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Daily Bulletin | 05 February 2010
Singapore Daily Bulletin – 05/02/10
StarHub’s 4Q09 Profit Slides 15% The operator’s 4Q profitability was dented by a 20.2% increase in cost of sales to $230.3m as a result of higher equipment and services costs. Sales rose across 3 out of StarHub’s 4 business segments in 4Q, with its broadband unit being the lone exception as consumers continue to opt for lower-end plans and subscription discounts. Looking ahead to the rest of the 2010, the company said it expects to grow its FY10 operating revenue in the low single-digit range. SATS’ 3Q Profit Up 42% On Increased SFI Contribution Sembcorp Marine Unveils Plans To Build New Shipyard In Brazil Engineering design for the new shipyard has commenced, with development and construction works to be undertaken in stages. It is believed that marketing for the yard’s services has already begun as the company scrambles to get a slice of Petrobras’ 5-year investment budget of US$174.4b from 2009 to 2013 which it announced last year. Work on topside modules, for example, can be done concurrently as the yard is being built. SMEs’ Business Confidence Turns Positive In 4Q: HSBC Survey About 300 local SMEs with less than US$30m in annual turnover were polled. 39% of the respondents said that they expect growth in GDP, compared to only 16% who said so in 2Q. The proportion of local SMEs that plan to increase capital expenditure is up 8 percentage points to 30%. About 17% said that they plan to hire, up from 9% in 2Q last year. The trend in Singapore is largely in line with sentiment in the region. When taken as a whole, SMEs in Asia scored 122 on the HSBC monitor, up from 107.
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