by Ernie B. Calucag Certificates of entitlement (COE) premiums for vehicles closed mostly higher on Wednesday, led by premiums for big cars (cars above 1,600 cc) which rose for the fifth consecutive month to S$92,050. This is 1.2 per cent higher from the S$91,000 in April’s second bidding. Premiums for commercial vehicles and motorcycles also...

by Ernie B. Calucag United Overseas Bank (UOB) posted a 12.1-per cent jump in first-quarter net profit on Wednesday, on the back of higher loans and fee income. UOB, the smallest of Singapore’s three banking groups, earned S$688.0 million in the three months ending March, up from S$612.0 million a year earlier. The results were...

by Ernie B. Calucag Singapore Airlines (SIA), the world’s second largest carrier by market value, posted an unexpected loss for its fiscal fourth quarter, hurt by weak travel demand and high jet fuel prices. The national carrier reported a fourth quarter loss of S$38.2 million compared to a net profit of S$171.0 million in the...

by Ernie B. Calucag The Monetary Authority of Singapore (MAS) on Wednesday announced that it will reduce the number of investment products subject to its new investor protection rules, following consultation with the local financial industry. Under the new rules that took effect January 1 this year, investors must possess certain educational qualifications related to...

by Jared Heng OpenNet, the consortium responsible for building Singapore’s high-speed all-optical fibre network is close to completing its initial rollout. With its aggressive rollout schedule, OpenNet has already achieved 90-per cent coverage, it said on Tuesday. OpenNet added that it was scheduled to complete its obligations to roll out fibre to 95 per cent...

Groundbreaking ceremony at CGNPC’s biomass solar power generation plant in Singapore – From left to right: Lee Thaim Seng, Chairman & CEO of ecoWise Holdings Ltd; Han Qing Hao, Chairman & General Manager, CGN Solar Energy Development Company; Zheng Chao, Minister Counsellor of the China Embassy; Tan Choon Shian, Acting Managing Director of Economic Development...

by Jared Heng Singapore companies can now achieve greater cost savings through a new American Express Corporate Membership Rewards programme. In a statement on Tuesday, American Express said it has chosen Singapore as its first market in Asia to launch the programme, which allows businesses to consolidate reward points earned through multiple cards issued to...

by Ernie B. Calucag NASDAQ-listed NXP Semiconductors said it plans to invest over S$20.0 million in a new research and development facility in Singapore as the company is committed to expand footprint in Asia. “As Singapore is an important regional hub, and the headquarters for our APAC operations, it was a strategic decision for us...

by Ernie B. Calucag Singapore debuted in the top 10 of the BlackRock Sovereign Risk Index (BSRI) due to the country’s sterling debt profile, BlackRock announced on Monday. The BSRI, which provides investors with a framework for tracking sovereign credit risk, ranked newcomers Singapore and Taiwan among the top 10 in the latest edition of...

by Ernie B. Calucag Singapore-based Nuvest Capital will launch a global multi-asset fund with an emphasis on emerging markets by July on a seed money from Government of Singapore Investment Corp (GIC), Reuters said in a report Monday. Nuvest founder and GIC veteran Aje Saigal told Reuters that Nuvest aims to raise US$1.0 billion by...

by Jared Heng International Enterprise Singapore and the National Business Association of Colombia Monday signed a Memorandum of Understanding (MOU) to promote closer collaboration between Singaporean and Colombian companies. The MOU calls for regular information-sharing on growth opportunities of common interests for Colombia and Singapore. It also seeks to encourage greater participation in trade events...

by Ernie B. Calucag   Singapore’s central bank is committed to price stability in the medium term amid the country’s rising inflation. Monetary Authority of Singapore (MAS) deputy managing director Ong Chong Tee on Monday said the monetary policy should temper but not totally offset cost pressures from the supply side. Ong said MAS has been...