Posts by Mark Darwin
Rex International falls 21.9% to S$0.168 on heavy trading after profit warning
SHARES of multinational oil exploration and production company Rex International fell on Friday (Feb 21) morning in heavy trading after the company said it was expecting to post a net loss in the upcoming release of its financial results. After midday trading break at 1.40 pm, its shares dived to an intraday low of S$0.168,…
Read MoreCitigroup scraps diversity goals, ‘DEI’ term under Trump pressure
CITIGROUP is ending workplace representation goals and removing requirements to interview job candidates from diverse backgrounds, citing pressure from the Trump administration. The bank will no longer have “aspirational representation goals” except as required by local law, and abandon a policy for diversity in candidates and interview panels, according to a memo to staff from…
Read MoreBillionaire investor Ryan Cohen boosts stake in Alibaba to US$1 billion: WSJ
BILLIONAIRE investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba Group to roughly US$1 billion in recent months, The Wall Street Journal (WSJ) reported on Thursday (Feb 20), citing sources familiar with the matter. Cohen’s position represents about seven million shares, the report said. Alibaba and Cohen did not immediately respond…
Read MoreSingapore shares muted at Friday’s open; STI down 0.02%
SINGAPORE stocks opened nearly flat on Friday (Feb 21) morning as global markets recorded declines overnight. As at 9.03 am, the Straits Times Index (STI) was down 0.02 per cent or 0.68 point at 3,926.83. Across the broader market, losers outnumbered gainers 66 to 62 after 64.7 million securities worth S$118.4 million changed hands. Foundation…
Read MoreStarHub H2 net profit up 7.5% at S$78.4 million
STARHUB on Friday (Feb 21) posted a net profit of S$78.4 million for the second half of its financial year ended December, up 7.5 per cent from S$72.9 million in the previous corresponding period. This translates to an earnings per share of S$0.043 for the recorded period, up from S$0.04 in H2 2023. The…
Read MoreSeatrium achieves first full-year profit with S$120.9 million H2 earnings
SEATRIUM swung into the black with a net profit of S$120.9 million for the second half ended Dec 31, from a net loss of S$1.8 billion in the same period a year earlier. Together with a H1 turnaround, the offshore and marine specialist marked its first full-year profit since its birth in 2023. The H2…
Read MoreBirkenstock slumps as unchanged outlook overshadows sales boost
BIRKENSTOCK Holding shares fell after the German shoe company opted to keep its outlook unchanged, even as sales of its high-end sandals and clogs jumped more than expected in the first quarter. The company’s shares fell as much as 7.3 per cent in early trading in New York, the most since August, as some analysts…
Read MoreBusiness for Sale: Buy Your Dream or Your Nightmare?
Buying an existing business can be a shortcut to achieving your entrepreneurial dreams, but it’s not always smooth sailing. Sure, it can save you from starting from scratch, but it also comes with its own set of challenges. From understanding why the business is up for sale to digging deep into financial and legal details,…
Read MoreAnt Group’s profit rises with Jack Ma back in the public eye
ANT Group’s quarterly profit surged more than 50-fold after it benefited from an investment gain, a major boon for the Chinese fintech giant founded by Jack Ma. The Hangzhou-based online finance firm contributed nearly 4.49 billion yuan (S$828 million) of profit to Alibaba Group Holding. Considering Alibaba’s one-third stake in Ant, that translates to an…
Read MoreAirbus sets modest 2025 jet delivery goal amid supply snags
AIRBUS struck a cautious note for this year, with an aircraft delivery target that’s at the low end of analysts’ estimates while trade tensions and an ailing space business also cloud its outlook. The European planemaker is targeting about 820 handovers for 2025, it said on Thursday (Feb 20) as Airbus reported annual results. That…
Read More