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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23 hours ago
JTC puts up Tuas South Link 3 site for sale
Chai Hung Yin - JTC has launched a site at Tuas South Link 3 (Plot 18) - the fourth out of six confirmed list sites for the first half of 2017 - under the industrial government land sales programme, it said in a press release issued on Tuesday.
23 hours ago
Seoul: Won slips amid North Korea worries, stocks at 2-year high
[SEOUL] The South Korean won slipped early on Tuesday morning as worries over North Korea grew among investors after US President Donald Trump said the UN Security Council should be prepared to impose new sanctions on North Korea.
23 hours ago
AEM's Q1 profit surges to S$4.1m
Chai Hung Yin - MAINBOARD-LISTED AEM Holdings saw a 17-fold jump in its net profit from a year ago to S$4.1 million in the first quarter of 2017, the company said in a Singapore Exchange filing on Tuesday.
23 hours ago
Japan Post to record around 40b yen annual net loss
[TOKYO] Japan Post Holdings Co will book an annual loss of around 40 billion yen (S$507.3 million) on the back of a 400 billion yen impairment charge on its Australian logistics unit, Toll Holdings Ltd, Kyodo news agency reported on Tuesday.
23 hours ago
Singapore: SeedPlus reaches final close of first fund at $17.9m
Shiwen Yap - SeedPlus is a seed stage venture fund launched by Jungle Ventures. The post Singapore: SeedPlus reaches final close of first fund at $17.9m appeared first on DealStreetAsia.
24 hours ago
Taiwan: Stocks rise, taking cues from overseas markets
[TAIWAN] Taiwan stocks rose on Tuesday, mainly taking cues from overseas markets, but continued their choppy trading as investors await fresh economic data.
24 hours ago
China says fewer graft suspects fleeing as controls stepped up
[BEIJING] The number of corruption suspects fleeing China in the last four years has fallen dramatically as the government steps up controls on things like passport issuance for officials, the ruling Communist Party's anti-graft watchdog said on Tuesday.
24 hours ago
Mapletree Industrial Trust's net property income up 6.4% to $66m
Staff Reporter - Submitted By:  Gerv Tacadena Case Study:  No Thanks to lower property maintenance expenses. Mapletree Industrial Trust's recent results have proven its resiliency in the market. According to OCBC Investment Research, gross revenue increased by 4.5% YoY to $87.8m whilst net property income jumped 6.4% YoY to $66m. read more
24 hours ago
US submarine makes South Korea port call, North remains defiant
[SEOUL] A nuclear-powered US submarine made a port call in South Korea on Tuesday in a show of force amid concerns that North Korea may mark the foundation of its military with a missile launch or a nuclear test, defying US and Chinese pressure.
24 hours ago
Frasers Centrepoint Trust Q2 DPU remains steady at 3.04 Singapore cents
Chai Hung Yin - FRASERS Centrepoint Trust reported a distribution per unit (DPU) of 3.04 Singapore cents for the second quarter of its 2017 financial year, unchanged from a year ago, its manager said in a Singapore Exchange filing on Tuesday.
24 hours ago
Australia, New Zealand markets closed for holiday
[HONG KONG] Financial markets in Australia and New Zealand are closed on Tuesday for a public holiday.
24 hours ago
Hong Kong: Stocks extend gains at open
[HONG KONG] Hong Kong equities rose soon after opening on Tuesday, building on a three-day gain and following a strong lead from New York and Europe in response to French moderate Emmanuel Macron's first-round presidential election success.
1 day ago
Can Raffles Medical Group count on its China expansion for an earnings boost?
Michelle Zhu - SINGAPORE (April 25): RHB and Maybank Kim Eng Research have lowered their price targets on Raffles Medical Group (RMG) to $1.49 from $1.72, and to $1.67 from $1.70 respectively after the group posted a marginal 1.7% decline in 1Q17 revenue yesterday on softer-than-expected demand from foreign patients, hence missing the expectations of both research houses. (See also: Raffles Medical 1Q earnings stay flat at $15.5 mil) While RHB has downgraded its rating on the counter from “buy” to “neutral” as a result, Maybank reiterates its “buy” call for the long-term potential it sees in the group’s business expansion into China, which it estimates to turn profitable by its second full year of operation in 2020. “On the bright side, both Shanghai and Chongqing Hospitals could lift growth in the mid- to long-term,” says Maybank analyst John Cheong in a Tuesday report. Regardless, Cheong is cognisant that the slowdown in Singapore’s healthcare sector in addition to the start-up costs of both China hospitals are likely to drag on RMG’s earnings going forward. He estimates both hospitals to incur losses of $3.4 million in 2018 and $2.3 million in 2019, before reporting positive earnings of $2 million in 2020. While RHB analyst Juliana Cai says she is also positive on the group’s medium-term outlook with regards to its China expansion, the research house’s FY17-19F earnings estimates have nonetheless been cut by 10-13% on the weaker healthcare outlook in Singapore. RMG’s Chongqing hospital has not been factored into the numbers for RHB’s forecasts, given limited information provided by the group’s management, explains Cai. “Based on the information available, our back-of-envelope DCF valuation suggests that the Chongqing hospital project could add an additional $1.10/share to our current TP on a bull case scenario. Even in a bear-case scenario, we believe this project to be accretive at $0.37/share,” she elaborates. “Rental income from Raffles Holland Village would only contribute more significantly next quarter onwards… Management guided that the Raffles hospital extension would be completed by 4Q17.  However, based on our channel checks, we think this is likely to be operational only next year. This may not be a bad thing, given the current weak demand from foreign patients,” adds Cai.   As at 9:56am, shares of RMG are trading flat at $1.42. 
