Posts by Mark Darwin
Stocks to watch: Thai Beverage, BRC Asia, TSH Resources, Lum Chang
THE following companies saw new developments that may affect trading of their securities on Friday (Nov 22): Thai Beverage (ThaiBev): The beverage company posted a net profit of 27.2 billion baht (S$1.1 billion) for its full year ended Sep 30, a slight drop of 1 per cent from 27.4 billion baht a year earlier. This…
Read MoreCharles Schwab eyes spot crypto trading once regulations change
CHARLES Schwab’s incoming chief executive officer, Rick Wurster, said the firm is looking to offer spot cryptocurrency trading once US regulations make doing so easier – something that’s more likely once President-elect Donald Trump takes office. “We will get into spot crypto when the regulatory environment changes, and we do anticipate that it will change,…
Read MoreSMIC’s Nvidia-beating 120% stock rally faces chip war threats
SEMICONDUCTOR Manufacturing International Corporation’s (SMIC) stock has more than doubled over the past two months on an expected boost from China’s self-reliance push, even amid risks tied to competition and geopolitical tensions. Shanghai-listed shares of China’s largest outsourced chipmaker are up 120 per cent from a September low, trouncing global sector names including Nvidia and…
Read MoreGap raises annual sales target betting on steady holiday demand
GAP raised its annual sales forecast on Thursday (Nov 21) and said the holiday season was off to a “strong start”, sending its shares up nearly 14 per cent in extended trade. Gap’s reported sales grew for a fourth consecutive quarter, and the company also topped profit expectations as it executes a turnaround under CEO…
Read MoreUS: Wall St opens higher after jobless claims data, Nvidia results
Wall Street’s main stock indexes opened higher on Thursday (Nov 21) after data reflected a robust labour market, and AI-heavyweight Nvidia advanced after reporting upbeat quarterly results and forecast. The Dow Jones Industrial Average rose 130.2 points, or 0.30 per cent, at the open to 43,538.7. The S&P 500 rose 23.5 points, or 0.40 per…
Read MoreThaiBev’s FY2024 net profit dips 1% to 27.2 billion baht
THAI Beverage (ThaiBev) posted a net profit of 27.2 billion baht (S$1.1 billion) for its full year ended Sep 30, a marginal 1 per cent drop from 27.4 billion baht a year ago. The beverage manufacturer on Thursday (Nov 21) said that its net profit was weighed down by a decrease in earnings from the…
Read MoreLum Chang proposes listing interior fit-out business on Singapore Catalist
CONSTRUCTION company Lum Chang is mulling over plans to spin off its interior fit-out business in a listing on the Singapore Exchange’s Catalist board. Lum Chang Interior (LCI) is a majority-owned indirect subsidiary of the company. Lum Chang’s current aggregate effective shareholding in LCI is 80 per cent, through its wholly owned subsidiary Lum Chang…
Read MoreAlibaba integrates e-commerce platforms into a single business unit
ALIBABA Group will integrate all of its e-commerce platforms into a single business unit to be called the Alibaba E-commerce Business Group, it said in a stock exchange filing on Thursday (Nov 21). It marks the first time the group’s domestic Chinese e-commerce group and its international e-commerce platforms will be integrated. The new group…
Read MoreCLI to invest up to A$1 billion to grow funds under management in Australia
CAPITALAND Investment (CLI) will commit up to A$1 billion (S$878 million) to grow its funds under management (FUM) in Australia, said the group on Thursday (Nov 21). Currently, it has more than A$9 billion of assets under management (AUM) in the country across logistics, business parks, lodging and commercial assets. Andrew Lim, group chief operating…
Read MoreChinese healthcare businesses wade into South-east Asia for cost-efficiency, growth
Beijing-based healthcare private equity firm with US$3.4 billion AUM aims to set up a fund for companies from China to expand into region [HAIKOU] Geopolitical tensions are driving Chinese healthcare companies to hunt for new markets to expand into. And more are now headed south – into South-east Asia’s emerging markets. To capture a slice…
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