MARKET UPDATES :
- SINGAPORE households earned an average of S$10,500 a month in 2012/2013, more than the S$8,110 they pulled in five years ago while their spending on goods and services also clicked higher to S$4,720 from S$3,810 over the same period.These findings were released by Singapore’s Department of Statistics’ report on household expenditure based on a survey conducted from October 2012 to September 2013.Average monthly household income from all sources rose 5.3 per cent a year in nominal terms between 2007/08 and 2012/13. Across all income groups, households saw their income grow; those in the lowest to middle income quintiles saw income increase by 6.1 to 6.6 per cent per annum and faster than the income growth of households in the top two quintiles.
- FRASERS Centrepoint Ltd’s S$600 million debut perpetual issue, the largest perpetual deal this year has been snapped up, said DBS Bank on Thursday.The hot demand led to the NC-5 perpetual bonds being priced at 4.88 per cent, lower than the initial guidance of 5.00 per cenNC-5 means the bonds cannot be redeemed by the issuer until the fifth year, or Sept 24, 201 Orders were in excess of S$3.5 billion, said DBS.
- SINGAPORE has become the only developed economy to make it onto the Milken Institute’s top 10 list of Asia’s Best- Performing Cities, coming in at eighth place.This index of 24 cities, the institute’s first, is based on economic measures such as the growth of jobs, incomes and high value-added industries such as manufacturing and financial services.”Singapore exhibits how to transition from a low-cost location to an open international economy based on human capital, research and innovation capacities,” the report said.Shenzhen took pole position in the index, followed by Guangzhou, Chengdu and Tianjin, which rounded out the top four. Delhi and Kuala Lumpur were fifth and sixth, respectively. Beijing came in seventh, while Ho Chi Minh City and Shanghai brought up the rear in their respective ninth and 10th spots.
- THE average monthly household income in Singapore has gone up across the board, a new government survey has found. According to the latest Household Expenditure Survey (HES), the average monthly household income from all sources was S$10,500, up from S$8,110 in the previous survey five years ago. This is an increase of 5.3 per cent per annum in nominal terms and outpaced inflation, which averaged 3.1 per cent in 2013.This survey is done every five years by the Department of Statistics (DOS). For the latest report, field interviews were conducted with 8,575 Singaporean and permanent resident households from October 2012 to September 2013.
- METAL Component Engineering (MCE) has signed a non-binding Memorandum of Understanding (MOU) with Hangzhou Honghua Digital Technology Stock Co Ltd (Atexco) to develop a new digital textile printer.The Catalist-listed company is hoping the MOU with Atexco, which designs and makes the Vega range of digital textile printers, as well as a range of carpet and graphic printers, will propel it to become a key player in the fast-changing digital textile printing industry.”This collaboration elevates MCE from a traditional precision engineering firm to a company capable of co-developing products and the assembly of highly complex electro-mechanical products,” Chua Kheng Choon, chairman and CEO of MCE, said.
- Singapore eDevelopment (SeD) has raised S$40.6 million in net proceeds from a rights issue which drew a subscription of 94.85 per cent.Some 53 per cent or 7.8 billion rights shares and 6.2 billion of excess rights shares or 42 per cent were subscribed for under SeD’s 12-for-one rights issue and one bonus share for every rights share. The total of 14 billion rights shares represent 94.9 of total rights shares that were available for subscription.
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