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Jun 24, 2014

Singapore proposes new liquidity rules for banks to manage risks

SINGAPORE, June 24 (Reuters) – Singapore is to bring in new
rules to ensure all banks operating in the city-state have
enough liquid assets to withstand a sudden shock to the
financial system, falling in line with the global regulatory
trend for tougher liquidity rules.

DBS, Oversea-Chinese Banking Group and
United Overseas Bank, and foreign banks with a major
local presence will have to meet a requirement proposed by the
Basel Committee on Banking known as the liquidity coverage ratio
(LCR) by 2015, Lim Hng Kiang, Singapore’s trade and industry
minister, said in a speech on Tuesday.

Jun 23, 2014

Thai tycoon Charoen to raise close to $300 mln in Singapore hospitality trust IPO

SINGAPORE, June 23 (Reuters) – A trust housing Thai
billionaire Charoen Sirivadhanabhakdi’s hotels and hospitality
assets plans to raise nearly $300 million in a Singapore listing
cementing the bourse’s status as a home for investments bearing
steady yields rather than the hot growth stocks popular in Hong
Kong.

The listing of Frasers Hospitality Trust (FHT) marks the
first step in merging the property assets of Charoen’s business
empire, including Frasers Centrepoint Ltd and his TCC
Group. Charoen acquired the operations when he took over
conglomerate Fraser and Neave in an $11 billion deal
last year, and will use proceeds from the sale for working
capital and property acquisitions.

May 16, 2014

Lost flight MH370 tips Malaysian Airlines toward another year in red

KUALA LUMPUR/SINGAPORE (Reuters) – Malaysian Airlines said the “dramatic impact” of the vanishing of flight MH370 pushed the serial loss maker to its worst quarter in over two years, hit by a sharp drop in overall passenger traffic and a slump in sales in China.

In a statement on Thursday, Malaysian Airline System Bhd (MAS) (MASM.KL: Quote, Profile, Research, Stock Buzz) said its first-quarter net loss expanded by nearly two-thirds to 443.4 million Malaysian ringgit ($138 million) from 278.8 million ringgit a year earlier.

May 15, 2014

Lost flight MH370 tips Malaysian Airlines into worst quarter in over two years

KUALA LUMPUR/SINGAPORE (Reuters) – Malaysian Airlines said the “dramatic impact” of the vanishing of flight MH370 pushed the serial loss maker to its worst quarter in over two years, hit by a sharp drop in overall passenger traffic and a slump in sales in China.

In a statement on Thursday, Malaysian Airline System Bhd (MAS) said its first-quarter net loss expanded by nearly two-thirds to 443.4 million Malaysian ringgit ($138 million) from 278.8 million ringgit a year earlier.

May 15, 2014

Malaysian Airlines plans next reboot to tame costs, regain market share

SINGAPORE, May 15 (Reuters) – Malaysia Airlines is going
through a “thorough review” of its business plan to ensure it
can sustain operations in the longer term, the loss-making
company said in a statement late on Wednesday.

Addressing “intense speculation”, the company also said it
is exploring all avenues to win back customers and control
costs.

May 14, 2014

Malaysian Airlines earnings set to show financial burden of loss of MH370

SINGAPORE (Reuters) – Malaysian Airlines will report first-quarter earnings later on Thursday that are set to provide confirmation of just how badly the already loss-making carrier’s finances have been hit by the vanishing of flight MH370 on March 8.

Struggling for years to cope with high costs and nimbler regional and international rivals, Malaysian Airline Systems Bhd’s (MASM.KL: Quote, Profile, Research, Stock Buzz) quarterly performance has been made so uncertain by reduced traffic and potential costs linked to the jet’s unexplained disappearance that analysts say they simply can’t issue January-March estimates.

May 12, 2014

Struggling Malaysian Airline taps banks for restructuring-sources

SINGAPORE, May 12 (Reuters) – Malaysian Airline System Bhd
and its key stakeholders are in talks with banks for a
strategic overhaul that could include the partial sale of its
engineering unit and an upgrade of its ageing fleet, sources
involved in the discussions said.

Even before the loss of its flight MH370 from Kuala Lumpur
to Beijing on March 8 there was talk that loss-making MAS might
need a financial rescue from state investor Khazanah Nasional
Bhd, which owns 69 percent of the company.

Apr 30, 2014

DBS, OCBC post record quarterly profit; reassure on China exposure

SINGAPORE (Reuters) – Singapore’s DBS Group Holdings (DBSM.SI: Quote, Profile, Research, Stock Buzz) and Oversea-Chinese Banking Corp (OCBC.SI: Quote, Profile, Research, Stock Buzz) reported record first-quarter profit that topped market forecasts, powered by double-digit loan growth and improved margins.

The results also showed the banks’ asset quality has not been affected by deteriorating bad debt problems in China and came despite slower growth in Singapore’s housing market.

Apr 17, 2014

Singapore no home for luxury developers as cooling measures bite

SINGAPORE (Reuters) – Luxury property developers in Singapore are facing their worst sales outlook in six years as a raft of government measures to cool one of the world’s most expensive real estate markets bite.

Sales of private homes, which account for just under one-fifth of the total property market, fell to their lowest in more than four years in January to March, official data showed this week. If the decline continues at the same pace for the rest of this year, analysts expect sales to halve from the 15,000 units sold in 2013.

Apr 14, 2014

CapitaLand offers $2.5 billion to buy out minority holders in shopping mall unit

SINGAPORE (Reuters) – CapitaLand Ltd (CATL.SI: Quote, Profile, Research, Stock Buzz), Southeast Asia’s biggest property developer, said it has offered S$3.06 billion ($2.45 billion) to buy out minority shareholders in its 65-percent owned CapitaMalls Asia Ltd (CMAL.SI: Quote, Profile, Research, Stock Buzz) business.

In a deal that would simplify its corporate structure and taking advantage of a discount valuation at the unit, CapitaLand said on Monday it’s offering S$2.22 per share in CapitaMalls, a shopping malls operator. That represents a 23 percent premium to last Friday’s CapitaMalls closing share price of S$1.80.

    • About Anshuman

      "Anshuman Daga has been with Reuters since 13 years, most of that tracking companies and equity markets. After joining in Mumbai, Anshuman did a stint in India's technology hub of Bangalore and then spent a few years covering European stock markets in London. He moved to Singapore in 2008, with a focus on news coverage of Southeast Asia and technology stories from Asia."
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