SINGAPORE ECONOMY

Virus outbreak derails Singapore exporters' hopes of recovery

SINGAPORE'S manufacturers and exporters had seemed poised for recovery as global trade sentiments improved in late 2019, but are now facing prolonged agony in the near term.

Singapore exports, the canary in the coal mine for Covid-19 impact, fall by 3.3% in January

SINGAPORE exports were back in negative territory in January 2020, dragged down by a double-digit drop in petrochemical shipments, according to figures released on Monday.

Singapore lowers export forecast for 2020 on Covid-19, oil price fears

SINGAPORE has cut its export forecasts for 2020, no thanks to the impact of the novel coronavirus outbreak on key trade partners, as well as the drag from lower oil prices.

SINGAPORE BUDGET 2020

Singapore Budget's focus expected to be on manpower issues

THE virus outbreak will put immediate attention on helping businesses retain jobs as the economy takes a hit, but the Budget is still expected to have its focus firmly on Singapore's long-term manpower needs.

Pacific Star's Q2 net loss widens to S$6.63 million; board still thinks it can continue as going concern

CATALIST-LISTED property developer Pacific Star Development sank further into the red in the second quarter, as the whammy of swelling finance costs and its share of an associate’s loss ate into dwindling gross profit, according to results released on Friday night.

Centurion Corp gets lease extension for Toh Guan dormitory redevelopment

MAINBOARD-LISTED housing operator Centurion Corp will get to use a site in Toh Guan as a workers’ dormitory for an extra 25 years, it said in a bourse filing on Friday.

Chip Eng Seng Q4 net profit down by half to S$13.4 million

MAINBOARD-LISTED real estate group Chip Eng Seng Corp’s fourth-quarter earnings took a hit from a double-digit drop in contributions from the core property development business, according to results released on Friday.

No Signboard's Q1 losses widen to S$1.21 million

CATALIST-LISTED restaurant group No Signboard Holdings saw its losses balloon in the first quarter on the back of depreciation and amortisation expenses as new accounting standards were adopted, according to unaudited results released on Friday.

Falcon Energy, subsidiary move to call creditor votes

DEBT-HIT offshore and marine group Falcon Energy and its Asetanian Marine subsidiary have both moved to call creditor meetings to vote on compromises or schemes of arrangement, mainboard-listed Falcon said in a bourse announcement on Friday.

Best World International, under probe, asks for more time to prepare documents as Covid-19 hits

MAINBOARD-LISTED skincare product company Best World International, which is facing a bourse probe over its sales model in China, has again asked for more time to hold its annual general meeting (AGM), plus an extension to the deadline for its fourth-quarter results release.

Sakae narrows Q2 net loss to S$734,000

MAINBOARD-LISTED food and beverage (F&B) player Sakae Holdings trimmed its second-quarter loss by a tad, according to results released on Friday, as the Japanese restaurant operator continued with “streamlining group operations”.

GYP Properties Q2 net profit up by 35.4% to S$2.03 million

MAINBOARD-LISTED GYP Properties - the former Global Yellow Pages - held up its bottom line in the second quarter by paring its costs, even after selling off its food and beverage and online and print directory businesses in the year before.

Chuan Hup Holdings back in the black with Q2 net profit of S$3.93 million

MAINBOARD-LISTED property investment company Chuan Hup Holdings was back in the black in the second quarter, according to unaudited results released on Friday.

Sunseap raises S$100 million in Series D funding from Thailand's Banpu

SINGAPORE-BASED solar energy solutions provider Sunseap Group has raised a fresh S$100 million in Series D funding, it announced on Friday, with the funds going to regional expansion.

F&N provides guarantees for Charoen Sirivadhanabhakdi's Starbucks Thailand deal

MAINBOARD-LISTED drinks maker Fraser and Neave (F&N) will offer corporate guarantees to third-party lenders for associate Coffee Concepts (Thailand) Co’s financial obligations, according to an interested-person transaction disclosure filed on Friday.

8Telecom weighs transfer of listing status to South Korean health product company

TELECOM infrastructure group 8Telecom International Holdings’ listing status could be transferred to a South Korean health product company, its judicial managers told the Singapore Exchange on Friday.

Hiap Seng Engineering widens Q3 loss to S$5.43 million

MAINBOARD-LISTED Hiap Seng Engineering, which is going through restructuring, widened its third-quarter losses as turnover took a tumble from lower recognition of revenue, according to unaudited results released on Friday.

Cheung Woh Technologies gets go-ahead to re-open Chinese factories

MAINBOARD-LISTED Cheung Woh Technologies, which makes hard disk drives and precision metal-stamping parts, has been given permission from the local Chinese authorities to resume production at its plants in the Guangdong city of Zhuhai.

KrisEnergy unit faces statutory demand; another subsidiary transfers offshore production interest

MAINBOARD-LISTED oil and gas company KrisEnergy, which is in the throes of debt restructuring, has been hit with a demand for US$2.84 million, the board disclosed on Friday.

Sats Q3 profit down 14%; warns of hit from Covid-19 epidemic

MAINBOARD-LISTED aviation services provider Sats has warned that its short-term showing could take a hit from the deadly Covid-19 epidemic, even as it posted a fall in third-quarter earnings on the back of higher, expansion-related costs.

SGX asks Vividthree to explain why company is raising more funds

CATALIST-LISTED visual effects studio Vividthree Holdings told the bourse on Thursday that it has had to turn to a new fundraising exercise for working capital, despite unused proceeds from its initial public offering (IPO) in 2018.

First Sponsor launches, prices S$100m in 3.29% notes due 2025

PROPERTY developer First Sponsor Group on Thursday launched and priced S$100 million in 3.29 per cent notes due 2025, it said.

Chasen moves to buy out Malaysian warehouse firm's other shareholder

MAINBOARD-LISTED investment holding company Chasen Holdings has inked a deal to consolidate its ownership of a Malaysian warehouse company, it announced on Thursday.

Chaswood Resources to hold scheme of arrangement vote by Apr 30

CATALIST-LISTED food and beverage operator Chaswood Resources Holdings has got permission from the High Court to call a creditors' vote on its scheme of arrangement, the company disclosed on Thursday.

Overseas Education posts 16% rise in FY2019 net profit of S$8m

MAINBOARD-LISTED Overseas Education Ltd, which runs international school Overseas Family School, kept its bottom line up on the amortisation of intangible assets, according to unaudited results on Thursday.