SINGAPORE (Reuters) – Indonesia’s Indofood Sukses Makmur Tbk PT (INDF.JK: Quote, Profile, Research, Stock Buzz) is considering making a takeover offer for Singapore-listed China Minzhong Food Corp Ltd (CMFC.SI: Quote, Profile, Research, Stock Buzz) after an attack by a short-seller wiped off almost half of the Chinese firm’s market value.
Indofood, the biggest shareholder in Minzhong with a 29.3 percent stake, told the firm in a letter that it would make an announcement later on Monday if an offer is to be made.
SINGAPORE, Aug 26 (Reuters) – Food producer China Minzhong
Food Corp Ltd on Monday became the first
Singapore-listed Chinese firm to come under attack by a
short-seller, which wiped off more than 50 percent of its market
value in two hours and triggered a trading halt.
Short-sellers have in recent years targeted Chinese
companies listed in Hong Kong, Canada and the United States,
citing irregularities, but they have so far avoided any of the
143 China-based firms listed on the Singapore Exchange Ltd
SINGAPORE, July 17 (Reuters) – Singapore’s IPO market got a
boost after a property trust from Singapore Press Holdings Ltd
priced at the top end of its indicative range on
Wednesday, underscoring strong appetite for REITs from
Hotel and property group Overseas Union Enterprise Ltd
, which is backed by Indonesian tycoon Stephen Riady,
is also set to price its $480 million hospitality trust later in
SINGAPORE, July 4 (Reuters) – Singapore state investor
Temasek Holdings Pte Ltd stood by its investments in
China’s top banks on Thursday, saying they were well equipped to
cope with disruptions like the recent interbank credit crunch.
It also said structural change in China could yield further
investment opportunities, both in state-owned enterprises and
SINGAPORE, July 4 (Reuters) – With limousine pick-ups and
on-board chefs, Asia’s premium airlines are investing hundreds
of millions of dollars on luxury services in a bet on a rebound
in business from the wealthy, even as low-cost carriers fly high
with the booming middle class.
Although business and first-class traffic has fallen
significantly in the last few years as companies cut costs,
carriers such as Singapore Airlines Ltd (SIA), Cathay
Pacific Airways Ltd and Qantas Airways Ltd
are estimated to still earn about 35 to 40 percent of passenger
revenue from the high-margin segment.
SINGAPORE, July 3 (Reuters) – Singapore’s sovereign investor
Temasek Holdings Pte Ltd is coming under pressure to
review its large exposure to Chinese banks as the world’s second
biggest economy is on track for its slowest growth in more than
The city-state’s AAA-rated wealth fund has poured billions
of dollars into the biggest Chinese banks over the past few
years including about $2.4 billion in the Industrial and
Commercial Bank of China since 2012 alone.
SINGAPORE, June 5 (Reuters) – Overseas Union Enterprise Ltd
will begin gauging demand for the listing of a hotel
REIT that is expected to raise up to $800 million, sources said,
as the Singapore property firm named a chief executive for the
The listing could be the city-state’s third-biggest IPO this
year, bolstered by strong demand for REITs and business trusts
as investors look for steady income streams and attractive
KUALA LUMPUR/SINGAPORE, June 5 (Reuters) – Malaysia’s
AirAsia Bhd, which has dominated budget air travel in
Asia with explosive growth over the past decade, faces serious
competition at home just as it tries to scale up operations in
Malindo Airways, an affiliate of fast-growing Indonesian
budget carrier Lion Air, began operating in Malaysia two months
ago, offering competitive fares on lucrative routes.
SINGAPORE/PARIS (Reuters) – Singapore Airlines Ltd (SIAL.SI: Quote, Profile, Research, Stock Buzz) agreed to spend $17 billion to buy 30 Airbus (EAD.PA: Quote, Profile, Research, Stock Buzz) and 30 Boeing Co. (BA.N: Quote, Profile, Research, Stock Buzz) aircraft, underscoring the airline’s bet on a pick-up in the struggling premium class market.
The significant orders announced on Thursday make Singapore Airlines (SIA) the long-awaited launch customer for a proposed stretched version of the 787 Dreamliner, boosting Boeing’s plans to offer a 320-seat aircraft designed in large part for crowded intra-Asian routes.
SINGAPORE (Reuters) – Singapore Airlines Ltd (SIAL.SI: Quote, Profile, Research, Stock Buzz) reported weaker-than-expected full-year results and warned of a deteriorating environment as it struggles to cope with the rapid emergence of Gulf carriers and low cost Asian rivals.
SIA is attempting a big strategy overhaul, pushing into the budget airlines segment and expanding its regional network.