Posts by Mark Darwin
China Everbright issues first tranche of medium-term notes for 2025
CHINA Everbright Water has issued its first tranche of medium-term notes (MTNs) for 2025 with a principal amount of 1.5 billion yuan (S$279.6 million) and a 1.78 per cent coupon rate. In a filing on Wednesday (Jan 8), the dual-listed environmental services group said that the first tranche of the 2025 MTNs comes with a…
Read MoreJapan’s Seven & i deal related to national security: economy minister
JAPANESE economy minister Ryosei Akazawa said on Wednesday (Jan 8) he believed a potential foreign acquisition of retail giant Seven & i was a matter “heavily related” to national security. The owner of 7-Eleven convenience stores has rejected a US$47 billion buyout offer from Canada’s Alimentation Couche-Tard and the retailer’s founding family is in talks…
Read MoreVW managers to take combined 300 million euro pay cut: report
VOLKSWAGEN’S management will take pay cuts adding up to over 300 million euros (S$423.4 million) by 2030, according to comments by VW human resources board member Gunnar Kilian to local paper Braunschweiger Zeitung published on Wednesday (Jan 8). Volkswagen’s board would take a larger cut proportional to their salary than the rest of management or…
Read MoreDBS shares reach S$45 for the first time
Shares of Singapore’s biggest bank DBS soared to S$45 for the first time on Wednesday (Jan 8). The stock was trading at S$45.14 in the afternoon, rising about 1.5 per cent. About 3.1 million shares changed hands. DBS shares have hit record highs a few times late last year, on the back of strong earnings.…
Read MoreTikTok, Alibaba push Indonesia e-commerce pioneer Bukalapak into retreat
INDONESIAN e-commerce pioneer Bukalapak.com will stop selling physical goods, underscoring the cut-throat competition in a market where the likes of ByteDance’s TikTok Shop and Sea’s Shopee are vying for users. Bukalapak will focus on sales of virtual products such as mobile credits and electricity tokens, it said. Buyers will not be able to place orders…
Read MoreHong Kong Airport Authority sells record HK$18.5 billion of bonds
THE Airport Authority of Hong Kong sold HK$18.5 billion (S$3.3 billion) of bonds in the largest-ever issuance in the financial hub’s local currency, amid a sluggish recovery in the aviation sector and delays to the airport’s expansion plan. The Hong Kong government’s statutory body priced three-year, five-year, 10-year and 30-year notes yielding 4.05 per cent,…
Read MoreMicron invests US$7 billion in Woodlands advanced packaging site; 1,400 jobs to be created
MICRON Technology broke ground on its high-bandwidth memory (HBM) advanced packaging facility on Wednesday (Jan 8) in Singapore, adjacent to its existing facilities in Woodlands. The company will invest US$7 billion in the facility “through the end of the decade and beyond”, creating around 1,400 jobs. As part of future site expansions, 1,600 more jobs…
Read MoreCenturion surges 6.3% after news that it is exploring a Reit listing
SHARES of accommodation assets operator Centurion surged 6.3 per cent on Wednesday (Jan 8) following the previous day’s news that it is exploring a real estate investment trust (Reit) listing on the Singapore Exchange (SGX). At 9.39 am, the counter had advanced 6.3 per cent or S$0.06 to S$1.02 from Tuesday’s closing price of S$0.96,…
Read MoreJPMorgan quits climate finance group, following Citi, Bank of America
JPMORGAN Chase just became the last of Wall Street’s biggest banks to abandon the industry’s largest climate-finance alliance. The No 1 US bank by assets said in an e-mail on Tuesday (Jan 7) that it will no longer be a member of the Net-Zero Banking Alliance (NZBA). JPMorgan’s exit marks the latest blow to NZBA.…
Read MoreStoneweg E-Reit’s portfolio value inches up 0.3% in H2 2024
STONEWEG European Real Estate Investment Trust’s (Stoneweg E-Reit) portfolio valuations crept up 0.3 per cent for the second half of the year compared to June 2024, to about 2.2 billion euros (S$3.1 billion). This comes amid stabilising conditions in Europe, as well as higher rental growth, lower risk-free rates and improved financing conditions for some…
Read More