusiness group. To this, Wickramasinghe has identified four areas which ...

Zoom lunch? Walk in the park? Europe's recruiters adapt to Covid

Trudging through snow while interviewing someone is just another day at the office for Prague-based recruiter Blake Wittman who has embraced new tactics to gain an edge during a pandemic that has roiled Europe's hiring market.

Two in five Singapore workers have been sexually harassed at the workplace in last five years: Aware-Ipsos survey

Courts Singapore to open new flagship store at The Heeren

Felicia Tan - Courts Singapore, a wholly-owned subsidiary of Nojima Corporation, will be opening its new flagship store at The Heeren. The electrical, IT and furniture retailer will be replacing Robinsons Singapore, which closed its doors for good on Dec 16, 2020. See: Robinsons Singapore to close after 162 ...

45 new Covid-19 infections in Singapore, including 1 in the community; highest daily tally in 4 months

Road trials launched for driverless road-sweeping vehicles that produce zero emissions, less noise

Transport solutions for world changed by COVID-19 on display at Consumer Electronics Show

Annabeth Leow - WASHINGTON: The global pandemic has put the brakes on a number of mobility trends, prompting the transportation industry to rethink strategy. New options on display at the all-digital 2021 Consumer Electronics Show underscore the changes in mobility during the global health crisis, with more ...

Singapore Airlines secures $500m in US dollar debt debut

Scott Murdoch - The transaction was finalised early Thursday and the price was set at US treasuries plus 260 basis points. The post Singapore Airlines secures $500m in US dollar debt debut appeared first on DealStreetAsia.

PayPal becomes first foreign firm in China with full ownership of payments business

Annabeth Leow - PayPal Holding Inc has become the first foreign operator with 100per cent control of a payment platform in China, according to Chinese government data, as the U.S. fintech giant eyes a bigger foothold in a booming market for online payments.

Sembcorp Marine's Tan Cheng Tat reappointed as chief risk officer

Felicia Tan - Sembcorp Marine (SembMarine) has reappointed its chief financial officer, Tan Cheng Tat, as its chief risk officer on Jan 14. Tan will relinquish his former role as CFO, where he reported to William Goh Khor Boon, who heads SembMarine Group Finance as group finance director. Tan held the position of ...

Broker's take: Maybank KE raises TP for Wilmar on potential Q4 surprises

Yong Hui Ting - MAYBANK Kim Eng has raised its target price for Wilmar International to S$6.80 from S$5.40 previously, while identifying a number of potential upside surprises for the agri-business group ahead of its Q4 2020 results announcement.

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