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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3 days ago

Daiwa House Logistics Trust IPO public offer 9.5 times subscribed

Jude Chan - DAIWA House Logistics Trust (DHLT), a real estate investment trust (Reit) that will invest in logistics and industrial real estate assets across Asia, on Thursday (Nov 25) announced that the public offer of 25 million units to Singapore investors under its initial public offering (IPO) was 9.5 time ...

3 days ago

Philippines market operator has record-breaking year, sees more listings of Reits, SMEs ahead

Raphael Lim - THE Philippine Stock Exchange (PSE) has had a stellar run over the past year, with capital-raising activities approaching records, as well as its largest-ever initial public offering (IPO) coming to the market.

3 days ago

Kimly full-year profit up 55.7% to S$39.3m

Kelly Ng - COFFEE shop and food court operator Kimly reported a 55.7 per cent growth in net profit to S$39.3 million for the full year ended Sep 30, 2021.

3 days ago

Jumbo FY2021 net loss widens to S$11.8m

Tan Nai Lun - SEAFOOD restaurant operator Jumbo Group saw its net loss widen to S$11.8 million for its full year ended Sep 30, 2021, from S$8.2 million a year ago.

3 days ago

STI down 0.2% amid lingering inflation, tapering worries

Uma Devi - LOCAL stocks ended Thursday (Nov 25) in the red as traders approached markets cautiously. Notable factors that weighed on investor sentiment were inflation levels that could exceed forecasted levels, as well as a faster tapering by the US Federal Reserve.

3 days ago

SGX, Changi Airports International launch aviation and travel index

Vivienne Tay - THE Singapore Exchange (SGX) and Changi Airports International (CAI) have launched the iEdge-GateEq Aviation and Travel Index, a market capitalisation-weighted index which covers the top 50 listed companies in the global travel and aviation industry.

3 days ago

Chaswood tries again for RTO, this time with HK battery tech company for US$500m

Venga Subramaniam - MALAYSIAN restaurant operator Chaswood Resources Holdings on Thursday (Nov 25) signed a binding term sheet to acquire battery maker HK Aerospace Beidou New Energy Technology (HKAB) for an indicative price of US$500 million.

3 days ago

Dtac-True merger reflects urgent need for scale as regional telcos invest in 5G: analysts

Yong Jun Yuan - NORWEGIAN telco Telenor and Thai conglomerate Charoen Pokphand Group (CP Group) agreed on Monday (Nov 22) to merge their telco units in a deal that analysts say will help create a more competitive entity within the Thailand telecoms market.

3 days ago

New bonus GFA scheme is a carrot that comes with a stick

Nisha Ramchandani - DEVELOPERS welcomed a new bonus gross floor area (GFA) incentive scheme aimed at transforming the built environment sector, although the all-or-nothing approach to qualify for the bonus GFA and the costs associated with fulfilling certain criteria were among key concerns flagged by some.

3 days ago

Robust IPO activity in South-east Asia boosted by Thailand, the Philippines, Indonesia: Deloitte

Tan Nai Lun - CAPITAL markets in South-east Asia have recorded robust activity in initial public offerings (IPOs) for the first 10.5 months in 2021, with Thailand, the Philippines and Indonesia contributing to 95 per cent of funds raised.

3 days ago

Earnings visibility to boost Thailand's stocks, sectors in 2022: CGS-CIMB

Venga Subramaniam - EARNINGS visibility, rather than just earnings recovery, is set to drive stock and sector performance in Thailand, said CGS-CIMB, as the brokerage placed its preference on large cap companies with domestic exposure.

3 days ago

Civil servants get 1 month year-end bonus

Kelly Ng - CIVIL servants in Singapore will receive a 1 month year-end bonus this year, with junior grade officers to receive an additional payment of S$500.

3 days ago

What US$100m? MatchMove's deal raises questions instead of money

Claudia Chong - FINTECH startup MatchMove announced in June that it had secured US$100 million from IT services group Nityo Infotech. But more than 5 months on, regulatory records indicate that no funding has come through.

3 days ago

Pakistan e-commerce platform Daraz aims to beef up as Amazon eyes market

ISLAMABAD: Pakistan's largest e-commerce retail platform Daraz aims to host up to 300,000 small to medium enterprises (SMEs) in two years, its CEO said, as the firm seeks to bolster its position in its home market in the face of potential competition from global giant Amazon. E-commerce growth ...

3 days ago

KKR, CVC Capital in talks to jointly bid for Telecom Italia – Bloomberg News

:KKR & Co and CVC Capital Partners are considering teaming up on a bid for Italy-based Telecom Italia SpA, Bloomberg News reported https://bloom.bg/3cNCTED on Thursday, citing people with knowledge of the matter.The two private-equity firms have held exploratory talks about the potential for a j ...

3 days ago

KKR, CVC Capital Partners considering teaming up to bid for Telecom Italia: Bloomberg News

KKR & Co and CVC Capital Partners are considering teaming up on a bid for Italy-based Telecom Italia SpA, Bloomberg News reported on Thursday, citing people with knowledge of the matter. The two private-equity firms have held exploratory talks about the potential for a joint offer, the report ad ...

3 days ago

Indonesia expects to meet 2021 tax revenue goal: Finance minister

JAKARTA: Indonesia expects to reach its tax revenue target this year for the first time in over a decade, as business activities recover from the impact of the coronavirus pandemic, Finance Minister Sri Mulyani Indrawati told a media briefing on Thursday. Indonesia is targeting tax revenues of 1,444 ...

3 days ago

Joint oil release set to have limited market impact, says head of PAJ

TOKYO: The volume of the U.S.-led coordinated oil release by consuming countries from national reserves is relatively small and is expected to have a limited impact on oil markets, the head of the Petroleum Association of Japan (PAJ) said on Thursday. "Since the volume is small, I think it is a ...

