Business Headlines and Stock Market News by Singapore Financial News Publishers

CGS-CIMB lifts AEM Holdings TP to $4.78 on initial success in customer diversification

Felicia Tan - CGS-CIMB Research has kept “add” on AEM Holdings with a higher target price of $4.78 from $4.61 previously. The positive outlook is due to AEM’s success in diversifying its customer base. On Aug 31, AEM announced that it had been selected to be the system level test (SLT) solution supplier for ...

Doctor acquitted of molestation: AGC repeats call for lawyer to ‘explain his conduct’, rebuts claims in TOC article

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Temasek remains bullish on China in long term; looks to companies focusing on digitisation and e-commerce as well

Bloomberg - As if the pandemic wasn’t warping global markets enough, China’s regulatory crackdown is suddenly adding new unpredictability. So how best to invest in these strange times? Bloomberg News spoke with institutional investors with US$3 trillion ($4.03 trillion) in combined assets under management t ...

Changi Airport Terminals 1 and 3 reopen to the public, shops excited to welcome visitors

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Alpha DX to manage and establish university in Uzbekistan via a joint venture

Claudia Tan - LEARNING solutions company Alpha DX VVL said on Wednesday that it will, together with the Ministry of Higher and Secondary-Specialized Education of the Republic of Uzbekistan (MHSSE) be injecting some US$50 million into a joint venture (JV) for the development and growth of a university in Uzbekist ...

US identifies 12th Tesla assisted systems car crash involving emergency vehicle

WASHINGTON : U.S. auto safety regulators said Wednesday they had identified a 12th crash involving Tesla Inc vehicles that were using advanced driver assistance systems in incidents involving emergency vehicles.The National Highway Traffic Safety Administration (NHTSA) on Aug. 16 said it had opened ...

Tokyo Paralympics: Singapores Sophie Soon finishes 4th in womens 100m breaststroke SB12 final

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Most firms that hire foreigners supportive of paying locals at least S$1,400, manufacturers fear losing competitiveness

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Ex-Sinopec executive Cao investigated by China anti-graft agency

BEIJING : Chinas top anti-graft watchdog said on Wednesday it was investigating ex-Sinopec Group vice president Cao Yaofeng, in the latest probe into a former executive at the energy giant.Chinese President Xi Jinping has waged a war on corruption since he came to power in 2012, locking up doz ...

Looking back at why REITs outperform

Goola Warden - Since Sept 2002, which is as far back as the FTSE REIT Index goes, REITs have outperformed the Straits Times Index by two times. Including distributions reinvested, the FTSE REIT Index has gained 520% these 20 years while the STI, with dividends reinvested, is up just 242%. In the past 10 years, the ...

Hewlett Packard Enterprise wins US$2 billion computing service deal with US National Security Agency

(Corrects name of company in headline) Hewlett Packard Enterprise Co on Wednesday said it won a 10-year, US$2 billion contract to supply high-performance computing systems to the U.S. National Security Agency (NSA).The systems will be used for artificial intelligence computing, the company said. Th

Hewlett Packard wins US$2 billion computing service deal with US National Security Agency

Hewlett Packard Enterprise Co on Wednesday said it won a 10-year, US$2 billion contract to supply high-performance computing systems to the U.S. National Security Agency (NSA).The systems will be used for artificial intelligence computing, the company said. The system will be housed in a data center ...

China to step up financing support for small firms

BEIJING :China will boost financing support for small firms by increasing annual relending quotas by 300 billion yuan (US$46.39 billion), the cabinet said on Wednesday.China will step up support for small- and medium-sized firms to help stabilise economic growth and employment, as rising commodity p ...

China says it will step up financing support for small firms

BEIJING : China will step up financing support for small firms by increasing annual relending quotas by 300 billion yuan (US$46.39 billion), state media quoted the cabinet as saying on Wednesday.The central bank will provide more support via rediscount instruments to help ease financing burdens of s ...

Exclusive-Amazon CEO unveils 55,000 tech jobs in first hiring push under his watch Inc is planning to hire 55,000 people for corporate and technology roles globally in the coming months, Chief Executive Andy Jassy told Reuters.That’s equal to more than a third of Google’s headcount as of June 30, and close to all of Facebook’s.Jassy, in his first press interview

RHB upgrades Keppel REIT to buy on being a beneficiary of economic reopening and sustainability wave

Felicia Tan - RHB Group Research has upgraded Keppel REIT to “buy” with an unchanged target price of $1.20, as it sees value emerging at its current levels. As at the time of writing on Sept 1, the REIT is trading at 0.8 times price-to-book value (P/BV), says analyst Vijay Natarajan. The REIT’s assets – c ...

Best offer for EHTs struggling hotel in New Jersey was US$23.5m

Claudia Tan - EAGLE Hospitality Trust (EHT) trustee DBS Trustee on Wednesday said in a regulatory filing that the highest and best offer received for EHTs Delta Woodbridge Hotel (DW) in New Jersey, USA, was US$23.5 million.

