SQ321 Final Report: Radar Issue May Have Left SIA Pilots Blind to Severe Turbulence
Singapore Airlines Flight SQ321 crashed into severe turbulence in May 2024 after the Boeing 777’s weather radar likely failed to display a rapidly forming cumulonimbus cloud. The Transport Safety Investigation Bureau cannot rule out an intermittent radar fault, noting prior blank‑screen incidents on 0.36% of SIA’s 777 flights. Four nearby aircraft with different radars avoided the storm, highlighting a systemic vulnerability. SIA has overhauled pilot radar training while regulators consider mandatory directives for manufacturers.
Indonesia’s Financial Regulator Says Stock Index Reflects Fundamentals After Fall
Indonesia’s stock market index fell more than 3% on Tuesday, extending a 7% decline after MSCI removed over a dozen local companies from its benchmarks. OJK head Friderica Widyasari Dewi said the drop reflects recent market reforms and better price...
European Shares Rise on Trump’s Iran Comments
European equities edged higher on Tuesday as the Stoxx 600 rose 0.2% to 611.22 points following President Donald Trump’s comment that a "very good chance" exists for a deal to limit Iran’s nuclear programme. Oil prices slipped about 2% but remained...
UOBKH Downgrades ComfortDelGro to ‘Hold’ as Q1 Earnings Disappoint
UOB Kay Hian downgraded Singapore‑based ComfortDelGro (CDG) to “hold” and trimmed its target price 15% to S$1.54 (≈US$1.14). The move follows a first‑quarter net profit of S$40.5 million (≈US$30 million), down 16.1%, and core operating profit falling 18% to S$66.2 million (≈US$49 million). Earnings...
Keppel to Let M1-Simba Deal Lapse; M1 to Be Restructured with Focus on ‘Rightsizing’
Keppel announced it will let the M1‑Simba sale‑and‑purchase agreement expire on May 21, after Singapore’s regulator halted its consolidation review. The group immediately activated a “Plan B” to retain majority control of M1 and launch a 90‑day rightsizing program aimed at cutting...
Indonesia Rupiah Hits New Record Low; President Downplays Day-to-Day Impact of Currency Weakness
Indonesia's rupiah fell to a new record low of 17,668 per dollar, slipping more than 1% as global oil prices rose and the Jakarta stock index dropped over 4%. President Prabowo Subianto downplayed the impact, saying villagers do not use...
Tata Electronics and ASML Partner on India’s First Semiconductor Fab
Tata Electronics and Dutch equipment maker ASML signed an agreement to build India’s first front‑end semiconductor fab in Gujarat. The $11 billion project will feature a 300‑millimetre wafer line and target chips for automotive, mobile and AI applications. The signing ceremony...
US Debt Load Could Undercut Warsh‘s Plan to Shrink Fed Balance Sheet
Incoming Fed chair Kevin Warsh wants to shrink the central bank’s balance sheet, but soaring U.S. debt and a jump in long‑term Treasury yields could blunt his agenda. The 2‑year rate has risen above 4% and the 30‑year topped 5.1%,...
Wall St Down at Open as Yields Jump on Inflation Worries
U.S. equity markets opened lower on Friday as Treasury yields spiked amid heightened inflation worries tied to the Middle East conflict. The S&P 500 slipped 56.1 points (‑0.75%) to 7,445.11, while the Nasdaq fell 346.3 points (‑1.30%) to 26,288.9. The Dow...
SingLand Buys Out UOB’s Stake in Novena Square JVs for S$299 Million
Singapore Land Group (SingLand) paid S$299 million (≈$221 million USD) to buy UOB’s 20% stakes in the Novena Square Development and Novena Square Investments joint ventures. The acquisition gives SingLand full control of the mixed‑use asset, which includes two office towers and...
Japan’s Biggest Banks Expect Another Year of Record Profit
Japan’s two largest lenders, MUFG and Mizuho, are forecasting record earnings for the fiscal year ending March 2027 as higher interest rates lift loan profitability. MUFG projects an 11% net‑income rise to ¥2.7 trillion (about $17.4 billion), while Mizuho expects a 4% gain...
S&P 500 Opens Muted as Hot Inflation Data Signals Rates to Stay on Hold
Hot producer‑price data released on May 13 showed a 0.6% month‑over‑month increase, outpacing expectations and reinforcing market bets that the Federal Reserve will keep its policy stance restrictive for the remainder of the year. The S&P 500 opened modestly higher, gaining 0.11%...
