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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.

Apr 4, 2014

Singapore targets investment in ‘disruptive’ technologies

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.

Apr 3, 2014

Singapore probes companies at centre of penny-stock crash

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.

Mar 25, 2014

Struggling, Malaysian Airline may need government bailout

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.

Mar 19, 2014

Investigations into missing Malaysian jet appear deadlocked

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.

Mar 19, 2014

Investigations into missing Malaysia jet appear stalled

KUALA LUMPUR (Reuters) – Investigations into the mystery of the missing Malaysian jet appeared to be at a deadlock on Wednesday, with an exhaustive background search of the passengers and crew showing nothing untoward and no sign that the plane could be quickly found.

Eleven days have passed since Malaysia Airlines Flight MH370 went missing, and 26 nations are struggling to search for the airliner over an area roughly the size of Australia, or more than two-thirds the size of the United States.

Mar 19, 2014

Area of Malaysia plane search now size of Australia

KUALA LUMPUR (Reuters) – An international land and sea search for a missing Malaysian jetliner is covering an area the size of Australia, authorities said on Tuesday, but police and intelligence agencies have yet to establish a clear motive to explain its disappearance.

Investigators are convinced that someone with deep knowledge of the Boeing 777-200ER and commercial navigation diverted Malaysia Airlines Flight MH370, carrying 12 crew and 227 mainly Chinese passengers, perhaps thousands of miles off its scheduled course from Kuala Lumpur to Beijing.

Mar 18, 2014

Scrutiny of Malaysia pilots reveals picture of normality

KUALA LUMPUR (Reuters) – One is a technical wizard whose affable manner made him a favorite of trainee pilots; the other an enthusiastic young aviator planning to marry his sweetheart.

The captain and co-pilot of Malaysia Airlines Flight MH370 are now at the center of a baffling paradox: as circumstantial evidence mounts that at least one of them may have been involved in the plane’s disappearance on March 8, accounts of their lives portray them as sociable, well-balanced and happy.

    • 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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