Posts by Mark Darwin
Ong Beng Seng acquires 150,000 more shares in Hotel Properties for S$537,000
PROPERTY tycoon Ong Beng Seng has acquired 150,000 shares in Hotel Properties Limited (HPL) via an off-market transaction for S$3.58 per share. Following the transaction, his stake in the company increased to 60.22 per cent, up from 60.19 per cent previously, according to a bourse filing on Thursday (Jan 9). Ong now holds a deemed…
Read MoreSustainable growth and rationality to emerge as key themes for e-commerce
MARKET consolidation and new entrants stole the e-commerce industry headlines in 2024. But market watchers say the year ahead will be more rational in this space, with customers across South-east Asia unlikely to continue to enjoy deep discounts on products and shipping, which has been subsidised by the platforms. Last year, the entry of TikTok…
Read MoreWall Street expected to shed 200,000 jobs as AI erodes roles
GLOBAL banks are expected to cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, according to Bloomberg Intelligence. Chief information and technology officers surveyed for BI indicated that on average they expect a net 3 per cent of…
Read MoreFrom banks to tech: The Singapore winners from the Johor-Singapore SEZ
SINGAPORE and Malaysia have established a new Johor-Singapore Special Economic Zone (JS-SEZ) that will drive investments in key sectors. The 11 key sectors are: manufacturing, logistics, food security, tourism, energy, the digital economy, green economy, financial services, business services, education and health. Both countries have aimed for 100 projects in the next 10 years, and…
Read MoreHyundai Motor Group to invest record 24.3 trillion won in South Korea this year
SOUTH Korea’s Hyundai Motor Group said on Thursday (Jan 9) that it planned to boost domestic investment by 19 per cent to a record high of 24.3 trillion won (S$22.8 billion) this year to secure future growth even as it grapples with economic and political uncertainties. Hyundai Motor Group, including Hyundai Motor and Kia, ranks…
Read MoreMaybank initiates Parkway Life Reit at ‘buy’ with S$4.10 target on strong growth prospects
The analyst expects its acquisition in France, in-built rent escalation in Singapore to support DPU growth MAYBANK Securities has initiated coverage on Parkway Life Real Estate Investment Trust (Reit) with a “buy” call and a S$4.10 target price. In a report on Thursday (Jan 9), analyst Krishna Guha noted that even though the stock…
Read MoreThai central bank rebuffs demand for steps to boost inflation
THAILAND’S central bank is comfortable with the outlook for subdued inflation as it focuses the monetary policy to ensure financial stability and economic growth amid rising uncertainties, a senior official said. “Inflation is not even a problem,” Bank of Thailand (BOT) assistant governor Sakkapop Panyanukul said on Wednesday (Jan 8) in Bangkok in his first…
Read MoreSingapore shares retreat at Thursday’s open; STI down 0.5%
SINGAPORE shares started trading in negative territory on Thursday (Jan 9), mirroring overnight losses in European markets. As at 9.01 am, the Straits Times Index (STI) opened 0.5 per cent or 17.85 points lower at 3,869.13. Across the broader market, losers outnumbered gainers 58 to 45 after 25.2 million securities worth S$76.1 million changed hands.…
Read MoreStocks to watch: Suntec Reit, China Everbright Water, Tan Chong International
THE following companies saw new developments that may affect trading of their securities on Thursday (Jan 9): Suntec Real Estate Investment Trust (Suntec Reit): Property tycoon Gordon Tang and his wife Celine have raised their mandatory conditional cash offer to acquire all units of the Reit to S$1.19 apiece. The offer was made solely to…
Read MoreJapan’s Seven & i Holdings reports 24% drop in third-quarter profit
Profit fell to 128 billion yen (S$1.1 billion) in the period from September to November Japan’s Seven & i Holdings, operator of the 7-Eleven convenience store chain, reported on Thursday (Jan 9) a drop of 24 per cent in quarterly operating profit, missing analysts’ estimates. Profit fell to 128 billion yen (S$1.1 billion) in the…
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