PRESS DIGEST - Singapore newspapers - May 5
SINGAPORE, May 5 (Reuters) - The following are stories from Singapore newspapers on Monday. Reuters has not verified these stories.
THE STRAITS TIMES
- Middle Eastern investors are increasingly looking to Singapore and other Southeast Asian nations for deals as financial ties grow between the two regions, said V. Shankar, Standard Chartered Bank's group head for origination and client coverage.
- The number of Singaporeans who turn to temples for free meals amid rising consumer prices has jumped 40 percent since January, Lee Bock Guan, president of the Singapore Buddhist Lodge said. About 1,500 people go the temple on weekdays for meals, while 6,000 arrive on weekends, Lee said.
- Senior Minister Goh Chok Tong arrives in the Libyan capital of Tripoli on Monday for an official visit at the invitation of the Libyan government.
Singapore imported S$35 million ($25.7 million) worth of machinery and petroleum crude from Libya in 2007, and exported S$58 million worth of goods, including machine parts, tools and jewellery, to Libya.
THE BUSINESS TIMES
- Mapletree Investments' asset size could grow to S$15-S$20 billion in a year from the current S$10.5 billion, said Hiew Yoon Khong, chief executive of the firm.
The increase will come largely from new private funds Mapletree is starting, including the $1.5 billion-$2.0 billion Mapletree India-China Fund, Hiew said. Mapletree is fully owned by Singapore's state investor Temasek Holdings [TEM.UL].
- Higher costs, lower investment income, and the lack of large asset revaluation gains or tax write-backs have ensured that corporate earnings reported so far for the quarter ended March have been unimpressively flat.
Shipbuilders, property trusts and companies related to the construction and oil and gas industries mostly reported strong earnings growth in the first three months of the year, boosted by strong demand and high property prices.
