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Daily Briefing: Singapore amongst cities with improving mobility; Will job cuts resolve SIA's losses?
And SGX faces three big risks.
From PropertyGuru via Yahoo!: Singapore has been named among 10 cities in Asia Pacific implementing big plans to improve urban mobility, according to a report launched by the Urban Land Institute (ULI) and Centre for Liveable Cities (CLC). The other cities on the list are Seoul, Shanghai, Suwon, Taipei, Tokyo, Bandung, Ho Chi Minh City, Sydney and Yangon. The report noted that Singapore’s growing population which now stands at 5.6 million and limited land has led to more space-efficient modes of transportation. For instance, more incentives have been introduced for people to use public transport and embrace new forms of transportation such as personal mobility devices (PMDs).
From Shares Investment via Yahoo!: Even with such a stellar performance from Scoot and Tiger, SIA still reported a $138m loss for the fourth quarter, a clear indication that SIA’s management should make some reforms in the company. SIA’s CEO Goh Choon Phong haven’t mentioned a specific number of jobs yet, though. Of course, SIA is not the only premium carrier facing problems in the disrupted airline landscape. Hong Kong rival Cathay Pacific Airways Limited reportedly cut 600 jobs “as part of the biggest business revamp in two decades as it slipped into a loss for the first time in eight years.”
From The Motley Fool Singapore: One part of Singapore Exchange’s business model deals with the matching of buyers with sellers. The company “acts as a buyer to every seller and a seller to every buyer.” Under this business, Singapore Exchange is put at risk in the rare instance that a member defaults. If such an event occurs, the company’s clearing house will need to manage and close-out the open positions of the defaulted firm. Singapore Exchange and other members may need to absorb the losses from the resulting market risk.
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