Gavin Selkirk has been appointed regional CEO wef Feb 1
Work experience: Corporate senior VP, Asia Pacific and Japan, Computer Associates; over 20 year of experience in the information and communications technology (ICT) industry
Archive for the ‘World’ Category
Fujitsu Asia – Corporate moves
February 8th, 2012 |
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Sunita Sue Leng: Beyond GDP, measuring well-being
February 8th, 2012 |
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TINY SINGAPORE IS among the richest countries in the world. That’s if you measure the nation’s wealth on a GDP per capita basis. Singapore’s 2010 figure is not far off from the US and even exceeds that of the UK, France and Hong Kong. That’s impressive for a country that 40-odd years ago was in the Third World league.
The GDP number is very important as it is the most widely used barometer of economic activity the world over. Much thought has gone into conceptualising and standardising it. And Singapore, like many countries, has zealously worked to keep this number on a sustainable upward trajectory.
SGX rises on Deutsche report on turnover
February 8th, 2012 |
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Shares of Singapore Exchange rose as much as 2.6% to a six-month high after Deutsche Bank highlighted that the bourse operator may benefit from improving turnover on its exchange, reported Reuters.
By 9:47 a.m., SGX shares were up 2.3% at $7.21 with more than 1.5 million shares traded versus its average daily volume of 4.6 milion over the last five sessions.
First Ship at record low on Berlian Laju default
February 8th, 2012 |
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Units of Singapore’s First Ship Lease Trust fell 6% on Wednesday after it said some subsidiaries of troubled Indonesian shipping company PT Berlian Laju Tanker Tbk had defaulted on payment obligations for three chemical tankers, reported Reuters.
At 9:02 a.m., First Ship units were trading at an all-time low of $0.187 with a volume of 813,000.
First Ship, which leased vessels to Berlian Laju, said the Indonesian shipping firm’s default will have material financial impact on the trust, and it is considering repossessing the tankers.
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Feb 8: Tiger Air, Global Logistic, First Ship, Chemoil
February 8th, 2012 |
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Singapore shares face a cautious start on Wednesday after Greece delayed a decision over the unpopular terms of a new European bailout, taking the edge off investors’ appetite for fresh gains.
Benchmark Straits Times Index rose 0.6% to 2,957.78 points on Tuesday. Here are some stocks and factors to watch according to Reuters:
Budget carrier Tiger Airways may be in focus after it said it is beginning a search for a chief executive officer to succeed Chin Yau Seng, who will return to Singapore Airlines.
Glencore increases stake in Chemoil Energy by 37.50% to 89%
February 7th, 2012 |
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Glencore International Plc has increased its stake in Singapore-listed Chemoil Energy by 37.5% to 89%, the marine-fuel supplier said in a statement to the Singapore stock exchange today, without giving a value for the transaction.
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STI adds 0.6% to 2,957.78 at closing
February 7th, 2012 |
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Straits Times Index added 0.6% to 2,957.78, its highest close since Aug. 5. Four shares rose for each that fell in the 30-member gauge.
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Singapore 2011 visitor arrivals increase 13% to 13.2 million
February 7th, 2012 |
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Singapore international visitor arrivals increased 13% to 13.2 million in 2011, the Singapore Tourism Board said in an e-mailed statement today. Preliminary tourism receipts are estimated to have reached $22.2 billion, reported by Bloomberg.
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Mewah shares surge 15% on M&A talk; CFO says no development
February 7th, 2012 |
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Singapore-listed palm oil firm Mewah International jumped 15% as traders cited mergers and acquisition talk surrounding the company, but Mewah said it is not aware of any corporate development, reported Reuters.
By 3:16 P.M., Mewah shares were up at $0.61, with more than 54 million shares traded, more than six times the average daily volume traded over the past 30 days.
“There is no corporate development that we are aware of,” Mewah Chief Financial Officer Rajesh Chopra told Reuters.
