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| 09-Apr-2020 12:51 |
Centurion
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Centurion Corp
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Centurion catches the Covid-19 bug Amala Balakrishner 9/04/2020, 7:00am SINGAPORE (Apr 9): The rising Covid-19 cases in Singapore is doing damage to the local dormitory sector. Westlite Toh Guan, a workers&rsquo dormitory operated by Centurion Corp, was one of the two dormitories identified as a new cluster, with 34 cases as of April 7. As a result, its 6,800 residents &mdash together with 13,000 from S11 Dormitory @ Punggol &mdash will be quarantined for 14 days. https://www.theedgesingapore.com/news/company-news/centurion-catches-covid-19-bug |
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| 09-Apr-2020 12:48 |
SGX
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SGX
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SGX Regco suspends new entries to watch list expedites fund raisingTHU, APR 09, 2020 - 5:50 AM Measures introduced amid plunge in market caps and liquidity caused by Covid-19 pandemic Singapore SINGAPORE Exchange Regulation (SGX RegCo) will suspend entry into its financial watch-list and give expedited clearance to fund-raising efforts by mainboard issuers. The frontline market regulator has been in consultation with the Monetary Authority of Singapore (MAS) and has decided to introduce the measures to support issuers and ease the financial strain caused by the Covid-19 pandemic. " Covid-19 has caused a drastic global deterioration in business conditions for all companies, with many experiencing significant loss of revenue and profitability," SGX RegCo said on Wednesday. It added: " Share prices of companies have also fallen, translating to sharp declines in market capitalisation. Companies are also likely to face liquidity crunch at this time as banks are tightening credit." The benchmark Straits Times Index (STI) has lost 22 per cent since the start of the year, as countries shut their borders due to the deadly virus, threatening businesses and jobs. SGX RegCo said placing issuers on the financial watch-list during this trying period might cause " undue prejudice to companies in navigating the business challenges in this climate" . Companies on the SGX watch-list are compelled to turn around their financial performance after three years of losses and when market capitalisation falls below S$40 million. There are currently 44 companies on the financial watch-list. SGX RegCo will provisionally suspend the half-yearly reviews on the first market days of June 2020 and December 2020 to place issuers on the financial watch-list. " The suspension is to enable our issuers to focus on meeting the current business and economic challenges and dealing with any resultant liquidity crunch," SGX RegCo said. Companies that meet the exit criteria, however, will continue to be able to exit the watch-list. To help mainboard issuers with potential liquidity issues, SGX RegCo will also allow companies to seek a general mandate for an issue of pro-rata shares and convertible securities of up to 100 per cent of share capital. This is an enhancement from a 50 per cent share issue limit previously. It excludes treasury shares and subsidiary holdings in each class, and is effective from April 8, 2020 until Dec 31, 2021. SGX RegCo stressed that the limit on the total number of shares and convertible securities issued other than on a pro-rata basis remains at not more than 20 per cent. Shareholder approval must be obtained at the company' s annual general meeting or by convening an extraordinary general meeting (EGM). The enhanced share issue limit is subject to various conditions, including confirmation by the board of directors that it is in the interests of the company and shareholders and that it is in compliance with legal requirements. The issuer must also disclose in the notice of the general meeting why the directors believe the enhanced share issue is in the interests of the company and shareholders, and their basis for forming such views. The notice does not have to be cleared with SGX RegCo and no circular is required. David Gerald, founder and chief executive of the Securities Investors Association Singapore (Sias) said that SGX RegCo' s measures are " timely assistance" . He added: " This is yet another useful initiative by SGX RegCo to help issuers to cope with the ill-effects of Covid-19. It enables the issuers to raise funds to keep alive their business. This is good for not only the companies but also their shareholders." On the enhanced share issue limit for mainboard issuers, Mr Gerald noted: " This will enable the issuers to raise funds expeditiously to meet liquidity needs. SGX RegCo deserves a pat on the back for its timely assistance rendered to struggling issuers." In response to queries on why fund raising has been expedited only for mainboard issuers, SGX RegCo said Catalist companies already have larger mandates for fund raising. Under Catalist Rule 806(2), if shareholders approve the mandate by special resolution, the limit on the total number of shares and convertible securities issued - whether on a pro rata or non pro rata basis - may be up to 100 per cent of the total number of issued shares, excluding treasury shares and subsidiary holdings. https://www.businesstimes.com.sg/stocks/sgx-regco-suspends-new-entries-to-watch-list-expedites-fund-raising |
