Broker's take: PhillipCapital upgrades UOB to 'buy' on strong loans growth, wealth management fees

PHILLIPCAPITAL has upgraded United Overseas Bank (UOB) to "buy" from "accumulate", with a target price of S$29 after the bank posted a Q4 2017 profit after taxes and minority interests (Patmi) of S$855 million, in line with the broker's estimate...

UOB's discretionary portfolio management AUM tripled in 2017

UNITED Overseas Bank Limited (UOB) announced on Wednesday its discretionary portfolio management (DPM) assets under management (AUM) for its private banking clients in 2017 has tripled, bringing the bank's total wealth management AUM to S$104 billion...

Fullerton's Shanghai unit launches first private fund in China

TEMASEK Holdings' Fullerton Fund Management announced on Wednesday that its unit, Fullerton Investment Management (Shanghai), has launched its first private fund in China, to invest mainly in China A stocks...

Parkway Life Reit prices 3.5b yen fixed rate notes due 2024

THE manager of Parkway Life Real Estate Investment Trust (Reit), Parkway Trust Management, has priced 3.5 billion yen (around S$42.1 million) of six year, senior unsecured notes at a coupon of 0.65 per cent under an existing S$500 million multicurrency debt issuance programme, it announced on...

Innopac still owed S$2.41m from 2016, evaluating restructuring options

INNOPAC Holdings responded late Tuesday night to queries by the Singapore Exchange (SGX) that the group is continuing to evaluate several restructuring options to improve its financial position amid uncertainty over investment outlays for a gold project and a significant portion of trade...
SINGAPORE BUDGET 2018

Singapore Budget 2018: Helping businesses, workers, seniors and more, PM says

THIS year's Budget is aimed at helping businesses grow to support a "vibrant and innovative" economy, and at the same time give workers a leg up in developing capabilities and skills to adapt to an economy which is increasingly going digital, Prime Minister Lee Hsien Loong said in a...

Singapore Budget 2018: 'Well-calibrated', will help lift wages, say Money FM 89.3 panellists

SINGAPORE'S 2018 Budget is "well-calibrated" to address both productivity and help lift wages, said Vishnu Varathan, head of economics and strategy at Mizuho Bank...

Singapore shares begin afternoon trading on negative ground; STI at 3,477.22

SINGAPORE shares resumed trading on Tuesday afternoon in negative territory with the Straits Times Index at 3,477.22, down 0.3 per cent, or 10.66 points, on the day as at 1.03pm.

Singapore Budget 2018: Vibrant economy a key pillar in 'strategic and integrated financial plan', says PM Lee

THIS year's Budget is aimed at helping businesses grow to support a "vibrant and innovative" economy, and at the same time give workers a leg up in developing capabilities and skills to adapt to an economy which is increasingly going digital, Prime Minister Lee Hsien Loong said in a...

AsiaMedic issues profit warning for FY2017

CATALIST-listed healthcare provider AsiaMedic issued a profit warning on Thursday for its full year results ended Dec 31, 2017.

GIC leads investor group to develop North American data centres

GIC will lead a group of investors to form an investment vehicle to develop, acquire and operate data centres across North America, it announced on Wednesday.

Datapulse says possibility of holding EGM, shareholders' dialogue session in April

DIGITAL media storage maker Datapulse announced on Thursday that based on current progress, the board will be able to hold an extraordinary general meeting (EGM) to consider the proposed business diversification and the proposed change of board by Apr 27, 2018.

ASL Marine swings to S$6.4m loss in second quarter

SHIPBUILDER ASL Marine swung to a S$6.4 million loss in its second quarter ended Dec 31, weighed down by lower margins, and lower value of shipbuilding work available.

KOP swings to S$7m profit in Q3

PROPERTY developer KOP Holdings swung to a third quarter profit of S$7 million from a loss of S$667,000 the previous year, helped by an increase in revenue from the real estate origination, management services and hospitality segments, the divestment of subsidiary Scorpio East Properties as well as...

Logistics specialist Chasen's subsidiaries bag S$11.4m of projects

MAINBOARD-listed logistics specialist Chasen Holdings announced its subsidiaries in Malaysia, Vietnam and China had recently bagged four projects worth some S$11.4 million in total.

Raffles Education remains in the red with S$1.4m Q2 loss

RAFFLES Education Corp marked a net loss of S$1.4 million for the second quarter ended Dec 31, 2017, shrinking from a net loss of S$3.9 million in the preceding year, the group said in a Singapore Exchange filing on Wednesday evening after the market had closed.

Asiatravel announces restructuring exercise; Singapore HQ to be shifted to Philippines

THE board of travel website Asiatravel.com announced it is taking steps to streamline the group's business and focus on profitability after undertaking a "comprehensive review" of its various businesses...

GIC leads investor group developing North American data centres

GIC will lead a group of investors to form an investment vehicle to develop, acquire and operate data centres across North America, it announced on Wednesday.

'Digitalise and upskill' employees for modern workplace with technology

ONE of the ways for Singapore's small and medium-sized enterprises (SMEs) to differentiate and upgrade themselves in a competitive business climate is to keep their employees at the forefront of digitalisation...

LMIRT's Q4 DPU down 9.2%

LIPPO Malls Indonesia Retail Trust (LMIRT) posted a distribution per unit (DPU) of 0.79 Singapore cent for its fourth quarter 2017, a decrease of 9.2 per cent from a year ago.

Dyna-Mac warns of Q4 loss

IN a statement to the Singapore Exchange on Tuesday night, offshore engineering services firm Dyna-Mac Holdings warned shareholders the group is expected to report a net loss for Q4 2017, and a cumulative loss for the full year ended Dec 31, when it releases its results.

Courts Asia Q3 profit falls 28% on flat revenue

ACROSS a grim retail environment, Courts Asia reported a drop of 28.7 per cent in net profit to S$3.51 million for its third quarter ended Dec 31, from a restated profit of S$4.92 million a year ago.

M1 announces board reshuffle, appoints new non-executive independent director

TELECOMMUNICATIONS provider M1 Limited on Tuesday announced it has appointed Tan Wah Yeow as a non-executive independent company director with effect from Feb 13.

DBS, NTU partner to train next generation of Singapore wealth managers

DBS Bank and Nanyang Technological University (NTU) will join forces to train the next generation of wealth management talent to meet the industry's growing need for such expertise in Singapore...

O&M firm Gaylin spills more red ink with loss of S$2.6m in Q3

MULTIDISCIPLINARY offshore and marine (O&M) services firm Gaylin Holdings widened its losses for the third quarter ended Dec 31, 2017 - recorded by the company as Q3 FY2018 - by posting a loss of S$2.61 million, a further drop of 29.8 per cent compared to the year-ago period.