The US welcomes India’s greater involvement in East Asia and is committed to working with New Delhi as it increases ties with US allies in Southeast Asia and Japan, a senior US official has said. “Ultimately, we think that India’s role in the Asian-Pacific region stands to be one of the most important new developments [...]
Posts Tagged ‘Asia’
US welcomes emerging India’s role in Asia Pacific
February 3rd, 2011 |
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Genting’s Resorts World Sentosa signs $4.2b of loans
February 2nd, 2011 |
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Resorts World Sentosa, a unit of Genting Singapore Plc, Asia’s biggest casino operator by market value, borrowed $4.2 billion to refinance debt, including $3.5 billion in term loans and $500 million in revolving credit facilities, according to a Feb. 1 company statement. Nineteen lenders helped arrange the loans while a $192.5 million banker’s guarantee facility was provided by DBS Bank and Oversea-Chinese Banking Corp., according to the statement.
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Hup Soon Global Corp – Corporate moves
February 1st, 2011 |
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Atsushi Tomita has been appointed MD, Anglo-Thai Co Ltd and United Motor Works (Siam) Public Co Ltd
Work experience: MD, Nichiyu Asia (Thailand) Co Ltd; MD, Nichiyu Asia Pte Ltd; MD, Nichiyu Australia Pty Ltd
World Bank opens public voting on ‘Apps for Development’
February 1st, 2011 |
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The World Bank has opened public voting on the applications submitted to the Apps for Development Competition that challenged software developers to get new perspectives in identifying solutions to development problems. The Popular Choice Award will be determined by public vote and the winner will receive a cash award and a feature on the World [...]
S’pore NOL carries 26% more cargo in 7 weeks to Dec 31
January 31st, 2011 |
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Neptune Orient Lines (NEPS.SI) said on Monday its container shipping volumes for the seven weeks to Dec 31 rose 26% from a year ago, helped by higher traffic on the intra-Asia and Asia-Europe routes.
NOL, the world’s sixth largest container shipping firm, carried 394,500 forty-foot equivalent unit (FEU) during the seven-week period, up from 312,500 FEUs a year ago.
Volumes rose 8% over the same period last year on a normalised six-week period, the firm said.
The average revenue per FEU increased 21% year-on-year over the same period to US$2,647 ($3,396) per FEU, helped by improved freight rates on major trade lanes, in particular Tran-pacific and Asia-Europe.
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BRC Asia posts 52% fall in 1Q net profit to $3.3m
January 31st, 2011 |
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Mainboard-listed BRC Asia, one of the largest prefabricated steel reinforcement providers in Singapore, says net profit for first quarter ended 31 December 2010 (1Q2011) fell 52% y-o-y to $3.3 million due to rising steel costs and intense market competition which halved gross profit margin to 9.2% in 1Q2011 from 18.8% in 1Q2010. Revenue for first quarter ended 15% higher y-o-y to $72.4 million due to higher sales volume amidst buoyant construction activities in Singapore.
Brocade – Corporate moves
January 31st, 2011 |
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Ravi Saxena has been appointed regional director, Service Provider business, Asia Pacific wef January 2011
Work experience: VP, Service Provider Business Development, Cisco Systems, India
Regional economic forum announced for July
January 28th, 2011 |
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Austrian Foreign Minister Michael Spindelegger announced that a regional forum of the World Economic Forum will be held in Vienna at the beginning of July 2011. Eastern Europe and Asia will be the focus of the forum which should gather about 50 participants, including heads of state and government, as well as economic and civil society representatives, Spindelegger stated at the margins of the World Economic Forum in Davos, Switzerland.
GIC says US to remain focus of investments as growth slows
January 28th, 2011 |
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The US will remain the Government of Singapore Investment Corp.’s biggest area for investments for years, even as emerging markets grow faster, Deputy Chairman Tony Tan said.
“There is a major transfer of wealth from the developed countries to the developing countries in Asia,” Tan said today in an interview at the World Economic Forum meeting in Davos, Switzerland. “But it does not mean that for us in GIC, as an international investor, that we do not see opportunities, certainly in the US but even in Europe, because prices have gone so low.”
India targets $1 trillion infrastructure investment: Ahluwalia
January 28th, 2011 |
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India will double its investments in infrastructure to $1 trillion during the 11th Five Year Plan that begins 2012, with half of that expected from the private sector, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said. Speaking at the annual meeting of the World Economic Forum at this Swiss ski resort, the key policy [...]
