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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2 days ago

Broker's take: OCBC upgrades OUE H-Trust to 'buy'

Rachel Mui - CITING that OUE Hospitality Trust's (H-Trust) is "too cheap to ignore", OCBC Investment Research has upgraded its rating on the counter from "hold" to "buy", while maintaining its fair value estimate of S$0.79. 

2 days ago

S’pore, China to export lessons gleaned from Tianjin and Suzhou flagship projects: DPM Teo

albertwai - Kenneth Cheng10 hours 21 min agoSINGAPORE — Singapore and China are looking to export the lessons learnt from flagshi

2 days ago

Changi crowned as Asia's most connected international airport

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No It placed eight in the global rankings. Changi Airport is still Asia’s most connected international airport in 2018, a study by UK air travel intelligence firm OAG revealed. The Lion City’s airport scored 253 in the firm’s c ...

2 days ago

Ping An unveils wealth platform Lu Global in Singapore; eyes 20-30% AUM growth

Jamie Lee - PING An Group's Lu International on Thursday launched its online wealth management platform, Lu Global, for accredited investors in Singapore as well as investors in Asia, with an aim to grow its assets under management by 20-30 per cent next year, a top executive told <em>The Business ...

2 days ago

Singapore stocks: STI resumes Thursday afternoon at 3,176.3, down 0.01%

Wong Kai Yi - SINGAPORE stocks resumed trading essentially flat on Thursday after the midday lunch break, with the Straits Times Index shedding 0.27 of a point, or 0.01 per cent to 3,176.3 as at 1.22pm.

2 days ago

Commentary: Creepy friendliness yet great convenience, what passengers love and hate about ride-sharing services

Chew Yi Hong - Love it or hate it, the fact is, most people can't do without ride-sharing services these days, says one observer.

2 days ago

Singapore’s Ohmyhome raises $2.9m in Series A led by Golden Equator Capital

Kristie Neo - Other investors for this round include existing investor K3 Ventures as well as family offices and individuals. The post Singapore’s Ohmyhome raises $2.9m in Series A led by Golden Equator Capital appeared first on DealStreetAsia.

2 days ago

Alibaba's Jack Ma says US-China trade war ends 1 million US jobs promise: Xinhua

Andrew Hammond - Alibaba chairman Jack Ma said the company can no longer meet its promise to create 1 million jobs in the United States due to US-China trade tensions, Chinese news agency Xinhua reported.

2 days ago

Stratech's controlling shareholders seeking stay of winding-up order

Stanislaus Jude Chan - SINGAPORE (Sept 20): A Singapore court has granted applications to wind up The Stratech Group and its subsidiary, Stratech Systems, after the group failed to receive the necessary support for proposed schemes of arrangement. See: Stratech to receive funds from controlling shareholders, plans to prop ...

2 days ago

OUELH receives listing and quotation notice for 2.2b new rights shares

Leila Lai - OUE Lippo Healthcare has received a listing and quotation notice for 2.2 billion new rights shares for the healthcare company's one-for-one rights offering.

2 days ago

OUELH to raise S$149m from rights issue to fund purchase of Bowsprit, First Reit stakes

Leila Lai - OUE Lippo Healthcare Limited (OUELH) plans to raise S$148.8 million in net proceeds from a renounceable underwritten rights issue to fund its proposed acquisition of stakes in First Reit (real estate investment trust) and Bowsprit Capital Corporation, the healthcare company announced on Thursday.

2 days ago

Alibaba's Jack Ma rules out comeback after he steps down next year

Andrew Hammond - TIANJIN: Jack Ma, the charismatic billionaire co-founder of Chinese e-tech giant Alibaba Group Holding Ltd, said he would not look to return as the firm's executive chairman after he steps down next year even if his successor faces problems. "I don't want to die in the office, I'd rather die on ...

2 days ago

World's first unified payment QR code credit positive for Singapore banks: Moody's

Vivien Shiao - CREDIT ratings agency Moody’s said on Thursday that the launch of the world’s first unified payment QR code, or the Singapore Quick Response Code (SGQR), will accelerate mobile payments in the country.

2 days ago

Easy for Hongkong Land to find replacement for tenant HNA: DBS

PC Lee - SINGAPORE (Sept 20): China-based HNA Group reportedly surrendered eight floors at Three Exchange Square in Hongkong’s Central with lettable area of 88,000sf. This move should not surprise the market as this conglomerate has been reducing its business operations in Hong Kong in the previous year. T ...

2 days ago

Aspen faces lawsuit by IBM claiming RM7.7m

Kenneth Lim - ASPEN (Group) Holdings' subsidiaries have received a writ of summons from units of IBM in Malaysia claiming RM7.7 million (S$2.6 million) for development services, according to a filing with the exchange on Thursday during the midday trading break.

2 days ago

Singaporeans love their banks but remain wary of the lesser-known, finds survey

Michelle Zhu - SINGAPORE (Sept 20): While a majority of Singaporeans view the city state’s financial services sector as more trustworthy than a decade ago, many are cautious towards less familiar sub-industries and new & emerging digital financial services companies. This is according to the inaugural 2018 F ...

2 days ago

DeClout's vCargoCloud to integrate platform services with RSTrade for Singapore-Russia trade opportunities

Michelle Zhu - SINGAPORE (Sept 20): DeClout’s 50.01%-owned subsidiary vCargo Cloud (VCC) has signed a co-operation agreement with Russia-based LLC RSTradehouse (RSTrade) to expand trade opportunities between companies in Russia and Singapore, including through the integration of their respective platforms’ ser ...

2 days ago

M1 users hit by mobile data disruption

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No M1 noted the service disruption at 7:18 am. Some M1 subscribers experienced a glitch in their 3G and 4G mobile data services. By 7:18 am, the telco provider issued a Facebook statement saying that their engineers are working to resolve the is ...

