Carey Wong News
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Genting Singapore Plc, one of two companies licensed to run casinos in the city state, dropped the most in three years after reporting first-quarter profit plummeted 44 percent.
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Singapore Telecommunications Ltd., Southeast Asia’s biggest phone company, wants to focus on wireless services in Myanmar as it vies for the right to operate in one of the world’s last untapped mobile markets.
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Palm oil dropped for a third day to the lowest in almost eight months as China’s car sales growth slowed, adding to signs the economy of the biggest edible oil consumer is cooling.
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Wilmar International Ltd., the world’s biggest palm oil processor, said third-quarter profit increased 26 percent, beating estimates, after pretax earnings at its sugar and palm oil units rose.
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Olam International Ltd., the commodity supplier targeted by short-seller Carson Block, raised $712.5 million from a 10 percent-oversubscribed bond sale, which was backed by its two largest shareholders.
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Wilmar International Ltd., the worst performing stock on Singapore’s Straits Times Index in 2012, may extend its slide this year as investors favor agricultural companies that rely less on trading.
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Palm oil fell as signs that economic expansion in China, the largest edible oil user, may be cooling damped investor appetite for the commodity.
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StarHub Ltd., Singapore’s biggest broadband Internet and cable TV operator, is adding new content to make them “stickier” and stop customers from moving to rivals including Singapore Telecommunications Ltd.
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Singapore Telecommunications Ltd.’s shares fell the most in more than a month after Southeast Asia’s biggest phone company forecast annual sales may drop for the first time in 13 years on declining Australian revenue.
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Wilmar International Ltd., the world’s largest palm oil trader, agreed to buy CSR Ltd. ’s sugar unit for A$1.75 billion ($1.5 billion), beating China’s Bright Food Group Co.’s bid for Australia’s biggest refiner.
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