Posts by Stephanie Irvin
SBS Transit and French transport operator RATP Dev win tender to operate Jurong Region Line
A JOINT venture between SBS Transit and French multimodal transport operator RATP Dev has won the tender to operate and maintain the Jurong Region Line, Singapore’s seventh Mass Rapid Transit (MRT) line. Both operators were awarded the nine-year licence, which includes an option for a two-year extension, by the Land Transport Authority (LTA) on Thursday…
Read MoreIndian banks review Adani exposure in wake of US bribery allegations
INDIAN banks are reviewing their Adani exposure and whether they need to tighten due diligence, eight bankers said on Thursday (Nov 28), after the group’s billionaire founder Gautam Adani was indicted by US authorities over an alleged US$265 million bribery scheme. Adani Group’s listed stocks, which at one point saw as much as US$34 billion…
Read MoreSingle leverage limit, additional disclosures imposed on all S-Reits: MAS
S-Reit managers will have to disclose their plans to manage Reits’ leverage and ICR levels in their financial and annual reports ALL Singapore-listed real estate investment trusts, or S-Reits, will be subject to a minimum interest coverage ratio (ICR) of at least 1.5 times, and an aggregate leverage limit of 50 per cent with immediate…
Read MoreAbu Dhabi’s IHC maintains outlook on Adani Group stakes as stocks rise sharply
INTERNATIONAL Holding Co’s (IHC) outlook on investments in India’s Adani Group remains unchanged, the Abu Dhabi conglomerate said following the US indictment of billionaire Gautam Adani, while the company’s shares rose strongly for a second day on Thursday (Nov 28). “Our partnership with the Adani Group reflects our confidence in their contributions to the green…
Read MoreHot stock: PEC rises 11.4% after talks of potential share deal
The counter climbs 11.4 per cent or S$0.085 to S$0.83 as at 11.18 am. SHARES of engineering company PEC were up 11.4 per cent on Thursday (Nov 28) following talks of a possible share deal. The counter had climbed 11.4 per cent or S$0.085 to S$0.83 as at 11.18 am. At the midday trading break,…
Read MoreMizuho weighs new push to target India’s private equity boom
MIZUHO Financial Group is considering making a push into a new area for the lender in India focusing on private equity and venture capital firms, seeking to tap some of the most prolific dealmakers in the country. Japan’s third-largest bank has held internal discussions on targeting this segment and is drawing up the potential talent…
Read MoreAmazon injected S$2 billion into its Singapore businesses in 2023
AMAZON on Thursday (Nov 28) announced that it injected more than S$2 billion into its retail and cloud businesses in Singapore in 2023. The outlay comprised capital expenditure, including improvements to existing infrastructure such as fulfilment centres, delivery stations and data centres. It also covered operating expenditure, such as expenses related to technology, safety, the…
Read MoreGold prices held steady amid growing tariff war fears
GOLD prices were steady on Thursday (Nov 28), as investors digested a flurry of economic data in the previous session and evaluated the possibility of a tariff war sparked by US president-elect Donald Trump’s policies. Spot gold was flat at US$2,636.35 per ounce, as at 0013 GMT. US gold futures fell 0.1 per cent to…
Read MoreSingapore stocks rise on optimism over rebound in real incomes and easing inflation; STI up 0.8%
SINGAPORE stocks ended higher on Thursday (Nov 28) after the Republic reported a rebound in real incomes for 2024, according to preliminary estimates, as inflation eased. A Ministry of Manpower report on Thursday showed that real income growth was 3.4 per cent after adjusting for inflation, recovering from a decline of 2.2 per cent in…
Read MoreIReit Global inks lease contract with Premier Inn to reposition Berlin Campus into mixed-use space
EUROPE-FOCUSED real estate investment trust (Reit) IReit Global has signed a lease contract with UK hotel chain Premier Inn for 10,348 square metres or 12 per cent of net lettable space in its Berlin Campus asset. The Reit’s manager said on Thursday (Nov 28) that the lease agreement is for a long lease period of…
Read More