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| 09-Apr-2020 12:38 |
Broadway Ind
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broadway ind
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Broadway Industrial gets third trading query in nine months WED, APR 08, 2020 - 7:34 PM MAINBOARD-LISTED precision manufacturer Broadway Industrial Group was hit with a fresh query by the bourse regulator over trading activity on Wednesday, its third one in nine months. The group' s shares climbed 32.8 per cent, or 2.1 Singapore cents, to close at 8.5 Singapore cents on Wednesday. A total of 36.3 million shares changed hands. Kelvin Koh, head of surveillance at Singapore Exchange Regulation (SGX RegCo), noted unusual volume movements in the shares and asked whether the issuer was aware of any unannounced information or other possible explanations for the trading activity. He further noted that this is the second query issued to the company in the past four months - Broadway Industrial was last queried on December 17, 2019, after one on July 22 last year. Broadway Industrial, responding to the query, said it was still in talks with two prospects on merger and acquisition transactions, as had been announced in November, and was unaware of any other information that could explain the unusual share price movements. The group was put on a watch-list in June for missing the minimum trading price requirement. Broadway Industrial said on Feb 23 that it has been served two writs of summons and statements of claim in relation to the sale of its foam-plastics solutions and flow-control device businesses. The aggregate minimum amount of claims, which the company intends to " defend vigorously" , amounted to about S$9.3 million. The group' s loss for the full year ended Dec 31, 2019 was S$21.4 million, compared with a net profit of S$1.81 million a year ago. Revenue was down 20.4 per cent to S$305.67 million due to continued weakness in the hard disk drive market in 2019. Current assets stood at S$95.8 million as at December 31, 2019. https://www.businesstimes.com.sg/companies-markets/broadway-industrial-gets-third-trading-query-in-nine-months |
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| 08-Apr-2020 11:28 |
Landmark REIT
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Overview of Lippo Malls Trust
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Fitch Ratings cuts LMIRT outlook to negative due to coronavirus impact TUE, APR 07, 2020 - 11:01 AM FITCH Ratings has lowered its outlook on Lippo Malls Indonesia Retail Trust' s (LMIRT) long-term foreign-currency issuer default rating to negative from stable due to the coronavirus outbreak. The negative outlook is based on an expectation the pandemic will impact operating earnings, with average occupancy rate dropping to around 50 per cent in 2020, Fitch Ratings said on Monday. It also affirmed the mainboard-listed retail real estate investment trust' s long-term senior unsecured rating at BB. " LMIRT has headroom for coverage to weaken without significantly exceeding the negative rating sensitivity for a prolonged period," Fitch Ratings said, adding that the temporary closures of LMIRT' s shopping malls and retail spaces will lead to an estimated 50 per cent decline in revenue and 60 per cent drop in Ebita (earnings before interest, taxes and amortisation) for 2020. This is compared with about 20 per cent revenue growth and 5 per cent Ebita growth in 2019. Fitch Ratings said this scenario assumes the pandemic will persist in the second quarter of 2020 followed by a slow recovery. Meanwhile, it said LMIRT' s cash flow would be further pressured by depreciation of the Indonesian rupiah, something Moody' s Investors Service also noted when it similarly downgraded its outlook on LMIRT to negative from stable. Liquidity-wise, Fitch Ratings said LMIRT' s end-2019 cash balance of S$110 million was enough to cover S$75 million worth of bonds maturing in June 2020. It also expects LMIRT to defer interest payments on its perpetual securities and dividend distribution to conserve cash. " LMIRT' s next significant maturities are S$175 million term loans due in August 2021, which provides the company with sufficient time to refinance by loans or bonds once the market improves," Fitch Ratings added. Units of LMIRT were up 0.1 Singapore cent or 1 per cent at 10.6 cents as at 10.39am on Tuesday. https://www.businesstimes.com.sg/companies-markets/fitch-ratings-cuts-lmirt-outlook-to-negative-due-to-coronavirus-impact |
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| 08-Apr-2020 11:24 |
YZJ Shipbldg SGD
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The Only Shipbuilding Blue Chip in SGX!
