Challenger Technologies aims to delist with S$0.56-a-share offer

CHALLENGER Technologies announced on Wednesday that it intends to delist from the Singapore Exchange (SGX), with Digileap Capital making a cash exit offer for all of the electronic retailer's shares at an exit offer price of S$0.56 per share...

Frasers Property cashes out its half share of Melbourne office for A$326.2m

FRASERS Property's Australian division is selling its 50 per cent share of Melbourne prime office tower 2 Southbank Boulevard for A$326.2 million (S$312.7 million), the developer said on Wednesday...

Challenger seeks to delist with S$0.56 exit offer price

CHALLENGER Technologies announced Wednesday that it intends to delist, with Digileap Capital making a cash exit offer for all of the electronic retailer's shares at an exit offer price of S$0.56 per share. The offeror is a partnership between the Loo family and Dymon Asia Private Equity, via...

ST Engineering to partner BYD as part of consortium bid for autonomous buses

ST ENGINEERING and China electric-vehicle maker BYD have signed a Memorandum of Understanding (MOU) to develop autonomous bus platforms, as part of the former's plans to form a consortium in response to the Call for Collaboration (CFC) by the Land Transport Authority and the Singapore Economic...

BM Mobility raising US$500,000 for green energy business

MAINBOARD-LISTED BM Mobility is in the process of raising funds for its green energy business in Malaysia, which involves electric scooter sharing, it announced on Wednesday after market close. 

Cache Logistics Trust to acquire warehouse in Australia

CACHE Logistics Trust is proposing to acquire a single-storey logistics warehouse and office facility in Victoria, Australia for A$41.2 million (S$39.5 million), with an initial property yield of 6.8 per cent, the reit's manager announced on Wednesday...

18 medical suites in SBF Center up for sale or lease

EIGHTEEN medical suites in SBF Center in the central business district are up for sale or lease, sole marketing agent Knight Frank said on Wednesday. The units range from 678 sq ft to 2,842 sq ft.

Singapore GDP growth to slow to 2.4% in 2019: report

SINGAPORE'S gross domestic product (GDP) growth in 2019 is expected to slow to 2.4 per cent "against a more challenging environment for exports and the manufacturing sector", down from 3.2 per cent in 2018, said the Institute of Chartered Accountants in England and Wales (ICAEW) in a...

Singapore GDP growth to slow to 2.4% in 2019: ICAEW report

SINGAPORE'S gross domestic product (GDP) growth in 2019 is expected to drop to 2.4 per cent  "against a more challenging environment for exports and the manufacturing sector", according to a report on Monday from the Institute of Chartered Accountants in England and Wales (ICAEW)...

Home retailer Iuiga plans to expand into food, enter Malaysia

SINGAPORE homeware brand Iuiga is expanding its range and reach, introducing food products and consumables in the second half of this year and planning to head to Malaysia next year, chief growth officer Jaslyn Chan told The Business Times. Its Series A funding round is set to close this May.

Asean increasingly important to US firms: AmCham survey

NOW, more than ever before, economic ties with the United States rely not just on what its government does, but on "the US private sector as an indispensable partner", Minister for Foreign Affairs Vivian Balakrishnan said on Wednesday, at an event held by the American Chamber of Commerce...

Singapore retail sales rise 7.6% in January

RETAIL sales in Singapore were up 7.6 per cent year on year in January, recovering from December's 5.8 per cent slump, according to a Department of Statistics (Singstat) statement on Tuesday...

APB Singapore wants Asia to say cheers to zero-alcohol Heineken

AFTER becoming the first Asian market for Heineken's zero-alcohol brew Heineken 0.0, Singapore is set to be its supply hub for the Asia-Pacific region, Asia Pacific Breweries Singapore (APBS) managing director Andy Hewson told The Business Times...

Muji Singapore wants to get bigger; bring in Renovation

BY 2025, Muji fans in Singapore might be able to go to the Japanese retailer for a complete home transformation. When taking concepts such as Muji Renovation abroad, Singapore is the first destination in South-West Asia, said Satoru Matsuzaki, president and representative director of Muji owner...

Wage rise not only criterion to judge worker outcomes in grant funding

WAGE increases will not be the only criterion to judge worker outcomes tied to grant funding, Senior Minister of State for Trade and Industry Koh Poh Koon told the media on Wednesday.

Worker outcomes tied to grant funding need not be wage increases: Koh Poh Koon

THE tying of worker outcomes to grant funding will take place via a "flexible engagement" between Enterprise Singapore and firms, and may not necessarily take the form of wage increases, Senior Minister of State for Trade and Industry Koh Poh Koon told media on Wednesday morning. ...

New 18ha innovation park for agri-tech sector

FOOD and agri-technology is a new growth sector and potential export industry that Singapore is exploring, with a new 18 hectare innovation park in Sungei Kadut, Senior Minister of State for Trade and Industry Koh Poh Koon said in his ministry's Committee of Supply on Monday...

Singapore manufacturing growth slows for sixth straight month in Feb

SINGAPORE'S manufacturing growth continued its steady decline for the sixth straight month in February, with the electronics sector seeing contraction for the fourth month in a row, according to Monday's release of the latest Purchasing Managers' Index (PMI), a leading indicator of...

Singapore must diversify and not overly rely on any market: Chan Chun Sing

EXPANDING Singapore's network of free trade agreements (FTAs) "ensures the diversification of our markets and supply chains, to not overly rely on any one particular market", said Minister for Trade and Industry Chan Chun Sing during the ministry's Committee of Supply on Monday...

New innovation park, steering committee for Singapore agri-tech sector

FOOD and agri-technology is a new growth sector and potential export industry that Singapore is entering, with an upcoming 18 hectare innovation park in Sungei Kadut and a multi-agency steering committee, Senior Minister of State for Trade and Industry Koh Poh Koon said in his ministry's...

Cosco Shipping FY18 profit falls to S$13m

IN THE absence of profit from discontinued operations, mainboard-listed Cosco Shipping International (Singapore) saw net profit fall 93 per cent to S$13 million for the year ended Dec 31, 2018, down from S$189.4 million the year before, the firm announced on Friday evening.

Cosco Shipping FY2018 net profit plummets 93% to S$13m

IN the absence of profit from discontinued operations, Mainboard-listed Cosco Shipping International (Singapore) saw net profit fall 93 per cent to S$13 million for the year ended Dec 31, down from S$189.4 million the year before, the firm announced on Friday after the market closed.
SINGAPORE BUDGET 2019

Govt needs mix of one-off funding and structural increases

ONE-OFF surpluses are not a substitute for the goods and services tax (GST) hike which is needed to support structural spending increases, said Finance Minister Heng Swee Keat.
SINGAPORE BUDGET 2019

Partnering for growth part of 'the Singapore Way', says Heng

THE new Scale-Up SG programme is not about the government "picking winners", but rather, partnering firms that are willing to transform, Finance Minister Heng Swee Keat said in his Budget round-up speech on Thursday...

Govt raises procurement quotation limit to S$90,000

THE upper limit for quotations in government procurement will be raised to S$90,000 this year, from S$70,000, giving small firms greater access, Second Minister for Finance Indranee Rajah said in the Ministry of Finance's Committee of Supply debate...