Small and medium enterprises (SMEs) in Singapore remain underprepared for dealing with significant business risks and threats, according to a survey by global insurer QBE. Its research revealed that as many as one in seven smaller SMEs do not have any business insurance at all.
Sentiment at some of Asia's biggest firms deteriorated again in the fourth quarter, falling to a four-year low under the weight of concerns about slowing growth in China, the region's biggest economy, a Thomson Reuters/Insead survey showed.
The Urban Redevelopment Authority (URA) on Wednesday (Dec 16) released the detailed sales conditions for a "white site" plot at Central Boulevard that is expected to garner keen interest from developers.
Piquant Capital Pte is shutting its quantitative hedge fund as it failed to attract investor money after making a loss in 2014, the firm's chief investment officer said.
Mainboard-listed Yoma Strategic Holdings announced on Wednesday (Dec 16) a 50:50 joint venture with Mitsubishi Corp to distribute the Japanese cars in Myanmar. The joint venture company, MM Cars Myanmar Ltd, will be responsible for the distribution (wholesale), retail sales, after-sales services, and maintenance services of Mitsubishi cars and spare parts.
Shares of Singapore-listed Noble Group jumped when trading opened on Wednesday (Dec 16) after Asia's largest commodities trader said that it was in advanced talks to sell the rest of its agriculture unit, potentially bolstering its drive to raise cash and avoid a credit-rating cut to junk.
Shares of Prada plunged 6.4 per cent on Wednesday (Dec 16) after the Italian luxury goods maker posted a 38 per cent plunge in quarterly profit to 46.5 million euros (S$71.6 million), weighed down by slumping sales in Greater China as economic growth slowed.
Genting Hong Kong said on Wednesday (Dec 16) that it plans to sell a 2.3 per cent stake in Norwegian Cruise Lines Holdings (NCLH) for about US$148.25 million (S$208.5 million). The sale will result in a gain of US$14.5 million (S$20.4 million) for the leisure and gaming company, with proceeds to be used for working capital and to fund new investments should opportunities arise, it said.
China's economy, already in the midst of a half-decade deceleration, won't arrest its downward trajectory until at least 2018. Six of 12 economists surveyed by Bloomberg last week say 2018 will be the turnaround year, while five said it will take until 2019 or after for growth to re-accelerate.