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Yangzijiang' s executive chairman steps down, CEO and son takes overTUE, APR 07, 2020 - 9:20 PMYANGZIJIANG Shipbuilding' s executive chairman Ren Yuanlin has stepped down and made way for his son and company chief executive Ren Letian to take over as executive chairman of the group, the shipbuilder said in a bourse filing on Tuesday. The elder Mr Ren, 66, has left the position he has held since 2006 to pursue other career opportunities, said the company. His son, aged 38, has thus ceased to be an alternate director to his father. Mr Ren Yuanlin, known to be a key man of Yangzijiang, holds a 21.69 per cent stake in the company. The stake comprises 0.08 per cent of direct interest, and 21.61 per cent of indirect interest through his interest in Yangzi International Holdings Limited. Yangzijiang on Tuesday separately announced the appointment of two directors to its board. Deputy general manager Song Shu Ming has been appointed as an executive director. He is responsible for the overall operations of the Jiangsu Yangzi-Mitsui Shipbuilding Co, and leads the second sales and marketing division of the group. Toe Teow Heng has been appointed as an independent non-executive director. He was chief executive of GEM Asset Management, formerly known as ICH Gemini, from May 2014 to April 2, 2020. Before that, he was director of ICH Partners from January 2009 to June 2014, and CEO of ICH Capital from October 2001 to September 2014. Shares in Yangzijiang ended trading at 91.5 Singapore cents on Tuesday, up 3.5 Singapore cents, or 3.98 per cent. https://www.businesstimes.com.sg/companies-markets/yangzijiangs-executive-chairman-steps-down-ceo-and-son-takes-over |
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| 08-Apr-2020 11:20 |
CityDev
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CityDev
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Chinese tycoon Tong Jinquan sells substantial stake in IReit Global to key unitholders Tikehau, CDLWED, APR 08, 2020 - 5:50 AM Singapore CHINESE tycoon Tong Jinquan has sold a substantial stake in IReit Global to the real estate investment trust' s key unitholders and strategic partners, Tikehau Capital and City Developments (CDL), for S$64 million. A Tuesday announcement said that French asset management... https://www.businesstimes.com.sg/companies-markets/chinese-tycoon-tong-jinquan-sells-substantial-stake-in-ireit-global-to-key |
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| 08-Apr-2020 11:19 |
IREIT Global SGD
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IREIT Global
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Chinese tycoon Tong Jinquan sells substantial stake in IReit Global to key unitholders Tikehau, CDLWED, APR 08, 2020 - 5:50 AM Singapore CHINESE tycoon Tong Jinquan has sold a substantial stake in IReit Global to the real estate investment trust' s key unitholders and strategic partners, Tikehau Capital and City Developments (CDL), for S$64 million. A Tuesday announcement said that French asset management... https://www.businesstimes.com.sg/companies-markets/chinese-tycoon-tong-jinquan-sells-substantial-stake-in-ireit-global-to-key |
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| 08-Apr-2020 10:57 |
Fu Yu
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1 cent divi+ Prime takeover/Privitsation candidate
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Fu Yu to continue Singapore operations during circuit-breaker periodTUE, APR 07, 2020 - 7:31 PMRECISION plastic components maker Fu Yu Corporation will continue its Singapore operations during the circuit-breaker period imposed by the government, as it provides manufacturing services that are part of the essential supply chain. The company said on Tuesday that it has received approval from the Ministry of Trade and Industry for an exemption of suspension of workplace activities from April 7 to May 4. It has put in place remote working arrangements for certain functions that do not need to be performed on-site, and implemented safe-distancing measures for employees in the work premises. Fu Yu has temporarily stopped contruction work on the redevelopment of its premises at 9, Tuas Drive 1 in view of the circuit-breaker measures. Shares in the company closed at S$0.21 on Tuesday, up 1.1 Singapore cents or 5.53 per cent. https://www.businesstimes.com.sg/companies-markets/fu-yu-to-continue-singapore-operations-during-circuit-breaker-period |
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| 07-Apr-2020 10:07 |
SS SPDR STI ETF
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STI ETF Discussion
