SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.
1. Battered Tiger Airways replaces CEO with Singapore Airlines executive. Mr Lee Lik Hsin, a 20-year veteran of SIA, which owns 40 per cent of Tiger, will become chief executive from May 12, replacing Mr Koay Peng Yen, who joined Tiger less than two years ago.
2. Rotary Engineering Q1 net profit jumps as revenue surges. The almost fivefold jump in net profit for the first quarter from a year ago to $14.4 million came on the back of a near-doubling in revenue to $199 million.
3. AIMS AMP Reit's Q4 distribution per unit (DPU) down 20.1 per cent at 2.51 cents. A private placement of units and a recent rights issue combined to put a dent in theReit's fourth-quarter DPU.