Posts by Mark Darwin
SGX RegCo issues trade with caution alert on 9R
THE Singapore Exchange Regulation Company (SGX RegCo) has urged investors to exercise caution when dealing with shares of 9R. In a trade with caution alert on Wednesday (Nov 13), RegCo noted that the price of 9R shares rose 48.7 per cent or S$0.019 from S$0.039 on Jun 4 to S$0.058 on Aug 14. The counter…
Read MoreJapan’s megabanks see record annual profit after bumper Q2 as rate hikes boost margins
JAPAN’S three megabanks raised their annual profit forecasts to all-time highs on Thursday (Nov 14), fuelled by robust lending demand and higher margins following a July interest rate hike by the Bank of Japan. The lenders, all reporting financial results on Thursday, are benefiting from higher borrowing costs after seven years of negative policy rates…
Read MoreTaiwan tech giant Foxconn posts US$1.5 billion Q3 net profit
Taiwanese tech giant Foxconn on Thursday (Nov 14) reported a forecast-topping net profit for the third quarter on robust demand for artificial intelligence servers and said it expected 2025 to be the “year of AI”. The firm, also known by its official name Hon Hai Precision Industry, is the world’s largest contract electronics manufacturer and…
Read MoreLufthansa plans to cut admin jobs by 20%
GERMAN flag carrier Lufthansa is looking to gradually reduce jobs in administration by 20 per cent as it steels itself against a projected drop in earnings, the Manager Magazin reported on Thursday (Nov 14). The planned job cuts would impact 400 positions, the report said. Lufthansa declined to comment directly on the reported layoffs but…
Read MoreAviva posts 15% rise in 9-months general insurance premiums
BRITISH insurer Aviva posted a 15 per cent rise in general insurance gross written premiums for the first nine months of the year to £9.1 billion (S$15.5 billion) on Thursday (Nov 14) and said it was confident of meeting its group targets. The life, motor and home insurer, whose main businesses are in Britain, Canada…
Read MoreAircraft lessors to continue to be impacted by scale and consolidation
Providing the right amount of value relative to other asset classes is a challenge for lessors THE benefits of scale and the impact of consolidation will continue to shape the aircraft leasing industry over the coming decade, said Andy Cronin, chief executive of Avolon, the world’s second-largest aircraft lessor. Cronin, Avolon’s helmsman with more than…
Read MoreSingapore shares slump at Thursday’s open; STI down 0.3%
SINGAPORE stocks were pulled into negative territory on Thursday (Nov 14) after global equities ended mixed overnight. As at 9.02 am, the Straits Times Index (STI) slid 12.62 points or 0.3 per cent to 3,707.72. Across the broader market, losers outweighed gainers 51 to 45 after 80.6 million securities worth S$69.5 million changed hands. Door…
Read MoreStocks to watch: Jardine C&C, StarHub, First Resources, Civmec, GP Industries, Japan Foods
THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 14): Jardine Cycle and Carriage (Jardine C&C): The investment holding company’s earnings for the first nine months of the year were down slightly year on year, it announced on Wednesday. This was due to currency exchange differences that offset…
Read MoreMeta will face antitrust trial over Instagram, WhatsApp acquisitions
FACEBOOK owner Meta Platforms must face trial in a US Federal Trade Commission (FTC) lawsuit seeking its break-up over claims that it bought Instagram and WhatsApp to crush emerging competition in social media, a judge in Washington ruled on Wednesday (Nov 13). Judge James Boasberg largely denied Meta’s motion to end the case filed against…
Read MoreCivmec wins shiploader project; order book remains above A$800 million
Company cautions that delays to the timing of key project awards in FY2025 is expected to result in lower levels of activity in Q3 and potentially Q4 of FY2025 CONSTRUCTION and engineering services company, Civmec has been awarded a design and construction contract for a new major shiploader. In a bourse filing on Wednesday (Nov…
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