• 14
  • 1
  • Favorite

SG Morning Call | Singapore Economy Expected to Grow By 1.8% YoY in 4Q; Alibaba Pumps $630M Into Lazada in Race With Sea

Tiger Newspress2023-12-14

Singapore Economy Expected to Grow By 1.8% Y-O-Y in 4Q2023: MAS Survey

The Singapore economy is expected to grow by 1.0% in 2023, according to the Monetary Authority of Singapore’s (MAS) December survey of professional forecasters. The full-year estimate is unchanged from September’s survey and lower than the 1.4% that was forecasted in MAS’s June survey.

This comes after Singapore’s gross domestic product (GDP) expanded by 1.1% y-o-y in the 3Q2023, slightly above the respondents’ median forecast of 1.0% in September. In December, the survey’s 25 economists and analysts are now expecting Singapore’s economy to grow by 1.8% in the 4Q2023.

SGX Appoints CFO Ng Yao Loong As Co-Head of Equities

SINGAPORE Exchange (SGX) chief financial officer (CFO) Ng Yao Loong will transition to the position of head of equities by mid-2024.

He will take on the role to join Janice Kan as co-head, “to provide dedicated leadership in the development of our securities market”, said SGX.

In the meantime, Ng will continue to serve as CFO. The search for a new CFO is under way, said the bourse operator on Wednesday (Dec 13).

Alibaba Pumps $630M More Into Lazada in Race With TikTok, Sea

China's Alibaba Group Holding has invested an additional $634 million in Singapore-based e-commerce subsidiary Lazada amid an intensifying battle with TikTok and others for the Southeast Asian market.

Lazada issued a placement of stock to Alibaba's Singapore subsidiary on Thursday, according to a filing with local authorities.

Alibaba has repeatedly injected cash into the company since 2022, with this most recent investment -- its third in 2023 -- bringing this year's total to over $1.8 billion.

Singaporean tech group Sea, which operates Lazada competitor Shopee, has also announced plans to increase investment in its live commerce business.

Marriott Bonvoy and Singapore Airlines’ KrisFlyer Program Tie-up

The business of loyalty rests on making customers’ lives easier so that they come back for more. Partnerships help a lot and airlines and hospitals are a natural fit. 

Marriott and Singapore Airlines have unveiled a new partnership that gives Bonvoy and KrisFlyer members more ways to maximize benefits. 

Effective immediately, eligible members of the two programs will receive a status match to a comparable tier in the other program. Both have also launched an accelerated path to earn higher elite status. 

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment1

  • Shazzad
    ·2023-12-14
    Hello
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial