Posts by Stephanie Irvin
Old Chang Kee H2 net profit up 50% to S$5.3 million on higher revenue
CURRY puff specialist Old Chang Kee on Thursday (May 30) posted a 50 per cent rise in net profit to S$5.3 million for its second half ended March 2024, from S$3.5 million in the same period a year ago. Revenue for the half-year rose 10 per cent to S$50.7 million, from S$46.1 million the year…
Read MoreUS banks have a commercial property blind spot, study warns
Large US banks may be more exposed to commercial property than regulators appreciate because of credit lines and term loans they provide to real estate investment trusts, according to a new study. Big banks’ exposure to commercial real estate (CRE) lending grows by about 40 per cent when that indirect lending to Reits is added,…
Read More🧑💼 Class of 2024 might be in for a wild job hunt
⚖️ A job? In this economy? You’re not imagining things – Singapore’s job market is not looking pretty these days. According to the labour market report for the first quarter of 2024, unemployment rates edged up slightly with 3.1 per cent of Singapore citizens unemployed as of March. Meanwhile, employment growth cooled as it grew…
Read MoreWith WFS under its belt, a supersized Sats aims for S$8 billion in revenue by 2028
AIRPORT-services provider Sats is “in the right spot”, says its chief executive officer Kerry Mok. After acquiring Worldwide Flight Services (WFS) in 2023, it is ready to tap the opportunities arising from the geopolitical tensions across the world, and companies’ adjusting their supply chains to get around the fallout from these hotspots. Post-acquisition, the supplier…
Read MoreST Index stays afloat in Asia’s sea of red, closes flat
THE Straits Times Index (STI) ended Thursday (May 30) at 3,323.38, roughly unchanged from the previous day. Advancers were slightly behind decliners, at 271 to 288, and S$1.14 billion worth of securities changed hands. It was a good showing, as Asian markets were nearly all in the red as sentiment weakened on interest rate expectations.…
Read MoreMorgan Stanley taps HSBC, UBS for private wealth hires in HK
MORGAN Stanley is beefing up its private wealth management business in Asia with two Hong Kong-based senior hires from rival banks. The Wall Street firm hired Edwin Lim as a managing director and sales manager for its Asia private wealth management business, according to an internal memo seen by Bloomberg News. Lim, a veteran…
Read MoreBrokers’ 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…
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