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$5.1b Solidarity Budget lifts mood, STI up 3.4%Among other stocks that recorded gains was CapitaLand, which advanced 4.6 per cent to $2.74. The firm announced yesterday it has reopened all its malls in China, which had been shut for several weeks amid the country' s virus lockdown. Its residential and commercial arms are up and running as well, with healthy home sales figures clocked for last month. Singapore banks, which were among the hardest hit last Friday on the back of rate slashes, also recorded gains. DBS Bank edged up 2.7 per cent to $18.40, UOB rose 3.6 per cent to $19.48 while OCBC Bank put on 3.9 per cent to $8.71. All but two - ComfortDelGro and Singapore Press Holdings (SPH) - of the blue-chip index' s 30 components ended in the black. ComfortDelGro fell 1.4 per cent to $1.41 while SPH declined 1.9 per cent to $1.55. Gainers outpaced losers 300 to 121 for the day, with 1.51 billion shares worth $1.43 billion changing hands. The STI' s performance was in line with other Asian markets, with sentiment lifted as some countries reported falling death rates from Covid-19. These include China, which has been experiencing some economic recovery. Philippine and South Korean stocks entered technical bull markets yesterday, rising over 20 per cent from the lows they reached just weeks ago. Indonesian shares also climbed, advancing 4.1 per cent. Australia' s benchmark index rose 4.3 per cent, Japan' s Nikkei added 4.2 per cent while the Hang Seng in Hong Kong closed 2.2 per cent higher. Markets in mainland China were closed for a public holiday. 
But economists at Moody' s Analytics said in a report yesterday that it will take time for domestic demand to return to pre-coronavirus levels, pointing out that foreign demand remains weak. " Global demand is set to halt for much of 2020, which will likely prove to be China' s biggest obstacle in its pursuit of a V-shaped recovery," noted the Moody' s Analytics report. https://www.straitstimes.com/business/companies-markets/51b-solidarity-budget-lifts-mood-sti-up-34 |
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| 07-Apr-2020 10:00 |
CapitaLand
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Capitaland
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CapitaLand reopens all China malls, posts rise in residential salesMON, APR 06, 2020 - 2:57 PMMAINBOARD-LISTED CapitaLand has reopened all its malls in China previously shut due to the country' s coronavirus lockdown. The group' s four malls in Wuhan - the epicentre of the outbreak - reopened on April 2 after receiving clearance from local authorities. About 80 per cent of stores in CapitaLand' s malls and business parks in China were in operation as at end-March, the property giant said in a bourse filing on Monday. In a separate filing, CapitaLand Retail China Trust (CRCT) said its portfolio had seen improvements in business activity and footfall in March compared to February. CRCT Management chief executive Tan Tze Wooi said the trust was " very encouraged" by the return of tenants and shoppers, adding that it would work closely with retailers to meet pent-up demand through targeted offerings and attractive promotions. He said: " In the last few years, we have actively shaped the portfolio to become more resilient by diversifying our presence across more cities and diversifying our tenant base across different trade categories. " While we expect short-term volatility to our business due to Covid-19, we maintain our long-term collaborative stance with our business partners and a positive view of the China market." Apart from mall tenants, about 95 per cent of CapitaLand' s office tenants have also resumed operations, with over 65 per cent of tenants' employees returning to the office, the property developer said. On the residential front, CapitaLand' s sales offices across China reopened progressively in March, with residential sales for the month exceeding 1.3 billion yuan (S$263.6 million). This is more than 5.5 times its sales for January and February combined. Its new La Botanica township in Xi' an, launched on March 24, sold all 288 units within four days for a gross sales value of 405 million yuan, it said. Other notable sales it made in the first quarter of the year include Jing' an One in Shanghai, and Citta Di Mare and La Riva in Guangzhou. The three properties netted the company about 336 million yuan, 390 million yuan and 288 million yuan in sales respectively. CapitaLand group China president Lucas Loh said Chinese homebuyers have become more discerning since the virus outbreak, but added that the company recorded healthy figures since reopening sales offices, indicating a sustained underlying demand for new homes. CapitaLand said most of its projects under construction have resumed work, and it is now focused on catching up with its annual sales and handover targets. CapitaLand shares were trading at S$2.77 as at 2.18pm on Monday after the announcement, up S$0.15 or 5.7 per cent. Units of CRCT were also up S$0.08 or 7.6 per cent at S$1.14. https://www.businesstimes.com.sg/companies-markets/capitaland-reopens-all-china-malls-posts-rise-in-residential-sales |
