Singapore Airlines Ltd, the sixth-worst performing stock in Singapore last year, may have an even rougher ride this year. Competition from a slew of startup carriers and the potential for another SARS outbreak are making investors wary of Southeast Asia's biggest airline.
\nSingapore Airlines and its regional unit SilkAir Pte already battle cheaper fares offered by Jakarta-based Lion Air and Malaysia's AirAsia Sdn. From this year, Singapore Airlines will compete with Singapore-based Valuair Ltd and even its own Tiger Airways, a discount airline it's setting up with Indigo Partners LLC and Irelandia Investments Ltd.
\n"The main overhang on Singapore Air's performance has been the low-cost carriers and what they're going to do," said Caleb Woo, who holds Singapore Airlines shares in the US$1.4 billion he helps oversee at DBS Asset Management Ltd in Singapore. "There are a lot of people who are attracted by cheaper fares. There will be some detrimental impact."
\nSingapore Airlines, 57 percent-owned by the government, trimmed wages and fired almost 600 workers last year, the biggest job cuts in its history.
\nStill, questions about whether Singapore is doing enough to remain an aviation hub were raised this month by Lee Kuan Yew (
A Taiwanese YouTuber suspected of creating and selling deepfake porn videos featuring more than 100 politicians and influencers was on Monday released on bail after being arrested the previous day. Chu Yu-chen (朱玉宸), 26, who uses the name Xiaoyu (小玉) on YouTube, was arrested on Sunday in New Taipei City, along with two suspected accomplices, a 24-year-old YouTuber surnamed Yeh (耶), known as Shaiw Shaiw (笑笑), and a 22-year-old man Chuang (莊). The three suspects were on Monday escorted to the New Taipei District Prosecutors’ Office for further questioning on suspicion of distributing obscene videos and publicly insulting others, in contravention of
ANTI-COERCION: EU Commissioner for Competition Margrethe Vestager said the EU wishes to bolster relations with Taiwan within the framework of its ‘one China’ policy The EU is to further its engagement with Taiwan to defend democracy, freedom and an open market, while bolstering cooperation in semiconductor supply chains, EU Commissioner for Competition Margrethe Vestager said on Tuesday. In her remarks at a European Parliament plenary session focused on Taiwan-EU relations, Vestager referred to China’s increasing military presence in the Taiwan Strait, including flying missions off the southwest coast of Taiwan. “This display of force may have a direct impact on European security and prosperity,” she said, adding that the EU encourages all parties to avoid any unilateral actions that might increase tensions across the Strait. “We Europeans
Hon Hai Precision Industry Co (鴻海精密) yesterday debuted three electric vehicle (EV) prototypes to great fanfare at its Tech Day event at the Taipei Nangang Exhibition Center. The prototypes of sports utility vehicle Model C, luxury sedan Model E and electric bus Model T were developed by Foxtron Vehicles Technologies Co (鴻華先進), a joint venture between Hon Hai and Yulon Motor Co (裕隆汽車). The Model C and Model E are to be initially sold under the Yulon-affiliated Luxgen Motor Co (納智捷汽車) and China Motor Corp (中華汽車) brands when they hit the market, Hon Hai chairman Young Liu (劉揚偉) said. The company expects
MILITARY RESOLVE: Washington does not want a cold war with Beijing, it just wants ‘China to understand that we’re not going to step back,’ Biden told a CNN town hall The US would come to Taiwan’s defense and has a commitment to defend the nation China claims as its own, US President Joe Biden said on Thursday, although the White House later said there was no change in policy toward Taiwan. “Yes, we have a commitment to do that,” Biden said at a CNN town hall meeting when asked if the US would come to the defense of Taiwan, which has been facing mounting military and political pressure from Beijing to accept Chinese sovereignty. While Washington is required by law to provide Taiwan with the means to defend itself, it has long