MARKET UPDATES :
- SINGAPORE shares ended lower on Thursday with the Straits Times Index slipping 10.99 points to 3,406.58.Some 1.01 billion shares, valued at S$1.11 billion were traded. Gainers numbered 157 while losers numbered 243.
- Singapore sovereign wealth fund GIC has bought a 5 per cent stake in Nielsen NV, a leading provider of TV audience ratings data, for an undisclosed amount, according to a regulatory filing.GIC Private Ltd disclosed its holding of common stock in Nielsen, which has a market value of US$16.7 billion, in a US Securities and Exchange Commission filing dated Feb 4.Over the past year, GIC, ranked by the Sovereign Wealth Fund Institute as the world’s eighth-largest fund with $320 billion of assets, has taken a series of stakes in businesses in both emerging and developed markets.
- THIRD quarter earnings of Global Logistic Properties (GLP) fell 36.2 per cent, as revenue stayed largely flat and expenses rose.The logistics group recorded a net profit of US$112.4 million for the three months ended Dec 31, down from US$176.2 million a year ago.Over the same period, its revenue edged up 0.7 per cent to US$179 million, on the inclusion of one month’s revenue of its Brazil portfolio that was acquired in June 2014, and the completion of its development projects in China.But this was offset by deferred rental revenue in Airport City Development, the sale of 11 properties in Japan to GLP J-Reit, and a weaker Japanese yen against the US dollar.
- SINGAPORE Post’s (SingPost) aggressive push into the logistics and e-commerce space appears to be paying off as the company registers increased earnings despite lower contributions from its traditional mailing business. In Q3 FY14/15, for the three months ended Dec 31, 2014, the courier service provider registered a net profit of S$42.23 million, 7.3 per cent higher than the corresponding period in the previous year.
- STANDARD Chartered Bank Singapore and SingPost on Thursday said that their Standard Chartered SingPost Platinum Visa Credit Card will now offer 7 per cent cashback on online purchases. This is the highest cashback rate offered in Singapore for online shopping, the partners said in a joint media statement.The cashback is capped at S$50 per month, and is subject to a minimum card spend of S$500 in that month.And if the cardholder buys a product online, and finds the same item to be cheaper off another website within 30 days, the bank will refund half of the price difference to the card user.
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