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Singapore: ST Electronics' Saudi subsidiary; Swing Media acquires Grace Health Group

22 Feb 2017 - DealStreetAsia
ST Electronics is launching a Saudi subsidiary while Swing Media is acquiring Grace Health Group and moving into the wagyu beef business. ST Electronics, the electronics arm of ST Engineering, has established a subsidiary, ST Electronics (Saudi Arabia) (STSA), that is based in Riyadh, Saudi Arabia. The ...

Here are 3 deterrents to RMG's medical tourism growth

22 Feb 2017 - Singapore Business Review
For starters, it is still seeing a drop in medical tourism. For the analysts at CIMB, it is too premature to start turning positive on Raffles Medical Group, seeing that the 1.3% full-year growth is not something to spark a turnaround. According to CIMB, the group's 4Q16 top line growth was weak amidst ...

The Prospex in Bugis now up for grabs

22 Feb 2017 - Singapore Business Review
The sale will be conducted through an EOI exercise. Real estate firm JLL announced the sale of The Prospex in Bugis, a nine-storey newly refurbished commercial building located at 108 Middle Road. JLL noted the property underwent major renovation works in 2015. It was redesigned with brand new full glass ...

Singapore mulls over tax measures to boost revenue

22 Feb 2017 - Singapore Business Review
This comes as budget pressures spike. According to Bloomberg, Singapore’s government is studying measures to boost revenue, including higher taxes, to help ease pressure on the budget as spending increases. “Medium-term expenditures will continue to rise significantly, be it for infrastructure or for ...

SG Dealbook: Noble Group closes $1b borrowing facility; China Yuchai's strategic partnership

22 Feb 2017 - DealStreetAsia
Noble Group Limited successfully completed a $1 billion revolving borrowing base facility while China Yuchai International Limited signed a strategic partnership with Zoomlion Heavy Industry Science & Technology. Noble group announced on Monday that is has successfully closed a $1 billion revolving borrowing ...

Chart of the Day: NODX growth extends its winning streak in January

22 Feb 2017 - Singapore Business Review
It rose 8.6%, continuing its two-month uptrend. Singapore non-oil domestic exports continued the strong growth seen in the past two months, clocking an 8.6% growth in January from 9.1% in December and 15.6% in November. This is due to the increase in both electronic and non-electronic products. The strong ...

UOB loan growth expands 8.9%

22 Feb 2017 - Singapore Business Review
It was driven by Singapore and Indonesia. UOB demonstrated a pristine asset quality with NPL ratio receding 14bp qoq to 1.47% in 4Q16, according to research firm UOB KayHian. The report noted that UOB loan growth expanded in the past quarter, growing 8.9%. "From a geographical perspective, the sequential ...

Here's why businesses are down in the dumps after Budget 2017

22 Feb 2017 - Singapore Business Review
There is an inadequate short-term support to lower compliance costs. The Singapore Business Federation has raised their disappointment after Minister Heng Swee Keat's Budget 2017 failed to provide short-term measures to support the lowering of business and compliance costs. SBF cited for instance that ...

CPO price slump sparks lower plantation profits for Wilmar

22 Feb 2017 - Singapore Business Review
Soybean yields began to drag down CPO prices. Analysts are starting to witness a fall in CPO prices, marking the start of lower plantation profits for agribusiness group Wilmar. According to RHB, good soybean yields reported in Brazil have begun to drag down CPO prices. "We believe the downward pressure ...

Daily Briefing: Budget 2017 lacks incentives to attract foreign investors; More affordable resale HDBs for first-time applicants

22 Feb 2017 - Singapore Business Review
And here are four tips for booking long haul flights at the best prices. Singapore , a Southeast Asian city state whose early economic progress was closely tied to investments from foreign multinationals, presented a budget on Monday that has few incentives to draw more of such investors, one tax expert ...