Advertisement
Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,118.29
    +39.43 (+0.49%)
     

  • Bitcoin USD

    64,387.14
    +459.73 (+0.72%)
     

  • CMC Crypto 200

    1,391.84
    -4.69 (-0.34%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • Dow

    38,085.80
    -375.12 (-0.98%)
     

  • Nasdaq

    15,611.76
    -100.99 (-0.64%)
     

  • Gold

    2,359.60
    +17.10 (+0.73%)
     

  • Crude Oil

    83.93
    +0.36 (+0.43%)
     

  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

Daily Briefing: Singapore welcomes Alipay; Are Genting stocks getting expensive?

Singapore Business Review

And check out who won the bid for Toh Tuck Road site.

From CNBC via Yahoo!: The helloPay payment platform on Southeast Asian e-commerce site Lazada will be rebranded in each country it operates as a version of Alipay. This comes as Alibaba -affiliate Ant Financial merges with helloPay Group, according to a joint statement from the two companies. Alipay is the payments service from Ant Financial, and it has over 450 million active users, according to the company.

From Motley Fool Singapore: In Genting Singapore’s latest earnings for the year ended 31 December 2016, there are signs that a turnaround in its business may be happening. For instance, in the fourth quarter of 2016, the company’s revenue inched up by 2% year-on-year. As a likely result, Genting Singapore’s share price today is 24% higher than what it was 12 months ago. Given this rally, some investors may be wondering: Is Genting Singapore’s current valuation cheap, fair or expensive?

From PropertyGuru: The Urban Redevelopment Authority (URA) announced that a 18,721 sq m. (201,511 sq ft.) residential site at Toh Tuck Road in Singapore has been awarded to a subsidiary of Malaysian developer SP Setia after it submitted the highest bid of about $265 million. SP Setia International (S) Pte Ltd’s offer translates to $10,111 psm ($939 psf) based on the plot’s maximum permissible gross floor area (GFA) of 26,210 sq m. (282,122 sq ft.).

ADVERTISEMENT



More From Singapore Business Review