SINGAPORE, Feb 26 (Reuters) – Asian commodities trader Noble
Group Ltd reported its first quarterly loss in three
years and took impairment charges of over $400 million, days
after it was hit by allegations of aggressive accounting from an
obscure research firm.
The Singapore-listed company said it had swung to a
fourth-quarter net loss of $240 million compared to a profit of
$117 million a year ago. The loss, which analysts said was
unexpected, was the first since the quarter ended September
2011, Reuters data shows.
SINGAPORE, Feb 24 (Reuters) – Singapore Exchange Ltd (SGX)
said on Tuesday that Magnus Bocker will step down as
chief executive on June 30 at the end of his contract.
Singapore is Asia’s leading venue for foreign exchange and
has seen strong growth in derivatives trading, but the average
daily value of shares traded on its exchange has dropped below
that of Thailand and trails far behind Hong Kong and Tokyo.
SINGAPORE (Reuters) – Budget airline Citilink, owned by PT Garuda Indonesia Tbk (GIAA.JK: Quote, Profile, Research, Stock Buzz), is set to turn profitable this year, partly boosted by the government’s crackdown on cheap fares, its chief executive said.
Albert Burhan, who was appointed as Citilink’s CEO this month, said the airline is looking to report its first annual profit in 2015 after it started operations in late 2011.
SINGAPORE, Feb 10 (Reuters) – Singapore’s DBS Group Holdings
saw its China bad debt provisions quadruple in the
latest quarter but the bank played down the risks for its loan
book, saying much of jump was due to one soured loan to a copper
DBS said it was not worried about its China portfolio as
most of its loans were trade finance loans to banks, but Chief
Executive Piyush Gupta warned the country’s anti-corruption
drive as well as debt woes in certain corporate sectors may lead
to some unexpected surprises.
JAKARTA/SINGAPORE, Jan 30 (Reuters) – Budget airline AirAsia
Bhd resumed online promotions and advertising this
week, a month after a plane operated by its Indonesia affiliate
crashed into the Java Sea, killing all 162 people on board.
AirAsia CEO Tony Fernandes had imposed a moratorium on
advertising after the Dec. 28 crash of the Indonesia AirAsia
plane, which Indonesian investigators said on Thursday was being
controlled by the co-pilot when it fell into the sea.
SINGAPORE (Reuters) – Singapore Exchange Ltd’s (SGXL.SI: Quote, Profile, Research) chief executive said on Wednesday he is looking to emulate the much-heralded Stock Connect link between Hong Kong and Shanghai by formally linking together Southeast Asian bourses.
With a plan already in the works to form a stock trading link with Taiwan later this year, Magnus Bocker told Reuters that establishing direct connections between exchanges has replaced mergers and acquisitions as the industry’s main growth strategy, particularly in Asia.
SINGAPORE, Jan 13 (Reuters) – Brazilian aircraft maker
Embraer SA is supplying its first jets to an
Indonesian airline as cost-conscious Southeast Asian carriers
seek smaller planes to serve the region’s second-tier cities
more efficiently than large aircraft.
Embraer said on Tuesday that Kalstar Aviation, based in
Indonesia’s Kalimantan province, is leasing two E-195 planes
from Ireland’s Aldus Aviation. The world’s largest maker of
regional aircraft has nearly 200 commercial planes in service in
Asia Pacific with 20 operators.
SINGAPORE/MANILA, Jan 12 (Reuters) – Global Ferronickel
Holdings Inc, the Philippines’ No. 3 nickel producer, is
expected to raise $600 million in a Manila IPO in March, sources
said, taking advantage of higher prices and exports triggered by
a ban on shipments of ore from Indonesia.
One banking source familiar with the matter said
pre-marketing for the issue, aiming to raise as much as 26.98
billion pesos in the first local commodity IPO since Coal Asia
Holdings Inc in 2012, would start in early March.
SINGAPORE/NEW YORK (Reuters) – Australian bank Macquarie Group Ltd’s aircraft leasing subsidiary is in exclusive talks to buy a portfolio of new planes from Dublin-based lessor AWAS for more than $4 billion, according to people familiar with the matter.
Macquarie AirFinance is negotiating a deal for just under 100 newly built and on-order aircraft being sold by AWAS, the people said. Macquarie is working to finalise an agreement before the end of January, they said, asking not to be named because the matter was confidential.
SINGAPORE (Reuters) – The rapid growth in Southeast Asia’s airline industry is showing up the pressing need for reforms to the region’s fragmented safety framework, with a lack of streamlined standards on air navigation and staff training.
The Association of Southeast Asian Nations (ASEAN) has no regional agencies overseeing aviation safety or co-ordinating air traffic control, unlike in the more developed European market.