Changi Airport Group (CAG) will resume operations in Terminal 4 on Sept 13, more than two years after it closed during the Covid-19 pandemic.The terminal, which has a capacity of 16 million passengers, will add to the airport’s capacity, ensuring that it can meet the increasing demand for air travel, and support airlines’ plans to launch more flights.CAG says it will conduct various operational readiness trials with the airlines and airport partners to ensure that the terminal’s smooth reopening.With the reopening, CAG adds that 16 airlines will be relocated to Terminal 4 progressivelyCathay Pacific and Korean Air will begin flight operations in the terminal on Sept 13.AirAsia Group will follow suit on Sept 15.Other airlines that will make the move to the new terminal include Cebu Pacific,
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$Apple(AAPL)$Apple's Q2 2022 Earnings Conference call is to be released on April 28! As the world's most valuable publicly-traded company, its earnings update is important for investors to check.IOS devices are boosted on the return to work and reopening of the U.S. economy. While we are now moving to a post-Covid-19 pandemic recovery era, the supply chain constraint could be a vital factor to consider. Generally, analysts continue to see Apple as a long-term winner, believing there is more room for revenue growth in advertising-related areas, AR/VR opportunities, and Apple services like TV and Music. Bank of American keeps an objective price at $215, reiterates BUY. Moreover, it is expected for Apple to announce a $70 billion+ buyback authorizati
Changi Airport to resume Terminal 4 operations in September
Changi Airport to resume Terminal 4 operations in September
$KEPPEL DC REIT(AJBU.SI)$has acquired a freehold property comprising two data centre buildings in De Hurk, a business park in Eindhoven in the Netherlands. The REIT paid EUR37.2 million ($59.9 million) for the properties and the seller was a fund affiliated with MCAP Global Finance (UK).Based on an independent valuation by CBRE Valuation & Advisory Services, the market value of the property was set as EUR35.4 million.The property will be named Eindhoven Campus and it is Keppel DC REIT’s third data centre asset in the Netherlands. The data centres are close to Eindhoven’s city centre and international airport. The property consists of two shell and core data centre buildings as well as a warehouse and an ancillary office building. It is full
SIA redeems outstanding zero coupon MCBs worth $3.5 bil
Singapore Airlines (SIA) has given notice of its intention to redeem the $3.5 billion in rights mandatory convertible bonds (MCBs). The accreted principal amount, being 110.41% of the principal amount, will take place on Dec 8, says SIA via a bourse filling dated Oct 25. On June 8, 2020, SIA completed its $5.3 billion rights issue and issued its $3.5 billion MCBs with a conversion price of $4.84. Shares in $SINGAPORE AIRLINES LTD(C6L.SI)$closed 1 cent lower or 0.2% down at $5.03 on Oct 25.
SIA redeems outstanding zero coupon MCBs worth $3.5 bil
Why inflation heats up and is so hard to cool down
One of the biggest challenges facing the post-pandemic world is how to tame inflation. After governments spent freely to offset the economic fallout of the Covid-19 pandemic, prices began to climb at the fastest pace in decades and central banks embarked on the most aggressive and synchronized monetary policy tightening in 40 years. When prices surge, people can afford less, businesses struggle to control costs and, in extreme cases, political revolutions are born. 1. How is inflation measured? At the most basic level, inflation is an increase in overall prices in an economy over a period of time — monthly or annually, typically — and an accompanying decrease in purchasing power. One common way to measure it is by tracking the change in the cost of a basket of goods purchased by a typical
Why inflation heats up and is so hard to cool down
Elon Musk said he’s terminating his US$44 billion ($61.60 billion) agreement to acquire Twitter Inc. and take it private, triggering a legal fight with the company.Twitter has made “misleading representations” over the number of spam bots on the social network, and hasn’t “complied with its contractual obligations” to provide information about how to assess how prevalent the bots are, Musk’s representatives said Friday in a letter to Twitter as part of a regulatory filing.Twitter said it will fight back in court.“The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement,” Bret Taylor, chairman of the board, said in a Tweet. “We are confident we will prevail in the Delaware Cour
$Tesla Motors(TSLA)$CEO Elon Musk on last Thursday praised $Volkswagen AG(VWAGY)$CEO Herbert Diess for his electrification push at the German auto giant.The billionaire entrepreneur said the legacy automaker is “lucky to have” him and that he deserves a “lot of credit for moving VW rapidly towards electrification.”Musk was replying to a post on $Twitter(TWTR)$, in which Diess is seen praising Musk and $Tesla Motors(TSLA)$in an interview with Lesley Stahl on CBS News.[Surprised] [Surprised] [Surprised] “Tesla is quite ahead currently, and they’re growing fast, I have to admit. He is taking more risks
