Corporate digest

Published Sat, Mar 27, 2021 · 05:50 AM


DBS Group Holdings on Friday said it was appointing senior civil servant Chng Kai Fong as a new non-executive director to the boards of DBS Holdings (DBSH) and DBS Bank. Mr Chng joins the boards on March 31.

Mr Chng is currently the managing director of Singapore Economic Development Board (EDB). In addition to serving on DBS' main boards, he will also serve as a member of their audit committees and nominating committees. As part of DBS' board-renewal process, three long-serving directors, Euleen Goh, Ow Foong Pheng and Andre Sekulic will step down as board members on March 30.

Nanofilm Technologies

Nanofilm Technologies has been included into the FTSE ST Large & Mid Cap Index and the FTSE ST Mid Cap Index with effect from March 22, 2021. This follows the company's inclusion in the FTSE ST China Index and FTSE ST Shariah Index on Dec 21, 2020. The nanotechnology firm said this was in line with its continuing outreach to a high quality and diversified investor base, and the inclusions are expected to increase its exposure to global index funds and provide higher trading liquidity.

As a result of the changes, the firm has been excluded from the FTSE ST Small Cap Index with effect from March 22, 2021.


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Shangri-La Asia

Shangri-La Asia on Friday posted a net loss of US$460.2 million for its full year ended Dec 31, 2020, which was a reversal from a net profit of US$152.5 million a year ago.

Consolidated revenue declined 57.5 per cent to US$1.03 billion, as Covid-19's impact on international and domestic travel industries hit its hotel operations severely. Revenue from its property development segment also declined due to fewer units for handover compared to a year ago, and there was also a drop in its investment properties operations due to weakness at its serviced apartments in Singapore, partially offset by the ramp up of One Galle Face Mall and Tower as well as the growth of its subsidiary Investment Properties in China.

Loss per share was 12.89 US cents, compared to earnings per share of 4.27 US cents a year ago.

In Singapore, its hotel occupancy averaged 45 per cent for the year, compared to 82 per cent a year ago, while revenue per available room was US$51, versus US$179 in the previous year.


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