Govt-linked loss-making Tigerair shrinks it business further with the dropping of it's Perth route

Australian Aviation, 13 Oct 2014
Perth has lost a second carrier on the Singapore route with Tigerair Singapore to drop service to the West Australian capital in early February 2015 as part of the low-cost carrier’s network review.
A Tigerair Singapore spokesperson said decision to end service to Perth was made after careful consideration and confirmed the last flight to depart Perth for the city-state would be TR2717 on February 7 2015.
“The suspension of the Perth route is part of Tigerair’s network review process and is in line with our route rationalisation strategy,” the spokesperson said in an emailed statement on Monday.
Perth was one of three destinations Tigerair Singapore was stopping services to, with the low-cost carrier dropping flights to Bandung, Indonesia, at the end of October and ending its Singapore-Phnom Penh route on November 11. Full story

SPH-owned Paragon's attempt to get free creative pitch from advertising agencies described as a 'farce' by key industry players

Mumbrella Asia, 22 Sep 2014
Paragon, which is owned by Singapore Press Holdings and located on the citystate’s shopping district of Orchard Road, sent out a creative tender for branding and promotions work that tasks agencies to send in ten pieces of creative by the middle of next month for no pitch fee.
The tender stipulates that Paragon, which houses luxury brand stores such as Gucci, Prada and Salvatore Ferragamo, “is not bound to accept the lowest tender, and the project may be awarded in whole or in part.” There will be no retainer fees for the winning agency.
One agency invited to pitch described the tender as a “farce” and will not be participating.
The agency’s boss, who wanted to remain anonymous, told Mumbrella: “I can’t imagine how any self-respecting agency would decide to do this pitch. It’s a farce.”
“The amount of work they demand for an unpaid pitch, a “shortlist” that reads like the 4As agency listing, and a miniscule budget on the back of a “we’re not unhappy with our current agency, we need to do this for audit purposes” statement – and an agency is supposed to want to do this?” Full story

Singapore Airlines profit down 60%, sees no business recovery

MarketWatch, 8 May 2014
Singapore Airlines Ltd. Thursday said its fiscal fourth-quarter net profit fell 60% as the flag carrier continued to battle stiff competition that is forcing it to discount fares.
Net profit in the three months ended March 31 fell to 27 million Singapore dollars (US$21.6 million), compared with S$68.3 million a year earlier. It was the second consecutive quarter of declining net profit.
"The operating environment for the Group continues to be challenging with intense competition in many areas, and economic uncertainty in key markets," Singapore Airlines said. Full story

Related:

1. Singapore Airlines hit by Q4 operating loss, sees no business recovery - The Economic Times
2. Singapore Airlines hit by Q4 operating loss, sees no business recovery - Reuters

SMRT's stock price surged after it sought the PAP government to take over it's aging assets with taxpayers' money

Reuters India, 25 Apr 2014
Singapore's SMRT Corp Ltd , the operator of the city-state's main rail network, asked the government on Wednesday about a financing framework which would reduce its capital expenditure, The Straits Times reported.
SMRT has previously expressed interest in changing to a financing framework that was introduced by the government in 2010. Under this system, the government would own the assets, and be responsible for replacing them. This would free SMRT from having to incur huge capital expenditures on asset replacement. Full story

Loss-making Tigerair mulls pulling out of Indonesia as it's gamble on Mandala flops badly

The Star Online, 4 Mar 2013
Singapore’s Tiger Airways Holdings Ltd may be forced out of Indonesia, South-East Asia’s biggest domestic airline market, as its unprofitable joint venture is squeezed out of routes dominated by big-spending local carriers.
Tiger might sell or close Tigerair Mandala in the absence of any signs of the airline turning around this year, such as a significant reduction of losses, people familiar with the matter told Reuters.
Tiger has been streamlining its business to prevent a third straight year of loss, with its latest move being the January sale of Tigerair Philippines in a market where a sharp increase in available seats pushed down ticket prices. Full story

Senior Judicial Magistrate sues Singapore Airlines over missing luggage

The Daily Star, 9 Feb 2014
A Bangladeshi woman has sued Singapore Airlines, Biman Bangladesh Airlines and Civil Aviation Authority, Bangladesh after failing to get her luggage she claimed contained goods worth Tk 8.06 lakh in the capital's Hazrat Shahjalal International Airport.
Senior Judicial Magistrate Kaniz Fatema arrived from Australia on December 26, 2013 on a Singapore Airlines plane to find one of her five luggage missing. Full story

SMRT depending on it's sweet deal with NTUC Fairprice at Sports Hub to turn around souring profits - analyst

Singapore Business Review, 30 Jan 2014
SMRT Corp posted another weak quarter, with 3QFY14 PATAMI falling 44.1% yoy to S$14.2m on the back of spiraling higher staff costs.
But the expected commencement of operations of the Singapore Sports Hub in the next few months "will be a bright spot" for the company, according to OSK-DMG, "as it will reduce the group's reliance on the lackluster transportation business in Singapore."

