Bizview: Today's top business news

Pedestrians walk past the SGX Centre, which houses the Singapore Exchange Ltd. headquarters, in Singapore. PHOTO: BLOOMBERG
Pedestrians walk past the SGX Centre, which houses the Singapore Exchange Ltd. headquarters, in Singapore. PHOTO: BLOOMBERG

STI down 12 points, penny stocks dominate market again

The local market was again dominated by activities away from the big caps, as investors kept their eyes on penny plays while acting on excitement over a new listing and rumours of stake sale. The highlight of the market yesterday was iX Biopharma, which debuted on the Catalist board with a strong start. After opening 7.6 per cent above its initial public offering price, the pharmaceutical company ended 6.5 cents or 21.74 per cent higher to close at 56 cents.

CapitaLand Mall Trust's Q2 DPU edges up 0.7%

Mainboard-listed CapitaLand Mall Trust (CMT) said on Wednesday that its distribution per unit (DPU) for the second quarter to June 30, 2015, edged up 0.7 per cent to 2.71 cents from 2.69 cents a year ago despite a fall in property income. Correspondingly, distributable income for the quarter was up 0.7 per cent to S$94.0 million from S$93.4 million for the same quarter last year.

Frasers Centrepoint announces DPU of 3.036 cents, a new high for third quarter

Frasers Centrepoint Trust has announced a distribution per unit of 3.036 cents for the third quarter ending June 30, a new-high for a quarter, the company said in a release on Wednesday, as shopper traffic increased at its malls. Gross revenue for the quarter rose 14.3 per cent year-on-year to S$47.1 million and net property income rose 12.8 per cent to S$32.9 million.

Singapore consumer confidence dips again in July: ANZ-Roy Morgan index

Consumer confidence has dropped again this month, according to the ANZ-Roy Morgan Singapore Consumer Confidence Index, which saw a month-on-month decrease of three points to 126.4. Respondents who said that their families are "better off" financially than they were a year ago fell from 29 per cent to 27 per cent.

iX Biopharma opens strongly on Catalist debut

Shares of iX Biopharma, a Singapore-based speciality pharmaceutical company, made a strong debut opening on the Catalist board on Wednesday morning. The counter opened at 49.5 cents, 3.5 cents or 7.6 per cent above its initial public offering (IPO) price of 46 cents.

Shipbuilder Vard Holdings' starts job cuts as Q2 profit falls 58.6%

Shipbuilder Vard Holdings said on Wednesday that its second-quarter earnings fell sharply as new orders declined due to the slump in oil and gas prices. Net profit for the three months ended June 30, 2015, fell 58.6 per cent to 58 million Norwegian kroner from the year-ago quarter.

Malaysian money changers warned against hoarding foreign currencies

Malaysian money changers have been warned not to hoard foreign currencies to profit from the slumping ringgit, the Malaysian Insider news site reported on Wednesday. The warning came from the head of the Malaysian Association of Money Services Businesses (MAMSB) who said stockpiling to profit from the weak ringgit could pose risks in a volatile market.