3 days ago

EU countries agree on common stance on new rules for US tech giants

BRUSSELS: EU countries on Thursday agreed on a common position on new rules to curb the power of US tech giants and force them to do more to police their platforms for illegal content. However, they will have to iron out the final details with EU lawmakers, who have proposed tougher rules and highe ...

3 days ago

Malaysia's 5G network fees will cost telcos less, says finance minister

KUALA LUMPUR: Malaysian state agency Digital Nasional Berhad (DNB) will charge telecom firms far less for 5G network than the cost operators have incurred for 4G, the finance minister said in parliament on Thursday (Nov 25). DNB, an agency under the finance ministry, is the sole licensee for 5G spec ...

3 days ago

Software AG considers putting itself up for sale: Bloomberg

FRANKFURT : Software AG is exploring strategic options including a potential sale, Bloomberg News on Thursday cited people familiar with the matter as saying. Frankfurt-listed shares of the German business software developer jumped 10.6per cent on the news. The company declined to comment.

3 days ago

Advisers urge Japan govt to step up reviews of economic projections

TOKYO: Private sector advisers of Japan's top economic council urged the government to take into account a wider range of possible changes in the economy in its semi-annual economic projections. The government should also step up its reviews of past mid- to long-term forecasts, such as when est ...

3 days ago

Vietnam stocks hit new milestone in record run

HANOI: Vietnam's benchmark stock market index hit a fresh record high on Thursday, topping the 1,500 point mark for the first time and defying a slump across most other Asian equity markets. The small frontier market has risen 36 per cent this year and analysts heralded the new high, driven by ...

3 days ago

Q&A-Why is Telecom Italia caught up in bid excitement?

MILAN : U.S. private equity firm KKR has submitted a non-binding proposal https://www.reuters.com/markets/deals/telecom-italia-board-meet-sunday-kkrs-takeover-proposal-sources-2021-11-21 to take Telecom Italia (TIM) private, valuing Italy's former phone monopoly at 33 billion euros (US$37 billi ...

3 days ago

China to remain "super market" into next year, Daimler China chief says

BERLIN : Daimler's China sales will stay strong next year, the carmaker's China chief said on Thursday, adding he was confident that Mercedes-Benz could grow its share of the country's electric vehicle market given little competition in the premium car segment.Its car sales in China j ...

3 days ago

Anti-money laundering credentials key for Binance's Paris plans - regulator

PARIS : France's financial sector regulator said on Thursday that crypto exchange Binance must focus on its anti-money laundering compliance if it wants regulatory backing to set up a possible regional hub in Paris.Regulators across the world have in recent months scrutinised Binance, the world ...

3 days ago

China to remain 'super market' into next year: Daimler China chief

BERLIN: Daimler's China sales will stay strong next year, the carmaker's China chief said on Thursday, adding he was confident that Mercedes-Benz could grow its share of the country's electric vehicle market given little competition in the premium car segment. Its car sales in China j ...

3 days ago

UK's Blue Prism agrees to US$1.63 billion final takeover offer from Vista

Britain's Blue Prism has agreed to a final takeover offer from Vista Equity, valuing the robotics software company at 1.22 billion pounds (US$1.63 billion), the U.S. private equity firm said on Thursday, topping an offer from SS&C Technologies.The increased 1,250 pence-per-share cash offer ...

3 days ago

UK software firm Blue Prism agrees to Vista's US$1.63 billion final takeover offer

British robotics software company Blue Prism has agreed to a 1.22 billion pound (US$1.63 billion) final takeover offer from US private equity firm Vista Equity, the parties said on Thursday, topping a proposal from SS&C Technologies. The increased 1,250 pence-per-share cash offer from Bali Bidc ...

3 days ago

TIM's CEO ready to step aside to facilitate assessment of KKR's bid: ANSA

MILAN: Telecom Italia Chief Executive Luigi Gubitosi said on Thursday he was ready to step aside in order to allow the group's board to make a smoother assessment of KKR's takeover proposal, ANSA news agency reported. In a letter to the board members, Gubitosi added that the board should n ...

3 days ago

Bid target Telecom Italia's auditors meet before key board meeting -sources

MILAN :Telecom Italia's (TIM) auditors and risk committee will examine its financial health on Thursday ahead of a board meeting which could decide the future of Italy's biggest phone group and its chief executive, two sources told Reuters.Italy's former telecoms monopoly has received ...

3 days ago

Telecom Italia CEO ready to step aside to speed decision on KKR offer: Report

MILAN: Telecom Italia CEO Luigi Gubitosi has told its board that he is ready to step aside if that would help speed up a decision on a takeover approach by US private equity group KKR, sources told Reuters on Thursday. KKR has made a 10.8 billion euro (US$12 billion) offer in the midst of a boardro ...

3 days ago

Telecom Italia CEO ready to step aside to speed decision on KKR offer -sources

MILAN :Telecom Italia CEO Luigi Gubitosi has told its board that he is ready to step aside if that would help speed up a decision on a takeover approach by U.S. private equity group KKR, sources told Reuters on Thursday.KKR has made a 10.8 billion euro (US$12 billion) offer in the midst of a boardro ...

3 days ago

Bid target Telecom Italia's auditors meet before key board meeting: Report

MILAN: Telecom Italia's (TIM) auditors and risk committee will examine its financial health on Thursday ahead of a board meeting which could decide the future of Italy's biggest phone group and its chief executive, two sources told Reuters. Italy's former telecoms monopoly has receive ...

3 days ago

DBS digital banking services back to normal, bank says disruptions not a result of cyber attack

siewfern -

3 days ago

Covid-19: Singapore logs 2-month low of 1,275 new cases, and 3 more deaths

asyrafkamil -