Oil Little Changed as Trump Visits China
Oil prices held steady on Wednesday, with Brent at $107.47 a barrel and WTI at $102.04, as traders watched a fragile cease‑fire in the Middle East and President Donald Trump’s summit with Xi Jinping in Beijing. The International Energy Agency...
Asia’s Wealthy Families Shed Taboo on Succession Planning as US$83 Trillion Changes Hands: UBS
UBS’s Global Next Generation Report, based on over 170 respondents, reveals that nearly two‑thirds of Asian wealthy families now involve the inheriting generation in wealth management early on. The study highlights that 78% of next‑generation clients prioritize networking opportunities when...
Gold Steady as Traders Track Strait of Hormuz Stalemate, Inflation Risks
Gold held near US$4,740 an ounce on Tuesday as traders weighed the escalating deadlock in the Strait of Hormuz, which has lifted oil prices and revived inflation worries. President Donald Trump dismissed Iran’s reaction to a U.S. peace proposal as...
Stocks to Watch: OCBC, OUE, SIA Engineering Company, OUE Reit
Singapore’s OCBC Bank priced a €500 million ($545 million) covered bond issue, part of its $10 billion global programme, and saw its shares climb 2.7%. OUE’s treasury subsidiary announced a S$150 million ($111 million) 3.25% green note issuance, while OUE REIT reported the discontinuation of...
OUE Unit Issuing S$150 Million 3.25% Green Notes Due in 2033
OUE Treasury, a wholly‑owned subsidiary of OUE, announced a S$150 million (≈US$111 million) issuance of 3.25% green notes due in 2033. The notes are part of a S$3 billion multicurrency debt programme launched in 2016 and will be unconditionally guaranteed by OUE. OCBC...
Grab Seeks AI Edge in Product Development Using Agentic Engineering, Vibe Coding
Grab is integrating AI into its product development pipeline through vibe coding and agentic engineering, allowing rapid prototyping and higher productivity. The Virtual Store Manager, created by a non‑engineer using AI‑generated code, exemplifies how vibe coding turns ideas into functional...
OCBC Consumer Banking Chief Sunny Quek Aims to Double Wealth Business by 2029
OCBC’s consumer banking chief Sunny Quek announced a plan to double the bank’s wealth management business by 2029, accelerating a target originally set for 2030. The drive is anchored by a new wealth‑management committee that brings together the consumer bank,...
Wall Street Inches to Higher Close, AI Fervour Edges Out Iran Impasse
U.S. equities closed modestly higher on May 11, with the S&P 500 and Nasdaq each extending a streak of record closes. AI‑related stocks led the rally, as the PHLX Semiconductor index jumped 2.6% while energy stocks posted the largest sector gains amid...
Saudi Aramco’s Q1 Profit up 26% After Iran War-Driven Oil Price Rise
Saudi Aramco posted a first‑quarter adjusted net income of 126 billion riyals (about $33.6 billion), a 26% jump from the same period a year earlier, driven by a war‑induced surge in oil prices. Brent crude climbed over 43% in March, pushing spot...
AI Drives Markets as Valuations Race Ahead of Earnings
Global equity markets surged to record highs in April as investors poured into a handful of AI and semiconductor mega‑caps, chiefly the Magnificent Seven, which supplied roughly 80% of the S&P 500’s Q1 earnings growth. The rally is narrowly focused, masking...
Buybacks, Director Transactions and Stake Realignments
During the week ending May 7, Singapore’s primary‑listed market saw 16 companies repurchase shares worth S$16.1 million (≈US$12 million) and more than 90 director‑level interest filings across 40 stocks. Notable transactions included Avi‑Tech’s 29.9% stake sale to Global Wave Venture for S$17 million (≈US$12.6 million)...
S-Reit Acquisitions Pick up with Improved Financing
Acquisition activity among Singapore REITs surged in 2026, with 11 deals worth S$6.3 bn (≈$4.7 bn) announced in the first four months—over 70% of last year's total value. The pace outstrips 2025, when 21 transactions totaled S$8.8 bn (≈$6.5 bn). Major players CICT and...
Love Bonito Eyes Middle East’s Long-Term Prospects as Losses Trim
Love Bonito, a Singapore‑based womenswear retailer, trimmed losses in 2024 by streamlining operations and focusing on regional growth, achieving EBITDA break‑even and a 34.7% drop in pre‑tax loss to US$8.7 million. Revenue rose to US$72.2 million, driven by strong performance in Hong Kong,...
