Singapore

The JV will acquire 29.05 acres of freehold land for $3.2m.

It has 45% market share in consumer pack edible oils. Set for its China initial public offering (IPO) listing in Q4, Wilmar could bank on its China segment to trade at a higher valuation against its peers, thanks to its strong market positioning in the oilseeds & grains processing segment which accounted for 60% of the group’s profit after tax (PAT), according to a report by UOB Kay Hian analyst Leow Huey Chuen. The analyst noted that its ARAWANA brand is one of the well-known premium household brandsin China, not only for cooking oil but also for consumer pack rice, flour and dry noodles. “Wilmar is the top producer of consumer pack edible oils in China with about a 45% market share. Associate company, Luhua (33% stakes), is also the top peanut oil producer in China,” Leow added. With a 10% listing, the report said that proceeds from the IPO are expected to be at around $1.62b (US$1.2b) to $1.76b (US$1.3b) and the bulk of the proceeds will be utilised for expansion in China, which is in line with management’s 2019 capex guidance of $1.620-$1.76b (US$1.5b-1.6b.). “Much of the capex has been allocated for expansion of soybean crushing, wheat flour and rice milling capacities in China. Higher allocations could go towards to rice and flour, which are just starting to see consumer purchases slowly migrating to premium brand,” the analyst explained. The report also noted that Wilmar’s subsidiary, Yihai Kerry, launched a $590m (RMB3b) investment project in Guangzhou, China involving a processing complex which consists of a soybean crushing mill, consumer pack edible oil plant, specialty fats plant, rice project, chocolate project, central kitchen project, cold chain logistics project, plastic packaging materials project, consumer experience museums and other projects. 

The way people want to work is constantly evolving. Driven by needs that are sometimes not provided by a permanent placement, for example, flexible working arrangements or gaining experience without a need to commit to a company, more people today seek greater control over the way they work.

As growing uncertainty mounts in the global economy due to the US-China trade conflicts, the need to transform Singapore into a globally competitive, self-sustaining and technology-driven nation grows increasingly urgent. Singapore, heavily reliant on exports, could lose $22b in GDP according to analysts, due to the trade war.

It aims to reduce travelling and waiting time by offering virtual appointments.

DBS led the gains after its stock grew 0.39%.

Newcomers still have to create significantly large funding and capital bases to contend with incumbents.

And SingPost launched 10 new stamps to commemorate the bicentennial.

There were 2,417 deals for factory and warehouse space during the quarter.

It will fund 37MWp of solar PV installations at 210 sites.

It will repurchase the notes at the daily prevailing market price quoted for the notes.

After booking pre-tax losses for three straight years, the retailer bounced back with $939,000 profit in FY2018/2019.

If it fails, it will only be recognised as a cash company.

Amongst popular destinations are Malaysia, Japan, and Thailand. Singaporeans looking for an escape through leisure travel spend $1,086 on average, according to aggregator website Picodi. With only 5% saying they do not bother saving on trips, the rest applied their own strategies such as buying tickets in advance (68%) and booking their stay ahead of time (40%). The study found that Singaporeans opt for longer getaways, with 44% of them saying their trips last around a week. Meanwhile, 30% said that they spend two weeks or more on holidays, and 26% revealed that their trips last less than a week. In terms of frequency, 34% revealed that they go on holiday once a year, and 45% had the chance to go on vacation twice a year or more frequently. Meanwhile, 21% of respondents said they could catch vacation opportunities less than once a year. The study found that the most popular countries for Singaporeans as option for travel destinations are Malaysia, Japan, Thailand, Hong Kong, and Australia.  

The properties in France and Poland have a combined LGA spanning 110,348 sqm.

It will fund the development of Seasons City (Phase 1) in the Sino-Singapore Tianjin Eco-City.