Singapore Airlines (SIA),singapore airline

12,000 SIA staff to take 10% pay cut after carrier posts loss in Q1

SINGAPORE: An estimated 12,000 non—management staff at Singapore Airlines (SIA) will take a pay cut of 10 per cent for three months starting from August 1.

This comes after the carrier posted a S$271 million loss at the company level in the first quarter.

As a group, SIA posted a net loss of S$307.1 million for the three months ended June 30 compared to a net profit of S$358.6 million a year earlier.

But at company level, the loss for the carrier alone was S$271 million.

Under current union agreements, a pay cut is automatically triggered if the airline posts a net loss at a company level in any given quarter.

It applies across the board, but Channel NewsAsia understands, the bulk of those affected comprise cabin crew, pilots and ground staff employed in Singapore.

The quantum is determined

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The only licensee so far for the DJIM ASEAN is by a traditional equity fund manager, Malaysia-based Corston-Smith Asset Management.

 

Dow Jones Indexes launched the Dow Jones Islamic Market ASEAN Index on Monday, the first index to cover Shari'ah-compliant companies in six of the 10 member states of the Association of Southeast Asian Nations (ASEAN): Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

The DJIM ASEAN Index will serve as the basis for exchange-traded funds and other investment products. Islamic nations in the Middle East and in Southeast Asia are ramping up efforts to develop their local ETF marketplaces.

Indonesia, Malaysia, Thailand and Singapore, four of the six countries covered by the new index, have already taken baby steps into ETF waters.

At the end of the third quarter, Singapore had five ETFs; Malaysia had three, Thailand had two, and Indonesia had one ETF portfolio, according

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An Index of Top Rated Global Transport Companies The accompanying table includes the top 50 rated companies and statistics for the ETF Innovators (ETFI) Global Transportation PerformIdex, which is structured as an equally-weighted index with quarterly updates from a database of 225 companies included in the five indexes below to provide broader investment exposure compared to existing ETFs such as iShares Dow Transports (IYT) and PowerShares Global Progressive Transport (PTRP). 1.) ETFI Global Air Transport 2.) ETFI Global Personal Transport 3.) ETFI Global Maritime Transport 4.) ETFI Global Railroad Industry 5.) ETFI Global Trucking & Logistics The index is structured to include 15 companies each from railroads + trucking & logistics, 10 companies from air transport, and five companies each ...

A Short Transport ETF Strategy for the Global Slowdown Given the global economic slowdown, lower commodity prices, and cool-down in former red-hot grow markets such as China; the accompanying table presents statistics and an overview of a global transport short ETF strategy for passenger airlines, auto makers, maritime, and trucking companies. While I am still bullish on the prospects for railroads as a long investment idea and a hedge to these short transport ETF ideas, they will also suffer to some degree depending on the length and depth of the slowdown. However, the railroad industry is more fuel efficient than trucking, is not plagued by overcapacity, and also enjoys pricing power as there is a limited amount of railroad track and little ...