Posts by Mark Darwin
Stamford Land returns to black with H1 profit of S$15.2 million
This is largely due to the absence of a S$71.2 million fair value loss on investment property recorded a year ago PROPERTY company Stamford Land on Friday (Nov 8) posted a net profit of S$15.2 million for the six months ended Sep 30, reversing into the black from a loss of S$14.6 million in the…
Read MoreSingapore Airlines Q2 profit falls 59% to S$290 million on weaker operating performance
NATIONAL carrier Singapore Airlines on Friday (Nov 8) reported net profit of S$290 million for the second quarter ended Sep 30, sliding 59 per cent from S$707 million in the corresponding year-ago period. This is despite revenue for the period adding 2 per cent to S$4.8 billion, from S$4.7 billion a year ago. The lower…
Read MoreRichemont profit slumps on weak China demand for luxury watches
RICHEMONT reported a slump in profit in the first half as the Swiss luxury group’s watchmaking division suffered from cooling demand in China. The Cartier owner reported 2.2 billion euros (S$3.1 billion) in operating profit as sales at constant currencies were stable for the six months through September. Analysts expected operating profit of 2.47…
Read MoreUS Fed’s rate cut brings ‘relief’ to Asian markets, but long-term uncertainty under Trump remains
Observers expect volatility in the markets until there is greater clarity on Trump’s policies THE latest rate cut by the US Federal Reserve is expected to bring “some relief” to Asian and Singapore equity markets, with upsides for the property and consumer sectors. However, the longer-term outlook for markets in view of a Donald Trump…
Read MoreJAL-Sumitomo JV secures right to place order for up to 100 Archer air taxis
ARCHER Aviation said on Thursday (Nov 7) a joint venture (JV) between Japan Airlines and Sumitomo had secured the right to place orders for up to 100 of its electric air taxis worth US$500 million. Shares of Archer Aviation rose 7 per cent in morning trading. If placed, the order from the joint venture, Soracle,…
Read MoreDividends preferred over share buybacks for shareholder returns: OCBC CEO Helen Wong
The bank aims to keep its excess capital as dry powder to support franchise flows and potential inorganic growth opportunities that may pop up OCBC prefers to give dividends over share buybacks to return excess capital to shareholders, said chief executive Helen Wong. “It is the same results (as) doing shareholder returns, but I keep…
Read MoreShare buybacks, more dividends among options to deploy capital: UOB chief Wee Ee Cheong
The bank is open to investing it in growth, or returning it to shareholders through share buybacks or more dividends, he says UOB is actively looking to manage its capital, and hopes it can find ways to take “full advantage” of the excess by the end of this year, its chief executive Wee Ee Cheong…
Read MoreJTC in S$46.2 million buyback of Mercedes-Benz’ logistics property in Tuas
The luxe carmaker’s offer to give up the balance lease on site is seen as the result of its opening of a parts logistics centre in Johor MERCEDES-BENZ Singapore is selling the balance lease of its property at 301 Jalan Ahmad Ibrahim to JTC Corporation. JTC is paying S$46.2 million to buy back the balance…
Read MoreBlackRock in talks to buy minority stake in Millennium: sources
BLACKROCK is in early-stage talks with Millennium Management about a strategic tie-up that could involve acquiring a minority stake in the hedge fund, two sources familiar with the matter said. The sources said it was not clear whether the talks would result in a deal, with one of them adding that the strategic rationale of…
Read MoreSea needs more than good earnings to sustain 175% comeback rally
AFTER a peer-beating 175 per cent stock rally from its January low, South-east Asia’s top online shopping company Sea faces a high bar to impress investors with its upcoming third-quarter earnings report. The Singapore-based firm is expected to deliver solid results next Tuesday (Oct 12), with its e-commerce arm Shopee moving into the black on…
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