ComfortDelGro Taxi is set to halve taxi rental fees for the month of June as Singapore commences Phase 1 of its reopening plan. 

While cabbies are set to enjoy rental waivers from S$45 (RM138.19) to S$86 depending on the make, model and age of their taxis, this move is expected to push the company even further into the red for the financial year ending Dec 31, 2020 (FY20).

ComfortDelGro Taxi to halve taxi rental in June after two months of full rental waivers

ComfortDelGro posted earnings of S$36 million (RM110.2 million) for the first quarter ended March 31, 2020 (1QFY20), some 48.9% lower than earnings of S$70.4 million a year ago. 

The decline came on the back of a 9% slide in revenue to S$862.4 million from S$947.3 million last year as all business segments booked declines due to the Covid-19 pandemic.

ComfortDelGro 1Q earnings dive 49% to S$36m, lockdowns to 'significantly hurt' 1H business

Amid the Covid-19 pandemic, semiconductor and equipment companies have been deemed “critical” in many countries. 

Maybank Kim Eng Research analyst Lai Gene Lih said that this means the odds of further virus-induced disruptions to stocks such as UMS Holdings and AEM Holdings are unlikely.

Robust outlook, limited Covid-19 disruptions for semiconductor stocks — Maybank

SINGAPORE (May 13): Thus far, integrated resort and casino operator Genting Singapore (GENS) has benefited from Singapore’s status as a tourist hub. But with the Covid-19 outbreak stalling travel and hospitality industries, the company is now facing headwinds.

Genting Singapore's 1Q earnings tumble 55% to S$149 mil as Covid-19 impact turns 'devastating'

Although the Singapore government has begun easing some restrictions, Morgan Stanley has cautioned that the republic could be among the last to recover to pre-Covid-19 gross domestic product (GDP) levels.

While China will arguably lead the pack with a recovery by the third quarter of 2020 (3Q20), economist Deyi Tan said export-oriented economies such as Singapore, Thailand and Malaysia are likely to take until 1Q21 to recover.

Singapore to be among last in region to return to pre-virus GDP levels — Morgan Stanley

SINGAPORE (May 8): Developer Far East Orchard saw its earnings plunge 73.5% to S$0.9 million for 1QFY2020 ended March, from S$3.4 million last year. 

Apart from currency translation losses of S$11.2 million due to the weakening of Australian Dollar against the Singapore Dollar, the group highlights the adverse impact of the Covid-19 pandemic on its operations.

Far East Orchard's 1Q earnings dive 74% to S$0.9 mil as hospitality business takes hit from Covid-19

In the war of Covid-19, there are only a few winners. Singapore Post (SingPost) appears to be one of them.

The group booked earnings of S$7.2 million (RM22.04 million) for the fourth quarter ended March 31, 2020 (4QFY19-20), a reversal from losses of S$75.1 million for the corresponding period of the previous year.

SingPost reverses out of the red in 4Q, prepares to capitalise on Covid-19 'opportunities'

SINGAPORE (May 6): StarHub is withdrawing its financial guidance for the year, after reporting earnings of S$40.2 million for 1QFY2020 ended March, some 25.7% lower than earnings of S$54 million a year ago.

StarHub withdraws all guidance for 2020 as 1Q earnings tumble 26% to S$40.2 mil

SINGAPORE (April 30): Airline gateway services and food solutions provider SATS is expecting to record a “material decline” in profit for 4QFY2019-20 ended March as the Covid-19 pandemic continues to stall air travel. 

In a regulatory filing on Thursday, the group says it is now expecting its 4Q profits to plunge by approximately 60% to 70% compared to last year. This will correspondingly result in a reduction of up to 25% for the group’s full-year results.

SATS braces for 60%-70% plunge in 4Q profits as Covid-19 storm stalls global air travel

SINGAPORE (April 27): Singapore Press Holdings (SPH) today announced it has entered into a sale and purchase agreement to divest its wholly-owned subsidiary Buzz Shop to Thai-Pore Enterprise, as part of its review of investments and businesses to maximise shareholder value. 

Thai-Pore Enterprise, a leading distributor and marketers of premium alcohol, is headquartered in Singapore and owns warehouses in multiple markets in Asean. Among other things, the company carries beers, wines, spirits and spring water Waiz from New Zealand.

SPH hands over reins of local convenience store Buzz in bid to maximise shareholder value

The government will continue to monitor the impact on inflation in the country following the announcement of a more than 13% increase in civil servants' salaries this December.

Anwar: Putrajaya will keep eye on inflation rate following civil service pay hike

US private payrolls increased more than expected in April, suggesting that the labor market maintained its momentum early in the second quarter.

US private payrolls beat expectations in April 

Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets.

KFC parent Yum reports surprise drop in global same-store sales on weak demand

Shell has exited China's power markets as part of CEO Wael Sawan's drive to focus on more profitable operations including its natural gas and oil businesses.

Shell exits China power market businesses

The retail price of RON97 petrol remains unchanged at RM3.47 per litre, with RON95 also unchanged at RM2.05 per litre, from May 2 to May 8, according to the Ministry of Finance on Wednesday.

Fuel prices unchanged till May 8

The dollar edged towards its highest level this year against a basket of peers and US share futures dipped on Wednesday ahead of a Federal Reserve policy decision, though trading was thin with many European and Asian markets closed.

Dollar near five-month highs ahead of Fed policy decision

Bitcoin slid by almost 6% on Wednesday, having posted its worst monthly performance in April since late 2022, as investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later.

Crypto washout sends bitcoin below US$58,000 into bear market

Prime Minister Datuk Seri Anwar Ibrahim has emphasised that any party associating him and the government with a purported casino project in Forest City must face legal action.

Those who spread lies on Forest City casino project ought to be jailed, says PM

Details regarding the salary increase for civil servants will be announced during the tabling of Budget 2025 in October this year.

Details of civil servants’ wage hike to be announced in Budget 2025, says Fahmi 

China's Huawei Technologies has moved the high-profile chief of its consumer business, Yu Chengdong, to a new role as chair of the unit, two people with knowledge of the matter said.

Huawei's high-profile consumer CEO Richard Yu shifts role

Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets.

The government will continue to monitor the impact on inflation in the country following the announcement of a more than 13% increase in civil servants' salaries this December.

US private payrolls increased more than expected in April, suggesting that the labor market maintained its momentum early in the second quarter.

Uma Devi

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

Uma Devi

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