Mainboard-listed Sri Tang Gloves achieved a net profit of THB146.8m in 1Q24, driven by unprecedented sales volume.
Sales volume across all products reached 10.1 billion pieces, whilst average selling prices increased 1.2% QoQ and 0.4% YoY to THB 599 per 1,000 pieces. With higher volume and prices, total revenue for the period grew 14.0% QoQ and 32.1% YoY to THB6.1b . Latex powder-free gloves constituted 39% of total 1Q24 revenue, while latex powder gloves made up 37%. Nitrile gloves contributed the remaining 24%....there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
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BMW Group Asia's Singapore Sales Surge in 1Q24pstrongIn 1Q24, the group's premium segment reported a 51.5% YoY increase in sales./strong/p pBMW Group Asia saw robust growth in new car sales in Singapore in 1Q24. /p pIts premium segment, BMW, saw a 51.5% YoY increase, whilst its EV segment, BMW BEV, and its MINI segment experienced YoY increases of 151.5% and 6.1%, respectively.
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Luxury home sales drop to 46 in 1Q24pstrongExcluding new sales, transactions would have been 17.6% QoQ higher./strong/p pThe total number of luxury non-landed homes transactions fell 34.3% QoQ to 46 in 1Q24, Huttons reported./p pThe expert, however, said Watten House, a major project launch, propped up sales in 1Q24.
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GCB market stagnates with only 5 sales in 1Q24pstrongThe value of transacted GCBs also fell 10.6% QoQ./strong/p pThe total value of Good Class Bungalows (GCBs) sold in 1Q24 fell to $118.4m, 10.6% lower than the preceding quarter./p pVolume, meanwhile, was at a similar level in 4Q23, with five GCBs sold.
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Singapore's GDP Grows 2.7% YoY in 1Q24Singapore's gross domestic product (GDP) grew faster in the first quarter of 2024, increasing by 2.7% year-on-year, according to advance estimates from the Ministry of Trade and Industry (MTI). The goods-producing and services-producing industries both saw expansions, contributing to the overall growth.
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Residential sector dominates 1Q24 investment with $1.79BpstrongThe sector's investment sales, however, dropped 48.5% QoQ./strong/p pThe residential sector led investment sales in 1Q24 with $1.79b, accounting for 43.3% of the total transactions for the period./p pWhilst residential emerged as the top-performing sector, its total sales were 48.5% lower quarter-on-quarter.
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OCBC SME Index: Which sectors excelled and lagged in 1Q24?pstrongOverall, SMEs' performance and health remained in a state of contraction with a 49.7 reading./strong/p pThe performance and health of small and medium enterprises (SMEs) in Singapore slightly improved in 1Q24, according to the latest OCBC SME Index./p pDespite a 0.
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