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Singapore Wrap Wednesday
- ARA Asset Management posts 6% increase in 1Q2015 net profit
- Prudential Q1 new business profit falls 11%
- Kingboard Copper Foil Q1 net profit more than doubles to HK$6 million
The Singapore Exchange (SGX) is seeking public feedback on a plan to make listed companies follow sustainability reporting guidelines or else explain why they are not doing so.
Premiums for certificates of entitlement (COEs) stabilised on Wednesday as the first bidding exercise of a new quota offers a substantial 41 per cent increase in supply for the next three months.
UOB said on Wednesday it will offer an onshore loan in Myanmar, making it the first foreign bank operating in Yangon to do so.
Oversea-Chinese Banking Corp, Southeast Asia's second-largest lender, plans to remodel its unprofitable consumer-banking unit in China and focus on corporate banking in an effort to boost profits from the mainland.
The Straits Times Index (STI) on Wednesday recorded a third consecutive loss, losing 11.4 points to end at 3,459.79. Overnight weakness on Wall Street brought on by an escalation of Greece's financial problems was said to be a major factor behind the selling which also affected the rest of the region.