Nifty financial services

LONDON: Britain will "modernise" its listing rules to attract more high-growth and "blank cheque" SPAC company flotations to London, Finance Minister Rishi Sunak said on Tuesday. The London Stock Exchange is facing tougher competition from NYSE and Nasdaq in New York, and from Euronext in Amsterdam since Britain fully left the European Union on Dec. 31. In a bid to keep London globally competitive after Brexit, Sunak commissioned a review of listings rules last November. It was led by former European Commissioner Jonathan Hill and will publish its recommendations on Wednesday. "The review has more than delivered and I'm keen we move quickly to consult on its recommendations, cementing the UK's reputation at the front of global financial services," Sunak said in a statement. The government faces pressure to act - it announced a fast-track work visa scheme last week for fintechs - after swathes of euro stock and swaps trading left London for Amsterdam and New York after full ... » Learn More about Britain to ease listing rules to buttress London after Brexit

Razon-led International Container Terminal Services Inc. (ICTSI) reported on Thursday that its net income attributable to equity holders improved to $101.8 million last year despite the impact of the coronavirus pandemic. In a statement, the listed port operator said the amount — or P4.94 billion — was a 1-percent increase from $100.4 million a year earlier. It attributed the growth to “higher revenues; lower cash operating expenses resulting from Revenue from port operations reached $1.505 billion, up 2 percent year-on-year from $1.481 billion. Earnings before interest, taxes, depreciation and amortization (Ebitda) reached $876.8 million, 6 percent higher than 2019’s $830.1 million. Consolidated volume handled reached 10,193,384 20-foot equivalent units (TEUs), a 0.2-percent rise from 10,178,018 TEUs a year earlier. The firm partly attributed this to operations at its Rio terminal and improved trading activities in the second half following relaxed lockdowns in some parts ... » Learn More about ICTSI’s 2020 income climbs to over $101M

PETALING JAYA: Engineering solutions company Pansar Bhd expects its acquisition of construction firm Perbena Emas Sdn Bhd to be completed by April. Perbena will start contributing to Pansar’s bottom line in the same month, Pansar’s business division general manager David Tai Wei said. The Sarawak-based company, which is controlled by Tai’s family, had last September entered into an agreement to buy 100% of Perbena for RM151mil. The acquisition will allow the company to diversify its business to include construction and civil engineering. Currently, it is involved in providing engineering solutions for various industries including marine and industrial, heavy equipment and agriculture. It also makes air conditioning, fire protection and water treatment systems. The company announced last week the price-fixing and implementation timeline for its rights issue exercise, which is expected to help it raise some RM121mil to fund the purchase of Perbena. The remaining is ... » Learn More about Perbena to contribute to Pansar’s earnings by April

Pattaya- The following is our popular weekly reader talkback results feature in which we ask our readers a question, usually one that is currently in the news, and then highlight a diverse range of answers roughly a week later. Last week, we asked you the following question: Reader TalkBack: What time should bars and clubs in Pattaya close? This came after many complaints from the local bar and nightlife owners who have been pressuring city, regional, and national leaders to relax closing times for businesses in the Chonburi area, especially tourism and nightlife-dependent Pattaya. We decided to wait to post the responses until today, Wednesday, February 24th, as the Center for Covid-19 Situation Administration officially changed the hours this week by moving Pattaya to a lower risk zone. This now allows Pattaya to close nightlife venues at midnight, an improvement from 11:00 P.M. which was fairly strictly enforced since nightlife venues were allowed to re-open on ... » Learn More about Reader talkback results: What time should bars and clubs close in Pattaya?

EVERY Filipino parent wants the best education for his or her children. Every working Filipino looks forward to a good and comfortable retirement life. Every Filipino wants to have the best medical care as needed. All these need advance preparation. The question is: are Filipinos making the right preparations? Let us look at the facts. According to the latest data from Bangko Sentral ng Pilipinas, only 29 percent of Filipino adults had bank deposits in 2019. Though this is already a 6 percent increase from 2017 data, it’s still one of the lowest savings rates in Southeast Asia. Did the 71 percent save their money somewhere else, which they can use during crunch time? A Manulife Investor Sentiment Index survey showed Filipino investors only have personal income equivalent to 3.6 months set aside for retirement, the lowest in Asia with an average of 2 to 3 years. What happens after four months into retirement? Further, of the Philippines’ total health expenditure of P906 billion ... » Learn More about What keeps Filipinos from preparing for the future

