ListCos
Olam to Raise S$275 million in Perpetual Capital Securities Issue Agriculture and food group Olam International Limited has launched and priced Thursday its issue of perpetual capital securities to raise S$275.0 million. The capital securities, which have no maturity date, will constitute direct, unconditional, unsecured and subordinated obligations of Olam. The securities were priced at...
Europe’s Economy to Contract as Italy, Spain Tumble: EU
Source: Bloomberg Europe’s economy will shrink in 2012, with Italy and Spain facing sudden crunches as they battle to escape the debt crisis, the European Commission said. The 17-nation euro economy will contract 0.3 per cent, the commission said, abandoning a November forecast of 0.5-per cent growth. The downgrade was mainly due to projected contractions...
China to Boost Use of Rare Earths in Manufacturing
Source: AFP China has called for greater use of rare earths for its own domestic manufacturing, as Beijing seeks to limit exports of the sought-after resources vital for everything from iPods to missiles. China is the world’s largest producer of rare earths ‒ 17 elements critical to manufacturing a range of high-tech products ‒...
China Risks Economic Crisis if No Reforms: Report
Source: AFP China could face an economic crisis if it does not implement major reforms in the next 20 years, the Wall Street Journal said Thursday, citing a report by the World Bank and Chinese government researchers. The “China 2030” report ‒ to be released Monday ‒ warns economic growth is at risk of a...
Singapore to Introduce Tighter Tobacco Control Measures
by Jared Heng With effect from 1 March 2013, Singapore’s Health Promotion Board (HPB), in partnership with the Health Sciences Authority, will introduce tighter tobacco control measures, under amendments to the Tobacco (Control of Advertisements and Sale) Act. One of the new measures is the banning of misleading descriptors on tobacco packaging, HPB said. This...
Baidu, A*STAR Research Institute Set Up Joint Laboratory in Singapore
by Jared Heng The Institute for Infocomm Research (I²R), a research institute of Singapore’s Agency for Science and Technology Research (A*STAR), has signed an agreement to establish a joint laboratory with Baidu, Inc, the leading Chinese language internet search provider. I²R and Baidu signed the agreement in Beijing on Thursday. The joint laboratory, to be...
Petronas to Build New LNG Train in Malaysia
Source: AFP Malaysia’s state energy firm Petronas said on Thursday a new liquefied natural gas train with a capacity of 3.6 million tonnes a year will be built at its LNG complex on the island of Borneo. Petronas in a statement said it would help boost total capacity at its LNG plant in Bintulu in...
Obama Signs Payroll Tax Cut Extension into Law
Source: AFP US President Barack Obama signed into law Wednesday a compromise bill extending a payroll tax cut and jobless benefits through 2012, after a bitter partisan fight over how to pay for it. Congress approved the bill on Friday with broad bipartisan support, ending the contentious battle over a measure aimed at boosting the...
Japan Plans to Give IMF Up to US$50 billion
Source: AFP Japan said Thursday it may provide up to US$50 billion to the International Monetary Fund to help fight Europe’s debt crisis, but the exact figure is yet to be decided. “Japan is studying the specific figure it will provide to the IMF but it won’t be possible for us to reach agreement by...
Singapore’s January Inflation Eases, but Prices Forecast to Stay Elevated
by Jared Heng Singapore’s CPI-All Items inflation eased to 4.8 per cent year-on-year in January, according to a joint statement by the nation’s central bank and the Ministry of Trade and Industry on Thursday. This compared with 5.5 per cent in December last year. The statement said the moderation in CPI-All Items inflation last month...
Stock Picks
ABR Holdings (BUY; Target Price: S$0.94) On 10th February 2012, ABR Holdings, a local F&B operator known for its Swensen’s ice cream restaurants, announced that it has entered into a conditional sale and purchase agreement to sell its 51 per cent stake in Focus Network Agencies (FNA) to its 49 per cent-minority partner Kingdom Investment...
Dining: Variety of Delights, Bright Ambience at Tung Lok Seafood Restaurant
Looking for a seafood restaurant in the heart of Singapore’s Orchard Road? The place to go to is Tung Lok Seafood at Orchard Central. We were there one Sunday afternoon for lunch and the restaurant was packed. To avoid a long wait, we decided to order the set menu. There were three set menus starting...
