PRESS DIGEST - Singapore newspapers - June 11
SINGAPORE, June 11 (Reuters) - The following are stories from Singapore newspapers on Wednesday. Reuters has not verified these stories.
THE STRAITS TIMES - Vegetables and eggs at Singapore's markets are now more expensive, and the price of chicken is also set to rise, less than a week after Malaysia decided to trim fuel subsidies and thus increasing transportation costs for imports.
- A survey by DP Information Group found that, except for the finance and services industries, small and medium-sized enterprises (SMEs) in almost all other sectors saw a drop in profit margins last year compared to 2006 due to rising raw material and other business costs.
BUSINESS TIMES
- The Taiwan Stock Exchange (TWSE), which is planning an initial public offering early next year, is open to selling a stake to the Singapore Exchange (SGXL.SI) (SGX), its chairman Wu Rong-I said in Singapore. It has yet to hold talks with SGX.
- Banks in Singapore can now become clearing members of the securities market here, after the SGX made changes to the Central Depository (CDP) clearing rules. Under existing rules, banks had to incorporate a separate company to apply for clearing membership.
- United Overseas Bank (UOBH.SI), which has launched a new credit card with regional perks, said it has over 2.5 million credit cards in circulation in Asia and intends to double this over the next five years. "As we look to Asia to drive the continued growth of the UOB card business, the regional UOB Preferred Platinum Card is our launch pad," said Gan Ai Im, UOB's head of cards in Singapore and the region. ((Singapore Newsroom +65 6403 5677, singapore.newsroom@reuters.com))
