Japanese stocks see biggest weekly foreign outflow in three months
Japanese stocks witnessed a sharp outflow of foreign funds in the week to July 19, driven by a global selloff in technology shares and worries about the outlook for local exporters after a rally in the yen.According to exchange data, foreign investors offloaded Japanese stocks worth a net 819.6 bill ...
Treasury, finance functions gain importance in corporate strategy: DBS survey
Mia Pei - MULTINATIONAL companies’ treasury and finance functions are moving away from mere supporting roles to strategic leadership amid a rapidly evolving business landscape,...
New ICR floor provides relief to smaller overseas REITs
Goola Warden - The Monetary Authority of Singapore (MAS) has published a consultation paper to subject all REITs at all times to a minimum interest coverage ratio (ICR) threshold of 1.5 times and aggregate leverage limit of 50%, compared to the current rule that only REITs that intend to raise their aggregate leve ...
Julius Baer’s profit falls as post-Benko recovery awaits new CEO
JULIUS Baer Group said profit fell in the first half of the year even as clients began returning funds, signs of an...
Indonesia launches 'Golden Visa' to lure foreign investors, boost economy
JAKARTA: Indonesia launched a long-term visa scheme on Thursday (Jul 25) intended to attract foreign investors, President Joko Widodo said, with amounts of up to US$10 million giving them a 10-year visa a
Bursa-listed property and infrastructure stocks to gain from SEZ
Khairani Afifi Noordin - Earlier this year, analysts Thilan Wickramasinghe and Chua Hak Bin of Maybank Securities listed the “Winning SEZ Dozen” for the Johor-Singapore Special Economic Zone (JS-SEZ). These are their top pick of stocks that can potentially see earnings and multiple upgrades from their medium-term gearin ...
SMRT, the vital connector between RTS and the rest of Singapore
Khairani Afifi Noordin - SMRT Corp is the key player in the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link. Upon completion, the Temasek-owned firm will have an even greater role, connecting commuters from Woodlands North Station to the rest of the island. The company operates four businesses, with SMRT Trai ...
S$131 million purchase of two GCBs in Belmont Road may be linked to Hillhouse boss Zhang Lei
Kalpana Rashiwala - Two adjoining freehold bungalows on Belmont Road, off Holland Road, have changed hands for a total of S$131.4 million. The price works...
CrowdStrike - the markets reorder
Chew Sutat - Long before Free Fire — developed by Garena, the gaming arm of Sea — was awarded Best Shooter Game at the Sensor Tower APAC Awards and became the most downloaded mobile game worldwide in 2023, some of us will remember Doom 30 years ago. The original Doom was considered one of the first pionee ...
Hyundai Motor's Q2 profit rise 23%, beats expectations
SEOUL: South Korea's Hyundai Motor Co reported on Thursday (Jul 25) a 23 per cent rise in second-quarter profit that beat analysts expectations, helped by favourable exchange rates and solid sales of high-margin sport utility vehicles and hybrid cars. Hyundai Motor, which together with its affi ...
Citi maintains ‘buy’ call on FCT after 3QFY2024 business update
Ashley Lo - Citi Research analyst Brandon Lee has kept his “buy” call on Frasers Centrepoint Trust (FCT) following the REIT’s 3QFY2024 business updates analyst briefing. In his July 24 note, the analyst notes that FCT is not seeing significant retail leakage to Johore currently with Causeway Points’ ...
Nikkei tumbles most in three years on concerns of AI bets, BOJ
Japan’s Nikkei 225 Stock Average entered a technical correction as an AI-driven rally in technology shares went into reverse and concerns grew...
Why Genting Singapore and Q&M Dental are undervalued
Thiveyen Kathirrasan - The Edge Singapore has scored the stocks featured in this week’s Johor-Singapore Special Economic Zone (JS-SEZ) cover story based purely on quantitative metrics. The scoring table comprises 10 companies listed on the Singapore Exchange (SGX) and Bursa Malaysia. Similar to previous issues, the scor ...
Revolut gets UK banking licence, ending three-year wait
LONDON: Financial technology firm Revolut has received a UK banking licence with some restrictions, it said on Thursday (Jul 25), ending a three-year wait for the authorisation that will enable it to compete more directly against Britain's biggest banks. It is a major victory for Revolut, one o ...
How ComfortDelGro can ride on the coat-tails of the SEZ
Felicia Tan - Mainstream media reports that over 300,000 people cross the Johor-Singapore Causeway daily. Commuters can choose from various options, including private hire vehicles like ComfortDelGro (CDG) taxis or several bus services, such as Bus 170 from Kranji MRT Station, operated by SBS Transit. SBS Transit ...
Brokers’ take: RHB upgrades Venture Corp to ‘buy’ on expected recovery
Vivienne Tay - RHB on Thursday (Jul 25) upgraded Venture Corporation to “buy” from “neutral”, and raised its target price to S$16.50 from S$14.20.
