Economic Growth For Singapore May Slow To 1-3% Next Year Singapore’s economy is projected to grow by 1-3% in 2012, after expanding 5% this year, as the outlook for the global economy remained subdued by increased uncertainty and financial volatility. The Ministry of Trade and Industry (MTI) said downside impacts…
China Sky Suspends Trading, To Appoint Special Auditor China Sky Chemical Fibre (China Sky) has suspended trading of its shares, after receiving a Singapore Exchange (SGX) dircetive to immediately appoint a special auditor to probe into the company. Accordingly, areas of concern raised included the circumstances surrounding a botched land…
Non-Oil Domestic Exports Slump Amid An Uncertain Global Economic Backdrop Latest Oct-11 data released by International Enterprise Singapore showed that Singapore’s non-oil domestic export (NODX) figures took on heavy bruising as it registered a 16.2% plummet from a year earlier, higher than market forecasts of a contraction of 11%. The…
September Retail Sales Post Surprise Dip Singapore’s retail sales posted a surprise 0.1% dip in September, coming below the market’s consensus forecast rise of 3.6%. This was due to the continued fall in motor vehicle sales which declined 9.8%, excluding it, retail sales would have grown 3.1%. The poor showing…
Tiger Air Battered And Bruised From Aussie Grounding It comes as no surprises as the two-week grounding of its Australian fleet took a bite out of Tiger Airways’ (Tiger) 2Q11 performance. Tiger reported a $49.9 million loss for the quarter against a $14.1 million net profit last year. Revenue fell…
Genting Singapore’s 9M11 Earnings Jump 4-Fold To $758.3m Genting Singapore (GS) posted a 4-fold jump in 9M11 earnings, mainly attributed to the full nine months operations of Singapore IR as well as the one-off gain on disposal of available-for-sale financial assets of $45.6m in 2011. RBS said in a report…
CDL’s 3Q11 Profit Declines 32.4% City Developments (CDL) reported a 32.4% profit decline for the third quarter ending 30 Sep-11, coming down from $195.5 million to $132.1 million. Though higher contribution was seen from its property development segment, profit was weighed by lower contribution from rental properties after the disposal…
SingTel’s 2Q12 Earnings Bogged Down By Indian Associate Singapore Telecommunications (SingTel) announced that its 2Q12 revenue grew 3.9% while net profit declined 1.2% to $882 million for the second quarter of FY12. Earlier, it had released statements indicating that its mobile customer base had increased 15% to 424 million over…
OUE’s 3Q11 Earnings Fall 84.5% Overseas Union Enterprise (OUE) reported a 68.7% jump in revenue for 3Q11 as its hospitality arm brought in higher revenue of $57 million attributable largely to better performance at all of its hotels. OUE’s investment division also recorded a good quarter as it reported a…
SembCorp Industries’ 3Q11 Earnings Fall 9% To $222.4m SembCorp Industries’ 3Q11 bottomline fell 9% to $222.4m despite a 22.2% jump in revenue to $2.6b. Excluding a one-off gain recorded in 3Q10, net profit for the quarter would have jumped 5% to $222.4m. Gross profit, on the other hand, dropped by…
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