Singapore Morning News For May 26

Noble Group dealt fresh blow as Fitch cuts its ratings yet again
Noble Group Ltd received a fresh blow as Fitch Ratings Ltd cut the embattled commodity trader’s rating for a second time in the space of 10 days, flagging concern over its ability to address about US$2 billion of debt that matures over the next 12 months.
— The Business Times

Singapore Sees Growth Exceeding 2% in 2017 as Exports Climb
Singapore’s government gave an upbeat outlook on the economy, saying it will probably expand more than 2 percent this year as exports continue to strengthen.
Key Points
— Hellenic Shipping News

Economy expanded 2.7% in Q1
The economic outlook for this year appears to be gradually brightening, with the Ministry of Trade and Industry (MTI) indicating yesterday that growth is likely to come in above 2 per cent.
— The New Paper

Singapore investors turn to emerging markets for better returns
Emerging nations have made it to the top five markets for investment and development this year, based on the Emerging Trends in Real Estate Asia Pacific 2017 report published by the Urban Land Institute and PwC. The rise in foreign investor sentiment is attributed to higher yields and industry-driven opportunities gained through strategic entry into these markets.
— Property Guru

Singapore edging up as world’s second-largest shark’s fin trader
Despite various moves here in recent years, such as hotels removing shark’s fin from their restaurant menus, for example, Singapore has moved up the ranks to become the world’s second-biggest trader of the product, a report has found.
— Today Online

Security at major events here a concern
Staff from local event organiser LAMC Productions were surprised when security personnel did not check ticket-holders with handheld detectors at recent concerts.
— The New Paper

Chinese money lifts Singapore housing market sentiment
Chinese developers ploughed over US$5.1 billion (S$7.1 billion) into the Asia-Pacific residential market in the first three months of this year, a report from property consultancy Knight Frank showed yesterday.
— Today Online

SIA turn to non-flagship brands to boost profits
Singapore Airlines’ flagship brand has historically been the airline’s main profit source, accounting for 62-99% of the its earnings before interest and taxes (EBIT) over the last five years.
— Singapore Business Review

TSA PreCheck additions: Singapore, Turkish and Silver among new airlines
The Transportation Security Administration’s PreCheck program continues to expand to more airlines. The agency announced Thursday that seven airlines have been added.
— USA Today

Oil languishes after OPEC fails to deepen supply cuts, Asia stocks retreat
Crude prices remained subdued early on Friday after an agreement by OPEC to extend existing supply curbs disappointed many who had hoped for larger cuts.
— Reuters

ComfortDelGro’s taxi yields slump 12% to $33.8m
ComfortDelGro’s taxi business struggled in Q1 as it recorded a $4.7m fall or 12% YoY in operating profit to $33.8m.
— Singapore Business Review

Singapore Airlines L (SINGY)’s Moving Averages Under the Microscope
Moving Averages are oft-deployed technical indicators that smooth out pricing after filtering out random price fluctuations. It’s a trend-following, or lagging, indicator that is based on past pricing.
— Nelson Research

Investing for singles
The Economist Intelligence Unit’s cost-of-living survey has consistently ranked Singapore as the world’s most expensive city. Although housing can be rather pricey, it’s still possible for singles to secure a home by taking advantage of various grants and financing options.
— Property Guru

Singapore responds to appeal on Pedra Branca
Singapore has responded to an application by Malaysia to revise a 2008 international judgment that awarded sovereignty of Pedra Branca to the Republic.
— The New Paper

To stay ahead, SIA must revisit its innovative roots
Singapore Airlines (SIA) last week announced it will be taking “bold radical measures” in a major business transformation plan following a fourth-quarter operating loss of S$41 million by the parent airline.
— Today Online

Intercontinental Hotel Double Bay sold to Asian buyers for $140m
The Intercontinental Sydney Double Bay in the Eastern Suburbs has been acquired for $140 million by Chinese private groups Zobon Real Estate and Shanghai United marking the first five-star Sydney hotel sale in two years..
— Financial Review

In Singapore, Merpati Road holdouts in process of moving out
All three of the Merpati Road households in MacPherson that were late in vacating their land have accepted compensation, although two of them had yet to move out by the deadline on Wednesday.
— Malaymail Online

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Singapore Morning News For May 26 added by Leakhena Khat on May 26, 2017
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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.