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
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.
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.
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.
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.
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.
SINGAPORE, April 4 (Reuters) – Singapore is hoping that
building expertise in high-tech niches such as 3D printing and
robotics will let it sustain a large manufacturing sector
despite the exit of many labour-intensive industries to cheaper
bases elsewhere in Asia.
In line with government efforts to lift productivity and cut
reliance on foreign workers – whose big numbers have made
citizens unhappy – Singapore’s Economic Development Board (EDB)
no longer courts multinational companies that want to employ
many low-cost employees.
SINGAPORE April 3 (Reuters) – Singapore’s police force and
central bank are looking into suspected trading irregularities
in three companies at the centre of last year’s penny-stock
crash that led to a sharp fall in trading volume in the
city-state’s equity market.
Share prices in Blumont Group Ltd, LionGold Corp
Ltd and Asiasons Ltd plunged last October,
wiping out around S$8 billion ($6.35 billion) in market value in
just two days after huge run-ups. The scandal led to a series of
proposed reforms to the city-state’s stock trading rules.
SINGAPORE/KUALA LUMPUR (Reuters) – Even before the loss of its Flight MH370, Malaysian Airline System (MAS) (MASM.KL: Quote, Profile, Research, Stock Buzz) was bleeding cash, prompting talk that it may need another financial rescue from state investor Khazanah Nasional Bhd, its majority shareholder.
The flag carrier’s cash and short-term investments at end-December were close to $1.2 billion – less than its average operating costs of the two previous quarters, and a signal that it may soon need fresh funding or bank loans.
KUALA LUMPUR (Reuters) – Investigations into the mystery of a missing Malaysian jet appeared to be at a deadlock on Wednesday, with no conclusive evidence of foul play and doubts whether nations would share military tracking data that could show where the plane may have headed.
Eleven days have passed since Malaysia Airlines (MASM.KL: Quote, Profile, Research) Flight MH370 went missing, and 26 nations are struggling to search for the airliner over an area more than two-thirds the size of the continental United States.