Singapore Morning News For May 19

Singapore Morning News For May 19

Singapore morning news

Noble Group lifeline depends on bank support for $2b loan
Noble Group Ltd.’s stock and bonds rose Thursday after people familiar with the matter said the embattled commodity trader has approached lenders to replace a credit facility with a new $2 billion loan. Now investor focus shifts to bank support for that lifeline.
– Deal Street Asia

Singapore Airlines swings to S$138m net loss in Q4
Singapore Airlines (SIA) on Thursday (May 18) reported a net loss of S$138 million in its fourth quarter from January to March, reversing from a S$225 million net profit in the same period last year.
– Channel NewsAsia

Singapore Land Gets Record S$1 Billion Bid From China Buyers
A residential plot in Singapore may fetch a record price for a government land sale, with a Chinese consortium putting in the highest bid at S$1 billion ($718 million).
– Bloomberg

GLP Q4 profit jumps 62%, boosted by higher asset values
Global Logistic Properties, the GIC-backed owner of modern warehouses and distribution centres, posted a 62 per cent surge to US$247 million (S$344.1 million) in fourth-quarter net profit compared to US$153 million in the year-ago period, driven by higher asset values.
– The Straits Times

Singapore banks pop the champagne on growing wealth management business
The recent performances of the three banking giants in Singapore have put a spotlight on wealth management as a new driver of growth for the industry.
– Singapore Business Review

Singapore Telecommunications Limited’s Latest Earnings: Lower Revenue and Profit for The Year
Earlier this morning, Singapore Telecommunications Limited (SGX: Z74) reported its fourth quarter and full-year earnings for its fiscal year ended 31 March 2017 (FY2017).
– The Motley Fool

Sats Q4 profit rises 31.4% on higher revenue, one-off goodwill recognition
Sats reported on Friday (May 19) a 31.4 per cent rise to S$66.6 million in fourth-quarter net profit compared to a year ago, on higher revenue and boosted by a big one-off goodwill recognition.
– The Straits Times

Singapore Airlines to re-integrate SIA Cargo division
SIA Cargo, a wholly owned subsidiary of Singapore Airlines (SIA), will be re-integrated as a division within the SIA group, the national carrier announced in a media release on Friday (May 19).
– Channel NewsAsia

Driverless trucks to help run Singapore chemical company
A chemicals company in Singapore is planning to introduce driverless trucks guided by GPRS in a bid to reduce its need for truck drivers.
– The Star Online

S’pore ‘can be world’s biggest commodity trading hub’
Singapore has the potential to become the world’s largest commodity trading hub in the decade ahead as trade flows shift towards Asia.
– The Straits Times

Starhill Global Real Estate Investment Trust: 3 Things Investors Should Know From Its Latest Earnings
Starhill Global Real Estate Investment Trust (SGX: P40U) is a REIT that focuses on investing in retail and commercial properties in the Asia Pacific region.
– The Motley Fool

HPB: Focus on good diet for kids instead of formula brand
The Health Promotion Board (HPB) will be kicking off a multi-year campaign aimed at educating parents on the nutritional needs of children by the end of the month. The move comes amid a public debate over the high prices and the nutritional value of infant formula.
– The New Paper

Temasek picks majority stake in Global Healthcare Exchange
Singapore’s state investment fund Temasek Holdings has acquired a majority stake in Global Healthcare Exchange (GHX), a provider of connected, intelligent healthcare supply chains. Financial details of the transaction were not disclosed.
– Deal Street Asia

Singapore firms to focus on local investments and hold off on foreign ventures
The recent survey by American Express revealed that larger firms in Singapore would likely focus on investing in the local market rather than overseas.
– Singapore Business Review

STB issues call for proposals to tackle problems faced by hotels and travel agents
The Singapore Tourism Board (STB) is crowdsourcing ideas to tackle problems faced by hotels and travel agents.
– The Straits Times

 

Feature photo Jason Goh
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