Investors pick Singapore's top companies

Singapore's top companies were revealed today, as Alpha Southeast Asia revealed the results of its second annual poll to find Southeast Asia's top companies.

The awards by Alpha Southeast Asia, a magazine focused on Southeast Asia's banking and capital markets, are based on tallied votes among 460 investors, pension funds, hedge funds, equity and fixed income brokers and analysts with investment interests in the Southeast Asia region.

Companies in each country were ranked on their financial management, adherence to corporate governance, investor relations' strategy, transparency and disclosure including the alignment of their CSR strategy to business goals.

In Singapore, the eight companies most preferred by institutional investors include regionally diversified telecoms company SingTel and local telecoms player Starhub, global real estate player Capitaland, regional banks' DBS Bank, OCBC, and UOB, aeronautical engineering specialist SIA Engineering, and conglomerate Keppel Corp.

SingTel's Jeann Low was nominated for both Best CFO in Singapore and Southeast Asia.

Across the region, the award for the Best Annual Report in Southeast Asia went to Keppel Corp while the award for the Strongest Commitment to Sustainable Energy in Southeast Asia went to Thai Oil.

SingTel says sells stake in Far EasTone for $340m

SINGAPORE - Singapore Telecommunications Ltd (SingTel) confirmed on Friday it has divested its 3.98 per cent stake in Taiwan's Far EasTone Telecommunications Co Ltd for T$8.03 billion (S$340 million).

SingTel, Southeast Asia's biggest telecoms firm, said it will see a gain of about S$118 million (US$95 million) from the on-market sale. The gain will be reflected in the first quarter ending June 30.

On Thursday IFR reported SingTel was selling its stake in Far EasTone and Goldman Sachs was the sole bookrunner for the deal.