Navigate
Most Popular
- CapitaMalls Asia to replace Cosco in STI after half-yearly review
- March 11: Tiger Airways, SGX, Sembcorp Industries
- March 10: OUE, Lian Beng, Aztech, Pteris Global
- CapitaLand says boom in China property not a bubble
- STI up 0.8%; more upside as long as above 2,830, says SIAS
- Sembcorp Marine unit snags $130m pre-FPSO conversion contract from Petrobras
- STI gains 0.4% to close at 2,873.91
- STI gains 0.6% to 2,857.76 at 10:05 a.m.
- STI gains 0.8% to 2,862.29 at closing
- UBS’s senior Asian investment banker resigns
- India’s Fortis Healthcare to acquire 24% stake in Parkway Holdings for $959m
The Daily Edge
March 12: Parkway Holdings, Sembcorp Marine, Cosco, Sin Heng Heavy Machinery
The Singapore market recovered from earlier losses at the end of yesterday’s trading, finishing slightly higher. The key Straits Times Index rose 0.41% to 2,873.91. In the broader market, gainers edged out losers by just five counters. Last night, the S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted US stocks, more than offsetting worries China may...
India’s Fortis Healthcare buys TPG’s Parkway stake
Indian hospital chain Fortis Healthcare (FOHE.BO) will buy 23.9% of Singapore’s Parkway Holdings (PARM.SI) from US buyout firm TPG Capital in an expansion drive into Asia and the Middle East. The $959 million deal will give Fortis a foothold in Singapore and Malaysia and make it the biggest private hospital network in Asia, it said.
Cosco unit cancels 1 shipbuilding contract, delays delivery of 4 others
Cosco Corporation (Singapore) says subsidiary Cosco (Dalian) Shipyard Co. has agreed to cancel the shipbuilding contract of an 80,000 dwt bulk carrier following a request by a European shipowner. Construction of the vessel has not commenced and as part of the order agreement, the buyer has paid compensation to Cosco Dalian. Meanwhile, subsidiaries Cosco (Zhoushan) Shipyard Co. and Cosco (Guangdong)...
India’s Fortis Healthcare to acquire 24% stake in Parkway Holdings for $959m
Fortis Healthcare, India’s fastest-growing healthcare company, has announced the acquisition of a 23.9% strategic stake in healthcare service provider Parkway Holdings from TPG Capital (formerly Texas Pacific Group). Parkway has a network of 16 hospitals having 3,400 beds spread over six countries, including India. The deal size is estimated to be about US$685.3 million ($959.4 million)....
STI gains 0.4% to close at 2,873.91
Singapore’s Straits Times Index gained 0.4% to 2,873.91 at the close. Two stocks rose for each share that fell on the 30-member gauge. Shares on the measure trade at 15 times estimated earnings, compared with about 17.5 times at the start of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Blog Heads
Mid-Week Comment March 10: Asian REITs outperform
SO FAR, Asian stock markets have been going nowhere this year. Year-on-year though, the STI has almost doubled, the S&P500 is up 69%, and the FTSE All-World Index up 75% in US$ terms. Not surprising then that after such a performance, markets are taking a breather.
Bob Doll: Markets caught in crosscurrent
THE MILD SETBACK for US equities of late could be attributed to a combination of fierce winter storms in the northeastern US, ongoing concerns about economic growth and the prospects for hiring and some disappointing consumer- confidence figures. For the week ended Feb 26, the Dow Jones Industrial...
Why Hong Kong’s property market will stay frothier than Singapore’s
FOREIGN MONEY, escalating home prices, locals feeling priced out of the market, cooling measures. This isn’t just happening in Singapore, it’s also hitting Hong Kong. In both cases, a global economic upswing plus a loose monetary climate have triggered an inflow of money desperately looking...
Lim Yin Foong: The new face of British banking
IMAGINE A BANK that operates seven days a week, where you can open a bank account in 15 minutes and receive your credit card, debit card and chequebook immediately. Standard practice in Asia, you may say. It’s expected of our banks, you may add. Here in the UK, however, where consumers have...
Daryl Guppy: Crouching tiger hidden in China PMI
THE CHINESE PURCHASING Managers’ Index (PMI) was released last week and it just created confusion. There is no dispute that the PMI is down for February, but that fact does not help explain its significance. The official China National Bureau of Statistics PMI fell to 52% in February. That’s...