1 day ago
Dr Chan: China to Revamp Its Financial Industry
Chan Yan Chong - US Stocks are currently going through a period of quarterly results announcement, so different stocks are performing differently. However, when it comes to Hong Kong stocks, only a few companies release quarterly results. This lack of reference materials leads to a situation where the strong stocks get stronger.
1 day ago
Singapore O&G proposes splitting one existing share into two
Chai Hung Yin - SINGAPORE O&G is proposing a split of every one existing ordinary share in the capital of the company into two, it said in a Singapore Exchange (SGX) filing on Tuesday.
1 day ago
Credit quality of Singapore firms largely unchanged over the past year: SCCB
Angela Tan - THE credit quality of Singapore firms has remained largely unchanged over the past year, the Singapore Commercial Credit Bureau (SCCB) said on Tuesday.
1 day ago
Daily Markets Briefing: STI up 0.13%
Staff Reporter - Submitted By:  Gerv Tacadena Case Study:  No Expect some boost today. The Straits Times Index (STI) ended 4.2 points or 0.13% higher to 3144.03 on Monday, taking the year-to-date performance to +9.14%. The top active stocks were Singtel, which closed unchanged, DBS, which gained 1.23%, OCBC Bank, which gained 0.52%, Keppel Corp, which declined 0.76% and CapitaLand, with a closed unchanged. read more
1 day ago
Daily Briefing: Singapore leads fintech race against Hong Kong; Toa Payoh to see two public housing projects
Staff Reporter - Submitted By:  Gerv Tacadena Case Study:  No And check out these two guys who quit their banking jobs for hawker food. read more
1 day ago
Malaysia: Shares open higher on Tuesday
MALAYSIA share prices open higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 8.340 points to 1765.080.
1 day ago
Asia stocks, euro steady as markets pause for breath after French election
Today - SINGAPORE - Asian equities were steady on Tuesday and the euro retained gains as markets' euphoria over a centrist victory in the first round of the French presidential election subsided, though near-term investor sentiment remains positive. ...
1 day ago
Singapore shares open marginally up on Tuesday
Chai Hung Yin - SINGAPORE shares opened higher on Tuesday with the benchmark Straits Times Index up 1.66 points, or 0.05 per cent, to 3,145.69 at 9.03 am.
1 day ago
Stocks to watch: Parkway Life Reit, Cambridge Industrial Trust, CapitaLand
Chai Hung Yin - THESE stocks had announcements which may influence trading on Tuesday.
1 day ago
China's environment ministry finds patchy progress on water and soil pollution
[BEIJING] Efforts to tackle water pollution in China remain uneven with some areas worsening in 2016, while heavy metals and other pollutants continued to accumulate in Chinese soil, the Ministry of Environmental Protection (MEP) said.
1 day ago
SK Hynix reports record quarterly revenue, profit on strong chip demand
[SEOUL] South Korea's SK Hynix Inc said its first-quarter operating profit more than quadrupled from a year earlier on strong demand for memory chips, pushing it to a record-high quarterly profit and beating already high market expectations.
1 day ago
T-Mobile's outlook for subscriber growth brightens
[NEW YORK] T-Mobile US Inc will gain more subscribers than expected this year amid intensified competition from Verizon Communications Inc and AT&T Inc, even if it means taking a hit on profit.
