SINGAPORE, Sept 28 (Reuters) – Heineken NV won
full control of the maker of Tiger beer on Friday after
shareholders of its Asian partner, Fraser and Neave Ltd (F&N)
, voted in favour of selling the conglomerate’s stake
in the brewer for $6.3 billion.
The vote ends a two-month battle between Heineken and
companies linked to Thai billionaire Charoen Sirivadhanabhakdi
for control of Asia Pacific Breweries (APB), which
makes several other popular brands of beer and operates 30
breweries across 14 countries.
SINGAPORE (Reuters) – Singapore’s non-oil domestic exports (NODX) in August fell more than expected, raising the prospect of the city-state entering into a recession as exports to the European Union plunged.
The trade-dependent Southeast Asian city-state said on Monday non-oil domestic exports (NODX) fell 10.6 percent from a year earlier, hurt by a 10.4 percent drop in electronics and a 28.7 percent plummet in shipments to the EU, its largest market.
SINGAPORE, Sept 12 (Reuters) – Genting Singapore’s
casino broke the law by partially reimbursing the annual entry
fee paid by some local people, and staff could face criminal
charges for providing misleading information, the city state’s
casino regulator said on Wednesday.
From February to May 2011, Genting Singapore unit Resorts
World Sentosa Pte. Ltd. (RWS) gave incentives such as concert
tickets and hotel accommodation to around 3,400 locals who paid
a S$2,000 annual levy to enter the casino, breaching a major
social safeguard against problem gambling, the Casino Regulatory
Authority of Singapore (CRA) said.
SINGAPORE, Aug 14 (Reuters) – Singapore Telecommunications
, Southeast Asia’s biggest telephone company, posted a
better-than-expected quarterly net profit, helped by a one-off
asset sale, and reiterated its forecast for low single-digit
revenue growth and stable earnings this financial year.
SingTel, which owns Australia’s No.2 telecommunications
firm, Optus, and holds large stakes in several regional mobile
phone operators including India’s Bharti Airtel, has
been struggling to grow profits as demand slows for its
services. The Singapore dollar’s strength against most Asian
currencies has also hurt earnings from overseas.
SINGAPORE, Aug 2 (Reuters) – Oversea-Chinese Banking Corp
, Singapore’s second-largest bank by assets, warned
that loans growth will slow and margins remain under pressure
even after posting a better-than-expected rise in quarterly
OCBC’s cautious outlook follows the contraction of
Singapore’s manufacturing in July after two months of gains due
to a drop in new orders. The weakness is also in line with the
regional trend, with China’s factory output barely growing.
SINGAPORE, July 31 (Reuters) – Singapore sovereign wealth
fund GIC slashed its bond holdings and raised cash in its last
fiscal year as “abnormally low” bond yields in the developed
economies increased the risk of holding fixed-income
investments, its latest annual report showed.
The Government of Singapore Investment Corp, which manages
an estimated $300 billion plus in assets, reduced bonds to 17
percent of its portfolio as of end-March 2012, down from 22
percent a year ago.
SINGAPORE, July 25 (Reuters) – Singapore Airlines Ltd
, the world’s No.2 carrier by market value, warned that
profits at its cargo and passenger units remain under pressure
even as the rival to Emirates and Qatar Airways swung to an
overall quarterly profit from a loss in the preceding three
SIA, like many premium Asian airlines, faces pressures on
multiple fronts, with Middle Eastern carriers competing for
traffic on longer-haul routes and budget carriers grabbing a
greater slice of intra-regional traffic.
SINGAPORE, July 19 (Reuters) – Singapore Exchange Ltd
is toughening its listing rules in the wake of a
series of accounting scandals at small Chinese firms, hoping
stronger corporate governance will attract more large companies
to the city state.
Recent scandals at companies such as KXD Digital
Entertainment have dealt a blow to the reputation of
SGX-listed companies, coming as stock sales — including intial
public offerings (IPOs) — have tumbled due to turmoil in global
SINGAPORE, July 9 (Reuters) – Singapore could limit how many
times problem gamblers visit its casinos under proposed
legislation on Monday, bowing to pressure to contain a rise in
gambling addiction in the wealthy city-state just two years
after opening two casino resorts.
Singaporeans and permanent residents who visit casinos more
than five times a month may need to show proof they are not in
financial distress or face restrictions, acting Minister for
Community Development, Youth and Sports Chan Chun Sing told the
Straits Times newspaper.
SINGAPORE (Reuters) – Singapore’s deputy prime minister on Monday said the country plans to ease its mandatory death penalty in some drug and murder cases but not abolish the ultimate punishment that human rights groups condemn as barbaric.
The wealthy Southeast Asian city-state, which has a zero-tolerance policy for illegal drugs and imposes long jail terms on convicted users, has hanged hundreds of people – including dozens of foreigners – for narcotics offences in the last two decades, Amnesty International and other groups say.