Ascott Residence hopes to double assets, eyes new market
January 26th, 2011 |
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Ascott Residence Trust (ART) (ASRT.SI), which owns serviced apartments in Europe and Asia, is expanding into growth markets like India and Vietnam as it hopes to double assets over the next five years or so , its chief executive officer said.
Chip Shot: Girls’ Generation Rocks Asia in Support of Intel Core Launch
January 25th, 2011 |
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Girls’ Generation, one of Korea’s most popular pop groups, debuted its new song, ‘Visual Dreams’, with concepts and lyrics inspired by Intel’s ‘Visibly Smart’ 2nd Generation Core processors. Within a week, the music video on YouTube already has a combined viewership of over 2 million. Be sure to catch the end of the video for a creative and ‘pop’ twist on the Intel bong.
K-Reit Asia upgraded to ‘neutral’ by CIMB
January 25th, 2011 |
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CIMB in a Jan 21 research report says: “K-REIT completed an asset swap of Marina Bay Financial Centre Phase One (MBFC 1) and KTGE Tower and the acquisition of 77 King Street in Australia in December 2010. 4Q10 DPU of 1.7 cents broadly met our expectations and consensus, accounting for 26% of our FY2010 forecast.
DHL Express – Corporate moves
January 25th, 2011 |
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Roger Crook has been appointed CEO, Asia/Pacific, Eastern Europe and Middle East regions (APEM) wef Jan 1
Work experience: COO, Global Customer Logistics Express group and Global Customer Solutions division; country manager/commercial director, Global, Europe, the Middle East and Africa, DHL Express
Shares flat at midday on inflation woes, Keppel Land up
January 25th, 2011 |
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Singapore shares were flat by the midday break on Tuesday as concerns over inflation and tightening policies in Asia weighed on sentiment, but property developer Keppel Land (KLAN.SI) outperformed the market following its strong earnings.
By the break, the Straits Times Index (STI) <.FTSTI> was up 1.44 points at 3,187.20. The total value of shares traded in the morning session was $845.1 million, up from $562.1 million
IBM, China’s Range to Build Asia’s Largest Cloud Storage Center
January 25th, 2011 |
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In a new partnership with Chinese Range Technology Development and the Hebei provincial bureau of industry, IBM will build the largest, most advanced cloud-enabled data storage center in China. – In March 2010, IBM announced that it
would begin investing big time in selling and building cloud computing systems
in China.
On Jan. 24, the huge American IT company made good on at least part of the
promise by announcing that it will partner with Chinese Range Technology
Development and the…
Robert Shiller Argues That Rising Inequality In The US Was A Major Cause Of The Recent Crisis, And Little Is Being Done To Address It
January 24th, 2011 |
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I have previously argued at some length that rising inequality is one of the main causes of the economic crisis.Famed Yale economist Robert Shiller agrees.As the Browser reports:Yale economist Robert Shiller argues that rising inequality in the US was…
K-REIT +0.7% in low volume post 4Q; $1.47 Cap N/T
January 21st, 2011 |
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K-REIT Asia (K71U.SG) is up 0.7% at $1.45 after posting 4Q results with distribution per unit of 1.71 cents, +17.9% on year and +1.2% on quarter.
But trade amounts to just 223,000 units changing hands, with investors’ interest subdued as the units are currently at their highest level since January 2008, while the market’s upbeat view on Singapore’s office sector has seen the units rise fairly steadily since K-REIT’s October announcement of an asset swap with Keppel Land (K17.SG) involving the acquisition of one-third interest in MBFC Phase 1.
Jan 21: Ascott, K-REIT Asia, ST Engineering
January 21st, 2011 |
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The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close.
Singapore’s Straits Times Index dropped 1.1% to 3,205.48.
Ascott Residence Trust (ART SP): The serviced apartment operator partly owned by CapitaLand (CAPL SP) said fourth- quarter distributable income doubled to $23.9 million from $11.5 million a year ago. The stock lost 0.8% to $1.22.
K-Reit distributes 6.78 cents per unit in 4Q
January 20th, 2011 |
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K-Reit Asia, a Singapore property trust, said its fourth-quarter distribution per unit rose to 6.78 cents from 5.72 cents a year earlier.
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