The European Commission should avoid “over-zealous” regulation of the freight-derivatives industry, according to the Baltic Exchange, the world’s biggest publisher of oil and commodity shipping costs.
The over-the-counter freight derivatives market already developed in a way that’s “desired by regulators,” the London- based exchange said today in an e-mailed statement. Traders would switch their business to Switzerland or Singapore if they faced more regulation here, it said.
ComfortDelGro Corp. was rated “buy” in new coverage at BNP Paribas, which cited the outlook for earnings and said the company stands a “good chance” of winning the tender for a new subway line in Singapore.
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Lippo-Mapletree Indonesia Retail Trust (LMRT SP), an Indonesian shopping mall operator jointly owned by Lippo Group and Temasek Holdings Pte’s Mapletree Investments added 1.1% to 46 cents. Oversea-Chinese Banking Corp. upgraded the stock to “buy” from “hold” and raised its share-price estimate to 50 cents from 24 cents.
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CDL Hospitality Trust (CDREIT SP), a hotel operator partly owned City Developments, gained 1.7% to $1.23. JPMorgan Chase & Co. raised its rating on the stock to “overweight” from “underweight.”
Singapore Telecommunications (ST SP): SingTel, as Southeast Asia’s biggest telephone operator is known, dropped 2.3% to $3.42. DBS Group Holdings cut its rating on SingTel to “hold” from “buy,” saying its shares have already priced in potential positive news on earnings. The company is expected to announce earnings for the first-quarter ended June 30 on Aug 13.
Singapore Telecommunications (ST SP), Southeast Asia’s biggest telephone operator, dropped 2% to $3.39. The company was cut to “hold” from “buy” at BNP Paribas, which said valuations are now “fair” following the stock’s gain this year.
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Temasek Holdings Pte’s decision to consider managing money for outside investors may help it overcome foreign governments’ concerns about sovereign wealth fund investment and drive expansion over the next decade.
The Singapore fund may seek “sophisticated co-investors” in five to eight years and retail investors in the next eight to 10 years, Chief Executive Officer Ho Ching said during a speech in Singapore yesterday. Temasek has been exploring the plan for the past three years and may have a “clearer” picture of the platform it will adopt in the next 12 months, she said.
Temasek Holdings Pte’s decision to consider managing money for outside investors may help it overcome foreign governments’ concerns about sovereign wealth fund investment and drive expansion over the next decade.
The Singapore fund may seek “sophisticated co-investors” in five to eight years and retail investors in the next eight to 10 years, Chief Executive Officer Ho Ching said during a speech in Singapore yesterday. Temasek has been exploring the plan for the past three years and may have a “clearer” picture of the platform it will adopt in the next 12 months, she said.
Singapore Telecommunications was cut to “hold” from “buy” at BNP Paribas, which said valuations are now “fair” following the stock’s gain this year.
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Demand in Singapore’s property market may not be sustained because of economic uncertainty and ample supply, National Development Minister Mah Bow Tan said.
The city-state is “monitoring the market closely” to ensure speculation in the property market doesn’t lead to a bubble forming, Mah told reporters today in Singapore.
“I think some of the practices and habits you saw in the last property boom are beginning to come back,” said Mah. “We will take whatever actions necessary to prevent such a situation from happening, but it is important for buyers themselves to be aware.”
Temasek Holdings Pte vowed to hang on to the “family jewels” as a long-term investor and said it may allow the public to invest in Singapore’s state-run fund.
The value of the company’s assets dropped by more than $40 billion in the 12 months ended March, Chief Executive Officer Ho Ching said in a speech in Singapore today. The investment firm will act to enhance value over as long as 30 years and will not sell stakes “for divestment’s sake,” Ho said.
Temasek Holdings Pte, the Singapore state-owned investment company, may invite the public to co-invest, Chief Executive Officer Ho Ching said in a speech in Singapore today.
It may also seek “sophisticated investors” in five to eight years and retail investors in the next eight to 10 years, she said.
“Over the longer term, we are exploring the feasibility of creating one more group of stakeholders,” she said. “We can do this by inviting the public to co-invest with Temasek.”
DBS Group Holdings (DBS SP), Southeast Asia’s biggest bank, declined 0.9% to $13.60. The company was downgraded to “neutral” from “outperform” at CIMB Investment Bank Bhd., which said the stock’s recent had been excessive.
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The murder victim’s sexual orientation is not a reason to keep gays and lesbians from serving in the US armed forces; it’s a matter of prosecuting those who harass, maim and kill.
