Posts by Mark Darwin
Stocks to watch: CDL, BRC Asia, Food Empire, Sri Trang Agro-Industry, Sri Trang Gloves
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (May 14). City Developments Limited (CDL): The property player will be repurchasing 10 per cent of its preference shares – or about 26.8 million shares – at S$0.78 a share, it announced on Tuesday. CDL has offered to repurchase…
Read MoreMobile games turn into boom-or-bust industry as spending rises
[HONG KONG] Mobile gamers ramped up their spending by 4 per cent last year even as the number of downloads and new releases fell, highlighting the narrowing of the industry to a handful of huge titles that dominate users’ time. New hits took less time than ever to reach their first US$1 million in revenue…
Read MoreChina’s JD.com beats quarterly revenue estimates
[BEIJING] Chinese e-commerce retailer JD.com topped market estimates for quarterly revenue on Tuesday (May 13), in a sign of steady demand even as US tariffs and prolonged economic weakness weighed on consumer sentiment. Consumer demand in China has faced a series of hurdles in recent years, with a prolonged property sector crisis and high unemployment…
Read MoreGoogle unveils major Android redesign ahead of iPhone overhaul
[HONG KONG] Google unveiled the biggest update to its Android mobile operating system in years, weeks before its biggest competitor in the space, Apple, is expected to give a preview of its overhauled iPhone software. The Alphabet unit is rolling out a new, bolder design language – called Material 3 Expressive – that spans the…
Read MoreIReit Global launches S$85 million of green notes at 6%
[SINGAPORE] IReit Global’s trustee has launched and priced S$85 million of green, senior, and unsecured notes at 6 per cent per annum, with the proceeds to fund the capital expenditure for the repositioning of its Berlin Campus to a multi-let and mixed-use property. The manager of the real estate investment trust (Reit) with assets focused…
Read MoreFood Empire reports 16.3% rise in revenue for Q1
[SINGAPORE] Food Empire posted a 16.3 per cent rise in its top line to US$136.6 million for the first quarter of FY2025 ended March, as most major markets delivered better performance. However, the firm did not give its net profit for the period in the update filed with the bourse on Tuesday (May 13). Contributing…
Read MoreCDL to repurchase preference shares via off-market, equal access scheme
The offer, to be made in cash, allows it to exercise greater control over its share capital structure in relation to the preference shares [SINGAPORE] Property player City Developments Limited (CDL) will be repurchasing 10 per cent of its preference shares – or about 26.8 million shares – at S$0.78 a share, it announced in…
Read MoreCDL to buy back preference shares at S$0.78 each via off-market, equal access scheme
The offer, to be made in cash, allows it to exercise greater control over its share capital structure in relation to the preference shares [SINGAPORE] Property player City Developments Limited (CDL) will be repurchasing 10 per cent of its preference shares – or about 26.8 million shares – at S$0.78 a share, it announced in…
Read MoreSea swings into the black in Q1 with US$410 million profit on surge in Shopee, financial services earnings
[SINGAPORE] Sea reported first-quarter 2025 earnings of US$410.8 million, reversing from a loss of US$23 million in Q1 2024 on Tuesday (May 13). Revenue for the quarter rose 29.6 per cent to US$4.8 billion from US$3.7 billion a year prior. This was a slight miss from US$4.88 billion to US$4.84 billion forecast by a Bloomberg…
Read MorePrime US Reit distributable income for Q1 2025 down 30% to US$8.4 million
[SINGAPORE] Prime US Reit’s distributable income fell 30 per cent to US$8.4 million, from US$12 million in the year-ago period. On a same-store basis, income available for distribution declined by 24 per cent from US$11.1 million. The prolonged elevated interest-rate environment since H2 2023 and the slow recovery from the pre-pandemic remote-working arrangement necessitated the…
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