Posts by Mark Darwin
PepsiCo’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 MoreTrump axes Chevron‘s Venezuela oil license, citing lack of electoral reforms
US PRESIDENT Donald Trump on Wednesday said he was reversing a license given to Chevron to operate in Venezuela by his predecessor Joe Biden more than two years ago, accusing President Nicolas Maduro of not making progress on electoral reforms and migrant returns. In a post on Truth Social, Trump said he was “reversing the concessions” of…
Read MoreTwo new CDL directors will not exercise any powers until further notice from court: Kwek Leng Beng
THE two new directors appointed by CDL’s board have undertaken not to exercise any powers as directors until further notice, said CDL executive chairman Kwek Leng Beng in a surprise statement late on Wednesday night (Feb 26). He said that “…following a court hearing today, the serious lapses of corporate governance at CDL have now…
Read MoreGM to increase dividend by 25%, buy back another US$6 billion of shares
The US automaker expects EV operating losses will narrow this year by US$2 billion from undisclosed levels GENERAL Motors said on Wednesday (Feb 26) it would increase its quarterly dividend by 25 per cent and undertake a new US$6 billion share buyback program to return excess cash and increase shareholder value. Shares of the automaker…
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