"Sportshub the first step towards diversifying. The Singapore Sports Hub is expected to commence operation in the next few months. We believe that the 41,000 sq m operation, jointly run by MRT and National Trades Union Congress (NTUC) Fairprice, will be a bright spot for MRT, as it will reduce the group’s reliance on the lackluster land transportation business in Singapore."

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Tigerair posted worst ever loss in Q4 2013

Crikey.com, 24 Jan 2014
Tiger Airways Holdings Limited (“Tigerair”) has reported a loss after tax of $118.5 million, including $88.3 million in exceptional charges, for the quarter ended 31 December 2013 (3QFY14), compared to a profit after tax of $2.0 million recorded in the previous corresponding quarter (3QFY13).
The exceptional charges consist of a $30.3 million loss on the planned disposal of Tigerair Philippines and an impairment of associates of $58.0 million in the quarter. The Group also recorded $23.1m as its share of losses of associates.
At the operating level, total revenue declined by 30.5% to $172.1 million in 3QFY14, while total expenses fell 21.3% to $180.9 million year-on-year. Full story

SingTel says first quarter net profit up 7.0 percent

Yahoo! Finance Singapore, 14 Aug 2013
Singapore Telecom said Wednesday its net profit climbed 7.0 percent in the fiscal first quarter from the previous year on stronger contributions from regional associates and lower costs.
Net profit in the three months ended June was Sg$1.01 billion ($797 million), up from Sg$945 million in the same period last year, Southeast Asia's biggest telecom firm by revenue said in a statement to the Singapore Exchange.
Group revenue fell 5.3 percent to Sg$4.3 billion, SingTel said, adding that this reflected a more cautious business environment and a slowdown in the mobile market in Australia, where its wholly-owned subsidiary Optus operates. Full story

Related:

1. SingTel’s Profit Beats Estimates on Cost Cuts - BusinessWeek
2. SingTel to keep Optus satellite operations - Total Telecom

Tigerair in talks to buy stake in struggling SpiceJet

Hindustan Times, 6 Aug 2013
According to sources, SpiceJet promoter and media baron Kalanithi Maran may offload up to 24% to Tigerair as the airline faces fall in profits and attempts to retire debt, the sources familiar with the development said.
The Chennai-based airline reported a 10% fall in its net profit in the June quarter.
Tigerair had early this year said it was looking for a partner to invest in the country.
"We are studying about having an inter-airline agreement or a strategic partnership with (an) Indian Airline," Tigerair commercial director Kaneswaran Avili had reportedly said in March. Full story

Related:

1. SpiceJet in talks with Tigerair for stake sale - The Hindu Business Line
2. SpiceJet in talks with Singapore's Tigerair for stake sale - The Times Of India

SGX gunning for derivatives to fuel growth as M&A dream vanishes

Bloomberg, 4 Aug 2013
Singapore Exchange Ltd. (SGX), Southeast Asia’s biggest bourse, is relying on derivatives for growth amid a dearth of merger and acquisition candidates in Asia.
SGX is planning energy and bond futures, Chief Executive Officer Magnus Bocker said. The bourse’s revenue from derivatives climbed 50 percent to S$234.5 million ($183.7 million) in the five years through June 2013, outpacing the 4.4 percent increase in equity trading to S$469.50 million, according to data compiled by Bloomberg. Full story

Related:
Singapore bourse grows derivatives - Business Times Malaysia

Starhub Pay TV Customers To Pay More From Changes In Packages

4-Traders.com, 12 Jul 2013
With an offering of over 200 channels, StarHub will be streamlining its pay TV packages to simplify its proposition for customers with effect from 1 September 2013. This will be done by merging the Basic Groups and Basic Upsize groups to form the newly enhanced Basic Tier. Accordingly, Basic Tier will become the entry-level group for price plan subscriptions and will adopt the same pricing structure as the current Basic Groups with Basic Upsize.
"With our constant efforts in enhancing our content line-up, the majority of our customers have opted to add the Basic Upsize to their Basic Groups. Hence, instead of drawing a distinction between our Basic and Basic Upsize groups, we decided to consolidate the two groups to simplify our proposition for customers," said Ms Lin Shu Fen, Head of Home Solutions, StarHub.
Ms Lin elaborated, "We are aware that a minority of our customers will experience an adjustment in their subscription plan as a result of this exercise. Customers can rest assured that we have prepared alternative options to help them manage this transition and that we will be in touch with them." Full story

