SINGAPORE, Jan 15 (Reuters) – The number of private homes
sold by developers in Singapore in December fell more than 80
percent from a year earlier, with the property industry bracing
itself for a tough 2014 as a series of government measures to
cool the market start to bite.
With developers putting few big new projects on to the
market and potential buyers hampered by rules limiting how much
they can borrow, only 259 units were sold last month in the city
state, the lowest number since January 2009, according to
figures from the Urban Redevelopment Authority (URA).
MANILA/SINGAPORE, Jan 8 (Reuters) – Singapore’s Tigerair is
selling its Philippine business to Cebu Pacific, the
archipelago’s biggest airline, leaving just three main players
in a market flush with planes but thin on passengers.
Tigerair, which has lost millions of dollars since buying
into the budget carrier about 18 months ago, is turning its
attention to partnerships to build scale. Cebu Pacific is
betting on longer-term growth to propel traveller numbers beyond
SINGAPORE (Reuters) – Singapore’s Oversea-Chinese Banking Corp (OCBC.SI: Quote, Profile, Research) is in exclusive talks to buy Hong Kong’s Wing Hang Bank Ltd (0302.HK: Quote, Profile, Research), a deal that has raised concerns about its estimated $5.3 billion price tag and the likely need to tap shareholders for funds.
The acquisition would be OCBC’s biggest and would give it a much sought after gateway to China. The purchase would also help it bridge the gap with domestic rival DBS Group Holdings (DBSM.SI: Quote, Profile, Research), which operates Hong Kong’s fifth-biggest bank.
SINGAPORE, Jan 6 (Reuters) – Singapore OCBC’s bid to take
over Hong Kong’s Wing Hang Bank Ltd in a deal
estimated at $5.3 billion has raised concerns it may be paying
too much for a mid-sized bank and will be tapping shareholders
to fund the acquisition.
Oversea-Chinese Banking Corp, Singapore’s
second-biggest bank, has begun exclusive talks with Wing Hang,
offering nearly twice the Hong Kong lender’s book value, two
people familiar with the deal told Reuters on Friday.
SINGAPORE, Dec 23 (Reuters) – Singapore’s mid-tier property
developers are laying the first stones of their overseas
business as domestic sales plunge, land prices climb, and
foreign rivals bet high stakes on the city-state’s long-term
Hiap Hoe Ltd and Oxley Holdings Ltd
followed sector leader CapitaLand Ltd this year by
going abroad. At home, government action to slow the rise of
record-high prices led to a 50 percent drop in third-quarter
private home sales.
JAKARTA/SINGAPORE, Dec 20 (Reuters) – On rainy days in
Jakarta, a canny street merchant like Emi can sell two dozen
sachets of herbal cold cure Tolak Angin to office workers and
labourers sniffling by her roadside stall.
“Herbal medicine is good for the body because it’s natural,”
says Emi, who goes by only one name. Laced with ginger, cloves
and mint leaves, the traditional remedy Emi sells for 25 cents
apiece is also good for business: The company that makes Tolak
Angin went public this week and is worth around $850 million.
SINGAPORE, Nov 20 (Reuters) – Fullerton Fund Management, a
unit of Singapore state investor Temasek Holdings (Pte) Ltd
, says progress in economic reform is encouraging it to
invest more in China, and that slow progress in India is
prompting it to invest less.
China has pledged to make the most sweeping economic changes
in nearly three decades, which could benefit sectors such as
consumer, infrastructure, insurance and clean energy, Fullerton
Chief Executive Manraj Sekhon said at the Reuters Global
Investment Outlook Summit on Wednesday.
SINGAPORE, Nov 13 (Reuters) – Struggling Singapore Airlines
Ltd is showing little sign of a recovery with
passenger yields falling to near four-year lows, highlighting
SIA’s eroding pricing power in a weak market for premium
SIA’s yields fell for the third consecutive quarter as it
faced stiff competition on its medium and long-haul routes from
Gulf carriers such as Emirates Airline and others including
Malaysian Airline System Bhd and Cathay Pacific
SINGAPORE, Oct 28 (Reuters) – Singapore conglomerate Straits
Trading Company Ltd is buying just over a fifth of
real estate fund manager ARA Asset Management Ltd in a
S$294.4 million ($238 million) deal it said would boost its
Straits Trading will acquire the 20.1 percent stake in ARA
from Cheung Kong Investment Company, a unit of Hong Kong tycoon
Li Ka-Shing’s Cheung Kong Holdings Ltd, and ARA Chief
Executive John Lim.
SINGAPORE (Reuters) – Singapore Exchange Ltd (SGXL.SI: Quote, Profile, Research, Stock Buzz)’s role as the city-state’s equity market regulator is coming under increasing scrutiny in the fall-out from a penny stock crash earlier this month.
The sudden implosion of Blumont Group Ltd (BLUM.SI: Quote, Profile, Research, Stock Buzz), LionGold Corp (LION.SI: Quote, Profile, Research, Stock Buzz), and Asiasons Capital Ltd (ASNS.SI: Quote, Profile, Research, Stock Buzz) – after huge run-ups in their share price earlier in the year had turned them briefly into billion dollar companies – left many in the market mystified and raised question marks over whether the exchange missed red flags and was too slow to act.