Get an insight into the companies and events that shape and move the markets in Singapore.
|1||31/05/13|| Toll Group|
Global logistics company, Toll Group says Singapore is the second largest market for the company in Asia in terms of revenue. It recently opened a $300 million supply base in Loyang to service marine, offshore and oil and gas companies in the region. But the company is also looking to off-load unprofitable parts of its business. To find out more, 938LIVE's Travis Teo spoke to Toll's chief executive and managing director Brian Kruger.
|2||30/05/13|| Money laundering|
The prosecution of the US$6 billion money-laundering hub Liberty Reserve is the largest in history. On Wednesday, the US Department of Justice said the online service was shut down amid allegations of helping criminals conduct illegal transactions and launder the proceeds of their crimes. 938LIVE's Travis Teo spoke to James Breiding about the issue. He's the author of "Swiss Made: The Untold Story Behind Switzerland's Success" and the founder of Zurich investment firm, Naissance Capital.
SingTel has earmarked $2 billion for spending on digital initiatives over the next three years. This after Southeast Asia's largest telco recently booked a 33 percent plunge in quarterly profit. To find out more, Yvonne Chan sat down with Singtel group chief executive Chua Sock Koong. She started off by asking if SingTel plans to retreat from some of its unprofitable markets such as South Africa.
|4||28/05/13|| Economy Assessment|
Manufacturing may account for around 20 percent of Singapore's economy, but some domestically-oriented sectors such as financials are emerging as key drivers. In the first quarter, growth in the financials and insurance sector surged 51 percent on-quarter, pushing total GDP to a revised growth of 1.8 percent on-quarter. But more interestingly, Francis Tan, Economist at UOB Bank says it was the first time the financial sector contributed more than $10 billion on a quarterly basis. To understand the drivers behind Singapore's GDP, 938LIVE's Travis Teo spoke to Mr Tan and started by asking him what's his full year forecast.
The Singapore government has released final first quarter GDP and trade data this morning. 938LIVE's Andre Ahchak spoke with Vishnu Varathan, Senior Economist at Mizuho Corporate Bank to get his analysis on what the figures mean. He started by asking Vishnu his outlook for the local economy after a surprise expansion of 1.8 percent in the first quarter, from the previous quarter.
|6||22/05/13|| Indonesia lets DBS buy 40% stake in Bank Danamon|
Indonesia has given the green light for DBS Group to buy up to a 40 percent stake in Bank Danamon. Last year, DBS launched a US$7.2 billion takeover bid for all of Danamon. Indonesia's central bank said if DBS wants to buy more of Danamon, then Singapore should further open up its banking sector to Indonesian banks. The man chosen to lead Indonesia's finance ministry said the central bank should stick to its demand for reciprocity. Chatib Basri was named as Indonesian finance minister this week. The day before his final confirmation, Dr Chatib gave an exclusive interview to Devianti Faridz. She started by asking him should Indonesia be more open to foreign investment especially in the financial sector.
Changi Airport's up-coming fifth terminal will be its biggest and present opportunities for supporting industries in the airline business. Singapore-listed in-flight caterer SATS expects Changi to be the main driver for its growth. It recently reported an 8 per cent increase in full year revenue to $1.8 billion. But will the rise of no-frills budget carriers take a bite out of the in-flight catering business? 938LIVE's Travis Teo spoke to Tan Chuan Lye, president and chief executive of SATS.
IE Singapore says April non oil domestic exports, or NODX data fell by 1 percent from a year ago. 938LIVE's Baharti Jagdish spoke to Daniel Martin, Asia Economist at Capital Economics for his analysis of the figures. She started by asking him whether the downtrend will continue after NODX registered a fall for the third consecutive month.
|9||16/05/13|| Ascott Residence Trust|
Singapore-listed Ascott Residence Trust may possibly raise its total asset size to between $4 billion and $5 billion within 2 years. That's according to its Chief Executive Officer Ronald Tay. Recently, the REIT said its asset size will grow by 11 per cent to over $3 billion after buying three prime serviced residences in China and a portfolio of 11 rental housing properties in Japan. 938LIVE's Travis Teo spoke to Mr Tay on his plans for Ascott REIT.
|10||15/05/13|| China Economy|
Recent economic data from China came in below expectations, but economists believe the world's second largest economy is still on a growth trajectory. The Chinese government has a growth target of 7.5 per cent for the full year. Suan Teck Kin, senior economist at UOB expects higher growth, at around 8 per cent. He explains to 938LIVE's Travis Teo why he thinks so.
