Posts by Mark Darwin
Miyoshi chief executive slapped with S$22,400 fine for accounting irregularity
THE chief executive and executive director of Miyoshi, Andrew Sin Kwong Wah, has been fined S$22,400 for failing to recognise an impairment loss in its financial statements for the fiscal year ended Aug 31, 2019. The S$16 million impairment loss came from a decline in the value of the company’s equity investment in Core Power…
Read MoreAsia: Markets drift lower as US jobs data looms
EQUITIES fell again in Asia on Friday (Jan 10) as traders prepared for the release of US jobs data that could play a key role in the Federal Reserve’s decision-making on interest rate, with several officials indicating the cutting has finished for now. Markets have started the year cautiously, with the optimism that characterised most…
Read MoreNvidia partnership puts MediaTek stock on course for record high
INCREASED collaboration with Nvidia has pushed investor optimism over the artificial intelligence (AI) growth potential for MediaTek to a new level, putting its shares on track for their first record high in seven months. The stock climbed to within a whisker of its June peak this week after the Taiwanese chip designer announced a tie-up…
Read MoreSingapore shares tumble at the open on Friday; STI down 0.9%
SINGAPORE equities began Friday (Jan 10) in negative territory, driven by losses in banking stocks. European markets gained overnight and US markets were closed for a day. As at 9.01am, the Straits Times Index (STI) fell 33.32 points or 0.9 per cent to 3,829.28. Across the broader market, losers outnumbered gainers 59 to 46, after…
Read MoreThe ‘$’ Behind Starting Your Own Company: Real Costs Revealed
Starting a business sounds like a dream, right? But let’s be real, it’s not just about having a cool idea and running with it. There’s a lot of behind-the-scenes stuff that can catch you off guard. From legal fees to branding costs, it’s a whole package of challenges. And the money? Yeah, that’s a big…
Read MoreMillennium hedge fund spinoff Modular expands to Hong Kong
MILLENNIUM Management spinoff Modular Asset Management plans to expand to Hong Kong, the latest hedge fund arrival as the city tries to defend its status as a global financial hub. Singapore-based Modular, which manages US$1.5 billion and focuses on macro bets, has brought in former Barclays trader Alex Hu Xiuyi as a portfolio manager. Hu…
Read MoreVitol plans to cut costs by taking aluminium from London Metal Exchange warehouses in Malaysia: sources
ENERGY and commodities trader Vitol is attempting to reduce its storage costs with plans to remove significant amounts of aluminium from London Metal Exchange (LME) warehouses in Port Klang, Malaysia, three sources familiar with the matter said. LME approved warehouses charge 56 US cents per metric tonne to store aluminium in Port Klang, about five…
Read MoreFed officials signal interest rates likely on hold for a while
SEVERAL Federal Reserve officials confirmed on Thursday (Jan 9) that the US central bank will likely hold interest rates at current levels for an extended period, only cutting again when inflation meaningfully cools. Boston Fed president Susan Collins said on Thursday a slower approach to adjusting interest rates is merited now as officials confront “considerable…
Read MoreFirm dollar adds pressure to sterling and euro
The US dollar charged ahead on Thursday (Jan 9), underpinned by rising Treasury yields, putting the yen, sterling and euro under pressure near multi-month lows amid the shifting threat of tariffs. The focus for markets in 2025 has been on US President-elect Donald Trump’s agenda as he steps back into the White House on Jan…
Read MoreSats and WFS clinch 14 new cargo and ground handling contracts from Air India
IN-FLIGHT caterer and ground handler Sats and its wholly-owned subsidiary Worldwide Flight Services (WFS) have been awarded 14 new contracts from India flag carrier Air India in major airports around the world, the group said in a bourse filing on Thursday (Jan 9). The Sats group landed these contracts in a global tendering process, which…
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