Posts by Mark Darwin
CSE Global reports higher revenue for Q3 2024, but order intake falls
The electrification segment has fallen the most, due to the absence of several major projects secured CSE Global reported a 15.4 per cent increase in Q3 2024 revenue to S$213.9 million from S$185.4 million in Q3 2023. The increase was due to higher revenue contributions from all business segments, said the systems integrator in an…
Read MoreSIA Group passenger traffic rises 7.4% in October
Cargo loads are up by 20.2 per cent, while cargo capacity expanded by 14.3 per cent SINGAPORE Airlines (SIA) Group reported a 7.4 per cent year-on-year increase in passenger traffic to 12.9 billion for October 2024, in its latest operating update released on Friday (Nov 15). The national carrier and its low-cost arm Scoot flew…
Read MorePeter Viens, new CEO of IReit Global’s manager, aims to diversify assets to attract institutional investors
The trust’s DPU is expected to drop as its Berlin property undergoes repositioning PETER Viens, the new chief executive officer of the manager of IReit Global, plans to diversify the trust’s assets – which he considers “too small” and lacking visibility – to attract institutional investors. The manager of the Europe-focused real estate investment trust…
Read MoreMusk escalates Altman legal feud, casts OpenAI as monopolist
ELON Musk is ramping up his feud with Sam Altman, alleging in a court filing that OpenAI is trying to corner the market for generative artificial intelligence (AI) and sacrificing safety in a race to get ahead. In a revised version of a lawsuit he filed in August, Musk highlighted antitrust concerns about OpenAI’s journey…
Read MorePC Partner commences trading in Singapore, opens at S$0.85
HONG KONG-based electronics company PC Partner Group began trading on the mainboard of the Singapore Exchange (SGX) on Friday (Nov 15) at S$0.85. As at 11.08am, the counter had gained S$0.025 over its opening price to reach S$0.875, with 2,800 shares traded. It then eased slightly to S$0.865 as at the midday break, with a…
Read MoreBrokers’ take: Maybank downgrades ComfortDelGro to ‘hold’ on acquisition doubts
MAYBANK Securities has downgraded its call on ComfortDelGro to a contrarian “hold”, with a lower price target of S$1.60, from S$1.65 previously. This comes even after the land transport operator reported a positive set of third-quarter results, which the brokerage considered in line with expectations. In a report on Friday (Nov 15), Maybank analyst Eric…
Read MoreDip in Singapore consumers’ trust in general insurers and insurance sales staff: report
THE level of trust Singapore consumers have in general insurers and their intermediaries such as brokers and advisers slipped in 2024, compared with the previous year, a study has found. The 2024 insurance trust indicator study, commissioned by the local insurance sector to help improve confidence and practices, found that consumers’ trust in general insurers dipped to…
Read MoreSingapore shares open lower on Friday; STI down 0.3%
SINGAPORE stocks began Friday (Nov 15) trading in negative territory as markets abroad mostly posted losses overnight. As at 9.01 am, the Straits Times Index (STI) was down 0.3 per cent or 11.83 points at 3,726.33. Across the broader market, losers outnumbered gainers 66 to 37 after 42.3 million securities worth S$65.8 million changed hands. …
Read MoreTesla, Rivian drop on report Trump wants to end EV credit
US automaker stocks fell after Reuters reported President-elect Donald Trump plans to eliminate a key consumer tax credit aimed at boosting electric-vehicle (EV) adoption. Trump’s transition team has been discussing ending the US$7,500 subsidy as part of a broader tax-reform effort, Reuters said, citing unidentified sources with direct knowledge of the matter. Representatives of Tesla…
Read MoreOil settles slightly higher, investors focus on steep draw in fuel stocks
Oil prices closed slightly higher in choppy trading on Thursday (Nov 14), as a steep draw in US fuel stocks outweighed oversupply concerns and demand worries stemming from a stronger dollar. Brent crude futures settled 28 US cents or 0.4 per cent higher at US$72.56 a barrel, while US West Texas Intermediate crude futures rose…
Read More