Asian economies holding up: Merrill Lynch

Asian economies holding up: Merrill Lynch 
 
ASIA’S strong economic growth will persist despite an ailing US economy as the region diversifies its export markets and a new breed of young and wealthy citizens drive consumption, investment bank Merrill Lynch said on Wednesday.
Inflation is a bigger risk to the region than a slowdown induced by [...]

Tax rebate won’t stem US recession: Merrill

Tax rebate won’t stem US recession: Merrill
 
The US economy is in a recession and stimulus from a government tax rebate later this quarter will only temporarily stem a fall in consumer spending, a Merrill Lynch economist said on Wednesday
 
US households will get tax rebates next month as part of a US$152 billion stimulus package passed [...]

City Developments posts 31% rise in Q1 net profit to S$165m

City Developments posts 31% rise in Q1 net profit to S$165m
 
SINGAPORE : Property developer City Developments has reported a 31 percent rise in first-quarter earnings to S$165 million.
 
The results came at the lower end of expectations. Revenue fell 1.3 percent to about S$759 million.
 
The Singapore property market cooled substantially in the first quarter [...]

HLA Q1 net proft up 38%; sales surpass $1 bln

HLA Q1 net proft up 38%; sales surpass $1 bln
 
Hong Leong Asia on Wednesday reported net profit for the first quarter ended March 31, 2008 rose 38 per cent to $30.16 million due to higher sales in China.
 
Revenue grew 34 per cent to surpass the billion dollar mark, at $1.05 billion.
 
The group is positive [...]

UOL Q1 net profit falls 44%; outlook cautiously optimistic

UOL Q1 net profit falls 44%; outlook cautiously optimistic
 
UOL Group Ltd on Wednesday reported net profit for the first quarter ended March 31, 2008 fell 44 per cent to $42.85 million, leaving the property and hotel group cautiously optimistic in its outlook.
 
Revenue rose 11 per cent to $161.72 million.
 
The increase in revenue came largely from [...]

CityDev Q1 net profit up 31%; more profits to be recognized

CityDev Q1 net profit up 31%; more profits to be recognized
 
Property developer City Developments Ltd said net profit for the first quarter ended March 31, 2008 rose 30.8 per cent to $164.97 million due to strong property development segment.
 
Basic earnings per share rose to 18.1 cents versus 13.9 cents a year ago – an increase [...]

US home foreclosures hit fresh high in April: survey

US home foreclosures hit fresh high in April: survey
 
WASHINGTON – In a further sign of the still-troubled US housing market, a survey on Wednesday showed home foreclosure actions hit a fresh all-time high in April of 243,353.
 
The survey by the research firm RealtyTrac said the percentage of foreclosure actions – including default, auction sale notices [...]

SC Global Q1 profit rises 75% to $19.2 million

SC Global Q1 profit rises 75% to $19.2 million
 
By ARTHUR SIM
 
 
SC GLOBAL Developments has reported profit after tax and minority interest (Patmi) of $19.2 million for the first quarter ended March 31 – an increase of 75 per cent over $10.9 million a year earlier.
 
 
Gross profit increased 22 per cent year- on-year. SC Global said [...]

HSBC economist tips inflation at 6% this year

HSBC economist tips inflation at 6% this year
 
By Alvin Foo
 
INFLATION is set to peak in the coming months before falling to 4 per cent by the end of the year, said HSBC Bank economist Robert Prior-Wandesforde yesterday.
 
However, he expects overall inflation for the year to average 6 per cent because of higher oil [...]

HPL’s Q1 profit jumps 76.2% to $20.5m

HPL’s Q1 profit jumps 76.2% to $20.5m
 
By KALPANA RASHIWALA
 
HOTEL Properties Ltd (HPL), controlled by businessman Ong Beng Seng, yesterday posted a 76.2 per cent year-on-year increase in first-quarter group net earnings to $20.5 million.
 
Revenue rose 40.6 per cent to $146.1 million. The group said its hotels and resorts in Singapore, Maldives and Bali have generally [...]