Posts by Mark Darwin
Food 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…
Read MoreSingapore stocks rise after breakthrough in US-China talks; STI edges up 0.1%
[SINGAPORE] Local stocks finished Tuesday (May 13) higher after the United States and China announced they would temporarily lower tariffs on each other’s products in a 90-day cool-off period. On the Singapore Exchange, advancers beat decliners 371 to 209, as 1.4 billion securities worth S$2.1 billion changed hands. The benchmark Straits Times Index (STI) gained…
Read MoreAsia: Most markets extend rally in glow of China-US truce
[HONG KONG] Most Asian stocks extended gains on Tuesday as investors continued to bask in the glow of the China-US tariff suspension that has fuelled hopes the world’s two economic superpowers will step back from a punishing trade war. Equity markets across the world rallied with oil and the dollar on Monday after the two sides…
Read MoreUN aviation agency finds Russia responsible for 2014 downing of MH17 over Ukraine
[MONTREAL] The United Nations aviation agency said on Monday that Russia was responsible for the downing of a Malaysia Airlines jetliner over Ukraine in 2014, leading to the deaths of 298 people. The International Civil Aviation Organization (ICAO), based in Montreal, said claims brought by Australia and the Netherlands over the shooting down of Flight…
Read MoreSingapore’s STI jumps 1.8% on US-China tariff truce; bank shares soar
[SINGAPORE] Asian markets continued their rally on Tuesday (May 13) as investors cheered the announcement that the US and China would temporarily lower tariffs on each other’s products in a 90-day cool-off period. Singapore’s Straits Times Index jumped about 1.8 per cent in morning trading to reach 3,944.78, as trading resumed following Monday’s Vesak Day…
Read MoreSeatrium bags floating storage regasification unit conversion contract from Norway’s Hoegh Evi
[SINGAPORE] Seatrium announced on Tuesday (May 13) that it won a floating storage regasification unit (FSRU) conversion contract from Norwegian floating energy infrastructure provider Hoegh Evi for an undisclosed sum. The contract covers the conversion and longevity of liquified natural gas (LNG) carrier Hoegh Gandria to a FSRU which includes the installation of a regasification…
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