finance

UOB Venture Management launching second Asia impact fund in 2H

SINGAPORE (June 10): UOB Venture Management (UOBVM) says it intends to roll out its second impact fund, the second series of the Asia Impact Investment Fund (AIIF II), to global institutional and accredited investors in 2H19.

Focused on Asia, the AIIF II will be a double bottom-line fund that aims to achieve both impact and financial returns. It intends to take minority stakes in investee companies, with equity investments ranging from US$1 million to US$15 million ($1.4 million to 20.5 million) each.

NGSC reports former directors to police over $1.1 mil of suspected unauthorised payments

SINGAPORE (June 4): NGSC says it has lodged a police report against two of its former directors for their alleged involvement in suspected unauthorised payments amounting to $1.1 million.

In a filing on Monday, the company says it is in the midst of “seeking legal advice on available courses of action” to recover these suspected unauthorised payments.

New UOB-Mastercard partnership targets SMEs with free golf club access, hotel & dining perks

SINGAPORE (May 28): United Overseas Bank (UOB) and Mastercard today announced the launch of the UOB Regal Business Metal Card, the region’s first World Elite Mastercard metal card for small- and medium-sized enterprises (SMEs).

Singapore banks to shine despite regional macros, competition from fintechs: Maybank

SINGAPORE (Mar 18): Maybank Kim Eng is keeping “positive” on Singapore’s banking sector while noting significant interest among Malaysian investors in Singapore banks from a flight-to-quality angle, and for their high dividend yields as the SGD appreciates.

Malaysia's stock market is Asia's only loser of 2019

KUALA LUMPUR/SINGAPORE (Mar 12): The euphoria following Malaysia’s historic election last May has faded, leaving its stock market as Asia’s only one in the red this year.

The benchmark FTSE Bursa Malaysia KLCI index has fallen more than 1% so far in 2019, the only decliner in the region, while neighboring Singapore has surged 4% and Indonesia gained 3%. The trend is unlikely to change as investors wait for Malaysian government initiatives to cut the budget deficit, clamp down on corruption and boost purchasing power.

Analysts shave UOB forecasts on operating challenges & limited upside, but remain positive at 'buy'

SINGAPORE (Feb 25): Jefferies and OCBC Investment Research are maintaining their “buy” calls on United Overseas Bank (UOB) with a target price and fair value of $30 and $28.30, respectively, even after the bank’s recently reported set of 4Q and FY18 financials came in slightly below both research houses’ expectations.

Local talent can expect a 12-15% salary hike when switching jobs this year, says recruiter

SINGAPORE (Feb 20): In spite of government projects that suggest a slight drop in hiring growth this year, recruitment specialist Michael Page is expecting job growth to continue its steady momentum across 2019 due to talent shortages and high demand for niche talent, with a focus on fintech and e-payment roles.

For 2019, the firm estimates jobseekers can look forward to an average salary increase of 12-15% when switching jobs in similar industries. 

DBS undergoes target price cuts after a record FY18, but remains a 'buy'

SINGAPORE (Feb 19): Jefferies Singapore, OCBC Investment Research and RHB Research are maintaining their “buy” calls on DBS Group while lowering their price targets to $28.50, $29.31 and $28.80, respectively.

This comes after the release of its 4Q18 results, which saw earnings grow 8% y-o-y to $1.32 billion to bring the bank’s earnings for the full year to a record high of $5.63 billion.

DBS tops Asean list for Brand Finance's most valuable banking brands in 2019

SINGAPORE (Feb 7): DBS Bank is No. 34 in Brand Finance’s Banking 500 2019 annual report global rankings, rising six spots from No. 40 in 2018 and making it Asean’s ‘Most Valuable Bank Brand” for the 7th straight year.

Brand Finance is an independent brand valuation and strategy consultancy. Its annual Banking 500 study ranks the world’s most valuable and strongest banking brands using an ISO-certified brand valuation method.

How events like Huawei CFO's arrest affect financial markets

SINGAPORE (Dec 14): By mid-2018, it was shaping up to be the most volatile year for global markets since 2008.

Company share prices have fluctuated in the wake of news flow that was not even strictly corporate; geopolitical-risk events have prompted investors to reassess the value of their holdings. 

On the other hand, corporate events have also turned political: Huawei Technologies’ expansion plans are apparently not sitting well with Western governments, and there seem to have been tit-for-tat arrests between China and Canada.

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