Singapore Financial News

Benchmark indices ended on a flat note in a lacklustre trade on Monday, as investors preferred to remain on the sidelines awaiting further triggers. In today's trade, shares of IndusInd Bank, Zomato, Saraswati Saree Depot, HCL Tech, Poly Medicure among others will be in focus due to various news developments. IndusInd Bank

Issue price: Rs 195-206

market regulator intends to expand the scope of its sustainable finance framework to include more products, a potential boost to ESG-labeled instruments in Asia. The Securities and Exchange Board of India will consult on introducing social bonds, along with sustainable and sustainability-linked bonds, to the current suite of environmental, social and governance debt. Plans also include adding eligible asset-backed securities and a requirement for independent external reviews of all ESG debt, according to a consultation paper released Friday.

Mint earlier reported about Macquarie Group, JSW Neo Energy, and Actis Llp signing NDAs to buy O2 Power. Barclays is running the sale process for the deal having an equity and enterprise value of around $1 billion and $2.3 billion respectively. The next stage involves shortlisting the NBOs to give selected bidders full data room access, after which the binding bids will be submitted.

Gita Gopinath said, while flagging concerns around the growing sentiment against de-globalisation and protectionism. She said countries are certainly becoming more selective about their trading partners. “In that sense, India is in a bit of a favoured position because for many countries, India is an attractive country to work with in terms of diversifying their trading partners… so that plays a beneficial role for India,” Gopinath told ET.

Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI), is facing allegations of a conflict of interest. Documents reviewed by Reuters show that Buch continued to earn revenue from Agora Advisory Pvt Ltd, a consultancy firm where she holds a 99% stake, during her tenure at SEBI. This situation raises questions about potential violations of SEBI’s 2008 policy, which prohibits officials from holding other professional positions that could lead to a conflict of interest.

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markets regulator, Madhabi Puri Buch, continued to earn revenue from a consultancy firm during her seven-year tenure, potentially breaching rules for regulatory officials, according to public documents reviewed by Reuters. Hindenburg Research has alleged a conflict of interest in Buch's investigations surrounding the Adani Group due to her previous investments. The allegations against the Gautam Adani-led conglomerate, made in January last year, triggered a big drop in the share prices of the flagship Adani Enterprises and other group firms which later recovered, prompting an ongoing investigation by the Securities and Exchange Board of India (SEBI).

markets regulator, Madhabi Puri Buch, continued to earn revenue from a consultancy firm during her seven-year tenure, potentially breaching rules for regulatory officials, according to public documents reviewed by Reuters. Hindenburg Research has alleged a conflict of interest in Buch's investigations surrounding the Adani Group due to her previous investments. The allegations against the Gautam Adani-led conglomerate, made in January last year, triggered a big drop in the share prices of the flagship Adani Enterprises and other group firms which later recovered, prompting an ongoing investigation by the Securities and Exchange Board of India (SEBI). Buch, in a statement on Aug. 11, denied allegations of a conflict of interest and termed them as an attempt at «character assassination».

Logistics firm Ecom Express has filed draft papers with the market regulator for an initial public issue of shares worth nearly Rs 2,600 crore. The offer will comprise fresh shares worth Rs 1,284 crore and another Rs 1,315 crore in an offer for sale (OFS) by existing investors, the company informed the Securities and Exchange Board of India in its draft red herring prospectus (DRHP). If it gets the regulatory approval and goes ahead with the IPO, Ecom Express will become the second new-age logistics firm focused on online deliveries to be listed on the Indian public bourses, after Delhivery that listed in May 2022.

Airtel and the sale of some capital assets by associate Globe Telecom. Singtel's net profit rose 42.9% to S$690 million in the first quarter ended June 30 from S$483 million a year ago, Southeast Asia's largest telecom provider said on Thursday. The exceptional gain came as Singtel reduced its effective stake in Airtel to 28.7% from 28.9%.