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| 07-Apr-2020 09:56 |
MindChamps
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MindChamps Discover the MindChampion in You
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MindChamps to set up JV fund which will acquire preschools in the GCCMON, APR 06, 2020 - 9:46 AMMINDCHAMPS PreSchool has entered into a joint venture (JV) with global investment firm Foundation Corporation to establish a fund which will acquire preschools in the Gulf Cooperation Council (GCC) countries and operate them under the MindChamps brand. Called the GCC PreSchool Fund, the fund will seek to raise an initial tranche of around US$50 million to US$100 million from the offering and sale of limited partnership interests to the fund' s limited partners. It is also intended to have an initial term of six years, the preschool operator said in a regulatory filing on Monday. These limited partners are understood to comprise mainly third-party investors, but also MindChamps and Foundation, both of which may invest directly or indirectly. In addition, a licensed fund manager will also be appointed for the GCC PreSchool Fund in relation to such fundraising. The fund will also be established as an exempted limited partnership in the Cayman Islands. It will be managed by a general partner to be jointly incorporated by MindChamps and Foundation. It will have an initial share capital of US$1 million, with MindChamps owning 50 per cent and Foundation owning the remaining half. The general partner will receive recurring management fees from the fund as well as " carried interest" depending on the fund' s performance. MindChamps will receive profits from the general partner' s operations based on its 50 per cent shareholding. MindChamps and Foundation will also incorporate a new company which will be appointed as a master franchisee of MindChamps in the GCC. This company will facilitate the operation, training and upgrading of newly established or acquired preschools under the MindChamps brand in the GCC. It will also acquire an initial 30 unit franchises from MindChamps for resale and application to preschools owned by the GCC PreSchool Fund. The new company will be incorporated in a mutually agreed GCC jurisdiction and have an initial share capital of US$4 million, with MindChamps and Foundation each owning half of the issued share capital. MindChamps will receive licence fees, royalties and profit from the operations of the master franchisee company based on its 50 per cent shareholding. It will also receive royalties from franchised preschools and returns from investment in the GCC PreSchool Fund. Mainboard-listed MindChamps shares closed flat at S$0.24 last Friday. https://www.businesstimes.com.sg/companies-markets/oxley-sells-73-of-singapore-projects-to-recognise-s24b-in-revenue |
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| 07-Apr-2020 09:50 |
Thakral
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Thakral Corp
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Thakral acquires 4.5 hectares of land in New South Wales for resortMON, APR 06, 2020 - 10:29 PMMAINBOARD-LISTED Thakral Corporation has acquired 4.5 hectares of prime land in Australia' s New South Wales through its GemLife joint venture. The land will be developed into a lifestyle resort for over-50s, expanding GemLife&rsquo s portfolio to eight resorts. GemLife has committed about A$6 million (S$5.23 million) to the resort, named GemLife Tweed Waters, which will comprise 97 homes upon completion. This will bring the total number of residences in the pipeline in the company&rsquo s portfolio to over 1,900. Thakral&rsquo s group chief executive and executive director, Inderbethal Singh Thakral, said: " This is another strategic acquisition for our investment division, which will strengthen our presence in the high-growth retirement-resorts industry, and grow our portfolio of key gateway sites in Australia." Civil works and construction are expected to commence in Q4 2020, with the first homes ready to move into by Q3 2021. GemLife&rsquo s chief executive and director, Adrian Puljich, said GemLife Tweed Waters is expected to be one of GemLife&rsquo s fastest-selling resorts. " The resort design will take advantage of natural features of the coastal location to capitalise on activities such as fishing, boating and water sports, creating a very special and exclusive enclave for residents," he added. Shares in Thakral last traded at 43.5 Singapore cents on Friday. https://www.businesstimes.com.sg/companies-markets/oxley-sells-73-of-singapore-projects-to-recognise-s24b-in-revenue |
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| 07-Apr-2020 09:33 |
Oxley
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Is Oxley a good buy at current price?
