Investors withdrew hundreds of billions of dollars from emerging markets last year, dealing another blow to nations already suffering from slowing growth, high debt and plunging commodity prices. Net capital outflows amounted to around US$735 billion (S$1.05 trillion) in 2015, the highest on record, said the Institute of International Finance (IIF).
Security firm Secura Group launched its initial public offering (IPO) on the Singapore Exchange's (SGX) Catalist board on Wednesday (Jan 20). The invitation comprises 112 million new shares at 25 Singapore cents each, including four million public offer shares and 108 million placement shares.
Singapore-listed rig builder Sembcorp Marine shares jumped on Wednesday (Jan 20) after reports its parent, Sembcorp Industries, might inject funds or take full control of the company to replenish finances strained by a collapse in oil prices.
Royal Dutch Shell said fourth-quarter profit plunged as the rout in crude prices deepened. The company sees profit adjusted for one-time items and inventory changes of US$1.6 billion (S$2.29 billion) to US$1.9 billion, The Hague-based Shell said Wednesday in a preliminary earnings statement.
One out of four US companies active in China has moved some operations out of the country or is planning to, as conditions worsen in the world's second-largest economy, an American business group said on Wednesday (Jan 20).
Crude futures slumped again in Asian trade on Wednesday (Jan 20), losing more than 2 per cent as US oil dropped towards US$27 a barrel, its lowest since 2003, on worries about global oversupply.