Singapore’s NODX Declines 4.5% In September According to a media release by IE Singapore, the Republic’s non-oil domestic exports (NODX) declined 4.5% on a year-on-year (y-o-y) basis in Sep-11. This was in contrast to 3.9% growth recorded in Aug-11. The reversal was attributed to the contraction in electronic NODX which…
Singapore’s GDP Expands In 3Q, Averts Technical Recession According to the advance estimates released by the Ministry of Trade and Industry, Singapore’s gross domestic product (GDP) expanded in the third quarter. On a seasonally-adjusted quarter-on-quarter (q-o-q) annualised basis, GDP rose 1.3% while it grew 5.9% from a year ago. The…
SPH Posts Better-Than-Expected Profit For FY11 Singapore Press Holdings (SPH) has posted profit of $388.6 million for the financial year ended 31 Aug-11. Though this was 22% lower than the $497.9 million posted for 2010, its recurring profit, which excluded $154.2 million profit from Sky@eleven condo development, had improved by…
Kian Ann Engineering Adopts 25% Payout Policy; Makes Buyback Proposal Kian Ann Engineering, a distributor of heavy machinery and diesel engine parts, unveiled its adoption of a 25% dividend payout policy. Under the policy, the company will dish out annual dividends of a minimum 25% of the consolidated net profit…
Lian Beng Announces 74.7% Profit Spike For 1Q12 Lian Beng Group (Lian Beng) has announced profit of $19.1 million for the first quarter ended 31 Aug-11, representing a 74.7% spike from the $10.9 million in the corresponding quarter a year ago. The strong showing was in particular boosted by a…
CAO Invests In South Korean Oil Storage Firm China Aviation Oil (Singapore Corporation) (CAO) has agreed to invest about 34b won (US$32m) for a 26% equity stake in an oil storage firm in Yeosu, South Korea. CAO will be the second largest shareholders in Oilhub Korea Yeosu Co (OKYC), after…
STX OSV Wins Vessel Order, Assures On Order Pipeline STX OSV has won a contract to build a platform supply vessel of its own design – the PSV 08 – for Troms Offshore Supply, with delivery scheduled in 1Q13. Drawing reference from past orders, price tag of the design is…
SIAS To Hold Corporate Governance Week 2011 Securities Investors Association (Singapore) (SIAS) will be holding the nation’s second Corporate Governance Week from 24 to 28 October. Building on the success of its inception last year, SIAS has already garnered strong support for the upcoming event. Specifically, the Organisation for Economic…
Singapore Bank Stocks Tumble On China Lending Curb Singapore bank stocks got a beating on 4 Oct, with DBS ended 6% lower at $10.87 with a market cap of $25.5b, United Overseas Bank was down 5.4% at $15.91 with a market cap of $25b, while OCBC fell 3.88% to $7.68…
Stamford Land Enters MOU To Sell Three Aussie Hotels Stamford Land Corporation (Stamford Land) has entered a non-binding memorandum of understanding (MOU) to sell three hotel properties in Australia – namely Stamford Plaza Melbourne, Stamford Grand Adelaide and Stamford Plaza Sydney Airport. The indicative sale consideration was put at A$316…
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