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Oxley sells 73% of Singapore projects, to recognise S$2.4b in revenue
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| 06-Apr-2020 09:59 |
SGX
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SGX
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SGX doing its part to safeguard economic resilience amid Covid-19CEO says exchange is alert, ready to adapt to evolving situation whenever necessary We are barely four months into 2020 but life before Covid-19 seems like it was years ago. As the epicentre of the disease shifts from Asia to Europe and the US, the human cost is growing. https://www.straitstimes.com/business/companies-markets/sgx-doing-its-part-to-safeguard-economic-resilience-amid-covid-19 |
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| 06-Apr-2020 09:56 |
Hong Leong Asia
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Hong Leong Asia
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Building materials turnaround marks new direction for Hong Leong AsiaMON, APR 06, 2020 - 5:50 AMCEO Tan Eng Kwee is excited about how performance of building materials supply business is shifting HLA' s bottom line. SIZE matters a lot in the building industry, and Hong Leong Asia (HLA), a leading supplier of ready-mixed and precast concrete to Singapore' s construction industry, could strengthen its lead if Covid-19 accelerates consolidation in the market, chief executive Tan Eng Kwee believes. Mr Tan... https://www.businesstimes.com.sg/companies-markets/building-materials-turnaround-marks-new-direction-for-hong-leong-asia |
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| 06-Apr-2020 09:53 |
Chip Eng Seng
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ChipEngS - Low PE, High Yield and High NAV in One
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Chip Eng Seng sells 77 units at Kopar At Newton condo - launched completely online SINGAPORE (THE BUSINESS TIMES) - CEL Development, a fully-owned subsidiary of mainboard-listed Chip Eng Seng Corporation, has sold 77 units at the launch of its 378-unit Kopar At Newton condo project over the weekend. Singapore-based proptech firm Showsuite said: " This is the first private residential project in Singapore to be launched completely online and with transactions carried out remotely without any of the buyers and serving property agents being present at the sales office." The sales office was within Chip Eng Seng' s office premises in Chin Swee Road. " All bookings were carried out using Showsuite' s proprietary digital booking platform which allowed buyers to avoid queues, crowd and contact, as they signed pre-sale documents in the comfort of their homes. Some buyers even opted to pay the 5 per cent booking deposit online instead of conventional cheques," Showsuite said in a release on Sunday evening. This was the first project to be launched for sale amid the heightened Covid-19 guidelines around crowd avoidance announced on March 24 and ahead of the 28-day circuit-breaking moratorium announced by the Singapore authorities last Friday which would see all showflats closed from April 7 to May 4. The 99-year leasehold project is located off Newton Circus. CEL executive director Michael Ng said the project average price is $2,350 per square foot (psf), as stated previously. " We have not had time to calculate the average per square foot price for the units sold over the weekend. Most of the units that have been sold are one and two-bedroom apartments," he said. By signing up, you agree to our Privacy Policy and Terms and Conditions. The cheapest units transacted were a couple of one-bedders priced at $1.098 million each. Also sold was a penthouse of about 3,305 sq ft that went for $7.88 million. " Buyers were predominantly Singapore citizens, although we also had some permanent residents and a few foreigners who are based here," said Mr Ng. Kopar at Newton is jointly marketed by ERA, PropNex, OrangeTee & Tie and SRI. CEL began previewing the project on March 25. " We had planned to begin sales on Good Friday. However, when we were informed last Friday that all showflats would have to be closed for one month from April 7, we decided to bring forward the start of sales," said Mr Ng. " We already had Showsuite on board with us, and their technology certainly facilitated the quick commencement of sales on Saturday." That said, Mr Ng noted that even with the Showsuite platform, it would have been difficult to launch sales during the moratorium " because you would still need to gather some of the key people - from the developers' side as well as the key persons in charge from each of the four property agencies - even if they are not in the same physical space as the buyer and serving agents" . This would not be allowed given that, except for suppliers and supply chains of essential services, activities at all workplaces and retail outlets must be suspended during the four-week period - as part of the additional measures to minimise the further spread of Covid-19. Showsuite CEO