29/08/14; #Singapore News Updates ✓ Fitch Ratings says that the prudential and regulatory framework for banks in Singapore remains strong. ✓ Asian markets slipped today as the prospect of a military confrontation between Ukraine and Russia knocked confidence and offset forecast-beating US growth data. ✓ Singapore’s Olam International, one of the world’s biggest traders of rice, coffee and cocoa, posted flat annual core earnings, hampered by weaker sales in the latest quarter as the company exited or downsized businesses. Its net profit for the quarter ended June fell 43.9% to $31.8 million. ✓ IPS Securex Holdings, the provider of security products and integrated security solutions, said it has won a $4.5 million contract from the HDB for the installation, leasing and maintenance of alert alarm systems (AAS) for several blocks of residential housing across Singapore. The AAS is for use by the elderly during an emergency. ✓ According to central bank data, total bank lending in Singapore was barely changed in July from June as loans to manufacturing, building and construction rose while lending to financial institutions fell.
Posted on: Fri, 29 Aug 2014 07:08:17 +0000
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