1 Fidelity Investments is warning that deflationary pressures in the US are building. The Federal Reserve will raise interest rates slowly, as a result. Fidelity also said investors should own high-quality bonds to diversify holdings amid a stock market rout, Bloomberg reported.
2 Aspial Corporation, which has businesses in property, jewellery and financial services, said that its first retail bond offering has been oversubscribed. The overall offer was 3.9 times subscribed, while the retail tranche was about 8.7 times subscribed.
3 China-based, Singapore-listed Hu An Cable said it expects to report a loss for the six months ended June 30, reversing a loss for the same period last year. Hu An also said China's economic reforms have posed an unprecedented challenge to its business environment.
4 GuocoLeisure's full-year net profits rose 23 per cent to US$47.9 million (S$67 million). Revenue fell 8 per cent to US$423.2 million. It declared a final dividend of 2.2 cents a share. Hotel operations are mainly in Britain, so results are hit by the weakening sterling.
5 Lum Chang's full-year net profit rose 19 per cent to $29.8 million while revenue rose 13 per cent to $312.4 million. The company recently bought two freehold commercial properties in Britain. The firm declared a final dividend of 1.25 cents a share.