Oil Ticks Higher as Gulf Clashes Threaten to Derail Ceasefire
Oil prices edged higher on May 9 as Brent crude rose 1.2% to about $101 a barrel, even though the benchmark posted a 6% weekly decline. The move reflects trader anxiety that fresh clashes between the United States and Iran...
Jardine C&C Said to Explore Sale of Car Dealership in Malaysia and Singapore
Singapore‑listed Jardine Cycle & Carriage, a Jardine Matheson subsidiary, is exploring a sale of its car dealership operations in Malaysia and Singapore. The potential transaction could value the business between $250 million and $350 million. Jardine Matheson holds roughly 85% of C&C,...
Wealth Ambitions, AI Threats and War Risks: 4 Takeaways From Singapore Banks’ Q1 Results
Singapore’s three major banks – DBS, UOB and OCBC – all posted first‑quarter earnings that beat expectations despite a low‑interest‑rate environment. Wealth‑management fees surged, with DBS reporting a record $671 million and OCBC up 34% to $312 million, offsetting declines in net...
Dasmond Koh’s NoonTalk Media Narrows Q3 Loss by 41.9% to S$0.4 Million
Dasmond Koh’s NoonTalk Media reported a Q3 loss of S$437,615 (≈ $324,000), a 41.9% improvement from the same quarter a year earlier. Revenue slipped 3.3% year‑on‑year to S$683,895 (≈ $506,000), driven by a 52.4% decline in the management and events segment and a...
US Stocks: S&P 500, Nasdaq Hit Fresh Peaks as Tech Stocks, Jobs Data Lift Sentiment
U.S. equities surged on Friday as the S&P 500 and Nasdaq both posted fresh all‑time highs, propelled by double‑digit gains in Nvidia and Apple. A stronger‑than‑expected April jobs report showed unemployment steady at 4.3%, reinforcing expectations that the Federal Reserve will...
Board Diversity Is Good, but Inclusion Is Important Too: Study of SGX Listcos
A joint Council for Board Diversity‑Egon Zehnder study of 170 SGX‑listed directors finds that 73% believe board diversity can improve performance, trailing the 85% global consensus. Only 40% strongly agree that diversity leads to richer discussions, compared with 67% worldwide,...
European Shares Slide as Middle East Tensions Flare
European equities slipped on Friday as the US‑Iran clash pushed oil higher and dampened hopes for a diplomatic breakthrough. The pan‑European Stoxx 600 dropped 0.9% to 610.96, while Germany’s DAX and Britain’s FTSE 100 fell around 1%. Energy‑intensive sectors led the declines,...
Zara Denies Infringing Jo Malone Trademark in Estee Lauder Case
Zara’s UK arm, ITX, has denied Estée Lauder’s claim that it infringed the Jo Malone trademark in a perfume line co‑created with the perfumer. The defense cites 2020 guidance from Estée Lauder that permits Zara to use titles such as “Ms Jo Malone CBE” in product...
TSMC’s Sales Grow Slowest in Months Even as AI Buildout Persists
Taiwan Semiconductor Manufacturing Co. (TSMC) reported April sales up 17.5% to NT$410.7 billion (about $13.1 billion), the slowest monthly growth since October. The modest rise reflects a plateau in smartphone and consumer‑electronics demand, even as AI‑driven chip orders stay robust. Analysts expect...
Iran Uncertainty, Credit Costs in Focus for UOB as Analysts Stay Cautious with ‘Hold’ Ratings
UOB posted Q1 net profit of S$1.44 billion (≈US$1.07 billion), beating consensus by about 3% while revenue fell 3% short of expectations. The bank’s net interest margin slipped to 1.82% from 2% a year earlier and credit costs edged up to 26 bps,...
Food Prices Rise to Highest in Three Years on Iran War Costs
Global food‑commodity prices hit their highest level in over three years, with the UN food index rising 1.6% in April. The surge is driven by the Iran‑Israel conflict that has closed the Strait of Hormuz, choking diesel and fertilizer supplies....
Baidu’s AI Chip Unit Plans Dual IPO in Shanghai and Hong Kong
Baidu’s AI‑chip subsidiary Kunlunxin is preparing a dual IPO, targeting Shanghai’s STAR Board and a later Hong Kong listing. Baidu retains a 58 percent stake, valuing the unit at roughly $3 billion. The move follows a surge in Chinese semiconductor listings spurred by...
No AI, Poor Returns Drive Indian Investors to Foreign Markets
Indian investors are increasingly allocating capital abroad, with overseas equity and debt purchases climbing 60% year‑over‑year to $2.2 billion in the 11 months to February. Domestic underperformance— the MSCI India Index lagged its emerging‑markets peer by roughly 50%— and a weakening...
