Posts by Mark Darwin
Lum 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…
Read MoreBankman-Fried’s ex-deputy Wang avoids prison time over crypto fraud
FORMER cryptocurrency executive Gary Wang, who unwittingly wrote the computer code that helped FTX founder Sam Bankman-Fried steal about US$8 billion from customers of the now-bankrupt exchange, was spared prison time by a judge on Wednesday (Nov 20). US district judge Lewis Kaplan announced he would be imposing no prison time at a hearing in…
Read MoreBitcoin climbs closer to US$100,000 on Trump’s support for crypto
BITCOIN closed in on the historic US$100,000 level, fuelled by optimism that President-elect Donald Trump’s support for crypto heralds a boom as the US pivots to friendly regulations in place of a crackdown. The largest digital asset rose more than 3 per cent to a record high of US$97,659 as at 12.57 pm on Thursday…
Read MoreNissan Motor urges UK to ease EV targets amid weak demand
NISSAN Motor urged the UK government on Wednesday (Nov 20) to ease up its electric vehicle (EV) mandate, which encourages manufacturers to move from petrol and diesel vehicles to EVs. Britain’s Zero Emissions Vehicle (ZEV) Mandate, introduced by the former Conservative government, requires at least 22 per cent of an automaker’s new car sales in…
Read MoreStrong US dollar, Trump policies pulling the rug from under some Asian, trade-exposed economies
In short term, the units likely to trend lower against the greenback on Trump’s global trade stance THE US dollar has been jumping strongly against some global currencies since the elections in the United States, and a Trump administration could cause the greenback to continue to strengthen ahead, some analysts say. While a weaker domestic…
Read MoreGold extends gains on Russia-Ukraine jitters
Gold prices inched higher on Thursday (Nov 21) for a fourth consecutive session, supported by safe-haven demand amid the intensifying Russia-Ukraine war, while investors looked for further clarity on the US interest rate outlook. Spot gold was up 0.2 per cent at US$2,654.50 per ounce, as at 0023 GMT. US gold futures rose 0.2 per…
Read MoreStocks to watch: Nio, Singtel
THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 21): Singtel: The telecom group on Thursday announced changes to its senior management, to support new business priorities of its growth plan. Singtel Singapore’s deputy chief executive Anna Yip will relinquish her role to lead an expanded and rebranded…
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