Malaysia’s EPF trims stake in Top Glove

Lim Hui Jie - Malaysia’s Employment Provident Fund (EPF) has sold off 47,100 shares in Top Glove on Aug 27. According to filings on SGX on Sept 1, the EPF, which is a federal statutory body under Malaysias Ministry of Finance, now holds over 498 million shares, or 6.22% of Top Glove after the disposal. The con ...

Venture names Temasek-owned Vertex Venture CEO as independent non-executive director

Claudia Tan - VENTURE Corporation V03 on Wednesday announced the appointment of Temasek-owned Vertex Venture Holdings group president and chief executive Chua Kee Lock as the companys independent non-executive director.

WP MPs to file parliamentary questions on Yale-NUS, USP merger for possible debate at Sept 13 sitting

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Biden infrastructure plan takes on EV charging’s inequality problem

The Biden administration has an ambitious US$7.5 billion plan to expand electric vehicle charging to underserved areas, but it must first overcome a host of obstacles that have discouraged private investment in more equitable charging networks.The experience of California - the U.S. state with the l ...

Analysts pin hopes on Singapore’s border reopening to boost economy, top risk is Covid-19 pandemic worsening: MAS poll

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Alpha DX to manage and establish next-gen university in Uzbekistan

Lim Hui Jie - Learning and education solution company Alpha DX will be establishing and managing a so-called “next-gen” university in Uzbekistan. This is the company’s first public and private partnership, and is part of an MOU signed between the company and Uzbekistan’s ministry of higher and secondary-s ...

AIMS APAC REIT issues $250 mil subordinated perpetual securities with coupon of 5.375% p.a.

Felicia Tan - The manager of AIMS APAC REIT has priced $250 million worth of subordinated perpetual securities (or the Series 003 perpetual securities) on Sept 1. The securities will be issued under the REIT’s $750 million multicurrency programme and will bear a coupon rate of 5.375% per annum. The Hongkong and ...

Dating group ParshipMeet prepares for IPO in 2022 - sources

FRANKFURT : Dating group ParshipMeet has started preparations for an initial public offering (IPO) next year as its private equity shareholder seeks to benefit from high sector valuations and sell some of its stake, three people close to the matter said.ParshipMeet, which is 43per cent owned by buyo ...

Explainer: Why ‘local qualifying salary’ is not another word for minimum wage

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Singapore stocks show strong start to September; STI up 1.1%

Jude Chan - THE Straits Times Index (STI) gained 32.79 points or 1.1 per cent to 3,087.84 points on Wednesday as investors shrugged off weak manufacturing Purchasing Managers Index (PMI) figures from across the region.

Chinese EV maker Nio cut sales forecast due to chip supply shortage

BEIJING : Chinese electric vehicle (EV) maker Nio Inc on Wednesday cut its delivery forecast for the third quarter this year due to uncertain and volatile semiconductor supplies.Nio cut its delivery forecast for the third quarter to around 22,500 to 23,500 vehicles from a previous 23,000-25,000 vehi ...

What could be expected from the ESR-ARA combination?

Goola Warden - During an analyst and investor briefing on Aug 20, ESR Cayman’s management received a few questions on its plans for ARA Asset Management’s REITs, given that not all the latter’s businesses provided synergies. Indeed, during an interview with The Edge Singapore, and also in various briefings, ...

Launching into space? Not so fast. Insurers balk at new coverage

An ever-swelling amount of space debris is threatening satellites that hover around Earth, making insurers leery of offering coverage to the devices that transmit texts, maps, videos and scientific data, industry sources said.Thousands of new satellites are being launched into areas where orbital r ...

Venture Corp appoints Chua Kee Lock as independent non-exec director

Lim Hui Jie - Venture Corp has announced the appointment of Vertex Ventures Holdings group president and CEO Chua Kee Lock as an independent non-executive director. Chua is also the CEO of Vertex Venture Management, and holds directorships on seven other companies. Among those, he is the lead independent director ...

Dutch e-bike maker Van Moof raises US$128 million to expand

AMSTERDAM : Dutch electric bicycle maker Van Moof on Wednesday said it has raised US$128 million to expand production and speed its growth in an investment round led by private equity firm Hillhouse Capital.Van Moof, which also raised US$53.5 million in 2020 amid a pandemic-driven boom in demand for ...

Covid-19: 177 new locally transmitted cases in Singapore, including 90 unlinked ones

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Debt-laden China Evergrande promises buyers it will complete homes

HONG KONG : Deep in debt, Chinas second-largest property developer by sales has promised potential buyers it will complete construction of their homes, as a growing number of contractors file lawsuits or stop work as they seek overdue payments.China Evergrande has been scrambling to raise fund ...

International Plaza put up for collective sale with a record price tag of S$2.7 billion

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Chinas private-sector crackdown is of concern for Singapore economy, analysts say

Annabeth Leow - CHINAS crackdown on private industry has emerged as a major concern for watchers of the Singapore economy, along with pessimism over an export slowdown and worsening fears about the Covid-19 pandemic.

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