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International News 2022-11-29 15:24:26

Singapore homeowners worried by soaring interest rates but analysts say strong job market, strict lending rules will reduce impact

SINGAPORE, Nov 27 — When banks announced that home loan interest rates were going up, Siti (not her real name) was worried about whether the rates would continue to rise and significantly affect her family’s monthly expenses.

The 32-year-old real estate salesperson had initially taken a loan with the Housing and Development Board (HDB) for her four-room resale flat, before refinancing with a bank loan of S$260,000 (RM846,696) with a tenure of 25 years and a floating rate of 1.3 per cent with a three-month compounded Singapore Overnight Rate Average (Sora).

So...

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International News 2022-11-29 15:21:02

Terberg Tractors launches Malaysia’s first fully battery-powered electric terminal tractor

JOHOR BARU, Nov 29 — Terberg Tractors Malaysia Sdn Bhd (TTM), a joint venture between Sime Darby Industrial and the Netherlands-based Royal Terberg Group BV, has officially launched Malaysia’s first fully battery-powered electric terminal tractor, YT200EV.

TTM Chief Executive Officer (CEO) Boo Wei Ching said YT200EV, which is manufactured locally at TTM’s manufacturing and assembly facility in Pasir Gudang, here, would be made available for distribution by early next month.

“With the new terminal tractors, TTM is looking at doubling up our product...

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International News 2022-11-29 15:18:01

Malaysia, Turkey, Indonesia among top 20 halal economy exporters

ISTANBUL, Nov 29 — Turkey is one of only three member states of the Organisation of Islamic Cooperation (OIC) that are among the world’s top 20 halal economy exporters, according to a report released Tuesday by the intergovernmental organization.

Indonesia and Malaysia are the other two nations in the 57-member Muslim bloc that are in this category, said the 2022 Annual OIC Halal Economy Report.

The report was launched in Istanbul on the sidelines of the four-day 38th meeting of the Standing Committee for Economic and Commercial Cooperation, reported Anadolu...

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International News 2022-11-22 07:38:53

Singapore-based FTX investors could not be protected as crashed crypto exchange not licensed here, operated offshore: MAS

SINGAPORE — The Monetary Authority of Singapore (MAS) said on Monday (Nov 21) that it could not protect local investors from suffering losses on cryptocurrency exchange FTX, which crashed earlier this month, as the platform is not licensed here and was run offshore.

MAS said this meant that investors could not be protected from financial losses by steps such as the ring-fencing of assets or ensuring that the platform had backed its assets with reserves.

The regulator also again warned investors of the dangers of investing in cryptocurrencies as it had done rep...

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International News 2022-11-22 07:33:58

Ringgit opens marginally higher versus greenback

KUALA LUMPUR, Nov 22 — The ringgit opened marginally higher against the US dollar on renewed buying interest despite China’s further Covid-19 restrictions as well as uncertainty on the hung Parliament and government formation in Malaysia, said an analyst.

At 9 am, the local note rose to 4.5745/5830 against the greenback from yesterday's close of 4.5770/5850.

SPI Asset Management managing director Stephen Innes said the US dollar was charging again after last week’s retreat against the backdrop of weaker sentiment due to China’s rising Covid-19...

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International News 2022-11-22 07:30:11

Pos Malaysia continues to struggle against growing competition

KUALA LUMPUR: Pos Malaysia Bhd's recovery prospects remain uncertain amid intense industry competition, as reflected by another loss-making quarter of operations.

The postal service provider reported a core net loss of RM43.5mil in 3QFY22, which brought 9MFY22 net loss to RM73.5mil.

According to Hong Leong Investment Bank (HLIB) Research, the results were below its and market expectations.

"Although PosM has plans to mitigate the impact of falling parcel volumes by improving overall parcel yield, and reducing transport costs via productivity impro...

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International News 2022-11-20 07:38:42

My Southeast Asia Ventures: I’m an F&B blogger and consultant in Vietnam. Sometimes, you need to bend the rules to get things done

Southeast Asia might not be many young Singaporeans’ first choice as a destination for work or study, but some have taken a leap of faith and ventured into the region. TODAY’s Voices section is publishing first-hand accounts of those who have spent time in Singapore’s closest neighbours for a variety of meaningful pursuits.

In this instalment, Ms Jovel Chan, 29, who runs a food and beverage (F&B) consultancy in Vietnam, describes the challenges she faced navigating the business and legal landscape there, including the need to make decis...

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International News 2022-10-30 14:11:14

The Big Read: Defying doubters, S'pore built a flourishing startup scene within a decade. Can it take the next step up?

SINGAPORE — It was not too long ago that detractors were pouring cold water on Singapore's efforts to nurture entrepreneurs and startups.  

For example, a 2012 Reuters' article headlined “Failure to launch: Singapore start-ups struggle to woo investors”, talked about how the Republic's push "to become a hotbed for entrepreneurs is stuck at stage one" and only 2 per cent of the total venture capital investment in Asia were flowing into Singapore.
 

A 2015 report by technology media Tech in Asia noted that in 20...

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International News 2022-10-30 13:55:48

Changi Airport's passenger traffic reaches 58.1% of pre-COVID levels in 3rd quarter 2022

SINGAPORE: Singapore's Changi Airport handled 10 million passengers in the third quarter of the year, reaching 58.1 per cent of its pre-COVID traffic, Changi Airport Group (CAG) said on Saturday (Oct 29).

In a news release, the group added that passenger movements for its largest source market, Southeast Asia, exceeded 60 per cent of pre-pandemic levels for the first time since the onset of COVID-19.

It also saw 61,100 aircraft movements, or 63.7 per cent of its pre-pandemic levels, during the quarter. This number includes takeoffs and landin...

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International News 2022-10-30 13:48:42

Kedah caretaker govt approves special assistance of RM1,500 for state civil servants

ALOR SETAR - The caretaker Kedah government has agreed to provide special financial assistance of RM1,500 for each state civil servant and state administration member in appreciation of their contributions and sacrifices.

Caretaker Kedah Mentri Besar Datuk Seri Muhammad Sanusi Md Nor when tabling the state’s Budget 2023 at the State Legislative Assembly (DUN) here today said the special financial assistance involves an allocation of RM8 million and that it would be paid out in December.

“The state government is very grateful for the unwavering dedication...

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