Cut-off yield on latest Singapore 1-year T-bill slips to 3.38%
Tan Nai Lun - THE cut-off yield on Singapore’s latest one-year Treasury bill (T-bill) is offering a cut-off yield of 3.38 per cent, indicated auction results...
Charting a homegrown retirement path with Lion Global Investors
The Edge Singapore - Retirement is a significant life goal and milestone for most individuals. To many, after spending decades of working in 9-to-5 jobs, retirement seems like a godsend with the promise of the freedom to pursue their personal interests. However, retaining a fulfilling and comfortable lifestyle post-re ...
LG Display shrinks quarterly loss on Apple, Olympics demand
SOUTH Korean flat-screen maker LG Display narrowed losses from a year earlier in the June quarter as shipments of new panels for...
Nissan slashes full-year outlook after Q1 profit slumps 99%
TOKYO : Japan's Nissan Motor slashed its annual outlook after posting a 99 per cent decline in first-quarter operating profit on Thursday, falling short of analyst estimates and sending its shares sharply lower. Operating profit for the April-June period totalled 995 million yen ($6.51 million) ...
In the zone: Data centre development of telcos to benefit
Samantha Chiew - After Singapore imposed a moratorium on new data centres from 2019 to 2022, some operators moved their operations to Johor. Singapore Telecommunications (Singtel) is also expanding into Malaysia, with plans to establish a presence there. On June 15, Telekom Malaysia (TM) and Singtel’s Digital Infr ...
Tanker capsizes off Philippines, one crew missing, battle to contain oil spill
A MARINE tanker carrying industrial fuel sank in rough seas off the Philippines on Thursday (Jul 25), causing a large oil spill...
Consortiums led by Keppel, Sembcorp-SLNG shortlisted for ammonia power and bunkering project
Chong Xin Wei - THE Energy Market Authority (EMA) and the Maritime and Port Authority of Singapore (MPA) shortlisted two consortiums for the next round of...
Siltronic upgrades full-year guidance despite weak demand
:German semiconductor materials supplier Siltronic upgraded full-year guidance on Thursday despite reporting first-half sales down 14 per cent owing to weak demand for its products.The company, which makes silicon wafers used in semiconductor chips, now expects 2024 sales to decline by a high single ...
Siltronic revenue falls 14% in first half on weak demand
:German semiconductor materials supplier Siltronic reported a 14 per cent drop in half-year sales on Thursday, due to weak demand in the wafer market.The company, which makes silicon wafers used in semiconductor chips, posted revenue of 694.8 million euros ($753 million) in the first half of the yea ...
MAS’ easing leverage requirements a ‘positive step’ for S-REITs: RHB
Ashley Lo - Analysts from RHB Bank Singapore and Maybank Securities are keeping their “overweight” and “neutral” calls on Singapore REITs (S-REITs) respectively, following the proposed easing of leverage requirements by the Monetary Authority of Singapore (MAS). MAS has published a consultation paper ...
STMicroelectronics cuts full-year outlook for second time
Franco-Italian chipmaker STMicroelectronics (STM) on Thursday cut its full-year revenues guidance for the second time this year as industrial customer orders did not improve and automotive demand declined. The company, whose clients include Tesla and Apple, said it expects revenue in the range of $1 ...
Analysis:Megacap stock selloff shows investor concerns about too much tech
A tumble in the heavyweight stocks that have powered markets higher this year is highlighting Wall Street's vulnerability to any weakness in the Big Tech trade and causing concerns that over-stretched stocks are in for more turbulence. Disappointing quarterly reports from Tesla and Google-paren ...
Prices, rents of Singapore industrial space rise in Q2: JTC
Samuel Oh - PRICES and rents of Singapore industrial space rose in the second quarter of 2024, but while rents continued to rise, the rental...
LG Display reports Q2 loss on weak demand for panels
SEOUL : South Korean flat-screen maker LG Display reported a second consecutive quarterly loss on weak demand for large display panels for TVs and small panels for smartphones. The Apple supplier posted an operating loss of 94 billion won ($67.8 million) for the April-June quarter. The result compa
Morning Bid: Stock rout spreads beyond tech
A look at the day ahead in European and global markets from Kevin BucklandThe global equity sell-off looks set to extend into Europe on Thursday although the region may be spared the carnage in parts of Asia, where Japan's Nikkei tumbled as much as 3 per cent and Hong Kong's Hang Seng slum ...
LG Energy slashes sales target after earnings miss estimates
LG ENERGY Solution slashed its annual sales target and second-quarter earnings missed analyst estimates, as the South Korean battery maker grapples with...
Thailand car production drops sharply in June, local sales fall
BANGKOK : Car production in Thailand fell 20.11 per cent in June from a year earlier due to tighter financing rules and high consumer debt, and full-year production is now expected to be lower than in 2023, the Federation of Thai Industries (FTI) said on Thursday.The figure compared with May's ...
Bitcoin, Ether slide as risk aversion spreads to crypto market
ETHER, the second-largest token, paced a drop in digital assets following a slump in equities that spread unease in global markets.
