Renald Yeo
JOURNALIST
Renald writes about banks for The Business Times. Before that, he tracked macroeconomic trends and SME struggles.
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UOB’s S$885 million allowance build-up ‘prudent’ despite Q3 profit hit: analysts
In general, analysts do not read the provisioning as a red flag for the bank
UOB’s nearly S$1 billion in extra allowances akin to ‘buying insurance’: CEO Wee Ee Cheong
As a result of the higher allowances, net profit falls 72% to S$443 million
S$1 billion jump in allowances slash UOB Q3 profit to S$443 million
Move made ‘amid evolving macroeconomic conditions’; operating results down 16% at S$1.8 billion
Airwallex crosses US$1 billion in annualised revenue, eyes doubling within a year
The company’s portfolio includes multicurrency business accounts, corporate cards and payments processing services
DBS, OCBC and UOB expected to post flat or weaker Q3 earnings as margins narrow
Focus will be on whether stronger wealth and trading income can cushion lending slowdown
China Premier Li Qiang to make first official visit to Singapore this weekend
This is Li’s first official trip to the Republic
COE quota up 1.5% at 18,984 for November to January 2026 period
Bidding under the new quota will begin on Nov 3
Standard Chartered issues payment demand to mm2 Asia units over S$905,000 debt
The latest demand adds to mm2’s mounting financial troubles
Cat A COE eases to S$122,000, ending streak of record highs
Most of the other categories also dip in October’s second bidding exercise
OUE Reit’s Q3 NPI falls 5.6% to S$57 million on Shanghai asset sale
Revenue also drops 5.8% to S$70.5 million