Airbus Asia Training Centre (AATC), a joint venture that is 55%-owned by Airbus and 45%-owned by SGX-listed Singapore Airlines (SIA) has signed a contract with New Caledonia’s Aircalin to provide flight training for its A320 and A330 pilots.Under the agreement, up to 35 pilots from Aircalin could undergo recurrent training on both aircraft types to maintain their skills and qualifications.As part of the training package, Aircalin will also be able to undergo Airbus cross crew qualification (CCQ) training.The training prepares pilots who already hold an A320 type rating to be qualified to fly the A330 aircraft and vice-versa. Aircalin’s fleet comprises one A320neo and two A330neo, with another A320neo on order.Aircalin, on July 1, launched a non-stop service between New Caledonia’s capital
Changi Airport’s Terminal 2 will re-open progressively starting from May 29, ahead of the pick-up in passenger volume, says the Changi Airport Group.Terminal 2 has been shut since May 2020, when air traffic collapsed because of the pandemic. It was put through a major refurbishment, which will increase its annual handling capacity by 5 million to 28 million when fully completed come 2024.Terminals 1 and 3 remain in business, while Terminal 4, the budget terminal, is similarly shut like Terminal 2.This month, the level of air passenger traffic handled in Singapore has hit above 40% - more than double the just under 20% level seen in March.“CAG is encouraged to see the strong pickup in travel demand and has worked closely with our partners to bring forward the progressive reopening of T2 ahe
Sembcorp Industries says it is expecting its financial results for the 1HFY2022 ended June to be “materially higher”.The better-than-expected performance for the half-year period was driven by the company’s conventional energy segment.Electricity prices in Singapore and India continued to remain high in the 1HFY2022.Sembcorp will release its results on Aug 5.Shares in Sembcorp closed 3 cents higher or 1.03% up at $2.93 on July 18.$SEMBCORP INDUSTRIES LTD(U96.SI)$
Changi Airport’s passenger traffic for June had reached just over half, or 50.3% that of pre-pandemic June 2019. A total of 2.93 million passenger movements were handled.In the same month, aircraft movements, including both landings and takeoffs, totalled 18,400 times, equivalent to 58.6% that of June 2019.Cargo volume, less affected throughout the pandemic, was 163,000 tonnes for the month, up 1.4% y-o-y.“We are encouraged by the steady increase in passenger traffic as it is a sign that we are getting back on the trajectory of growth towards pre-pandemic levels,” says Lim Ching Kiat, Changi Airport Group’s managing director for Air Hub Development.“The reopening of Terminal 4 and partial opening of Terminal 2 will give us the capacity to support our airline partners’ efforts in restarting
WTO slashes forecast for merchandise trade growth in 2023
Global merchandise trade will slow next year as “multiple shocks” ranging from Russia’s war in Ukraine, high energy costs in Europe and US monetary policy tightening raise manufacturing costs and squeeze households, the World Trade Organization said. The Geneva-based institution said it expects trade growth to fall sharply in 2023 to 1%, compared with its previous forecast of 3.4%, according to a report released Wednesday. The WTO also raised its projection for growth in merchandise trade this year to 3.5%, up from its previous projection of 3%. The WTO’s forecasts -- which are in line with IMF and OECD projections -- mark a major deceleration from last year’s 9.7% growth in global trade. That was fueled by consumer purchases of household items while travel and other service industries wer
WTO slashes forecast for merchandise trade growth in 2023
Inflation's winners need to help out the losersIt’s tough being caught in the middle, especially when it comes to inflation.The pandemic caused a significant shift in demand toward goods and away from services and shattered the stable supply-demand balance that had spawned two decades of inflation averaging just above 2%. This abrupt change in demand patterns sparked pricing shocks that basically divided companies into winners, survivors and losers on inflation.The last group will be playing catch-up on price increases, which is why inflation will most likely prove to be more stubborn than many people expect. To help cool inflation faster and return to an economy anchored by balanced supply and demand, some businesses will need to pull back on the price increases they have already passed t