SPH Reit to kick off Singapore IPO of up to $393 million today

Finance Asia, 10 Jul 2013
SPH Reit, the real estate investment trust that is sponsored by Singapore Press Holdings, has decided to go ahead and launch the institutional bookbuilding for its Singapore initial public offering today. The issuer had initially been expected to kick off the roadshow on June 20, but chose to hold off on the deal after it finished pre-marketing due to the volatile market environment.
SPH Reit is seeking to raise between S$475.9 million and S$503.9 million ($371 million to $393 million) from the base deal, which will account for 22.4% of the trust. Full story

Changi Airport Executives Helping Moscow In Sochi Airport After Joining Forces With Russian Billionaire

The Moscow Time, 3 Jul 2013
A squad of managers from Singapore is bringing about changes, like increasing the stock of luggage carts, at the airport that will handle throngs of international fans during the Olympics in February.
They are a task force with a mandate to increase comfort at the Sochi Airport, traveling to Russia from time to time on assignment from Changi Airports International after the Singapore-based company joined forces with billionaire Oleg Deripaska. Full story

Tiger Airways rebranded as Tigerair to restore consumer confidence

Mumbrella.com.au, 3 Jul 2013
Low cost operator Tiger Airways has this morning unveiled a major rebranding of the airline as Tigerair.
The name change is part of a global rebranding by the airline’s Singaporean parent company Tiger Holdings and comes just days before it finalises a joint venture with Virgin.
The move also follows last year’s grounding of the airline which saw the brand receive significant amounts of negative media attention after the Civil Aviation Safety Authority declared it had “lost confidence” in the cost-cutting airline.
At a press conference in Victoria this morning Tigerair CEO Rob Sharp conceded the airline would have a fight to restore consumer confidence. Full story

DBS not interested in Danamon deal if only allowed 40 percent stake

Reuters, 12 Jun 2013
(Reuters) - DBS Group Holdings Ltd may review its planned acquisition of a stake in Indonesia's PT Bank Danamon if the Singapore lender is allowed to buy only a 40 percent share, DBS's chairman told Singapore's Business Times newspaper.
"At 40 percent, the economics will be challenging as it will not allow us to integrate with our existing business in Indonesia," DBS Chairman Peter Seah was quoted as saying. "It will require a review of the economics of the transaction." Full story

Related:
DBS Chairman: Still Seeking Temasek's Entire Bank Danamon Stake -Report - 4-traders

Did SingTel let slip plan to hike mobile broadband data charge by 100 percent?

Yahoo! News Singapore, 11 Jun 2013
Singapore Telecom (SingTel) apologised Monday for incorrectly announcing that the excess data rate for Broadband on Mobile plans would be doubled from July 2013.
This was after an article appeared on HardwareZone.com showing a screenshot of SingTel’s relevant FAQ section announcing that the rate would be hiked to $10.70 per gigabyte with a cap of $188 a month with effect from July 2013 from the “promo” rate of $5.35 per gigabyte.
The supposed data charge hike and sparked confusion and outrage among internet users. Full story

Related:
SingTel Revising Excess Data Charges for BroadBand on Mobile Plans from July - Hardwarezone.com.sg

SIA-owned Scoot's 'visual flight' marketing campaign turns out to be a big flop

Campaign Asia, 5 Jun 2013
Scoot's failture to get contest partiipants boarded on its 'virtual flight' to Sydney due to technical problems has turned its latest marketing campaign into a source of frustration and ridicle. Full story

Singapore government shows interest in Uttar Pradesh's infrastructure projects

The Economic Times, 1 Jun 2013
A delegation comprising business leaders and government officials from Singapore has evinced interest in investing in upcoming infrastructure projects in Uttar Pradesh.
A team of key officials of International Enterprise Singapore (IES) and Changi Airport Group met Special Secretary Industrial Development K R Sharma here yesterday, according to an official release.
The Singapore delegation comprised of centre director of IES in Mumbai, Wong Ken Mun, and centre director of IES in Delhi Amita Mehta along with Phau senior manager of Changi Airport Group of Singapore Hui Hoon. Full story

Related:
Singapore team expresses interest in infrastructure projects - The Times Of India

Singapore Airlines Airbus A380 encountered severe air turbulence injuring 7 passengers

The Aviation Herald, 28 May 2013

A Singapore Airlines Airbus A380-800, registration 9V-SKH performing flight SQ-308 from Singapore (Singapore) to London Heathrow,EN (UK), was enroute about 90 minutes into the flight at around 02:30Z, breakfast was just being served, when the aircraft encountered severe clear air turbulence resulting in an altitude deviation of about 100 feet and all loose items becoming airborne. The aircraft continued the flight to London for a safe landing about 13 hours after departure. 7 people received minor injuries during the turbulence encounter. Full story