Mewah was among the top traded shares in Singapore by volume.
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Valuetronics Holdings rated ‘buy’ by UOB KayHian
February 7th, 2012 |
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UOB KayHian in a Feb 7 research report says: “Valuetronics Holdings (VHL) reported 3QFY12 net profit of HK$31.5 million, down 0.3% y-o-y. Excluding the impact of net realised exchange gains, 3QFY12 net profit declined 16.6% y-o-y to HK$26.9 million, in line with our estimates.
STX OSV Holdings rated ‘buy’ by OCBC
February 7th, 2012 |
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OCBC Investment Research in a Feb 6 research report says: “Unlike Asian shipyards, which mainly construct vessels of higher standardization and less sophistication, STX OSV focuses on building technologically advanced and highly customized offshore vessels.
Swiber Holdings rated ‘outperform’ by CIMB
February 7th, 2012 |
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CIMB in a Feb 6 research report says: “Swiber announced US$216 million worth of construction contracts from Myanmar, Indonesia and Brunei. Its JV in Middle East, Rawabi has also secured US$38 million chartering contracts from Saudi Aramco.
Capitamall Trust – Corporate moves
February 7th, 2012 |
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Tan Wee Yan, Wilson has been appointed deputy CEO wef Feb 4
Work experience: Group CEO, Singapore Post Ltd; MD, NEC Asia Pte Ltd
Silverlake Axis rated ‘buy’ by DMG
February 7th, 2012 |
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DMG & Partners Research in a Feb 2 research report says: “Silverlake Axis (SLA), a leading software services and solutions provider that specialises in core banking system, has a flagship product which is widely used by established financial institutions in the region, including 40% of the top 20 largest banks in Southeast Asia.
Capitaland – Corporate moves
February 7th, 2012 |
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Wen Khai Meng has been appointed CEO, Capitaland Financial Ltd wef Feb 6
Work experience: CIO, Capitaland Ltd; CEO, CapitaLand Commercial Ltd
CH Offshore rated ‘hold’ by DBS
February 7th, 2012 |
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DBS Vickers Securities in a Feb 2 research report says: “2Q12 recurring net profit of US$7.7 million (-8% y-o-y) was in line with expectations. Revenue was down 19% y-o-y to US$13.7 million on a smaller fleet, as CHO had disposed 3 vessels to its associate in FY2011 to comply with the Indonesian Cabotage Regulations.
Perennial China Retail Trust rated ‘buy’ by DBS
February 7th, 2012 |
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DBS Vickers Securitie in a Feb 3 research report says: “In its last circular issued to unitholders, PCRT is seeking unitholders’ approval for the acquisition of a 50% stake in Chengdu Longemont Mall (CLM) for RMB2.28 billion.
Starhub rated ‘neutral’ by Phillip Securities
February 7th, 2012 |
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Phillip Securities Research in a Feb 3 research report says: “Starhub’s FY2011 results were significantly above our estimates of $301 million. Sales were higher on very strong postpaid ARPU of $76 for the 4th quarter, which was 4% higher as compared to the same period last year.
Qingmei Group Holdings rated ‘buy’ by CIMB
February 7th, 2012 |
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CIMB in a Feb 6 research report says: “Qingmei is currently a vertically integrated manufacturer of mid- to high- end sports shoe soles. With a projected yield of 14.3% in FY12F, this stock is a steal at current price.
STI up 0.2%, or 6.49 points, at 2,946.59 by midday
February 7th, 2012 |
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Singapore shares rose slightly on Tuesday, outperforming regional markets as energy and commodity-related stocks gained on positive sentiment toward the sector.
By 1:00 p.m., Singapore’s Straits Times Index was up 0.2%, or 6.49 points, at 2,946.59. Some 1.5 billion shares worth $845.4 million were traded, compared with 1.77 billion shares worth $1.1 billion at the same time on Monday.
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