Hibiki fund says will vote against Accordia Golf Trust divestment unless price is raised

THE price offered by the sponsor of Accordia Golf Trust (AGT) to buy over the trust's golf courses is too low, as these assets generate "significantly attractive cashflow", the largest minority unitholder of AGT has argued in an open letter.

STI OUTLOOK

Liquidity driving STI towards June peak, but forecasts turning cautious

A SEA of liquidity will likely keep local blue chips buoyant for the rest of the year. But few pundits expect the benchmark Straits Times Index (STI) to push past the peak of its short-lived rally in June, a mid-year tally by The Business Times has shown.

Accordia Golf Trust's sponsor offers to buy golf courses for S$804.1m

THE sponsor of Accordia Golf Trust (AGT) has proposed to acquire the trust's 88 golf courses in Japan for 61.8 billion Japanese yen (S$804.1 million), or an implied purchase consideration of S$0.732 per unit, AGT said on Monday.

Accordia Golf Trust offered S$804.1m by sponsor to divest all its Japan golf courses

THE sponsor of Accordia Golf Trust (AGT) has proposed to acquire the trust’s 88 golf courses in Japan for 61.8 billion Japanese yen (S$804.1 million), or an implied purchase consideration of S$0.732 per unit, it said on Monday.

Hin Leong's O K Lim 'not given chance' to respond: family

THE boss of stricken oil trading firm Hin Leong Trading was not given a "reasonable opportunity" to respond to fraud allegations laid out in a recent report by PricewaterhouseCoopers (PwC) Advisory Services, his family said in a press statement on Thursday night.

No need for deputy chairman to recuse himself on Indon project: Darco

THE board of Darco Water Technologies is of the view that there is no reason to consider deputy chairman Robert Wang Zhi as having a potential conflict of interest in a controversial Indonesia waste management project that he has been pushing for the water treatment firm to invest in.

No need for deputy chairman to recuse himself, Darco board argues

THE board of Darco Water Technologies is of the view that there is no reason to consider deputy chairman Robert Wang Zhi as having a potential conflict of interest in a controversial Indonesia waste management project that he has been pushing for the water treatment firm to invest in.

Hin Leong responds to PwC's report, says Mr Lim was unwell

THE boss of stricken oil trading firm Hin Leong Trading was not given a "reasonable opportunity" to respond to fraud allegations laid out in a recent report by PricewaterhouseCoopers (PwC) Advisory Services, his family said in a press statement on Thursday night.

Hin Leong unlikely to be rehabilitated on its own: PwC

INSOLVENT oil trader Hin Leong Trading has "no reasonable prospect" of being rehabilitated as a standalone company, though it may have a shot at survival if its owners support the process by committing their other family assets to the restructuring.

Hin Leong forged documents to mislead banks, has 'no reasonable prospect of being restructured on its own': PwC

INSOLVENT oil trader Hin Leong Trading has "no reasonable prospect" of being rehabilitated as a standalone company, though it may have a shot at survival if its owners support the process by committing their other family assets to the restructuring.

Darco minority shareholders raise disclosure, conflict of interest issues

MINORITY shareholders who own a combined 15 per cent stake in Darco Water Technologies are pressing for a special audit of internal controls and a review of potential conflicts of interests at the board level, amid concerns that the company has lost its direction following a surprise change in...

TOPLINE

UMS rides semiconductor upswing

IT IS common for smaller contractors down the semiconductor supply chain to get squeezed by the big boys, but Singapore-listed UMS has consistently operated more profitably than most, posting an enviable net margin of 30.7 per cent in the March quarter.

STOCKS

STI finishes the week down 1.86%

THE Straits Times Index (STI) fell 49.8 points or 1.86 per cent over the week to finish at 2,634.83 on Friday as ample liquidity continued to lift valuations out of March's peak pessimism, though traders remained wary of a pullback should any negative news emerge.

STI finishes the week down 1.86%; iFAST rallies on digibank hopes

THE Straits Times Index (STI) fell 49.8 points or 1.86 per cent over the week to finish at 2,634.83 on Friday, as ample liquidity continued to lift valuations out of the depths of March's pessimism, though traders remained wary of a pullback in the event of any negative news....

STOCKS

STI falls 0.15%, regional markets go into profit-taking mode

LOCAL shares remained range-bound on Thursday as traders digested the implications of resurgent Covid-19 cases in the United States and Beijing, and decided that they were not entirely convinced that all the bad news has been priced in.

STI falls 0.15% on Thursday; regional markets in profit-taking mode

LOCAL shares remained range-bound on Thursday as traders mulled the implications of resurgent Covid-19 cases in the US and Beijing, and decided that they were not entirely convinced that all the bad news has been priced in.

STOCKS

Singapore shares claw back early losses to end marginally higher

LOCAL shares clawed back early losses on Wednesday to close slightly higher, as traders welcomed Tuesday's findings that a cheap generic steroid dramatically reduces Covid-19 death rates, while reading the better-than-expected US retail sales print with a pinch of salt.

STI closes 0.1% higher on Wednesday on mixed signals

LOCAL shares clawed back early losses on Wednesday to close slightly higher as traders welcomed Tuesday's findings that a cheap generic steroid dramatically reduces Covid-19 death rates, even as they took the better-than-expected US retail sales print with a pinch of salt.

STOCKS

STI snaps three-day losing streak to close 2.03% higher

THE Straits Times Index (STI) rose 52.97 points or 2.03 per cent to 2,666.85 on Tuesday, snapping a three-day losing streak after the US Federal Reserve said on Monday that it will begin buying the debt of individual US companies.

STI snaps three-day losing streak to close 2.03% higher on Tuesday

THE Straits Times Index (STI) rose 52.97 points or 2.03 per cent to 2,666.85 on Tuesday, snapping a three-day losing streak after the US Federal Reserve said Monday that it will begin buying the debt of individual US companies.

STOCKS

STI drops 70.75 points to 2,613 as lockdown fears resurface

THE Straits Times Index (STI) fell 70.75 points or 2.64 per cent to 2,613.88 on Monday in a third straight day of losses after a rise in new coronavirus infections in the US and China stoked fears that lockdowns might be reimposed.

Boutique fund seeks answers from Accordia Golf Trust over move to retain profits

THE decision by Accordia Golf Trust (AGT) to set aside 1.56 billion yen (S$20 million) as reserves in the March quarter has reduced AGT's latest semi-annual payout by almost half, and warrants a more detailed explanation, the largest minority unit-holder of Accordia Golf Trust (AGT) has argued...

STI closes 2.64% lower at 2,613.88 on Monday

THE Straits Times Index (STI) fell 70.75 points or 2.64 per cent to 2,613.88 on Monday in a third straight day of losses after a rise in new coronavirus infections globally stoked fears that lockdowns might be re-imposed.

Hyflux lenders seeking judicial management; Utico extends offer

A GROUP of bank lenders is seeking to put Hyflux under judicial management (JM), after two years of a court-sanctioned restructuring process that has continued to leave creditors empty-handed.

Hyflux lenders to restart process to put firm under judicial management

A GROUP of bank lenders is seeking to put Hyflux under judicial management (JM), after two years of a court-sanctioned restructuring process that has continued to leave creditors empty-handed.