Sector Focus

Lippo group moves assets around to lighten balance sheet, monetise assets and raise fee income
SINGAPORE (Mar 15): Unitholders of Lippo Mall Indonesia Retail Trust (LMIRT) are preparing to dig deep into their pockets to finance the real estate investment trust’s proposed acquisition of Lippo Mall Puri for IDR3,700 billion ($354.7 million). Among its largest unitholders, Tong Jinquan holds 5.91%, or 168.94 million units. In total, including the Value Added Tax of IDR370 billion, the ...
Heineken finds new growth in non-alcoholic beer
SINGAPORE (Mar 15): After acquiring its rivals to become Europe’s largest and the world’s second-largest brewery company in recent years, Heineken International is now seeking growth by expanding its sizeable beer portfolio to include the fledgling, yet fast-growing, non-alcoholic beer segment. Heineken 0.0 is the non-intoxicating, low calorie answer to the company’s namesake beer. ...
Singapore water debacle threatens 90% losses for investors
SINGAPORE (Mar 13): The catastrophic slump of Singapore’s much-vaunted water and power company, Hyflux Ltd., has stunned 34,000 retail investors who were lured by the promise of a 6% annual return forever from a company that seemed to have a gold seal of government approval. At the heart of the debacle is Tuaspring, a desalination and power plant that cost $1.1 billion and was heralded as ...
CDL CEO unwinds PPS, prepares for proper fund management business
SINGAPORE (Mar 11): Sherman Kwek, CEO of City Developments (CDL), is restarting the local developer’s plans for a fund management business while winding down the profit participation securities (PPS) implemented by his predecessor Grant Kelley. PPS was an in-house securitisation method. During a recent results briefing, Kwek, who became CEO in January 2018, articulated that CDL needed a ...
Why Northeast Asian economies needn't panic over the global electronics slowdown
SINGAPORE (Mar 5): Oxford Economics says the prospects of Northeast Asian economies, which are uniquely exposed to the ongoing global electronics slowdown, are not as bleak as they seem. This is due to trade diversion’s partial mitigation of the impact of US-China trade tensions as well as limited direct competition between China and other Northeast Asian economies in the high-value field of ...
HRnetGroup steps up regional growth, increases dividend payout
SINGAPORE (Mar 4): It is 8.30am, and Adeline Sim, executive director of HRnetGroup, and her colleagues are gathered in the lobby of their office for a 20-minute daily exercise-and-meditation qigong routine, which helps keep the staff happy and healthy. This morning routine is not HRnetGroup’s only unique practice. Companywide internal meetings are held on Saturdays, ...
CapitaLand's enlarged size to impact future of Singapore, enable it to achieve global ambitions
SINGAPORE (Mar 4): Vertigo-inducing videos on CapitaLand’s website show The Crystal, a 300m-long skybridge, being hoisted 250m to sit atop four skyscrapers that make up part of Raffles City Chongqing (RCCQ). The project, comprising eight skyscrapers and designed by renowned architect Moshe Safdie, will be the latest jewel in the real estate developer’s crown when it is completed in ...
mm2 Asia devises plot for regional growth, but new funds needed
SINGAPORE (Mar 4): Four years ago, mm2 Asia went public to fund its ambition to become a regional media powerhouse. Investors were only too keen to back a scrappy underdog with big dreams. In a few short years, mm2 now has a chain of cinemas, a concert organiser, a visual effects studio and an online video platform. It makes content for East Asia and Southeast Asia, from film to TV and online ...
IHH sees 403% surge in 4Q earnings
SINGAPORE (Mar 4): IHH Healthcare’s net profit for 4QFY2018 ended Dec 31 jumped 403% to RM509.42 million ($169 million), from the RM101.26 million it posted a year ago, as the group recorded stronger operational performance, boosted by foreign exchange (forex) gains from Acibadem Holdings’ non-Turkish lira loans. Revenue for the quarter ended Dec 31, 2018 rose 10% to RM3.17 billion, from ...
Heng's speech lifts Creative's share price, but earnings recovery yet to materialise
SINGAPORE (Feb 25): On Feb 18, Finance Minister Heng Swee Keat took two hours to deliver the 2019 Budget speech. After Heng lauded the entrepreneurial grit of Creative Technology’s founder and CEO, Sim Wong Hoo, its shares jumped 3.6% in just 10 minutes. Sim, who enjoyed success in Creative’s early years, has struggled to consistently deliver hit products — until perhaps recently. “I ...