Japan’s Nikkei Roars Past 62,000 on Earnings, Middle East Optimism; JGBs Rally
Japan’s Nikkei 225 leapt 4.19% to 62,010 on Thursday, breaking the 62,000 threshold for the first time. The rally was powered by strong earnings from technology firms, especially chip makers buoyed by AMD’s upbeat AI forecast. Simultaneously, Japanese government bonds...
OpenAI Is so Yesterday — Even for SoftBank
SoftBank has committed $30 billion to OpenAI, boosting its stake to about 13% and generating $45 billion in paper gains as the startup’s valuation hit $852 billion. Yet the conglomerate now faces a liquidity crunch, needing a $10 billion margin loan at roughly 7.9%...
Li Ka-Shing Plans More Telecom Sales in ‘Cash Is King’ Strategy
CK Hutchison, now led by Victor Li, is pursuing additional telecom divestitures after selling its UK mobile business for US$5.8 billion, part of a US$20 billion UK asset sell‑off this year. The conglomerate’s cash balance rose to roughly US$18 billion by the end...
Stocks to Watch: UOB, StarHub, Sats, AA Reit, Coliwoo, Avi-Tech Holdings
UOB posted a Q1 net profit of S$1.44 billion (≈ $1.07 billion), down 4% year‑on‑year but ahead of the S$1.39 billion consensus, nudging its shares up 1%. StarHub’s profit collapsed 81% to S$5.9 million (≈ $4.4 million) as revenue slipped 6% to S$507.3 million (≈ $375 million). Avi‑Tech’s founder sold...
Sun Life Quarterly Profit Jumps on Asia Business Strength
Sun Life’s first‑quarter profit surged as its Asia operations delivered a 17% jump in underlying net income to C$216 million (about $160 million USD). Canadian‑based earnings also rose, with the Canada segment up 7% to C$370 million (~$274 million USD) and earnings per share...
PayPal Plans Job Cuts as Its New CEO Pursues Turnaround Strategy
PayPal announced a $1.5 billion cost‑reduction plan that includes job cuts as new CEO Enrique Lores seeks to reverse a multi‑year performance slump. The company posted first‑quarter adjusted earnings per share of $1.34, topping the $1.27 consensus. Lores reshuffled senior leadership,...
Paragon Deal: Why Investors Should Get Ready for More Reit Mergers and Take-Private Offers
CapitaLand Integrated Commercial Trust (CICT) has agreed to take Paragon REIT private, using cash generated from its recent S$2.5 billion (≈$1.85 billion) sale of Asia Square Tower 2. The deal comes as higher inflation and interest rates squeeze yield‑focused investments, prompting investors to...
Centurion Accommodation Reit’s Q1 NPI of S$37.5 Million Exceeds Expectations
Centurion Accommodation REIT reported first‑quarter net property income of S$37.5 million (≈US$27.8 million), beating its S$36.6 million forecast by 2.4%. Revenue rose 2.7% to S$52.5 million (≈US$38.9 million) on higher occupancy in Singapore worker dorms (94%) and near‑full occupancy in UK (99%) and Australian (97.5%)...
KKR Profits Rise on Growing Assets, Deals Pick up Pace in First Quarter
KKR reported a surge in first‑quarter earnings as fee revenue rose 30% to $1.2 billion, driving adjusted net income to $1.2 billion or $1.39 per share. The firm attracted $28 billion of fresh capital, primarily into its credit platform, which anchors its $758 billion...
Japan Has Two More Windows for Yen Intervention by IMF Rules
Japan can only conduct two more three‑day foreign‑exchange interventions by November without breaching IMF guidelines that define a free‑floating yen regime. The finance ministry clarified that each three‑day episode counts as a single operation, and exceeding three interventions in six...
Singapore Stocks Slip on Fresh US-Iran Clashes; STI Down 0.1%
Singapore’s benchmark Straits Times Index slipped 0.1% to 4,920.61 as fresh US‑Iran clashes erupted in Gulf waters, sparking investor caution. Frasers Logistics & Commercial Trust rose 2.06% to S$0.99 (≈$0.73), while Venture Corporation fell 3.57% to S$16.48 (≈$12.2 million). Total turnover...
MAS Partners Banking Industry to Tap AI, Machine Learning to Combat Financial Crime
The Monetary Authority of Singapore announced a proof‑of‑value project to use artificial intelligence and machine learning for pre‑emptive scam detection. The initiative brings together five local banks, the Government Technology Agency and the Singapore Police Force, creating a secure data‑sharing...