Singapore

It will engineer and construct two 600MW offshore wind farm substations in Taiwan.

Pre-tax profit in the tropical oils segment skyrocketed 81% to $250.88m. Wilmar International started the year with a bang as net profit climbed 26.4% YoY to $349.3m (US$257m) in Q1 driven by better results in tropical oils, sugar and consumer products. The firm noted that its tropical oils (plantation, manufacturing & merchandising) saw an 81% surge in pretax profit to $250.88m (US$183.8m) boosted by stronger sales volume and margins from the manufacturing and merchandising businesses. However, this was partially offset by lower crude palm oil (CPO) prices and production yields, which reduced the contributions from the plantation business. Meanwhile, the oilseeds & grains (manufacturing & consumer products) business saw its pretax profit almost halved (47.2%) to $124.35m (US$91.1m) from $235.59m (US$172.6m) a year ago. The segment succumbed to weaker results from the crushing business, which had been impacted by the African swine fever outbreak in China and a sharp drop in Brazilian soybean basis. For the sugar (milling, merchandising, refining and consumer products), pretax profit recovered to $2.32m (US$1.7m) from a loss of $53.23m (US$39m) a year ago, thanks to the stronger performance from refining and merchandising activities as well as the contributions from Shree Renuka Sugars Limited, in line with the ongoing sugar milling season in India. Meanwhile, the share of results from joint ventures & associates saw a 50% decrease to $28.53m (US$20.9m) as the stronger performances by the group’s Europe and Vietnam investments were offset by weaker contributions from the African associates and investments in China. Wilmar’s earnings per share jumped 28.1% to $0.56 (US$0.41) from $0.44 (US$0.32) a year ago.  

It is also looking to buy Hyflux shares for up to $26m.

And check out which Singapore-based REITs is the cheapest.

The leverage of Singtel is set to increase to 2.3x-2.5x in FY19.

Don’t expect gains today.

Sales of optical goods & books, food & beverages and telecommunications & computers declined.

They will have access to products such as endowment and retirement plans.

Firms can leverage on the Singapore-Nanjing Eco Hi-Tech Island to trial sustainable urban solutions.

They include former representatives of Jefferies Singapore and Legacy FA.

Lower contribution from its Australia hotels hit yearly income.

It lags behind Hamad International Airport and Tokyo International Airport.

Earnings were boosted by OUE Downtown Office.

Non-interest income surged 24% to $1.14b.

The suspension will continue until investigations into its China sales have been completed.

Total derivatives traded volume rose 37% YoY to 20.8 million contracts. Securities daily average value (SDAV) in the Singapore Exchange (SGX) gained 2% MoM to $1.05b during April, whilst market turnover value for Exchange Traded Funds (ETFs) rose 44% to $195m, according to an announcement. Assets under management for STI Exchange Traded Funds (ETFs) reached a milestone in April as fund size exceeded $1b. Total derivatives traded volume rose 37% YoY to 20.8 million contracts, as global demand for risk management across asset classes continued. Total securities market turnover by volume was up 7% MoM to 22.9 billion shares, driven largely by real estate and consumer sectors. The local bourse also noted that overall commodity derivatives volume increased 64% YoY, with volumes of iron ore and freight derivatives up 73% and 53% YoY, respectively. Amidst swings across regional equity markets, the Singapore stock market was the best performing market globally in April. The Straits Times Index (STI) surpassed the 3,400 mark, generating 6.1% increase in total returns, propelled by Banks (+10.8%) and Utilities (+6.6%) sectors.