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Singapore Wrap Thursday
Today's notable stories
- Noble Group's FY14 profit tumbles 46%; writes off US$200m for Yancoal
Noble Group's net profit in 2014 fell 46 per cent to US$132 million, despite a rise in revenue, as its losses on supply chain assets soared
Hot stock: Noble halts trading as Iceberg lashes out with fresh allegations; 3rd report coming
UPDATE: Noble says auditor EY seeks more time, refutes Iceberg's fresh allegations
UPDATE 2: Noble refutes Iceberg's claims, says auditors will sign off on accounts, will lift trading halt on Feb 27
- Singapore January factory output rises 0.9%, comes under expectations
Singapore's manufacturing sector expanded less than expected in January, with factory output rising just 0.9 per cent on a year-on-year basis - far lower than the market's consensus forecast of a 3.3 per cent increase.
- Lee Kuan Yew still in ICU, remains sedated
Former Singapore prime minister Lee Kuan Yew is still in intensive care at the Singapore General Hospital (SGH), said a statement from the Prime Minister's Office on Thursday morning.
- UOL Group's FY2014 net profit falls 13% to S$686 million on lower fair value gains
Property and hotel group UOL posted a 13 per cent drop in net earnings for the year ended Dec 31, 2014 to S$686 million - due mainly to lower fair value gains.
- Hong Leong Finance full-year profit falls 10% on allowances for bad debt
Hong Leong Finance on Thursday reported a 10.4 per cent fall in full-year net profit, as it took an allowance for doubtful debts.
- Singapore: Stocks dragged down by Jardine and banks
Pressure on the Jardine stable and the three banks on Thursday meant the Straits Times Index ended the session with a 14.65-point loss at 3,426.18. Turnover at 1.1 billion units worth S$946.2 million was below the S$1.1 billion averages seen in the past few days. Excluding warrants, there were 188 rises versus 225 falls.