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A Cordlife client has sent a letter of demand, alleging breach of a service agreement and breach of duty of care in negligence.
Changi Airports International (CAI), a global airport consultant, manager, and investor, and Wuxi Sunan International...
Laws for work injury compensation, CPF contributions, collective representation coming this year
Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto, and the British Minister of Trade, Greg Hands, have discussed strengthening ...
Singapore-based Temasek Trust has launched a new advisory services unit led by a former UBS...
The hotel segment posted an 8.4% YoY higher revenue in 1Q24. The net property income (NPI) of Far East Hospitality Trust (FEHT) rose 6.0% YoY to $25.1m in 1Q24 on the back of higher gross revenue. In a bourse filing, FEHT said its gross revenue increased 7.5% YoY to $27.1m, driven by the strong growth of its hotels and commercial premises segments. In 1Q24, FEHT’s hotel segment posted an 8.4% YoY higher revenue of $20.0m. Meanwhile, the commercial premises segment recorded a 10.0% YoY ...
Many still struggle to deal with multiple channels to reach different target audiences. To keep pace with the technological advancements and meet the fast-changing needs of customers, 81% of companies in Singapore said they evolved more in the last four years than in the past two decades, according to a survey by HubSpot Research. That rate was the highest in all of the countries surveyed and even surpassed the 72% global average. Despite this, 71% of Singapore-based firms still feel t...
The supermarket attributed the increase to better sales. Sheng Siong Group’s net profit rose 8.9% YoY to $36.3m in 1Q24. In the same period, the supermarket reported a 5.5% YoY increase in its revenue to reach $376.2m. The company attributed its improved net profit and revenue to an increase in sales of 8% YoY from comparable same stores. “Another contributing factor was the longer sales period before Lunar New Year which fell in February this year compared to January last year,” the c...
Its real estate investment business (REIB) revenue fell 4% YoY. CapitaLand Investment’s (CLI) total revenue dipped to $650m in 1Q24 from $651m in 1Q23. Breaking down by business segments, CLI recorded a 4% YoY lower real estate investment business (REIB) revenue of $430m but saw a 7% YoY higher fee income-related business (FRB) revenue of $274m. FRB accounted for 39% of CLI’s total revenue for the period, whilst REIB accounted for 61%. CLI attributed the increase in its FRB segment to ...
The company attributed the loss to $3.1b in non-cash impairments. Singapore Telecommunications (Singtel) warned shareholders that it is expecting a net loss in the second half of the year and lower net profit for the financial year ended 31 March 2024. In a bourse filing, the company said it would recognise non-cash impairment provisions of $3.1b in 2H24. Singtel, however, assured its shareholders that the non-cash impairment provisions will not impact its payment of dividends and the ...
Excluding the biomedical manufacturing segment, output would’ve decreased by 5.9% YoY. Singapore’s manufacturing output fell by 3.2% YoY and 16.0% MoM, the latest data released by EDB Singapore revealed. Excluding biomedical manufacturing, which recorded a 34.3% YoY contraction, March’s manufacturing output would have fallen by 5.9% YoY and 8.7% MoM. Apart from biomedical manufacturing, electronics (-11.3% YoY), general manufacturing (-3.2% YoY), and transport engineering (-9.7% YoY) a...
DBS is the top stock despite a 0.087% decrease. The Straits Times Index (STI) closed at 3,274.86 down 0.39% on Friday, 26 April, at 5:21 p.m. DBS is the most active stock, followed by OCBC Bank (-0.419%) and Singtel (0.413%). UOB and YZJ Shipbldg SGD were at the foot.
In 1Q24, prices rose faster, by 1.8% QoQ. HDB resale prices in 2024 could outpace 2023 amidst high demand from first-time buyers, downsizing private homeowners, and limited flat availability, real estate expert said. Taking into account the three factors, OrangeTee said HDB resale prices may rise by up to 5% in 2024, slightly higher than the 4.9% growth in 2023. Huttons predicts a full-year price growth of 3% to 5%. 'Demand from first-time homebuyers and private homeowners who are down...
In Singapore, RevPAR rose 16.6% YoY to $205. CDL Hospitality Trust’s net property income (NPI) rose 6.8% YoY to $34.9m amidst growth in its revenue per available room (RevPAR) across all graphical markets. In Singapore, RevPAR rose 16.6% YoY to $205, driven by a 14.2 percentage point increase in occupancy. With improved RevPAR, the REIT’s Singapore business also saw a 12.8% or $2.3m YoY higher. “A volume strategy was adopted for the seasonally weaker quarter of the year for hotels in S...
Manufacturing output fell 3.2% YoY in March. Economists have cut the GDP growth forecast for 1Q24 to 2.2% in light of the weak industrial production print in March. The Ministry of Trade and Industry (MTI) anticipates GDP growth to reach 2.7%. 'We were surprised at the softness in March’s manufacturing performance, even as we continue to see signs that consumer and semiconductor-related demand remain supported,' RHB said. UOB had a similar estimate, saying that the March IP could imply...
