Editorial « Authors « TR EMERITUS

MAS disputes Moody’s downgrade of local banks

In response to Moody's downgrading the outlook for 3 local banks - DBS, OCBC and UOB - from "stable" to "negative" (Moody's downgrades outlook for 3 local banks to 'negative'), the Monetary Authority of Singapore (MAS) has come out today (16 Jul) to strongly defend them. MAS said the Singapore banks are not at risk. "The 3 home-grown...

Moody’s downgrades outlook for 3 local banks to ‘negative’

Singapore International credit rating agency Moody's has downgraded the outlook for three Singapore banks - DBS, OCBC and UOB - to "negative" from "stable" for the next 12-18 months. This has come in the wake of rising property prices and mounting household debt in the city-state. Moody's report yesterday (15 Jul) ('Singapore...

SPH’s 3Q revenue for newspaper & magazine business drops 3.3%

Singapore Press Holdings (SPH) posted an 80.7% jump in 3rd-quarter (3Q) earnings yesterday (15 Jul) with its 3-month net profit jumping to $187.5 million from $103.8 million a year ago on year-to-year basis. However, this is largely due to a one-off gain arising from a change in accounting recognition of its investment properties...