2 days ago

Space supply for business parks could double by 2030

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No Thanks to the government's push for directives to create new industrial and tech parks. The Singapore government has established a ‘strong understanding’ to retain the city-state’s spot as a major technology hub, Collier ...

2 days ago

ThaiBev’s ops performance to pick up in FY19; issues debentures

PC Lee - SINGAPORE (Sept 20): ThaiBev announced that it had issued THB77 billion ($3.3 billion) in debentures after the company last month announced it was looking to issue debentures to replace its short-term debts. This refinancing move and fixing of coupon rates should allay investors' concerns on the gro ...

2 days ago

Najib looking at 21 charges in third arrest this year

Samantha Chiew - SINGAPORE (Sept 20): Former Malaysian prime minister Najib Razak will be looking a total of 21 charges against him involving US$681 million ($932.8 million) transferred into his personal bank account, said Malaysian Deputy Inspector-General of police Tan Sri Noor Rashid Ibrahim in a statement today. ...

2 days ago

Singapore proptech startup Ohmyhome gets S$4m Series A funding

Jacquelyn Cheok - OHMYHOME, a Singapore-based property marketplace, announced on Thursday it has raised S$4 million in Series A funding led by Golden Equator Capital.

2 days ago

Japan hit by another cryptocurrency heist, US$60 million stolen

Andrew Hammond - Japanese cryptocurrency firm Tech Bureau Corp said about US$60 million in digital currencies were stolen from its exchange, highlighting the industry's vulnerability despite recent efforts by authorities to make it more secure.

2 days ago

EMA, Enterprise Singapore launch grant call for local enterprises to develop solar energy solutions

Vivien Shiao - THE Energy Market Authority (EMA) and Enterprise Singapore have jointly launched a grant call for local enterprises to develop solutions in deploying solar energy and optimising energy consumption.

2 days ago

Singapore and Russia ink MOUs to foster closer collaboration between startup ecosystems

Samantha Chiew - SINGAPORE (Sept 20): Singapore yesterday signed two memorandum of understanding (MOU), at the High Level Russia-Singapore Inter-Governmental Commission meeting. These MOU were signed to encourage collaboration between the two countries to co-create innovative tech solutions and products, as Enterpri ...

2 days ago

Ascott Reit forays into development with $62.4m co-living project

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No They eye to build 324 studio and loft units in lyf one-north. Ascott Residence Trust (Ascott Reit) acquired a greenfield site for $62.4m to become the firm’s maiden development project. The site will be turned into the first co-living p ...

2 days ago

Atlantic Navigation, unit receive arbitration notices for US$3m and US$5.8m for balance payment, cancelled order

Leila Lai - ATLANTIC Navigation Holdings (Singapore) Limited and its subsidiary Atlantic Maritime Group FZE (AMG) have received notices of arbitration regarding a balance payment of about US$3 million owed to a Chinese shipbuilder for a cancelled order.

2 days ago

Atlantic Navigation, unit receive arbitration notices for US$3m owed on cancelled order

Leila Lai - ATLANTIC Navigation Holdings (Singapore) Limited and its subsidiary Atlantic Maritime Group FZE (AMG) have received notices of arbitration regarding a balance payment of about US$3 million owed to a Chinese shipbuilder for a cancelled order.

2 days ago

Court orders winding up of Stratech, appoints liquidators from BDO

Vivien Shiao - MAINBOARD-LISTED The Stratech Group announced on Thursday that a Singapore Court has granted applications to wind up the company, and has appointed liquidators from BDO to carry out the process.

2 days ago

Mapletree Logistics Trust issues new units to raise $375m

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No It will partially fund the firm's acquisitions. Mapletree Logistics Trust (MLT) launched the private placement of 309.9 million new units to raise $375m, an announcement revealed. The new units were priced at $1.21 apiece and have seen st ...

2 days ago

Here's what kept Singapore from being Asia's best tech hub

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No The Lion City lagged behind Bangalore in growth potential measures due to its small size. Singapore is the second best tech hub in the world as it scored 63%, 4.9 ppt points behind Bangalore’s total score of 67.9% in a study by Colliers ...

2 days ago

Keppel injects $283m for JV in China residential development

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No They eye to build 1,728 apartment units and 50 street-front shop units. Keppel Land China and Chinese property development firm Gemdale embarked on a joint venture (JV) to develop an 8.8 ha prime residential site in Nanjing for $283m (RMB1.4b ...

2 days ago

Singapore shares rise at Thursday's open; STI up 0.17% to 3,181.95

Leila Lai - SINGAPORE stocks opened stronger on Thursday, with the Straits Times Index advancing 0.17 per cent or 5.38 points to 3,181.95 as at 9.02am.

2 days ago

Stocks to watch: Mapletree Logistics Trust, Keppel, Ascott Reit, Far East, Asiatravel.com

Leila Lai - THE following companies saw new developments which may affect trading of their shares on Thursday:

2 days ago

Lum Chang offers S$26.5m of notes for early exchange; offer lapses on Sept 21

Vivien Shiao - CONSTRUCTION and property developer Lum Chang announced on Thursday that S$26.5 million of its outstanding S$50 million 5.5 per cent notes due 2019 had been offered for exchange for a “like principal amount” of Singapore dollar-denominated notes due 2021 that carry a higher coupon of 5.8 per ce ...

2 days ago

Daily Markets Briefing: STI up 1.19%

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No Expect muted gains today. The Straits Times Index (STI) ended 37.23 or 0.1.19% higher 3,176.57. The FTSE ST Mid Cap Index inched up 5.55%, whilst the FTSE ST Small Cap Index grew 1.49%.  The top active stocks are DBS, which slipped 0.20% ...