Posts by Mark Darwin
Jumbo’s H1 profit down 10.6% at S$7.9 million amid heightened F&B competition
[SINGAPORE] Restaurant operator Jumbo Group reported a 10.6 per cent decline in profit to S$7.9 million for the six months ended March 31, down from S$8.9 million in the year-ago period. Its revenue increased by 0.3 per cent from $97.1 million to $97.3 million in the first half of FY2025. This was mainly contributed by…
Read MoreSIA Engineering H2 net profit up 87.3% at S$70.8 million
SIA Engineering (SIAEC) reported an 87.3 per cent jump in net profit to S$70.8 million for the six months ended March 2025 from S$37.8 million in the same period the previous year. The mainboard-listed group’s revenue for the second half rose 15.3 per cent to S$668.9 million from S$580.2 million in the year-ago period, said…
Read MoreCommerzbank profit unexpectedly rises in boost to CEO Orlopp
[FRANKFURT] Commerzbank’s first-quarter profit unexpectedly rose to the highest in 14 years as commissions increased, and the German lender set aside less money than expected for souring loans. Net income increased 12 per cent from a year earlier and operating profit hit a record, Commerzbank said in a statement on Friday (May 9) from Frankfurt.…
Read MoreJapan’s Panasonic targets 10,000 job cuts worldwide
The figure represents around 4% of the firm’s total workforce of nearly 230,000 Published Fri, May 9, 2025 · 05:20 PM [TOKYO] Japanese electronics giant Panasonic said Friday (May 9) it was targeting 10,000 job cuts worldwide as part of efforts to boost productivity among its workforce. The group said it planned to “thoroughly review…
Read MoreIndonesia eyes cut in fuel imports from Singapore as part of tariffs negotiations
Indonesia could shift as much as 60% of its total fuel imports from Singapore to the United States in the early stages Published Fri, May 9, 2025 · 04:18 PM [JAKARTA] Indonesia plans to change the source of some of its fuel imports from Singapore to the United States as part of negotiations over steep…
Read MoreSingapore banks set aside extra allowances to account for heightened uncertainty
[SINGAPORE] The local banking trio have taken extra allowances in their first-quarter 2025 results amid a rise in uncertainty in the macroeconomic environment. DBS, OCBC and UOB each said this was a pre-emptive step to beef up their reserves as they navigate the impact of US tariffs and a possible economic slowdown, even as asset…
Read MoreAsia: Stocks lifted by hopes for US-China talks after UK deal
[HONG KONG] Most Asian equities rose on Friday (May 9) on growing optimism that the worst of US President Donald Trump’s trade war is past after he reached a deal with Britain and suggested he could lower tariffs on China as officials prepare for high-stakes talks this weekend. The mood among investors has improved substantially…
Read MoreNissan drops plan for Fukuoka battery plant to focus on recovery
The company is betting on a broad restructuring and new leadership team helmed by chief executive officer Ivan Espinosa, who took office in April and pledged to turn things around Published Fri, May 9, 2025 · 12:08 PM [TOKYO] Nissan Motor has abandoned plans to build a battery plant in Fukuoka, Japan to focus its…
Read MoreF&N H1 net profit rises 0.3% to S$84.1 million as F&B sales grow
[SINGAPORE] Fraser and Neave (F&N) posted a 0.3 per cent rise in net profit to S$84.1 million for its first half ended Mar 31, from S$83.8 million a year earlier, the food and beverage (F&B) group said on Friday (May 9). Revenue for H1 rose 13.2 per cent to S$1.21 billion, from S$1.07 billion in…
Read MoreFrasers Property H1 profit rises 147.6% to S$142.2 million on tax reversal; revenue rises 2.7%
[SINGAPORE] Frasers Property posted a 147.6 per cent jump in net profit to S$142.2 million for the first half ended Mar 31, 2025, from S$57.4 million in the year-ago period. The surge was largely due to a net tax credit of S$6.1 million, reversing a tax expense of S$117.5 million in the prior year, the…
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