Posts by Mark Darwin
1MDB sues Amicorp for over US$1 billion for allegedly facilitating US$7 billion fraud
The lawsuit seeks damages of more than US$1 billion from the financial services provider SCANDAL-HIT Malaysian state fund 1MDB and its subsidiaries have filed a claim against Amicorp and co-founder Toine Knipping for allegedly facilitating more than US$7 billion in fraudulent transactions. The lawsuit accuses Amicorp, a Hong Kong-based financial services provider, of playing “a…
Read MoreJapan’s bond market is set to absorb biggest supply in a decade
INVESTORS are set to face the largest supply of Japanese sovereign bonds in at least a decade as the central bank plans to shrink its balance sheet, adding to debtholders’ woes from rising interest rates. The Ministry of Finance typically releases a plan in late December on the amount of debt it will sell in…
Read MoreHonda, Nissan formalise merger talks, aim to combine by 2026
Honda Motor and Nissan Motor took their first historic steps toward merging to create a new force in the world’s automotive industry, as aggressive competition from China forces legacy carmakers to rethink their business models. The two Japanese auto manufacturers signed a basic agreement for merger talks on Monday (Dec 23), according to a joint…
Read MoreOCBC, UOB to pay out second cost-of-living bonuses for junior staff
FOR the second year in a row, OCBC and UOB will each be giving out a one-off payment to its junior employees to help them cope with ongoing cost-of-living pressures. About S$7.5 million will be distributed among close to 11,000 employees across OCBC and its subsidiaries including Bank of Singapore and OCBC Securities, or 40…
Read MoreAsia: Markets track Wall Street rally as US inflation eases rate worries
ASIAN markets rose on Monday (Dec 23)after big gains on Wall Street, with traders welcoming below-forecast US inflation data that tempered worries that the Federal Reserve will take a more hawkish tone with interest rates next year. A holiday-thinned week got off to a healthy start after last week’s sell-off sparked by the US central…
Read MoreSingPost falls by over 8% in early trade after 3 senior execs were fired
Shares of Singapore Post (SingPost) fell sharply on Monday (Dec 23) following the exit of three of the group’s top three executives. As at 9.04 am, the counter dipped 8 per cent or S$0.045 to S$0.515, with 10.6 million securities changing hands. At 9.26 am, it was the second-most traded counter by volume, The employment…
Read MoreTalkMed receives privatisation offer for S$0.456 per scheme share
TERTIARY healthcare services provider TalkMed Group on Monday (Dec 23) announced that it has received a privatisation proposal from TW Troy, a special purpose vehicle managed by Tamarind Health. The offer by TW Troy is made by way of scheme of arrangement. It is offering S$0.456 in cash per scheme share. This represents a 20…
Read MoreTalkMed receives S$0.456 per share in privatisation offer via scheme of arrangement
TERTIARY healthcare services provider TalkMed Group on Monday (Dec 23) announced that it has received a privatisation proposal from TW Troy, a special purpose vehicle managed by Tamarind Health. The offer by TW Troy is made by way of scheme of arrangement. It is offering S$0.456 in cash per scheme share. This represents a 20…
Read MoreApple’s US$1 billion investment may be fleeting win for Indonesia
INDONESIA claimed victory after Apple offered to increase its investment in the country to US$1 billion to get President Prabowo Subianto’s government to lift a ban on the sale of iPhone 16s. The win may be short-lived. Using a protectionist playbook to get companies to build factories could end up sidelining South-east Asia’s largest economy…
Read MoreBitcoin approaching first weekly decline since Trump’s victory
BITCOIN is headed towards its first weekly decline since Donald Trump’s victory in last month’s US election as a cautious Federal Reserve policy outlook tempers optimism sparked by the president-elect’s embrace of the crypto sector. The largest digital asset was down more than 7 per cent for the seven-day period till 2.50 pm on Sunday…
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