One of the biggest markets worldwide, and, particularly, among Thai financial markets, is the Forex market. Globally, it has been really active for the last few years, and the daily transactions on this domain have increased to more than $5 trillion. Now, these are some astounding stats on Forex trading. One of the biggest markets worldwide, and, particularly, among Thai financial markets, is the Forex market. Globally, it has been really active for the last few years, and the daily transactions on this domain have increased to more than $5 trillion. Now, these are some astounding stats. The market has provided the financial institutions and banks a safe trading space. This ever-growing demand for obtaining foreign currencies contributes to this booming market. This is a lucrative option for the local currency traders and has a significant role in Forex. The Forex market stays open for 24 hours daily, Monday to Friday. With the growing use and application of technologies, ... » Learn More about Overview of the Thai Forex Market and its Passed Issues

Thailand’s Startups representatives gather at an online conference late on Thursday to share their views about business during the coronavirus pandemic. Up to 80% of the local startups are struggling financially with revenue drying up in the wake of the coronavirus outbreak. The Thailand Tech Startup Association (TTSA), which wants the government and all related parties to help. “The sudden impact from the pandemic means local startups face a difficult time, with loss of customers directly affecting their revenue,” TTSA president Panachit Kittipanya-ngam told the Bangkok Post . “We estimate that income at up to 80% of local startups has fallen to zero. Some travel tech startups have started laying off their staff.” Mr Panachit’s remarks were relayed at a live press conference, in the online presence of representatives from over 60 startups and from capital ventures, late on Thursday. Local Startups want to survive He said local startups want to survive and to be an ... » Learn More about Thailand’s Local Startups Struggling as Funding Dries Up

Singha Estate's commercial property businesses include 140,000 square metres of commercial office and retail space contributing 15% of total revenue in 2020. Singha Estate Pcl aims to triple annual revenue to around 20 billion baht in three years and grow assets to 80 billion from 65 billion baht at the end of 2020, while also growing its margins. The firm announced that it is pursuing a strategic broadening of its business by integrating traditional property businesses with industrial estates, power generation, engineering services and other related businesses. "This is a milestone year that marks our transition to the next phase of Singha Estate's development journey," Chutinant Bhirombhakdi, chairman of the board of directors of Singha Estate, said. "We are embracing complementary and innovative businesses to become one of Thailand's foremost enterprises that leverages the synergies between property, power generation, and related services to deliver high growth with strong ... » Learn More about Singha Estate eyes tripling revenue in three years

DAGUPAN CITY, Pangasinan: A total of 85,248 indigent patients from Pangasinan, Tarlac and La Union provinces has been served by the Malasakit Center based at the Region 1 Medical Center (R1MC) here since its opening on Feb. 26, 2019. This was announced on Wednesday by R1MC chief Dr. Joseph Roland Mejia during the first anniversary celebration of the center in the presence of Sen. Christopher Lawrence “Bong” Go. The Malasakit Center, according to Mejia, has already disbursed more than P120 million to pay the hospital bills of the indigent patients of R1MC and other hospitals in the Ilocos Region. “This is a very important initiative of President Rodrigo Duterte and [Sen. Bong Go] that has assisted many poor folks in the three provinces,” he said. Mejia cited incumbent Fourth District Rep. Christopher de Venecia, son of former House Speaker Jose de Venecia Jr. and former representative Gina de Venecia, for his continuing support in improving and constructing buildings at R1MC ... » Learn More about 85K served by Malasakit Center in Ilocos Region

Security Bank Corporation launched its latest credit card offering called the Security Bank NEXT Mastercard. Tagged as the credit card for the savvy millennial, “Next” features no annual fees for life and is the only card in the country that automatically converts purchases P5,000 and above into 12-month installments. “Next” Mastercard allows cardholders to get whatever is next on their shopping list, may it be groceries, appliances, gas, or other commodities, while enjoying easy payment terms. “The introduction of the Security Bank “Next” Mastercard is a testament to the banks’ mission to provide consumers with BetterBanking products and services. Through the unique features of the “Next” Mastercard, Filipinos can enjoy financial flexibility with every transaction,” says Celeste Lim, FVP and head of SB Cards Business Development and Operations Group. Aside from waived annual fees for life and automatic conversion of transactions above 5,000 pesos to 12 monthly installments, ... » Learn More about Security Bank launches NEXT Mastercard