Fragrance Group acquires Min Yuan Apartments; plans to build hotel development

FRAGRANCE Group’s wholly-owned subsidiary Fragrance Victory has acquired Min Yuan Apartments at 62 Waterloo Street for S$141 million.

Court dismisses claim by ex-employees of Asiaphos' subsidiary

PHOSPHATE mining firm Asiaphos received notice that a claim by former employees of its wholly-owned subsidiary Sichuan Mianzhu Norwest Phosphate Chemical Co has been dismissed, following its hearing in Mianzhu Municipal People’s Court and follow-up mediation.

ST Engineering’s aerospace arm injects US$19.5m into aircraft leasing business

SINGAPORE Technologies Engineering (ST Engineering) announced on Wednesday that its aerospace arm has injected US$19.5 million into ST Engineering Aerospace Resources for the purchase of aircraft assets to support the expansion of the group’s aircraft leasing business.

Yangzijiang inks new order contracts for 5 vessels

CHINESE shipbuilder Yangzijiang Shipbuilding inked new order contracts for five vessels, including three 82,000DWT bulk carriers and two 325,000DWT bulk carriers.

China Jinjiang's majority lenders do not require mandatory prepayment of outstanding loans and amounts under US$200m loan facility

China Jinjiang Environment announced late on Tuesday night that majority lenders do not require the mandatory prepayment of all outstanding loans and amounts as a result of an earlier change in control of the company, with regard to its US$200 million loan facility with Standard Chartered Bank (...

Dasin Retail Trust's private placement 1.2 times subscribed

Dasin Retail Trust has raised S$68.8 million through a private placement that was 1.2 times subscribed in its latest equity fundraising exercise.

Innopac's entire finance and admin staff resigned; requesting for 2-month extension to post results, hold AGM

Investment holding firm Innopac Holdings Limited announced on Tuesday after trading hours that it is seeking a two-month time extension from the Singapore Exchange (SGX) to announce its financial results for the full-year ended June 30, 2019, by Aug 31, 2019, and to hold its annual general...

Bonvests Holdings' acquires company and properties in Morocco for S$29.93m

Property group Bonvests Holdings’ wholly-owned subsidiary Goldcove Pte Ltd has acquired a Moroccan-registered company and several properties for a total sum of about S$29.93 million.

Cache Logistics Trust secures new major tenant to lease over 300,000 sq ft of space in Commodity Hub

Cache Logistics Trust’s manager announced on Tuesday that it has secured a new major tenant to lease over 300,000 square feet of space in Commodity Hub located at 24 Penjuru Road, Singapore.

Apac offers significant growth potential for sustainable bonds: SocGen

INCREASING top-down support from regulators and governments has driven the growth of global socially responsible investment (SRI) bonds in the past few years, with the supply from Asia-Pacific expected to ramp up as financing needs rise in the region, said Raj Malhotra, head of debt capital...

Metech International proposes placement cum warrants issue to raise S$6.88 million

Metech International has proposed a private placement cum warrants issue of up to 22.5 million new shares at an issue price of S$0.153 each, as well as 22.5 million warrants at an exercise price of S$0.0153 each, to raise about S$6.88 million altogether, assuming all the warrants are exercised...

Camsing Healthcare's subsidiary receives letter of demand for S$2.21m plus interest

Camsing Healthcare announced late on Monday night that its wholly-owned subsidiary, William Jacks & Company (Singapore) Private Limited, has received a letter of demand dated Aug 27, 2019 from UOB claiming repayment of S$2.21 million, together with further interests accruing from Aug 23,...

New Toyo's subsidiary to cease production of tissue paper on trade war woes

New Toyo International Holdings announced on Monday after trading hours that its subsidiary Sen Yang Enterprise Co (Senyang) will cease production of tissue paper by Sept 15, 2019, on the back of recurring losses.

CSE Global to acquire US industrial power systems manufacter for US$25.1m

CSE Global’s indirect wholly-owned subsidiary CSE Americas has fully acquired the issued and outstanding membership interests of industrial power systems manufacturer Volta for US$25.1 million from individuals Bradley Davis and Julio Parpacen, in an announcement on Monday after trading hours....

TOPLINE

Maybank aims to diversify income streams

AS dark clouds continue to loom over the global economy, Maybank Singapore aims to double its non-lending income contribution from its retail small and medium-sized enterprise (RSME) segment in the next three years, in an effort to diversify its income streams.

Bank lending dips in July, weighed down by fall in business loans

A DROP in business loans was the main drag to total bank lending in July, even as housing loans continued to slide for the seventh straight month.

Singapore bank lending drops in July as home loans shrink further: MAS preliminary data

BANK lending in Singapore dipped in July from a month ago on broad weakness across both business and consumer loans, preliminary data from the Monetary Authority of Singapore showed on Friday.

Maybank could be in the running for digital banking licences

MAYBANK Singapore could be in the running for one of the five digital banking licences up for grabs, and is in talks with its head office in Malaysia on the matter, revealed Alvin Lee, Head of Community Financial Services Singapore and Group Wealth Management, Maybank.

Singapore July factory output beats forecasts, technical recession may be averted

SINGAPORE'S factory output fared better than forecast in July, but economists caution it is too early to hail a manufacturing turnaround as the US and China intensify their tariff brinksmanship.

Singapore manufacturing output dips 0.4% in July, beating forecasts

SINGAPORE’S factory output declined 0.4 per cent in July from a year ago, beating economist forecasts of a drop of 5.8 per cent despite remaining in negative territory for the third consecutive month.

StanChart says its global network gives it an edge over rivals

AMID the clouds seeded by the trade war, Standard Chartered (StanChart) sees opportunities from helping clients navigate the increasingly complex cross-border financing landscape.

SINGAPORE ECONOMY

2019 exports forecast slashed as Q2 performance dives 14.6%

IT WAS a sea of red as Singapore's non-oil domestic exports (NODX) sank by double digits in the second quarter, marking its third straight quarter of decline.

Temasek's Heliconia takes stake in gaming chair firm Secretlab

TEMASEK-OWNED Heliconia Capital Management is taking a minority stake in home-grown gaming chair brand Secretlab, in a deal estimated at S$200 to S$300 million.

Temasek's Heliconia takes stake in homegrown gaming chair brand Secretlab

TEMASEK-OWNED Heliconia Capital Management is taking a minority stake in homegrown gaming chair brand Secretlab, in a deal estimated at S$200 to S$300 million.

NODX forecast slashed to -9 to -8% for 2019; Q2 performance sinks by double-digits

SINGAPORE’S key non-oil domestic exports (NODX) sank by double digits in the second quarter, contracting by 14.6 per cent compared to a year ago, Enterprise Singapore said on Tuesday.