1 day ago
Parkway Life, Frasers Centrepoint, CapitaLand, Cambridge Industrial, Mapletree Industrial, HPHT, Singapore Medical, Neratel
PC Lee - SINGAPORE (April 25): Here are some stocks to watch this Tuesday morning: Parkway Life REIT’s (PLife REIT) manager today posted a distribution per unit (DPU) of 3.28 cents for the first quarter ended March 31, up 9.6% from the 2.99 cents declared a year ago. Units of PLife REIT closed flat at $2.53 on Monday.  See: Parkway Life REIT sees 9.6% rise in 1Q DPU to 3.3 cents The manager of Frasers Centrepoint Trust (FCT) has declared a 2Q17 distribution per unit (DPU) of 3.04 cents, unchanged from a year ago. Gross revenue for the quarter declined 2.9% on-year to $45.7 million $47.1 million in the previous year. Units of FCT closed 4 cents higher at $2.12 on Monday.  See: Frasers Centrepoint Trust reports flat 2Q DPU of 3.04 cents CapitaLand today announced several key executive appointments from May 1that will support the next phase of leadership and business excellence in the group. Ronald Tay will be appointed the Chief Executive Officer of CapitaLand Singapore and a key management personnel of CapitaLand Group. Shares of CapitaLand closed at $3.62. See: CapitaLand announces key executive appointments The manager of Cambridge Industrial Trust (CIT) has declared a 1Q17 distribution per unit (DPU) of 1.004 cent, a 9.7% decrease from 1.112 cent in the previous year. Units of CIT closed flat at 58 cents on Monday. See: Cambridge Industrial Trust’s 1Q DPU falls 9.7% to 1 cent The manager of Mapletree Industrial Trust (MIT) has announced a 2.5% y-o-y rise in 4Q distribution per unit (DPU) to 2.88 cents. This brings DPU for FY16/17 to 11.39 cents, 2.2% higher than the previous year’s DPU of 11.15 cents. Units of MIT closed 0.3% lower at $1.80 on Monday. See: Mapletree Industrial Trust’s FY16/17 DPU rises 2.2% to 11.39 cents Hutchison Port Holdings Trust (HPHT) saw its earnings for the first quarter ended March 31 fall 69.9% to HK$166.9 million ($29.9 million) from HK$554.9 million in the previous year. Units of HPHT closed 1.23% higher at 41 US cents on Monday. See: Hutchison Port Holdings Trust’s 1Q earnings per unit falls 70% to 1.92 HK cents Singapore Medical Group is undertaking a review of its current and future acquisitions strategies. Shares of SMG closed 1 cent lower at 60 cents. See: Singapore Medical Group undertaking review of acquisitions strategies Nera Telecommunciations (Neratel) has received contracts of approximately $7.15 million in aggregate in relation to the supply, delivery, installation and maintenance of security application equipment to a telecom operator in the Philippines.  Shares of Neratel closed 1 cent lower at 39 cents. See: Neratel announces new contract wins worth $7.15 mil Markets US stocks rallied on Monday, tracking a relief rally that swept through Asian and European markets, after centrist candidate and market favorite Emmanuel Macron won the first round of the French presidential election. The Dow Jones Industrial Average rose 216.13 points, or 1.05%, to 20,763.89, the S&P 500 gained 25.46 points, or 1.08%, to 2,374.15 and the Nasdaq Composite added 73.30 points, or 1.24%, to 5,983.82. The Straits Times Index closed with a net gain of just 4.2 points at 3,144.03. Turnover amounted to 3.3 billion units worth $1.1 billion and excluding warrants there were 220 rises versus 247 falls.
1 day ago
Cambridge Industrial Trust Q1 DPU down 9.7%
Chai Hung Yin - CAMBRIDGE Industrial Trust's distribution per unit slipped 9.7 per cent to 1.004 Singapore cents in the first quarter of 2017, the manager of the trust said in a Singapore Exchange filing on Tuesday.
1 day ago
Tokyo: Shares open flat
[TOKYO] Tokyo shares opened flat Tuesday with investors wary of North Korea as it marks a key military anniversary, after global stocks rallied on the back of the first round of the French election.
1 day ago
mm2 Group Red Carpet Club membership extended to UnUsUaL shareholders
Michelle Zhu - SINGAPORE (April 25): mm2 Asia is expanding its mm2 Group Red Carpet Club membership base to now include UnUsUaL shareholders. The mm2 Red Carpet Club was launched in Jan 2015 as a platform for ongoing interaction with its shareholders with invitations to gala premieres and preview screenings to movies produced and/or distributed by the group. With the recent spin-off and Catalist listing of UnUsUaL this month, the revamped mm2 Group Red Carpet Club will now include shareholders of both mm2 Asia and UnUsUaL who hold at least 1,000 shares in either company. A concert featuring Chinese pop singer Ronghao Li, who will be performing at The MAX Pavilion at Singapore Expo on May 13 as part of his An Ideal World Tour, has been announced as the first Red Carpet Club event for UnUsUaL’s shareholders since the concert producer and promoter’s listing on April 10. mm2 also intends to extend pre-sales to certain concerts for its Red Carpet Club members, which will allow shareholders to purchase tickets ahead of public sales. “Welcoming UnUsUaL to our Red Carpet Club family, we look forward to organising more movie and concert related activities for the group’s shareholders,” says Chang Long Jong, CEO of mm2 Asia. Shares of mm2 Asia closed 3.1% higher at 49.5 cents, while UnUsUaL closed 1.1% higher at 47 cents on Monday. 
