SINGAPORE, Dec 3 (Reuters) – Singapore expressed concern on
Monday over China’s plan to board and search ships sailing in
what it considers its territory in the South China Sea, as
tension grows over Beijing’s sovereignty claims in busy
Southeast Asian waters.
“Singapore is concerned about this recent turn of events,”
the Ministry of Foreign Affairs said in response to a recent
Chinese media report on new rules that will allow police in the
southern Chinese province of Hainan to board and seize control
of foreign ships which “illegally enter” its waters from Jan. 1.
SINGAPORE (Reuters) – This week’s walkout in Singapore by dozens of mainland Chinese bus drivers over disparities in pay would have been considered small, calm and short-lived in almost any other nation.
But the strike, in breach of the law and mostly over by Wednesday, was the first significant industrial action in the tightly regulated Asian financial centre in more than 25 years.
SINGAPORE, Nov 27 (Reuters) – Short-seller Muddy Waters
published a long-awaited report on Olam International Ltd
with detailed attacks on acquisitions and accounting
at the Singapore commodities firm it has said may fail, but Olam
dismissed the latest salvo as lacking substance.
The battle between the two firms, which began with comments
by Muddy Waters’ founder last week and which Olam has escalated
to a Singapore court, has cast a spotlight on common accounting
practices at commodities firms.
SINGAPORE, Nov 27 (Reuters) – Eternal peace does not last
long in Singapore.
Starting early next year, workers with heavy machinery will
begin constructing an eight-lane highway across the small
country’s oldest surviving major cemetery, overriding the
objections of nature lovers and heritage buffs.
SINGAPORE, Nov 16 (Reuters) – Singapore cut its growth
forecast for this year to around 1.5 percent and warned of a
subdued 2013 on Friday as updated third-quarter data and October
export numbers showed weakness in electronics manufacturing and
The trade-dependent economy is expected to grow 1-3 percent
next year, with risks on the horizon from the U.S. fiscal
cutback and the eurozone crisis, the Ministry of Trade and
Industry (MTI) said in a statement.
SINGAPORE, Nov 14 (Reuters) – Singapore Telecommunications
Ltd forecast its first drop in annual revenue in 14
years after it posted a weaker-than-expected quarterly profit,
hit by tough competition in its key Australian market.
SingTel, Southeast Asia’s largest telecommunications firm by
market value, relies on Australian unit Optus for two-thirds of
its revenue, but competition with the likes of Telstra
has grown increasingly fierce amid slowing growth in that
country’s mobile market.
SINGAPORE, Nov 7 (Reuters) – Overseas Union Enterprise Ltd
(OUE) said it will decide by mid-November whether or
not it will bid for Fraser and Neave Ltd (F&N), one
day before an existing takeover offer by a Thai billionaire
The sabre-rattling by OUE, a hotel and property group
controlled by Indonesia’s Lippo Group, may spur Charoen
Sirivadhanabhakdi to sweeten his S$12.8 billion ($10.4 billion)
offer to buy out the Singapore property-to-beverage
SINGAPORE, Nov 2 (Reuters) – Singapore Airlines,
one of the world’s largest carriers by market capitalisation,
posted a 54 percent drop in quarterly net profit on Friday and
said the outlook remained challenging, made worse by high and
volatile jet fuel prices.
SIA earned a net profit of S$90 million ($73.8 million) in
the three months ended September, down from S$194 million a year
earlier, as both passenger and cargo yields fell.
SINGAPORE, Nov 1 (Reuters) – Singapore’s Global Logistic
Properties Ltd, one of the world’s largest warehouse
operators, plans to raise $1.3 billion by setting up a real
estate investment trust (REIT) in Japan.
The group will set up its first real estate investment trust
with 30 properties valued at $2.6 billion. The Singapore firm
expects to raise net cash proceeds of $1.3 billion that it will
use mainly for projects in China and Japan.
SINGAPORE (Reuters) – When Tastyfood Industries decided to boost production to meet demand in Africa and the Middle East, the maker of Mr Cafe instant coffee and Vitamax cereal did not expand its Singapore factory or another one it owns in Xiamen, China.
Instead, it plans to close its Singapore plant next year and move up the road to Malaysia’s Iskandar economic zone, where it will set up a factory three times the size on low-cost freehold land and hire willing workers as cheaply as it can in China.