The S&P 500 index slid for a third day, dragged by financial (-0.9%) and utility (-0.68%) sectors. Market sentiment has been weighed by news that the FBI is probing possible ties between Russia and Donald Trump’s presidential campaign, according to FBI ... ( read original story ...)
Singapore Bank Stocks: More Oil Pain to Come?
DBS is Maybank Kim Eng’s preferred pick within its Singapore banks coverage despite having the largest exposure to Ezra Holding, the Singaporean oil & gas services company which has filed for U.S. bankruptcy. Maybank Kim Eng has a hold rating DBS with a ... ( read original story ...)
Singapore banks’ exposures Ezra ‘lower than expected’
SINGAPORE (March 20): UOB KayHian says it is keeping to its conservative 2017 earnings forecast for Singapore’s banking sector, which is 6% below consensus estimates for DBS and 7% below consensus estimate for OCBC. This comes after factoring the banks ... ( read original story ...)
Singapore Bans Ex-Bankers Linked to 1MDB From Working in Financial Sector
SINGAPORE—Singapore’s central bank said it has banned a former director of Goldman Sachs Group Inc.’s local branch from operating in the financial sector and plans to ban three more people from other banks, following investigations linking them to ... ( read original story ...)
Singapore banks, energy services stocks wobble following Ezra bankruptcy filing
Ezra has $1.5bn of total liabilities, with Singapore lender DBS facing the single biggest hit, with loans to Ezra of $272m. The bank said on Monday morning via a spokesman: Our exposures to Ezra Holdings were moved to non performing in the third quarter ... ( read original story ...)
Singapore banks' profits could fall by up to 8% in FY17
We estimate Singapore banks have c.SG$217-748m of claims and borrowings to Ezra Group, based on court filings and bank borrowings. If we assume O&G support services’ NPLs require specific provisions of 50 cents per dollar of problem loans, and the ... ( read original story ...)
Citigroup’s voice authentication option reaches one million customers in Asia
The bank was the first financial services company to deploy voice biometrics authentication across Asia Pacific, having implemented the technology in Taiwan, Australia, Singapore, Hong Kong, Philippines, Malaysia, Vietnam, Thailand and India. Citi clients ... ( read original story ...)
Maybank Kim Eng positive on Malaysian equity market
SINGAPORE: Maybank Kim Eng Group, the investment banking arm of Maybank, is positive over the Malaysian equity market, with an expectation of the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) hitting the 1,800-level this year. Chief executive officer Datuk ... ( read original story ...)
Pre-market: What changed overnight & 8 top cues for you before Opening Bell
Nifty50 futures on the Singapore Stock Exchange were trading 29.50 points higher at 9,193, indicating a positive opening for the domestic market. Nifty50 forms 'Bearish Belt Hold' pattern A ‘Bearish Belt Hold’ pattern is formed when the opening price ... ( read original story ...)
Shares of Singapore coffee shop owner perk up on debut
Singapore's largest traditional coffee shop operator marked a stellar debut on the Singapore Exchange, or SGX, with shares trading 120 percent above its initial public offer (IPO) price on debut. As well-caffeinated senior executives stood side by side for ... ( read original story ...)
Analysts mull outcome as Singapore's Ezra holdings seeks shelter from creditors
It also owes about $108 million to a Singapore affiliate of HSBC, according to a Reuters report. "Our exposures to Ezra Holdings were moved to non-performing in the third quarter, and suitable provisions have been made," DBS said in a statement to CNBC. ( read original story ...)
Singapore's economy-tier hotels suffer 5.4% drop in RevPAR
The Singapore Tourism Board categorises hotels into four tiers based on a combination of factors that include average room rates, location, and product characteristics: Luxury, Upscale, Mid-tier, and Economy, according to OCBC. Looking at FY16 RevPAR ... ( read original story ...)
Singapore's hotel room supply to outstrip demand with 5.9% growth
Singapore may have bitten more than it can chew when it comes to tourist accommodations as total hotel room stock increased 4.3% in 2016, which was more than the 2.2% increase in visitor days, according to OCBC. On top of this, OCBC believes that a weak ... ( read original story ...)
Facebook Singapore’s country director on the tech industry and new jobs
Sandhya Devanathan left a banking career after 15 years to enter the tech industry. Having held top managerial roles in Standard Chartered Singapore and Citibank in the United States, she transited to Facebook Singapore in January 2016 and now runs the ... ( read original story ...)
Chart of the Day: Singapore private consumption slumps
More From Singapore Business Review Citibank, Visa to launch a cloud-based B2B platform Here's what Keppel DC REIT can get from its acquisition in SGP 3 Raising taxes over time needed to boost Singapore revenues: Minister Heng ( read original story ...)
Singapore Stock Market May Halt Losing Streak
(RTTNews.com) - The Singapore stock market has moved lower in back-to-back sessions, falling almost 10 points or 0.3 percent along the way. The Straits Times Index now rests just above the 3,135-point plateau, although the market may stop the bleeding on ... ( read original story ...)