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The Edge Singapore

Fragrance Group posts 17% fall in 2Q earnings to $28.1 mil

Fragrance Group has posted a 17.2% drop in earnings to $28.1 million for the 2QFY2014 ended June. Fragrance recorded a turnover of $146.20 million in the second quarter, a 6.7% increase from $137.01 million recorded in the corresponding per ...
Full article at: The Edge Singapore 6 hours ago
 

Sapphire Corp shareholders approve sale of steel-making business for $70 mil

Sapphire Corporation shareholders have approved the sale of its entire steel-making business for $70 million. The sale paves the way for the company to focus on its investment in the Engineering, Procurement and Construction (EPC) business of land transportation ...
Full article at: The Edge Singapore 6 hours ago
 

SMRT Corp posts 37% rise in 1Q earnings to $22.4 mil

Transport operator SMRT Corp has announced a 36.8% increase in earnings to $22.4 million for the 1QFY2015 ended June. SMRT said revenue increased 4.3% to $297.1 million in 1QFY2015 due to higher revenue across mo ...
Full article at: The Edge Singapore 6 hours ago
 

OUE Commercial REIT declares 2Q DPU of 1.43 cents, 5.1% higher than forecast

OUE Commercial REIT Management, the manager of OUE Commercial REIT (OUE C-REIT), has announced an amount available for distribution of $12.5 million for the financial period 1 April 2014 to 30 June 2014 (2Q 2014). This represents a 5.5% increase over the forecast for the same period. 2Q 2014 distribution per Unit (DPU) achieved is 1.43 cents, 5.1% higher than fo ...
Full article at: The Edge Singapore 6 hours ago
 

Global Premium Hotels sees 2Q net profit fall 22% to $3.8 mil

Global Premium Hotels has posted a 22.2% fall in net profit for the 2Q ended June to $3.8 million from $4.9 million a year ago. Total revenue for 2QFY2014 decreased by 5.6% to $14.5 million from a year ago. Hotel room revenue for 2Q 2014 decreased by 5.5% over 2Q 2013. This was mainly due to lower contribution from Fragrance Hotel – Pearl due to temporary closure to carry out Asset Enhancement Works; lower revenue of $0.6 million recognised from the remaining ho ...
Full article at: The Edge Singapore 7 hours ago
 

Singapore Air profit drops on slow travel demand, Tiger’s loss

Singapore Airlines, Asia’s second-largest carrier by market value, said first-quarter profit fell after ticket prices declined and a low-fare carrier affiliate posted losses. Net income in the three months ended June was $34.8 million, compared with $121.8 million profit a year earlier, the carrier said in a statement to the Singapore stock exchange to ...
Full article at: The Edge Singapore 9 hours ago
 

Terratech up 8.7% at 25 cents as of 1pm

Shares of marble producer Terratech Group, which made its Catalist debut this morning, hit 28 cents, up about 22% compared to its IPO price of 23 cents a share. At 1 pm, Terratech was trading around 25 cents each. More than 85.3 million shares changed hands. Terratech, a unit of SGX-listed Tritech, had issued 108.7 million shares, comprising 43.5 million new shares and 65.2 million vendo ...
Full article at: The Edge Singapore 14 hours ago
 

OCBC shares climb as $6.2 bil Wing Hang takeover succeeds: Update

Oversea-Chinese Banking Corp. shares climbed the most in three months as it prepares to take Hong Kong’s Wing Hang Bank private after shareholders accepted its US$5 billion ($6.2 billion) takeover offer. OCBC will delist Wing Hang after raising its ownership to 97.52%, the two lenders said in statements to the Singapore and Hong Kong exchanges yesterday, the last day of the offer. Hong Kong’s takeover ...
Full article at: The Edge Singapore 15 hours ago
 

Hong Kong, Singapore popping housing bubbles London can’t handle

Take a look at the world’s dizzying surges in the price of housing for 12 months at the end of June: London, up 20%. Manhattan, 18%. Sydney, 15.4%. Then there are Singapore and Hong Kong: down 3.7% and 0.6%. Prompted by concerns over potential property bubbles and affordability for the middle class, the governments of the two Asian cities have been reining in home prices by imposing measures including mortgage caps, taxes on property flippers, and levies on foreign buyers as high as 15%. ...
Full article at: The Edge Singapore 17 hours ago
 

OCBC rises most since April as $6.2 bil Wing Hang bid accepted

Oversea-Chinese Banking Corp. shares climbed the most in three months as it prepares to take Wing Hang Bank private after shareholders accepted its US$5 billion ($6.2 billion) takeover. OCBC said it will delist Wing Hang after its stake in the Hong Kong bank rose to 97.52%, according to a statement made to the Singapore stock exchange yesterday, the last day of the offer. Hong Kong takeover rules required OCBC, Southeast Asia’s second-largest lender, ...
Full article at: The Edge Singapore 17 hours ago
 



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