|11||14/05/13|| Eastman Chemical|
New York-listed Eastman Chemical has re-opened its new Asia Pacific Technical Centre in Alexandra Technopark. Dominique Loh caught up with its chief technology officer Greg Nelson. He started by asking what are Eastman's plans to grow the business in Asia.
|12||10/05/13|| Capitol Development|
The 750-million-dollar mixed-use Capitol Development as signed an agreement with Patina Hotels & Resorts to operate its flagship hotel. The six-star hotel will open in the fourth quarter of 2014, against a backdrop of slower tourist arrivals. According to the Ministry of Trade and Industry, visitor arrivals is expected to grow between 3 and 4 per cent a year over the next 10 years. That's significantly lower than the growth rate of 9.5 per cent achieved last year. Director and shareholder of Capitol Investment Holdings, Pua Seck Guan, tells 938LIVE's Travis Teo why integrated developments like Capitol will be attractive.
|13||09/05/13|| SGX Fees|
Singapore Exchange plans to double its minimum listing fee for its mainboard to $100,000 from next year. Even with the revised fees, listing in Singapore will remain cheaper than in Tokyo. But it will be more expensive than in Hong Kong and Kuala Lumpur. For Wayne Lee, head of corporate finance at Tata Capital Singapore, it's about the niche areas the exchanges provide that attract companies to list rather than the cost of listing. 938LIVE's Travis Teo spoke with Mr Lee on the issue. He started by asking if Singapore will continue to remain competitive against the regional markets after the fee hike.
Local brokerage firm DMG & Partners Securities has found a new parent in Malaysia's RHB Banking Group. This, after RHB officially merged with securities firm OSKDMG earlier this month. RHB and OSK have jointly completed over $8 billion worth of transactions so far in the region. The deal marks RHB's entrance into Indonesia, Hong Kong and Cambodia and strengthens R-H-B's position here. To find out what the merger means for Singapore, Toni Waterman sat down with RHB Group's Managing Director Kellee Kam.
|15||07/05/13|| Malaysia Markets|
The Malaysian stock market climbed 3 percent to close at a historical high yesterday, while the ringgit hit a 2-year high against the US dollar.This after Malaysia's ruling coalition Barisan Nasional or B-N returned to power with a victory at the polls over the weekend. Is the increase sustainable or is it just a knee-jerk reaction? And what headwinds will the market face? For more on this, 938LIVE's Travis Teo spoke to Song Seng Wun, Regional Economist at CIMB Research.
A million people in Singapore are now on the professional social networking site LinkedIn. This is more than double the number just two years ago. While it's not the main intent of the site, employers use it for "passive candidate recruitment." 938LIVE's Travis Teo spoke to Hari Krishnan, Managing Director for Linked-In Asia Pacific.
|17||30/04/13|| Emerging markets|
With Singapore's economy growing at a slower pace, growth in corporate earnings and company dividends are expected to follow suit. This may push investors to look further away, at emerging markets here in Asia. But where are the growth sectors? And which countries should investors focus on? For more on this, 938LIVE's Travis Teo spoke to Dennis Lim, senior managing director of Franklin Templeton Singapore.
|18||26/04/13|| Retirement savings|
Saving enough for retirement is a key concern for Singaporeans. A recent survey by financial solution provider Friends Provident International said 41 per cent of affluent Singaporeans believed that having between 800,000 and $1.6 million is sufficient for their retirement. Its definition of affluent Singaporeans are those with net investable assets of $80,000 to $1 million. But where are these people investing their money to grow their nest egg? To find out more, 938LIVE's Travis Teo spoke to Friends Provident's principal officer Chris Gill.
SingTel's consumers can expected faster mobile data speeds in the future. The telco is progressively boosting the speed of its 4G network to 150 mega bytes per second or MBPS. That's double the current speed of 75 MBPS. But what's driving mobile data growth? 938LIVE's Travis Teo spoke to Yuen Kuan Moon, SingTel's chief executive of consumer business in Singapore.
Mainboard-listed SingPost has the highest next-day delivery rate in the world at 99 per cent. But it is not resting on its laurels. The postal service provider recently launched an automated delivery locker system that allows customers to pick-up their parcels at their convenience. This free POPStation system will notify customers when there's a parcel ready for collection. For more on what plans SingPost has, 938LIVE's Travis Teo spoke to its group chief executive Dr Wolfgang Baier, and first asked him whether digital communication has taken a huge bite out of the postal services pie.