Posts by Stephanie Irvin
Brokers’ take: KGI initiates coverage on Q&M Dental with ‘outperform’, S$0.35 target price
KGI Securities has started coverage on Q&M Dental : QC7 0%with an “outperform” recommendation and a 12-month target price of S$0.35. In a report on Thursday (May 30), KGI analyst Tang Kai Jie attributed the positive rating to Q&M’s business resilience and stabilising margins as well as growth potential. In his view, the private dental…
Read MoreHotel group Shangri-La to sell debut 1 billion yuan panda bonds
Luxury hotel operator Shangri-La Asia is tapping the onshore Chinese bond market for the first time, as diverging interest rates have made yuan borrowings significantly cheaper than debt denominated in other major currencies. Shangri-La is marketing a 3-year, 1 billion yuan (S$186.5 million) panda bond – notes sold by offshore issuers in China’s domestic interbank…
Read MoreUBS splits wealth management role amid executive reshuffle
UBS on Thursday (May 30) said Rob Karofsky would become head of the Americas and co-president of global wealth management with Iqbal Khan, who will take charge of the Asia-Pacific region as part of shake-up of the Swiss bank’s executive board. Khan will relocate to Asia to assume the role as part of a series…
Read MoreHot stock: Sats up 6.8% on heavy trading after H2 earnings surge
SHARES of Sats rose as much as 6.8 per cent on Thursday (May 30) after the company reported stellar results the day before. As at 9.46 am, the counter was up S$0.18 at S$2.81 with 14 million shares changing hands. The last time it closed at this level was in Feburary. The in-flight caterer and…
Read MoreAsia: Markets extend losses with Wall Street as rate hopes dim
ASIAN markets fell on Thursday, with traders tracking losses on Wall Street fuelled by concerns over rising Treasury yields and fading hopes for US interest rate cuts. The losses in equities extended a more than week-long sell-off that came on the back of forecast-beating data and warnings from Federal Reserve officials that they were in…
Read MoreYen’s relentless slide revives Japan’s interest in structural reforms
JAPANESE policymakers are turning their attention to more structural economic factors behind persistent yen declines, convinced that market intervention is limited in its ability to reverse the currency’s broader slide. Data due out on Friday is likely to show Japan spent roughly 9 trillion yen late April through early May to slow the decline in…
Read MoreGold prices flat ahead of US inflation data
GOLD prices were flat on Thursday (May 30), as investors awaited a key US inflation reading that could provide further insights into the Federal Reserve’s policy path. Spot gold was unchanged at US$2,338.04 per ounce, as at 0125 GMT, after falling 1 per cent in the previous session. US gold futures were down 0.2 per…
Read MoreSingapore shares fall at Thursday’s open; STI down 0.2%
SINGAPORE equities dipped at the opening bell on Thursday (May 30) as overnight declines in US and European markets kept investors on the sidelines. As at 9.01 am, the Straits Times Index (STI) shed 6.8 points or 0.2 per cent to 3,316.4. Across the broader market, losers outnumbered gainers 65 to 32 after 37.8 million…
Read MoreSabana Reit manager mulls Quarz’s proposed amendments to EGM resolutions after court ruling
THE manager of Sabana Industrial Real Estate Investment Trust (Sabana Reit) is considering several modifications to the resolutions proposed by Quarz Capital while seeking legal advice, it said on Wednesday (May 29). The extraordinary general meeting (EGM) requisitionists proposed changes to the resolutions in response to the court ruling updated last Friday that requires trust…
Read MoreLas Vegas Sands CEO sees big surge in Singapore gaming revenue in near future
LAS Vegas Sands (LVS) – the parent company of Singapore’s Marina Bay Sands – will give more details of its upcoming expansion project later this year, said chief executive officer Rob Goldstein at an investor conference on Wednesday (May 29). The new fourth tower was first announced in 2019 and full-scale construction is expected to…
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