Thursday, 28 August, 2014 [BACK TO TODAY'S EDITION]

 

INVESTORS' love affair with local bonds shows no sign of letting up as they continue to bask in a sweet spot. Driven by a strong Singapore dollar (SGD) and high yields, the value of issuances in the first three weeks of this month is almost three times that for the whole of August last year.

THE lack of one-time disposal gains dragged tile supplier Hafary Holdings' full-year earnings to a 64 per cent drop despite better sales.

THE roughly 300 investment funds approved by the Central Provident Fund (CPF) continued to do well this year amid liquidity from central banks and low volatility. The average fund under the CPF Investment Scheme (CPFIS) posted a 3.73 per cent return in the three-month period ended June 2014.

The end-2015 deadline for Wilmar International's suppliers to comply with its new sustainability policy is ambitious, its CEO and chairman Kuok Khoon Hong conceded, but can be achieved if Wilmar has the support of "other big stakeholders".

OCBC Bank and its insurance arm, Great Eastern Holdings, have agreed to exclusively discuss a sale of their stakes in United Engineers (UE) and WBL Corporation with a company controlled by Thai tycoon Charoen Sirivadhanabhakdi and his wife, Khunying Wanna Sirivadhanabhakdi.

CATALIST-LISTED SBI Offshore is in talks with a Middle Eastern-Chinese consortium to build five jack-up drilling rigs.

[SINGAPORE] Hedge funds investing in India have become the world's best performers this year on expectations that Prime Minister Narendra Modi will revive Asia's third largest economy.

TROUBLED luxury boat maker Grand Banks Yachts has turned around from its five-year loss streak, reporting yesterday a full-year net profit of S$1.03 million, against the preceding financial year's S$5.2 million deficit. It also plans to seek exit from the Singapore Exchange watch-list.

CIVMEC posted a 25.4 per cent increase in net profit to S$11.59 million for the fourth quarter, up from S$9.24 million a year ago, on the back of a two-fold jump in revenue over the period, thanks to good momentum in existing contracts.