Grab Holdings missed second-quarter revenue estimates due to slower growth in its mainstay food-delivery business and foreign exchange headwinds, sending its U.S.-listed shares down 5% on Thursday. Growth has been slowing at the Southeast Asian tech company after the pandemic-era surge in food-delivery demand, with Grab laying off 11% of its workforce last year in a major restructuring aimed at narrowing losses. Sales from the deliveries business — its largest — grew 11% to $356 million, lower than Visible Alpha estimates of $362.1 million. That compares to growth of 19% in the first quarter, and a doubling of the business in certain quarters of 2023 and 2022.

Chinese EVs and Indian container shortage have in common? In one word, everything. With the US imposing a 100% anti-dumping duty on Chinese electric vehicles from August 1 and several countries in Europe planning to follow suit in September and October, the Chinese EV industry has been on production overdrive to ship as many vehicles as possible before the duty deadline. This pile up of inventory has clogged an already stretched logistics network. Siddharth Jairaj, CEO, TVS SCS global forwarding solutions said, “Because of the anti-dumping duties, China has been shipping out huge numbers of electric vehicles since April and May to beat the duty deadlines. So global nodal ports like Singapore and Colombo and clogged.” As containers are being diverted to cater to “Chinese inventory, the port congestion is spreading and has now hit India too,” he added.

Investment management firm Vanguard Group on Wednesday bought more than 11.4 million units in REIT firm Nexus Select Trust for ₹158 crore through open market transactions, while Morgan Stanley sold its stake in the company. Nexus Select Trust is India's first real estate investment trust (REIT) backed by retail properties.

Mint on Wednesday in response to a questionnaire. After Hindenburg's Mauritius claim, the island country's financial services regulator in a press statement on Tuesday denied the fund being registered there. “We wish to clarify that IPE Plus Fund and IPE Plus Fund 1 are not licensees of the FSC and are not domiciled in Mauritius," the Mauritius Financial Services Commission said in the statement.

International students in Singapore can now apply for permanent residency (PR) as soon as they pass at least one national exam, such as the PSLE or GCE ‘N’/’O’/’A’ levels. The Primary School Leaving Examination (PSLE) is an annual national exam taken by students at the end of their final year of primary school education in Singapore. The Singapore-Cambridge General Certificate of Education Advanced Level (GCE A-Level) exam can be taken not only by school students, but also other candidates. Prior to the current change, students had to wait for at least two years after course completion before applying for PR. Additionally, students enrolled in an integrated program are also eligible to apply.

MUMBAI : Retail and high net-worth individual (HNIs) investors have become a key bulwark for the Indian stock market in recent years. Latest data underscores their growing significance as a counterbalance to selling pressure from foreign institutional investors (FIIs) and “other" investor categories. This domestic buying spree has helped the Nifty outperform its Asian peers, such as Nikkei 225, South Korea's Kospi and Singapore's Straits Times Index, amid global market jitters.

IT firm Happiest Minds saw its banking financial services and insurance (BFSI) vertical’s contribution going up by 540 basis points, even as its US’ contribution coming down by 250 basis points in the just concluded quarter of this fiscal. One basis point is a hundredth of a percentage point. Acquisitions in the first quarter influenced both BFSI and US geography, said Executive Vice Chairman Joseph Anantharaju to ET on Tuesday. The IT firm, which announced its Q1 earnings Monday late night, acquired Aureus and PureSoftware in the first quarter of this fiscal. «Both these acquired firms are strong in financial services. While PureSoftware is focused more on banking and financial services, Aureus is on insurance», added Anantharaju.

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Hindenburg dropped a bomb last week accusing the chairperson of Secutiries and Exchange Bureau of India (Sebi) Madhabi Puri Buch and her husband of investing in offshore funds which was used by two Adani associates to round-trip funds and inflate stock prices. Amid the row, industrialist Harsh Goenka has a funny take on this. He shared a funny video showing how a man pretends to spike one's drink to manipulate the other person. Goenka wrote, «Understand in a simple way how Hindenburg works.»

Brainbees Solutions, which operates and owns FirstCry, jumped over 13% to Rs 707 following their strong debut on the exchanges on Tuesday. The stock debuted at Rs 625 on the BSE, reflecting a premium of Rs 160 or 34% over the IPO price of Rs 465. On the NSE, it is listed at Rs 651, reflecting a 40% premium. The listing was above expectations, with shares previously trading at a grey market premium (GMP) of 18% to the issue price.