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Local companies are poised to bid for large cross-border projects that require considerable investments, after the Government unveiled plans to establish a specialised project finance company (PFC).
Analysts have applauded the move - which was unveiled in the Singapore Budget last week - saying that this expands local companies' opportunities in international markets.
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Indonesia's Lion Air is among the least-known major airlines in the world. But recent moves to expand its fleet are putting the company on the map—and drawing attention to the country's potential as a top growth market for aviation.
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Singapore's direct investment outflows rose 9.7 per cent to S$31.7 billion last year as domestic companies continued to expand overseas despite volatile economic conditions, according to data from the International Enterprise (IE) Singapore.
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Oversea-Chinese Banking Corp, South-east Asia's second-largest bank, said yesterday fourth-quarter net profit rose 18 per cent on-year to S$594 million, partly due to strong loan growth and higher trading income.
At a briefing yesterday, outgoing CEO David Conner said net trading income rebounded to S$163 million in the fourth quarter, from a loss of S$68 million in the previous quarter.
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While Filipinos generally cluck their tongues and shake their heads about the economy, employment, and growth prospects in general, foreign investors continue to set their sights on our country.
“We see an expanding interest in the ASEAN region, and mostly in the Philippines and Indonesia,” reports Adrian Mowat, leading global financial services firm J.P. Morgan’s Chief Emerging Market and Asian Equity Strategist. Here in the country recently to speak to the finance institution’s clients and investors, he revealed the company’s outlook on investing in the Philippines. “I have been bullish about the Philippines last year,” he says, “and I remain bullish about the country this 2012.”
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Mission NewEnergy (ASX: MBT) is moving into the Indonesian market, acquiring an 85% interest in Singapore-based company Oleovest Pte, which holds a 70% equity stake in a newly formed palm oil joint venture in Indonesia.
The acquisition offers a new strategic direction for Mission, which is a global provider of sustainable renewable energy.
Mission has been seeking an opportunity to diversify into a more established and rateable business, and sees this deal as key to that.
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The feedback on Singapore's Budget 2012 has been largely positive based on early input received by Government portal REACH, its chairman Amy Khor said.
Speaking to Channel NewsAsia on the sidelines of a community event yesterday, Dr Khor said that many welcomed the measures to help the needy and to enable companies to employ more Singaporeans.
According to Dr Khor, the most-hotly debated issue was the package of social assistance initiatives.
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There is more good news for the economy. Revenues have increased while the fiscal deficit in 2011 eased to 5 per cent of GDP, compared with 5.6 per cent in 2010.
The news comes a day after the announcement that Malaysia achieved 5.1 per cent gross domestic product expansion for 2011 despite the challenging external environment.
Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the reduced deficit exceeded the Government's expectations of bringing it down to 5.4 per cent as stated in Budget 2011.
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Singapore and Brunei pledged on Thursday to deepen cooperation in a range of areas, including defence, finance and people-to-people exchanges.
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