Karamjit Singh said: " We are grateful to the four joint marketing agencies who were trained to carry out the transactions remotely, thereby achieving decentralisation. Each were given their dedicated and secure dashboards connected to our real-time inventory management platform. We also adopted video-conferencing for training and off-site tech-support to ensure the smooth running of the process." Kopar at Newton will have two towers of 23 storeys each. Units will range from one-bedroom to five-bedroom apartments there will also be penthouses. This is the third project launch that Chip Eng Seng has done in partnership with Showsuite, after Park Colonial and Parc Komo. https://www.straitstimes.com/business/property/chip-eng-seng-sells-77-units-at-kopar-at-newton-condo-launched-completely-online |
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| 06-Apr-2020 09:49 |
SIA
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SIA
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Should investors participate in SIA' s big rights issue?MON, APR 06, 2020 - 5:50 AMTransaction is about more than just investors like Temasek getting a decent return UNLESS I have no choice in the matter, I never fail to choose Singapore Airlines (SIA) over its competitors when I travel, even if it means paying more for the ticket. And, let' s face it, flying with SIA always costs more. Yet, I have never felt the urge to own shares in SIA, because its... https://www.businesstimes.com.sg/companies-markets/should-investors-participate-in-sias-big-rights-issue |
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| 04-Apr-2020 15:13 |
Seatrium
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Sembmarine
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SembMarine safe from SGX watch-list despite 3 years of lossesSAT, APR 04, 2020 - 5:50 AMRIG builder Sembcorp Marine has given notice that it has recorded pre-tax losses for three consecutive years. The group' s six-monthly average daily market capitalisation is S$2.46 billion as at Thursday. This means the group still meets the financial entry criteria... https://www.businesstimes.com.sg/companies-markets/sembmarine-safe-from-sgx-watch-list-despite-3-years-of-losses |
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| 04-Apr-2020 15:09 |
SingTel
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Singtel Bullish???
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Singtel eyes divestment of A$2b Australia tower portfolio: reportSAT, APR 04, 2020 - 5:50 AMSINGTEL is said to be looking to sell its telecommunications towers in Australia worth more than A$2 billion (S$1.73 billion) in total. The Australian Financial Review (AFR) reported this week that Singapore' s largest telco has mandated Bank of America for the potential... https://www.businesstimes.com.sg/companies-markets/singtel-eyes-divestment-of-a2b-australia-tower-portfolio-report |
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| 04-Apr-2020 15:06 |
SGX
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SGX
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SINGAPORE Exchange (SGX) on Friday said its securities and derivatives markets will remain open and accessible, despite Singapore closing most workplaces for one month from next Tuesday. Loh Boon Chye, chief executive of SGX, said the exchange is a key financial market infrastructure for international and retail investors. " Our priority is to ensure that our markets are always available and accessible, so that our clients can manage their investment portfolios during these volatile times," he said, adding that the safety of employees and customers are of utmost importance. SGX has been working from split sites and from home for almost two months, without any interruptions to our operations. " Close to 80 per cent of our employees in Singapore will be working from home as per Ministry of Health&rsquo s (MOH) guidance," Mr Loh said. The move to keep the exchange open follows the affirmation by the Monetary Authority of Singapore (MAS) that financial services are among the essential services exempted from the suspension of activities at workplace premises under the elevated safe distancing measures announced by the health ministry. Mr Loh said SGX, supported by market participants such as brokerage firms, liquidity providers, market makers and data vendors, will ensure continued availability of the markets. CDP services will continue to be available and the majority of the services can be accessed without visiting the CDP Customer Service Centre. From April 6, the CDP Customer Service Centre will assist with a limited number of services on an appointment-only basis. These services include share transfers, updating of signatures, estate account processing and deposit/withdrawal of share certificates. On Friday, the government announced more stringent measures on safe distancing to curb the spread of the virus. https://www.businesstimes.com.sg/companies-markets/sgx-will-stay-open-and-accessible |
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