'Gen Z bank' GXS launches with Grab, Singtel backingBacked by a consortium consisting of Grab Holdings (Grab) and Singtel, GXS Bank (GXS) has launched as Singapore’s first digital bank for consumers and businesses.The launch on Aug 31 comes more than a year and half after the Monetary Authority of Singapore announced four successful bids for digital banking licences here — two are digital full banks and two are digital wholesale banks.Styled as a “digital native”, the digital bank’s main product is the GXS Savings Account, targeted at gig economy workers, self-employed entrepreneurs, small businesses and those new to the workforce.At launch, customers can deposit up to $5,000 into their accounts. According to GXS, the account allows them to earn interest daily at 0.08% p.a. The interest ea
$SINGAPORE AIRLINES LTD(C6L.SI)$has renewed as the title sponsor of the Formula 1 Singapore Airlines Grand Prix for three more years, starting with the edition later this year.SIA, which is starting to recover from the pandemic, first signed as the title sponsor back in 2014. It has since renewed the sponsorship three times. This year’s F1 in Singapore will be held between Sept 30 and Oct 2.“This year’s highly anticipated Formula 1 Singapore Grand Prix will be an important milestone for Singapore, marking the return of a major international sporting event to the city after a two-year disruption due to the pandemic,” says Lee Lik Hsin, SIA’s executive vice president, commercial.“SIA’s extension of its title sponsorship signals our continued suppo
Keppel Corp signs definitive agreements with SembMarine for proposed merger with Keppel O&MKeppel Corporation has entered into definitive agreements with Sembcorp Marine (SembMarine) for the proposed combination of Keppel Offshore & Marine (Keppel O&M) and SembMarine on April 27.Keppel Corp and SembMarine had previously stated that they would have a definitive agreement ready by April 30.After taking into account the respective capital structures of the two companies, the $500 million cash that Keppel O&M will pay to Keppel immediately prior to the closing of the transaction and other adjustments, the agreed equity value exchange ratio will result in Keppel and its shareholders owning 56% of the Combined Entity and Sembcorp Marine shareholders owning 44% on completion.On a
$SATS LTD.(S58.SI)$$SINGAPORE AIRLINES LTD(C6L.SI)$Just like the rest of the aviation sector, when the pandemic broke out, investors flew the coop on Sats, sending its share price down by half from about $5.10 before the Covid-19 pandemic, to a low of $2.52 during the selloff on March 23, 2020.Two years on, with vaccination and the gradual reopening, shares of Sats have recovered as well. On April 27, it closed at $4.63, valuing the airport ground-handling and in-flight catering service provider at $5.2 billion.The rise in the share price is backed by investors’ optimism with the improving numbers. For the most recent 3QFY2022 ended Dec 31, 2021, Sats reported revenue of $307.8 million, up 22.6% y-o-y
Permanence and long-term focus business objectiveRaised by the most famous long-term investor Warren Buffet, Berkshire Hathaway is a true long-term focused investment firm. During the meeting, one of the attendance said: many other investment companies who try to copy the success of Berkshire failed as they could not keep long-term oriented and turn to short-term objectives.Trust-based business cultureExample: Berkshire’s reputation is guarded by this culture for many years.Quality ShareholdersLast but not least, quality long-term shareholders are also essential to Berkshire’s achievement. Berkshire has nearly 30% of individual investors who held their Berkshire stocks for years. They stood with the company even when the company didn’t perform as expected. [Cool] [Cool]
Mainboard-listed Aspial Corp, controlling shareholder of Catalist-listed Maxi-Cash Financial Services Corp, plans to sell a group of businesses into the latter for at least $87.8 million.The transaction, meant to consolidate the various jewellery brands under one listed entity, can be worth up to $99.8 million if subsequent earnings targets are met.The target companies include Aspial Lee Hwa Jewellery Singapore; Gold Purple and BU2 Services. Besides holding these entities, Aspial Corp has significant property interests as well.Maxi-Cash, meanwhile, focuses on pawn-broking and money-lending.The deal requires the go ahead from shareholders of both listed companies.To pay for the deal, Maxi-Cash will issue around 311.7 million new shares at 16.3 cents each worth $50.8 million, which will lift
Ascendas REIT has proposed to acquire a portfolio of seven logistics properties in Chicago for US$99 million ($133.2 million), says the REIT manager on May 10.All seven properties are located on freehold land with a total net lettable area (NLA) of 132,344 sqm. They are located across six infill industrial submarkets across Chicago, Illinois, in the US.The properties will be acquired from third-party vendors, BREIT Industrial HS Property Owner LLC, BREIT Industrial Canyon IL1M03 LLC, BCORE Jupiter NEMW 1 LLC and Icon Pac Owner Pool 4 Northeast/Midwest, LLC.The acquisition is said to be accretive to Ascendas REIT’s distribution per unit (DPU). If the proposed acquisition was completed on Jan 1, 2021, the REIT’s DPU would have improved by 0.001 cent or 0.01%.The estimated net property income
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