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Business Times
5 days ago
- Business
- Business Times
Stocks to watch: SIA, Nio, Genting Singapore, CDL, United Hampshire US Reit, GHY, Ossia
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Aug 4): Singapore Airlines (SIA): The flag carrier was downgraded to a 'sell' by UOB Kay Hian on Aug 1, with its target price reduced to S$6.03 from S$6.63. Maybank also downgraded the national airline to a 'sell' rating on Jul 29, lowering its target price to S$6.75 from S$6.85, as did CGS International, downgrading it to a 'reduce' and cutting its target price to S$6.80 from S$6.88. SIA's profit plunged 58.8 per cent for its first quarter ended June on drag from Air India and tariffs hurting its cargo business. The counter ended Friday up 0.3 per cent or S$0.02 at S$6.82. Nio : The electric vehicle (EV) maker on Friday announced its delivery of 21,017 vehicles for July 2025. This consisted of 12,675 vehicles from its premium smart EV brand Nio, 5,976 vehicles from its family-oriented smart EV brand Onvo, and 2,366 vehicles from its small smart high-end electric car brand Firefly. Year to date, it has delivered 135,167 vehicles, a 25.2 per cent increase on the year. The counter closed 5.5 per cent or US$0.25 higher at US$4.79, before the announcement. Genting Singapore : The company announced on Friday that chief financial officer Lee Shi Ruh was appointed president and chief operating officer. She will be stepping down as CFO and will be succeeded by Ang Suat Ching. Ang is currently CFO of Resorts World Sentosa (RWS), an indirect wholly owned subsidiary of Genting Singapore. Outgoing president and COO Tan Hee Teck also stepped down as CEO and chairman of RWS in May. Shares of Genting Singapore closed flat at S$0.735, before the announcements. City Developments Ltd (CDL): Its executive chairman Kwek Leng Beng told The Business Times that his plans are for the group's portfolio of hotels to reach the 500 mark. This includes those under subsidiary Millennium Hotels & Resorts and will represent a trebling of the size of its portfolio, which is currently at 160 hotels. The counter ended Friday down 0.7 per cent or S$0.04 at S$6.12. United Hampshire US Reit : The real estate investment trust (Reit) has acquired a freehold shopping centre in Pennsylvania for a purchase consideration of US$16.4 million, subject to closing and post-closing adjustments. As part of Reit's portfolio optimisation and capital recycling strategy, the acquisition will be funded by proceeds from the divestment of its supermarket property in Albany, New York. Units of United Hampshire US Reit closed on Friday 1.1 per cent or US$0.005 lower at US$0.47. GHY Culture & Media : The group expects to report a loss after tax for the six months ended June, it said in a profit guidance issued on Friday. It attributed the loss to the unrealised foreign exchange loss arising from the Singapore dollar's appreciation in the half year against the renminbi, given its significant operations in China, as well as against the US dollar, as the group holds US dollar denominated bank deposits for operational and financing purposes. The counter ended unchanged at S$0.155, before the announcement.
Yahoo
17-05-2025
- Business
- Yahoo
ISCA announces new council members and performance highlights
The Institute of Singapore Chartered Accountants (ISCA) has revealed the election of four new members, the re-election of four current incumbents, and the appointment of two additional members to its council. This council is the governing body of ISCA tasked with making 'major' policy decisions and overseeing governance and membership matters within the institute. The newly-elected, re-elected and newly appointed council members are set to serve for a two-year term until 2027. Among the newly elected members are Ang Suat Ching, chief financial officer, Resorts World at Sentosa; Chin Chee Choon, audit and assurance partner, head of business development and Marcomm, Forvis Mazars Singapore; Lee Eng Kian, managing partner, PKF-CAP; Gajendran, assurance partner and professional practice director, EY. The re-elected members to the council are Lo Mun Wai, audit partner, KPMG; Judy Ng, group financial controller, DBS Bank; Cyndi Pei, chief financial officer, Digital InfraCo Singapore Telecommunications Limited (Singtel); Song Yeow Chung, chief financial officer, Old Chang Kee. The two new members appointed to the council are Esther Wee, accountant-general and chief of Government Finance, Accountant-General's Department (AGD); and Tan Boon Gin, chief executive officer, Singapore Exchange Regulation, SGX Group. During the annual general meeting (AGM), ISCA shared several updates from the past year. The Institute took over the administration of the Singapore Chartered Accountant Qualification (SCAQ) programme, resulting in a 47% increase in enrolments, it stated. It also maintained a 98.3% membership retention rate in 2024, the 'highest' in ten years, and ended the year with a $5.3m surplus, boosting its reserves to $113.8m. ISCA said it has kept membership fees stable for the eighth year in a row and expanded its global presence with 12 overseas chapters in nine countries along with four ISCA offices overseas. Looking ahead to 2025, ISCA stated that it plans to invest up to $7m in enhancing the SCAQ and furthering international growth. It also intends to acquire a second property valued at approximately $55m to strengthen its financial position. ISCA president Teo Ser Luck said, 'At this exciting time of strong growth and great potential for ISCA, I'm pleased that our valued members have elected a capable and experienced Council to lead us forward. The Council members bring with them many years of experience from a wide range of industries and sectors — including the public sector, accounting firms, listed companies, and more. Their diverse backgrounds will bring fresh ideas and new perspectives to help advance both ISCA and the accounting profession. Together with the Institute's senior management, we look forward to exploring new opportunities and making 2025 a year of meaningful progress, with new initiatives and key developments for ISCA. At the same time, we remain committed to supporting our members and delivering lasting value." In March 2025, the ISCA launched the SCAQ Career Mobility Programme (CMP) to facilitate cross-border work opportunities for accountants. "ISCA announces new council members and performance highlights" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Post
15-05-2025
- Business
- Arabian Post
ISCA Welcomes Six New Council Members; Poised to Invest up to $7 Million in Enhancements to SCAQ Programme and International Growth and Expansion in 2025
SINGAPORE – Media OutReach Newswire – 15 May 2025 – The Institute of Singapore Chartered Accountants (ISCA) has announced the election of four newly-elected members, re-election of four existing members, and appointment of two new members to the ISCA Council, which is the governing body of ISCA to approve major policy decisions and oversees matters relating to the governance and membership of the Institute. The newly-elected, re-elected and newly-appointed Council Members will serve as ISCA Council Members for a term of two years until 2027. The newly-elected Council Members are: • Ms Ang Suat Ching, Chief Financial Officer, Resorts World at Sentosa Pte Ltd • Mr Chin Chee Choon, Audit and Assurance Partner, Head of Business Development and Marcomm, Forvis Mazars LLP Singapore • Mr Lee Eng Kian, Managing Partner, PKF-CAP LLP • Mr Gajendran S/O Vyapuri, Assurance Partner and Professional Practice Director, EY LLP The re-elected Council Members are: • Ms Lo Mun Wai, Audit Partner, KPMG LLP • Ms Judy Ng, Group Financial Controller, DBS Bank • Ms Cyndi Pei, Chief Financial Officer, Digital InfraCo Singapore Telecommunications Limited (Singtel) • Mr Song Yeow Chung, Chief Financial Officer, Old Chang Kee Ltd In addition, two new members have been appointed to the Council: Ms Esther Wee, Accountant-General and Chief of Government Finance, Accountant-General's Department (AGD), and Mr Tan Boon Gin, Chief Executive Officer, Singapore Exchange Regulation, SGX Group. Ms Wee was appointed by the Ministry of Finance to represent the government on ISCA Council, and Mr Tan is the first non-accountant appointed by the ISCA Council for his extensive experience which enables him to support and advise ISCA on initiatives relating to corporate governance and bring an added lens in terms of regulatory oversight and public interest. At the AGM, ISCA also announced several key highlights and updates of its performance in the past year: • Since taking over the administration of the Singapore Chartered Accountant Qualification (SCAQ) programme at the start of the year, ISCA achieved an increase of 47% in enrolments, including overseas SCAQ candidates. • ISCA recorded a 98.3% membership retention rate in 2024, which is the highest in a decade. • Ended the year strong with a $5.3M surplus and boosted its reserves to $113.8M (including fair value gains). • Held membership fees unchanged for the 8th consecutive year, and no fee increase for this coming year as well. • Expanded our reach globally and set up 12 overseas chapters in 9 countries, with 4 ISCA overseas offices. In 2025, ISCA is poised to invest up to $7 million in enhancements to the SCAQ as well as international growth and expansion, as part of longer-term growth plans for the Institute. To support this endeavour, the Institute announced its plan to acquire a second property with a value around $55 million, for the purposes of investment and bolstering ISCA's financial health. ISCA President Mr Teo Ser Luck said, 'At this exciting time of strong growth and great potential for ISCA, I'm pleased that our valued members have elected a capable and experienced Council to lead us forward. The Council members bring with them many years of experience from a wide range of industries and sectors — including the public