1 day ago
Parkway Life Reit DPU up 9.6% in Q1 2017
Chai Hung Yin - PARKWAY Life Real Estate Investment Trust (Reit) reported a distribution per unit (DPU) of 3.28 Singapore cents, up 9.6 per cent from the previous quarter, Parkway Trust Management Limited said in a Singapore Exchange filing on Tuesday.
1 day ago
Parkway Life REIT sees 9.6% rise in 1Q DPU to 3.3 cents
Michelle Zhu - SINGAPORE (April 25): Parkway Life REIT’s (PLife REIT) manager today posted a distribution per unit (DPU) of 3.28 cents for the first quarter ended March 31, up 9.6% from the 2.99 cents declared a year ago. Gross revenue for the quarter remained comparable to that of the previous year at $26.9 million, in spite of the REIT’s divestment of four Japan nursing homes in Dec 2016. (See also: Parkway Life REIT sells 4 nursing homes in Japan for $48 mil) This was largely due to the contribution from the REIT’s acquisition of a nursing home in March 2016, higher rent from the Singapore properties, and the appreciation of the Japanese yen. Additionally, PLife REIT’s five new properties acquired in Japan on Feb 24 this year also began contributing to group revenue during 1Q17. After deducting property expenses, which increased slightly by 2.3% to $1.8 million from $1.76 million in the previous year, net property income (NPI) for the quarter was 25.1 million, relatively unchanged from 1Q16. The gain from PLife REIT’s divestment of its four nursing homes in Japan last Dec will be equally distributed over the four quarters FY17, with a payout of 0.22 Singapore cents for 1Q 2017, says the manager in a Tuesday filing to the SGX. As part of ongoing efforts to strengthen the REIT’s balance sheet, all its long-term loans which were due in FY18 had been successfully termed out in 1Q17, while there will be no long-term refinancing need till FY19. Gearing remains at 37.6% with a low effective all-in cost of debt of 1.3% as of end March. “As we continue to build on our proven strategies, we are pleased to deliver another quarter of steady DPU growth since IPO,” says Yong Yean Chau, CEO of the manager. “Our rejuvenated portfolio of assets following the 2nd asset recycling and reinforced capital structure has strengthened our foundation as we look forward to delivering further growth in the year ahead.” Units of PLife REIT closed flat at $2.53 on Monday. 
1 day ago
Key executive appointments at CapitaLand
Chai Hung Yin - CAPITALAND Limited has made several key executive appointments, the real estate company said in a Singapore Exchange filing on Tuesday. They will take effect from May 1, 2017
1 day ago
MAS foresees inflation to average 0.5-1.5% this year
Staff Reporter - Submitted By:  Gerv Tacadena Case Study:  No External inflationary pressures have picked up. After Singapore posted a headline inflation of 0.7% in March, the Monetary Authority of Singapore is expecting the whole year inflation to average 0.5-1.5%. MAS noted that external inflationary pressures have picked up amidst a turnaround in global commodity markets. Further, it added that global oil prices have risen from their trough in the previous year, and are likely to average higher in 2017. read more
1 day ago
Tom Hanks jokes Twitter CEO inspired his character in 'The Circle'
Today - SAN FRANCISCO - Oscar-winning actor Tom Hanks, who plays a Silicon Valley tycoon in the new film "The Circle" about a powerful social media company, teased Twitter Inc Chief Executive Officer Jack Dorsey on Monday that he may have been inspiration for the...
1 day ago
Chile rocked by 7.1-magnitude quake; no major damage reported
[SANTIAGO] A major earthquake of magnitude 7.1 struck off the west coast of Chile on Monday, rocking the capital Santiago and briefly causing alarm along the Pacific Coast but not producing any serious damage.
1 day ago
Singapore: CoAssets HK acquisition; DeClout opens incubator
Shiwen Yap - CoAssets has acquired a stake in a Hong Kong firm as part of its growth strategy, while DeClout has opened a business incubator arm. The post Singapore: CoAssets HK acquisition; DeClout opens incubator appeared first on DealStreetAsia.