Posts by Mark Darwin
Quick takes: What observers are saying about the CDL boardroom tussle
One observer says the group could have better corporate governance, while another says its core businesses will remain unaffected A BATTLE for board control erupted within property giant City Developments Limited (CDL) on Wednesday (Feb 26), pitting father and son against each other in the Kwek-family controlled company. Executive chairman Kwek Leng Beng issued a…
Read MoreChina Aviation Oil H2 profit falls 8.1% to US$36 million
CHINA Aviation Oil (CAO) reported a 8.1 per cent fall in net profit to US$36 million for the second half ended Dec 31, from US$39.1 million in the previous corresponding period. This was mainly attributed to a decrease in gross profit, partially offset by a fall in expenses, said the jet fuel trader on Thursday…
Read MoreHong Kong exchange’s 2024 profit rises 10% on higher trading revenues
HONG Kong’s bourse operator reported on Thursday a 10 per cent rise in profit in 2024, beating forecasts, bolstered by a sharp jump in trading revenues after China’s announcement of economic stimulus measures boosted investor sentiment. The exchange also benefitted from an increased momentum in new listings, particularly in the second half of the year,…
Read MorePepsiCo’s Apac CEO Tan Wern-Yuen to join Hillhouse Investment
PEPSICO’S Asia-Pacific CEO and global chief commercial officer, Tan Wern-Yuen, is set to join private equity firm Hillhouse Investment in March. The Business Times understands that the executive will lead the global consumer and retail team at Hillhouse. The firm has more than US$100 billion in assets under management. In a LinkedIn post on Feb…
Read MoreBain Capital mulls US$10 billion sale of Rocket Software: sources
PRIVATE equity firm Bain Capital is weighing options, including a sale, for Rocket Software that could value the US automation software provider at as much as US$10 billion, including debt, sources familiar with the matter said. Bain’s deliberations come as the artificial intelligence boom is forcing large corporations to increase their technology spending to upgrade…
Read MoreHeavy selling wipes S$1.5 billion off Yangzijiang Shipbuilding’s value as its shares plummet 16%
Shares of Yangzijiang Shipbuilding dived around 16 per cent on Thursday (Feb 27) morning, a day after it posted earnings and in a week when the US proposed to slap fees on Chinese-built vessels entering US ports. Just past 10 am, the shares of the Singapore-listed maritime vessel maker plummeted to roughly S$2.28, building from…
Read MoreAcrophyte Hospitality Trust’s H2 DPS falls 46.7% to US$0.01026
Revenue for the period declines 5.2% year on year to US$84.9 million from US$89.5 million ACROPHYTE Hospitality Trust’s distribution per stapled security (DPS) for the half year ended December 2024 was down 55.9 per cent at US$0.00848, from US$0.01929 in H2 FY2023. The distribution will be paid out on Mar 28, after the record date…
Read MoreBumitama Agri’s H2 profit climbs 13.5% to 1.43 trillion rupiah
INDONESIAN palm oil producer Bumitama Agri posted a 13.5 per cent increase in net profit to 1.43 trillion rupiah (S$116.9 million) for the second half ended December, from 1.26 trillion rupiah in the previous corresponding period. This translates to earnings per share of 825 rupiah for H2 2024, up from 727 rupiah in the year-ago…
Read MoreSembcorp H2 profit rises 14% to S$471 million
SEMBCORP Industries on Thursday (Feb 27) reported a 14 per cent rise in total net profit to S$471 million for the second half ended Dec 31, 2024, from S$412 million in the year-ago period. This accounts for exceptional items including disposal of assets and a gain on a “bargain purchase” on an acquisition in India,…
Read MoreNvidia’s solid earnings report falls short of blowout level
NVIDIA, the chipmaker at the centre of an artificial intelligence (AI) spending boom, gave solid quarterly results and a bullish revenue forecast for the current period, even if the numbers did not reach the blowout level that some investors were banking on. Sales will be about US$43 billion in the fiscal first quarter, which runs…
Read More