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 ...)
Singapore’s Plan to Woo More Unicorns Would Be a ‘Game Changer’
Singapore Exchange's boldest move in years is designed to make it the go-to-place for potential IPOs for Southeast Asian start-ups, such as ride-hailing services Grab and GO-JEK, and online retailers Tokopedia and India's Flipkart. Such a change ... ( read original story ...)
Double delight for Accenture innovation in US and Singapore
As Banking Technology reported last month ... marketing and performance reporting for a number of leading financial institutions”. Meanwhile, in Singapore, the firm has unveiled another one of its “liquid studios”. Last week, it opened one in ... ( read original story ...)
Singapore banks to reap surprise benefits from real estate
Asset quality for home loans will stabilise. Singapore banks are more than likely to get a boost from the recent easing of property rules. According to UOB KayHian, the fine recalibration of seller’s stamp duty represents the first relaxation of demand ... ( read original story ...)
Banks tussle for the brightest from the Class of 2017
Last year, Credit Suisse received over 13,000 applications across the region for internship and full-time graduate roles; more than 4,000 came from Singapore. The bank did not disclose the final number who were offered jobs this year. Last year ... ( read original story ...)