PRESS DIGEST - Singapore newspapers - Oct 13
SINGAPORE, Oct 13 (Reuters) - The following are stories from Singapore newspapers on Monday. Reuters has not verified these stories.
THE STRAITS TIMES
- Retailers along Orchard Road, Singapore's main shopping belt, have seen their revenues fall in the last few weeks as the turmoil in financial markets, dwindling number of tourists and higher road gantry charges dragged on businesses. - Bahrain's Crown Prince Shaikh Salman Hamad Al-Khalifa is expected to arrive in Singapore on Monday for a three-day visit to boost the country's economic ties with Singapore.
BUSINESS TIMES
- Financial institutions in Singapore are "sound and operating normally", said Heng Swee Keat, the managing director of Singapore's central bank.
- The slide of the Australian dollar will hit Singapore companies with Aussie exposure, including Singapore Telecommunications (STEL.SI), Singapore's biggest firm by stock market value.
Other companies with Australian dollar exposure include transport operator ComfortDelGro (CMDG.SI), Singapore Power, property company CapitaLand (CATL.SI), crane operator Tat Hong (TAT.SI), and systems integrator CSE Global (CSES.SI).
- The pipeline of emerging market companies listing in Singapore and elsewhere is drying up as capital markets freeze, lawyers said.
"The IPO pipeline has basically been turned off. Listings work has come pretty much to a halt, whether in this region or in any other region,' said Mike Edwards, director at Cains Advocates and head of the firm's Singapore office.
