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CapitaLand said to be acquiring Star Harbour International Center project in Shanghai for $2.5 bil
SINGAPORE (Oct 17): CapitaLand is said to be investing about RMB 12.79 billion ($2.54 billion) to acquire the Star Harbour International Center project in Hongkou, Shanghai, according to real estate online portal Mingtiandi. The group is said to be acquiring its most expensive real estate project yet in China from Shanghai Port Group, after the state-run developer announced on last Friday that ...
Few have made it where Tung Lok now treads: SAC
SINGAPORE (Oct 17): Since its founding in 1984, Tung Lok Restaurants (2000) has made a name for itself in the local F&B scene. From serving gourmet Chinese cuisine in its flagship Tung Lok Restaurant, it is now engaging the tastebuds of a younger generation and licensing its brands overseas. As at end March, Tung Lok operates as 43 F&B outlets with 24 directly owned, eight held by ...
Analysts put SPH on 'hold', but is the end of its earnings decline in sight?
SINGAPORE (Oct 17): Analysts across three brokerages – UOB Kay Hian, OCBC Investment Research, and CGS-CIMB Research – have “hold” recommendations on Singapore Press Holdings (SPH), as the group performed below expectations for FY18. SPH saw its full-year earnings fall 19.7% to $281.1 million for the FY18 ended August, from $350.1 million a year ago. However, this was mainly ...
Continued overseas expansion to fuel a stronger 2H for MindChamps: RHB
SINGAPORE (Oct 17): RHB Research is maintaining its “buy” call on MindChamps Preschool with an unchanged target price of 94 cents based on a blended valuation methodology comprising a target EV/EBITDA of 18 times, in line with the peer average, and DCF. In a Tuesday report, analyst Juliana Cai reiterates her positive expectations of the company’s impending release of its 2H results, as ...
Singapore NODX up a higher 8.3% in Sept on non-electronic exports
SINGAPORE (Oct 17): Singapore’s non-oil domestic export (NODX) increased by 8.3% in September, following the 5.0% growth in August; due to growth in non-electronic NODX which outweighed the decline in electronics, reported Enterprise Singapore this morning. Electronic NODX declined by 0.9% in September, following the 1.5% decrease in the previous month. PCs, diodes & transistors and ...
Netflix crushes estimates, renewing faith after July letdown
LOS ANGELES (Oct 17): Netflix Inc.’s Cinderella story isn’t over just yet. The world’s largest paid online TV network added far more subscribers than analysts forecast in the third quarter and issued an upbeat outlook for the current three months, rebounding from a slowdown earlier this year. Netflix signed up 6.96 million customers in the quarter, according to a statement Tuesday, ...
US beats Singapore to top of global competitiveness rankings
ZURICH (Oct 17): The US is back at the top of the global competitiveness league, according to the World Economic Forum, which praised the nation’s entrepreneurial culture and financial system while noting its “weakening social fabric.” In a report that President Donald Trump is likely to see as validating his “Make America Great Again” drive, the US placed ahead of Singapore and ...
Hunt for the next privatisation target, or bet on companies positioned for growth?
SINGAPORE (Oct 15): When I started investing in the 1990s, I quickly became intrigued by companies with assets that were overlooked by the market. In some cases, the asset in question was simply a pile of cash or liquid securities. Other times, it was a strategically located parcel of land that could be sold or developed. The one thing all these assets had in common was that they were not ...
Indonesia arrests nine in bribery probe linked to $29 bil Lippo Group project
JAKARTA (Reuters): Indonesia’s anti-corruption agency has arrested nine people, including a top district government official and a company director, in a bribery investigation linked to the Lippo Group’s US$21 billion ($29 billion) Meikarta real estate project near Jakarta. In a sting operation on Sunday, the Corruption Eradication Commission (KPK) arrested two Lippo Group consultants and ...
Qian Hu posts 23.2% rise in 3Q earnings to $0.2 mil
SINGAPORE (Oct 16): Qian Hu Corporation saw its earnings rise 23.2% to $175,000 for the 3Q18 ended September, from $142,000 a year ago. This was mainly due to handling income of $0.5 million derived from the handling of transhipments in relation to its aquaculture business. Qian Hu did not register any handling income a year ago. As a result, other income surged ten-fold to $0.6 million in ...