Posts by Mark Darwin
Boeing makes higher offer to striking workers, vote on Monday: union
US AVIATION giant Boeing has improved the conditions in its contract offer to thousands of striking workers, with a 38 per cent wage increase over four years and a ratification bonus, their union said on Thursday. The International Association of Machinists and Aerospace Workers District 751, which represents more than 33,000 workers who went on…
Read MoreAmazon results beat expectations, powered by cloud
E-COMMERCE giant Amazon reported stronger-than-expected third quarter results on Thursday, with significant growth in cloud computing and a return to profitability in its international segment. The Seattle-based tech titan posted net sales of US$158.9 billion for the quarter ending Sept 30, up 11 per cent from the same period last year, with net profit up…
Read MoreHanwha’s offer for Dyna-Mac shouldn’t be compared to past non-privatisation deals
THERE have been two important developments since Hanwha Ocean SG’s offer for Dyna-Mac was spotlighted by this column three weeks ago. On Oct 14, the offeror – a special-purpose vehicle controlled by Hanwha Ocean and Hanwha Aerospace – increased the offer price from S$0.60 per share to S$0.67 per share. The offeror said that this…
Read MoreHong Kong’s first De-SPAC listing still leaves sector in limbo
AFTER Hong Kong’s first listing of a firm acquired by a special purpose acquisition company, a long line of such deal vehicles in the city continues to struggle to find targets or receive regulatory approval. Singapore-based Synagistics, a digital-commerce platform backed by a unit of Alibaba Group Holding, went public on Wednesday (Oct 30) after…
Read MoreBIS to leave China-backed central bank digital currency project
THE Bank for International Settlements (BIS) said on Thursday (Oct 31) it would quit the cross-border payments platform Project mBridge, raising questions about how the scheme backed by China will evolve at a time of growing geopolitical scrutiny of global transfers. Project mBridge, a collaboration launched in 2021 between the BIS and the central banks…
Read MoreHuawei Technologies reports 13.7% drop in 9-month profit
CHINESE tech giant Huawei reported a drop in net profit despite a jump in revenue on Thursday (Oct 31) for the first nine months of the year, a statement to the Shanghai Clearing House showed. The firm recorded a 13.7 per cent drop in nine-month net profit to 62.9 billion yuan (S$11.7 billion) for the…
Read MoreGoodwill Entertainment Catalist IPO 1.5 times oversubscribed
KARAOKE and live show operator Goodwill Entertainment has announced that its initial public offering (IPO) on the Catalist board of Singapore Exchange has been 1.5 times oversubscribed. In a press release on Thursday (Oct 31), the company said that anchor investors for the IPO are Asew Acquisition, ICH Capital and K-IX Capital. Vincent Toe, CEO…
Read MoreUber issues muted holiday forecast as it hits record profit
UBER Technologies reported weaker-than-expected ride bookings and issued a middling forecast for the holiday quarter, even as it delivered record operating profit. The company posted US$1.06 billion in operating income for the three months ended Sep 30, it said on Thursday (Oct 31), far exceeding estimates for a metric that only turned positive last year. …
Read MoreWinking Studios seeks dual listing on AIM Market
WINKING Studios announced its intention to seek a listing on the AIM Market of London Stock Exchange (LSE) in November to support expansion into western markets. In a bourse announcement on Thursday (Oct 31), the gaming-related company stated its intention to be dual-listed on the secondary boards of the Singapore Exchange and the LSE. Winking…
Read MoreSamsung rises after signalling progress with Nvidia on AI memory
Samsung Electronics declared progress in supplying its most advanced artificial intelligence (AI) memory chips to Nvidia, offering some reassurance to investors who fear the company’s falling further behind SK Hynix in a red-hot market. Samsung’s stock rose as much as 3.6 per cent after an executive told analysts the company has made “meaningful” progress in…
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