Jitters over Indonesia's proposed banking bill
PETALING JAYA - Malaysian ownership of Indonesian banks came under the spotlight again following a proposed bill that compels foreign banks to trim their interests to 40 per cent.Malayan Banking Bhd...
View ArticleFrom mutual fund tycoon to conglomerate chairman
The year 2013 was a turning point for self-made billionaire Park Hyeon-joo, founder of Mirae Asset Financial Group. The company, debuted in 1997 as a mutual fund management firm, advanced onto the list...
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Keppel subsidiary wins approval to explore Pacific seabed
SINGAPORE - A Keppel Corporation subsidiary, Ocean Mineral Singapore Pte Ltd, has won approval from the International Seabed Authority to explore a patch of Pacific seabed for key metals that can be...
View ArticleHDB allows sellers to ask for extension of stay in sold flats
SINGAPORE - Flat sellers are now able to negotiate with their buyers for a temporary extension of stay in the flats by up to three months, the Housing and Development Board (HDB) said in a statement...
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Ascott Reit's DPU rises 5 per cent
Ascott Residence Trust's second-quarter results have received a lift from contributions from new properties in its portfolio.Distribution per unit (DPU) for the three months to June 30 was up 5 per...
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Frasers Commercial Trust's Q3 net income dips 1 per cent
Better occupancies and improved margins for Frasers Commercial Trust's Singapore properties were offset by the weaker Australian dollar in its latest results.The trust yesterday announced third quarter...
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Q2 earnings rise 12% for M1
Telco M1 lifted its second-quarter net profit - thanks to better sales of mobile data - but lower handset numbers took off some of the gloss.Earnings came in at $43.9 million for the three months to...
View ArticleSTI up on Wall Street gains
Singapore shares powered ahead to a fresh 14-month high due to overnight Wall Street gains, although volumes remained lower than average.The Straits Times Index (STI) rose 23.79 points or 0.72 per cent...
View ArticleS'pore may see $11b more in M&A deals this year
Singapore, which has seen about $9 billion worth of mergers and acquisitions (M&As) year to date, could see a further $11 billion pending this year, Daiwa Capital Markets said yesterday.So far, the...
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Agents fight for turf in Iskandar
As the Iskandar region in Malaysia becomes more popular with buyers here, a turf war appears to have broken out between real-estate agents.Malaysian agents are extremely upset that their Singapore...
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Best job? Or just a good marketing ploy?
After the wildly successful campaign launched by Tourism Queensland for the "Best Job in the World", local start-up PandaBed is also offering a "dream job".The firm, which helps travellers to book...
View ArticleS. Korea growth slows as ferry tragedy hits demand
SEOUL - South Korea's economy posted its slowest growth in more than a year in the second quarter, partly due to sluggish consumer spending following April's devastating ferry tragedy.Gross domestic...
View ArticleAmerican Apparel appoints RadioShack CEO to board
American Apparel Inc, a US retailer dealing with high debt and management upheaval, said on Wednesday that the chief executive of another money-losing retailer would join its reshuffled board.American...
View ArticleCooling HDB resale market: Not time to boost demand
The cooling demand for resale Housing Board flats has put some sellers in a quandary.These sellers are those who have already got, or will soon get, their keys to newly completed Build-To-Order (BTO)...
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Rents, new property boost FCT's Q3 earnings
Higher rents and a new acquisition helped Frasers Centrepoint Trust (FCT) post healthier third-quarter earnings yesterday.The trust, which owns six shopping malls, posted a distribution per unit (DPU)...
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Partial upgrading helps lift Suntec Reit's income in Q2
The completion of the first part of Suntec City's upgrading works boosted the income of Suntec Real Estate Investment Trust (Reit) in the second quarter.The lift came even though a large part of Suntec...
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Local stocks up on back of China data
The benchmark Straits Times Index rose 13.19 points or 0.39 per cent to 3,353.89 - its highest close since May 29 last year. The gauge of blue chip stocks has notched up several successive 14-month...
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Sharp rise in private home purchases in Q2
Here's a possible reason why the authorities are not inclined to remove any property cooling measures just yet: There was an across-the-board increase in caveats lodged for private-home purchases in...
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Dakota Crescent to make way for new developments
Dakota Crescent, one of Singapore's oldest public housing estates, is making way for new developments under Mountbatten's estate renewal plans.Residents of the 17 low-rise rental blocks off Old Airport...
View ArticleUEM to restrategise in Johor
PETALING JAYA - UEM Sunrise Bhd, the principal developer of Iskandar Malaysia, says it will restrategise and replan, where necessary, in view of the changes in the property market and the entry of...
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