Posts by Mark Darwin
Frasers Property offers to privatise FHT for S$0.71 per share
[SINGAPORE] Frasers Hospitality Asset Management, as the manager of Frasers Hospitality Trust (FHT), announced on Wednesday (May 14) the proposed privatisation of the stapled securities group for S$0.71 per scheme stapled security via a trust scheme of arrangement. The manager in a company statement released on Wednesday explained that the macroeconomic environment has undergone further…
Read MoreIFA’s holding company discounts in offer based on study of 11 SGX-listed mid to large-cap conglomerates: Sinarmas Land
[SINGAPORE] Sinarmas Land defended the valuation methods used by the independent financial adviser (IFA) in the offer by Lyon Investments for shares in the company, in its response to queries by Singapore Exchange Regulation (SGX RegCo) on Tuesday (May 13). The company, after consulting the adviser W Capital Markets, said that the IFA had deemed…
Read MoreCapitaLand Investment’s Ascott to create over 12,000 jobs globally with over 300 new property openings
[SINGAPORE] Ascott, the lodging business of CapitaLand Investment (CLI), expects to create more than 12,000 jobs – including 1,500 property leadership roles – to support the opening of over 300 properties by 2028. It will launch talent development efforts in preparation, the company said on Wednesday (May 14). Of over 300 property openings, more than…
Read MoreCommonwealth Bank of Australia reports higher cash profit, stable margin in third quarter
COMMONWEALTH Bank of Australia (CBA) reported a 6 per cent rise in third-quarter cash earnings on Wednesday, helped by growth in lending volumes and higher trading income, and said its margins were stable. Cash net profit after tax for the country’s biggest lender was about A$2.6 billion (S$2.2 billion) for the three months ended March…
Read MoreAsian Pay TV Trust Q1 profit falls 47.2% amid steeper basic TV competition
[SINGAPORE] Asian Pay Television Trust (APTT) posted a first-quarter net profit of S$7.3 million, down 47.2 per cent from S$13.8 million in the previous corresponding period. Revenue fell 6.5 per cent on the year to S$59.4 million from S$63.5 million, the trustee-manager said in a bourse filing on Wednesday (May 14). This was despite broadband…
Read MoreStocks 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…
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