sector, accounting firms, listed companies, and more. Their diverse backgrounds will bring fresh ideas and new perspectives to help advance both ISCA and the accounting profession. Together with the Institute's senior management, we look forward to exploring new opportunities and making 2025 a year of meaningful progress, with new initiatives and key developments for ISCA. At the same time, we remain committed to supporting our members and delivering lasting value.' For more information on the biographies of the newly-elected, re-elected and appointed Council Members, please refer to the Annex. To access ISCA's Annual Report 2024/2025, please click here. Hashtag: #ISCA #DifferenceMakers #Accountancy #ISCACouncil The issuer is solely responsible for the content of this announcement. About the Institute of Singapore Chartered Accountants The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 39,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries. Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession. ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation. ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries. For more information, visit
Malay Mail
15-05-2025
- Business
- Malay Mail
ISCA Welcomes Six New Council Members; Poised to Invest up to $7 Million in Enhancements to SCAQ Programme and International Growth and Expansion in 2025
SINGAPORE - Media OutReach Newswire - 15 May 2025 - The Institute of Singapore Chartered Accountants (ISCA) has announced the election of four newly-elected members, re-election of four existing members, and appointment of two new members to the ISCA Council, which is the governing body of ISCA to approve major policy decisions and oversees matters relating to the governance and membership of the Institute. The newly-elected, re-elected and newly-appointed Council Members will serve as ISCA Council Members for a term of two years until 2027. The newly-elected Council Members are: • Ms Ang Suat Ching, Chief Financial Officer, Resorts World at Sentosa Pte Ltd • Mr Chin Chee Choon, Audit and Assurance Partner, Head of Business Development and Marcomm, Forvis Mazars LLP Singapore • Mr Lee Eng Kian, Managing Partner, PKF-CAP LLP • Mr Gajendran S/O Vyapuri, Assurance Partner and Professional Practice Director, EY LLP The re-elected Council Members are: • Ms Lo Mun Wai, Audit Partner, KPMG LLP • Ms Judy Ng, Group Financial Controller, DBS Bank • Ms Cyndi Pei, Chief Financial Officer, Digital InfraCo Singapore Telecommunications Limited (Singtel) • Mr Song Yeow Chung, Chief Financial Officer, Old Chang Kee Ltd In addition, two new members have been appointed to the Council: Ms Esther Wee, Accountant-General and Chief of Government Finance, Accountant-General's Department (AGD), and Mr Tan Boon Gin, Chief Executive Officer, Singapore Exchange Regulation, SGX Group. Ms Wee was appointed by the Ministry of Finance to represent the government on ISCA Council, and Mr Tan is the first non-accountant appointed by the ISCA Council for his extensive experience which enables him to support and advise ISCA on initiatives relating to corporate governance and bring an added lens in terms of regulatory oversight and public interest. At the AGM, ISCA also announced several key highlights and updates of its performance in the past year: • Since taking over the administration of the Singapore Chartered Accountant Qualification (SCAQ) programme at the start of the year, ISCA achieved an increase of 47% in enrolments, including overseas SCAQ candidates. • ISCA recorded a 98.3% membership retention rate in 2024, which is the highest in a decade. • Ended the year strong with a $5.3M surplus and boosted its reserves to $113.8M (including fair value gains). • Held membership fees unchanged for the 8th consecutive year, and no fee increase for this coming year as well. • Expanded our reach globally and set up 12 overseas chapters in 9 countries, with 4 ISCA overseas offices. In 2025, ISCA is poised to invest up to $7 million in enhancements to the SCAQ as well as international growth and expansion, as part of longer-term growth plans for the Institute. To support this endeavour, the Institute announced its plan to acquire a second property with a value around $55 million, for the purposes of investment and bolstering ISCA's financial health. ISCA President Mr Teo Ser Luck said, 'At this exciting time of strong growth and great potential for ISCA, I'm pleased that our valued members have elected a capable and experienced Council to lead us forward. The Council members bring with them many years of experience from a wide range of industries and sectors — including the public sector, accounting firms, listed companies, and more. Their diverse backgrounds will bring fresh ideas and new perspectives to help advance both ISCA and the accounting profession. Together with the Institute's senior management, we look forward to exploring new opportunities and making 2025 a year of meaningful progress, with new initiatives and key developments for ISCA. At the same time, we remain committed to supporting our members and delivering lasting value." For more information on the biographies of the newly-elected, re-elected and appointed Council Members, please refer to the Annex. To access ISCA's Annual Report 2024/2025, please click here Hashtag: #ISCA #DifferenceMakers #Accountancy #ISCACouncil The issuer is solely responsible for the content of this announcement. About the Institute of Singapore Chartered Accountants The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 39,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries. Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession. ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation. ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries. For more information, visit
The Sun
15-05-2025
- Business
- The Sun
ISCA Welcomes Six New Council Members; Poised to Invest up to $7 Million in Enhancements to SCAQ Programme and International Growth and Expansion in 2025
SINGAPORE - Media OutReach Newswire - 15 May 2025 - The Institute of Singapore Chartered Accountants (ISCA) has announced the election of four newly-elected members, re-election of four existing members, and appointment of two new members to the ISCA Council, which is the governing body of ISCA to approve major policy decisions and oversees matters relating to the governance and membership of the Institute. The newly-elected, re-elected and newly-appointed Council Members will serve as ISCA Council Members for a term of two years until 2027. The newly-elected Council Members are: • Ms Ang Suat Ching, Chief Financial Officer, Resorts World at Sentosa Pte Ltd • Mr Chin Chee Choon, Audit and Assurance Partner, Head of Business Development and Marcomm, Forvis Mazars LLP Singapore • Mr Lee Eng Kian, Managing Partner, PKF-CAP LLP • Mr Gajendran S/O Vyapuri, Assurance Partner and Professional Practice Director, EY LLP The re-elected Council Members are: • Ms Lo Mun Wai, Audit Partner, KPMG LLP • Ms Judy Ng, Group Financial Controller, DBS Bank • Ms Cyndi Pei, Chief Financial Officer, Digital InfraCo Singapore Telecommunications Limited (Singtel) • Mr Song Yeow Chung, Chief Financial Officer, Old Chang Kee Ltd In addition, two new members have been appointed to the Council: Ms Esther Wee, Accountant-General and Chief of Government Finance, Accountant-General's Department (AGD), and Mr Tan Boon Gin, Chief Executive Officer, Singapore Exchange Regulation, SGX Group. Ms Wee was appointed by the Ministry of Finance to represent the government on ISCA Council, and Mr Tan is the first non-accountant appointed by the ISCA Council for his extensive experience which enables him to support and advise ISCA on initiatives relating to corporate governance and bring an added lens in terms of regulatory oversight and public interest. At the AGM, ISCA also announced several key highlights and updates of its performance in the past year: • Since taking over the administration of the Singapore Chartered Accountant Qualification (SCAQ) programme at the start of the year, ISCA achieved an increase of 47% in enrolments, including overseas SCAQ candidates. • ISCA recorded a 98.3% membership retention rate in 2024, which is the highest in a decade. • Ended the year strong with a $5.3M surplus and boosted its reserves to $113.8M (including fair value gains). • Held membership fees unchanged for the 8th consecutive year, and no fee increase for this coming year as well. • Expanded our reach globally and set up 12 overseas chapters in 9 countries, with 4 ISCA overseas offices. In 2025, ISCA is poised to invest up to $7 million in enhancements to the SCAQ as well as international growth and expansion, as part of longer-term growth plans for the Institute. To support this endeavour, the Institute announced its plan to acquire a second property with a value around $55 million, for the purposes of investment and bolstering ISCA's financial health. ISCA President Mr Teo Ser Luck said, 'At this exciting time of strong growth and great potential for ISCA, I'm pleased that our valued members have elected a capable and experienced Council to lead us forward. The Council members bring with them many years of experience from a wide range of industries and sectors — including the public sector, accounting firms, listed companies, and more. Their diverse backgrounds will bring fresh ideas and new perspectives to help advance both ISCA and the accounting profession. Together with the Institute's senior management, we look forward to exploring new opportunities and making 2025 a year of meaningful progress, with new initiatives and key developments for ISCA. At the same time, we remain committed to supporting our members and delivering lasting value.' For more information on the biographies of the newly-elected, re-elected and appointed Council Members, please refer to the Annex. To access ISCA's Annual Report 2024/2025, please click here. The issuer is solely responsible for the content of this announcement.
