Finance

The Monetary Authority of Singapore (MAS) has rejected the United States’ Treasury’s conclusion on Singapore as a currency manipulator in the latter’s newest report on macroeconomic and foreign exchange policies of the US’ major trading partners. Responding to media queries in a press release on Wed (29 May), the same day the report was released, MAS stressed that the Republic’s …

Singapore has been added to the United States’ Treasury’s currency manipulation watchlist alongside Malaysia and Vietnam due to the Republic’s “large current account surplus and net foreign currency purchases of at least US$17 billion [approximately S$23.5bil]” last year. Bloomberg reported on Wed (29 May) that according to the Treasury’s Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the …

Emirati utilities group Utico’s “part cash redemption” offer to beleaguered water treatment firm and genco Hyflux’s retail perpetual and preference shareholders (PNP) is merely “exploratory in nature”, said the homegrown company in a meeting on Tue (28 May). The Business Times reported that the offer, according to Hyflux, is still “currently being contemplated” by the utilities group. Noting that it …

Singapore Airlines (SIA) has reported a 47.5% decline in profit for the financial year of 2018/19 despite also recording its highest annual revenue to date (S$683 million). In a report on the Group financial performance released on 16 May, SIA named ‘transformation initiatives’ as contributing to the company’s record revenue performance, however an increase in fuel prices significantly affected the …

Singapore’s national water agency Public Utilities Board (PUB) has rejected Emirati utilities group Utico’s request to delay the statutory body’s takeover of beleaguered water treatment firm Hyflux’s Tuaspring desalination plant due tomorrow (18 May). PUB told The Straits Times that it will stand by “all the announcements that have already been made about PUB taking over the Tuaspring Desalination Plant”. …

Singapore-based maritime containerline Pacific International Lines (PIL) received “previously unreported loans” from the Republic’s sovereign wealth fund Temasek Holdings in the form of hedge funds last year. Citing world maritime news platform Alphaliner‘s latest weekly report, international maritime and shipping news platform Splash 24/7 added that in return, PIL, the 10th largest ocean carrier globally, had pledged its shares to …

Debt-laden water treatment firm and genco Hyflux has received yet another non-binding letter of intent from its third potential white knight investor, which has yet to be named. The company revealed the development in a Singapore Exchange announcement yesterday afternoon (15 May), during which it indicated that the potential new investor is the one of the top 10 largest desalination …

In today’s rapidly growing e-commerce world, mobile applications play an important role. Based on a report by Google and Temasek, there are more than 350 million internet users in Southeast Asian countries like Singapore, Malaysia, Indonesian, Thailand and Vietnam. More importantly, more than 90% of Southeast Asians connect to the internet mainly through their mobile devices, and this figure is …

We present the case of John and his parents. John is an undergraduate student who has taken finance and investment classes that cover a range of asset-types, including real estate. During a family dinner, when discussing a module that John was taking in the university, Real Estate Investments and Finance, his parents divulged that they have made a real estate …

Debt-ridden water treatment firm Hyflux will no longer be in charge of its Tuaspring power plant starting this week as Maybank, the company’s largest secured creditor, has appointed receivers and managers from insolvency firm Ferrier Hodgson to seize control of the plant. The Straits Times also reported that the Public Utilities Board, Singapore’s national water agency, will takeover the Tuaspring …