ICT magazine

PacNet (formerly Asia Global Crossing), the largest submarine cable telecommunications company in Asia Pacific, partnered with SubCom, the contracted international supplier of undersea communications systems and services, to do this job. PacNet and SubCom will turn on the power for data flow March 20. - SAN FRANCISCO ...

Ascendas Real Estate Investment Trust’s notes sold today have a structure making them the first of their type in Asia, and means a rating seven rungs higher than Ascendas, Moody’s Investors Service said, according to Bloomberg. The $300 million of 1.6%, seven-year notes, a type of commercial mortgage-backed security with ...

Singapore Technologies Telemedia will pay 1 billion ringgit ($421.9 million) for a 33% stake in U Mobile Sdn Bhd, including subscribing to a rights issue by the Malaysian 3G mobile services provider. The acquisition is a “strategic decision” by ST Telemedia to build a strong business in Asia, said ...

Yongnam Holdings (Y02.SG) has gained 1.9% to hit two-month high of $0.27 in active trade, extending Friday’s 10.4% gain, reported Dow Jones Newswires. Newsflow on construction group has been thin since release of 4Q09 results late last month, but investor interest unabated based on expectations Yongnam well-positioned to land ...

Daiwa has downgraded K-REIT Asia (K71U.SG) to “sell” from “underperform” saying recent share price performance looks unjustified, reported Dow Jones Newswires. Says current market value of office REIT is assuming valuations for office assets that look too high, given Singapore office market volatility, large new supply of office space ...

Singapore Airport Terminal Services (S58.SG) headed as high as $2.68 this morning as recent upbeat news from aviation sector lends support, reported Dow Jones Newswires. OCBC Investment Research notes the International Air Transport Association halved its 2010 loss forecast for airlines last week, driven by economic recovery in Asia-Pacific ...

Barack Obama's off-again-on-again trip to Asia• BARACK OBAMA is set for a trip to Asia, beginning with a stop at his boyhood home of Indonesia. But the visit, originally set to start on Thursday March 18th, will be delayed until Sunday 21st so Mr Obama can be present to give ...

Russia has signed an agreement with India to build up to 16 nuclear reactors for power stations. In striking this deal, Asia’s third largest economy is reaffirming old cold war ties.

Samsung is one handset company that seemingly benefited from the Chinese New Year and a strong start to the 2010 global handset market, according to a new report. Led by Asia and Latin America, the Year of the Tiger is predicted to be a good one for handsets, which should ...

CapitaMalls Asia shares rose to a two-month high in Singaporean trading after the company was chosen to replace Cosco Corp. Singapore in the Straits Times Index following the conclusion of a half-yearly review, reported Bloomberg.   The changes will take effect from March 22, according to a statement yesterday from Singapore Exchange, ...

Courts Asia, a furniture and electronics retailer with operations in Singapore and Malaysia, has filed a draft prospectus for an initial public offering in Singapore, according to a central bank website. Read more...

Boe Pahari has been appointed head of Infrastructure Asia Pacific wef March 2010 Work experience: Mr Pahari has over 20 years experience in the financial services industry. He started his career at Citigroup in Sydney and subsequently worked for more than 13 years with ABN AMRO based in Singapore, Amsterdam, ...

DBS Vickers has downgraded Straits Asia Resources (AJ1.SG) to “hold” from “buy”, citing lack of catalysts and rich valuations vs Indonesian peers. It has also cut the target price to $2.30 from $3.20 after reducing FY10-11 EPS estimates by 15%-17% to assume lower volume, higher operating costs, reported Dow Jones ...

Baxter Jolly has been promoted to vice chairman, Weber Shandwick Asia Pacific wef March 2010 Work experience: MD, Southeast Asia, Weber Shandwick

The Singapore market recovered from earlier losses at the end of yesterday’s trading, finishing slightly higher. The key Straits Times Index rose 0.41% to 2,873.91. In the broader market, gainers edged out losers by just five counters. Last night, the S&P 500 hit a 17-month closing high as rising ...

Indian hospital chain Fortis Healthcare (FOHE.BO) will buy 23.9% of Singapore’s Parkway Holdings (PARM.SI) from US buyout firm TPG Capital in an expansion drive into Asia and the Middle East. The $959 million deal will give Fortis a foothold in Singapore and Malaysia and make it the biggest private ...

Where employers are most optimistic, and pessimisticIN 27 out of 36 countries surveyed by Manpower, an employment-services firm, more companies said they expected to add jobs in the three months to the end of June than said they reckoned on reducing their workforce. The difference between the proportion of hirers ...

Singapore Exchange (SGX), the FTSE Group (FTSE) and Singapore Press Holdings (SPH) announced today that CapitaMalls Asia will replace Cosco Corp Singapore as a constituent of the Straits Times Index (STI) following the conclusion of the half-yearly review. Read more...

DBS Vickers has started coverage of CapitaMalls Asia (JS8.SG) at “buy” with $2.51 target price, based on 1.1x NAV estimate, reported Dow Jones Newswires. Says mall operator’s appeal lies in its pan-Asian exposure to stable, resilient retail asset class, “with a scalable model that spans the entire value chain”....

Singapore’s Straits Times Index gained 0.8% to 2,862.29 at the close. Four stocks advanced for each that fell on the 30-member gauge.   Shares on the measure trade at 14.9 times estimated earnings, compared with about 17.5 times at the start of 2010, according to data compiled by Bloomberg. The following shares were ...