Posts by Mark Darwin
Wilmar’s Q3 net profit falls 19% to US$254.4 million on weaker contributions from China, sugar division
WILMAR International’s net profit for the third quarter ended Sep 30, 2024, fell 19 per cent to US$254.4 million, from US$313.9 million in the corresponding period a year ago. Its core net profit – which excludes contributions from joint ventures and associates, as well as non-operating gains recognised from the group’s investment securities – declined…
Read MoreAttika Group to list on SGX Catalist, raise S$4.6 million through placement shares
COMMERCIAL interior decoration and mechanical, electrical and plumbing engineering company Attika Group is set to raise S$4.6 million in gross proceeds as it issues 21 million placement shares at S$0.22 per share. The company is expected to list on the Singapore Exchange Catalist board on Nov 8 with a market cap of S$29.9 million based…
Read MoreGoogle’s AI-fuelled gains in cloud bode well for Amazon, Microsoft
GOOGLE-parent Alphabet’s breakout cloud sales in the July-to-September quarter bode well for top cloud providers Microsoft and Amazon.com, and signal that market for AI-aided computing power is only growing. The company’s stock rose 5.5 per cent in premarket trading on Wednesday (Oct 30), a day after Alphabet posted a 35 per cent surge in Google…
Read MoreAustralian lender ANZ launches structural overhaul amid regulatory woes
ANZ Group has unveiled an organisational overhaul, with an aim to streamline operations and enhance data analytics, the Australian lender said on Wednesday (Oct 30) as it sought to address regulatory woes surrounding its oversight of certain operations. ANZ, which will report its annual results on Nov 8, is currently being probed following media reports…
Read MoreKeppel’s private-credit fund raises US$300 million in first close
KEPPEL’S third private-credit fund raised around US$300 million of committed capital in its first close, the global asset manager and operator announced on Wednesday (Oct 30). The fund, known as the Keppel Private Credit Fund III, was launched earlier this year with a target fund size of US$1 billion. Keppel, the fund’s sponsor, said it…
Read MoreToyota sales fell in Japan, China as hybrids see growth in US
TOYOTA Motor’s sales in Japan and China are struggling to shake off a series of challenges, including rising competition from electric vehicle (EV) brands, domestic scandals and recalls abroad, despite strong demand for hybrid vehicles in North America. Global production – including that of subsidiaries Daihatsu Motor and Hino Motors – fell in September by…
Read MoreSnap gains on results suggesting ad revamp is working
SNAP reported third-quarter revenue that slightly topped analysts’ expectations, suggesting the overhaul of its advertising business is catching on with marketers. The shares rose in extended trading. Sales increased 15 per cent to US$1.37 billion in the period ended Sep 30, Snap said on Tuesday (Oct 29). Analysts, on average, estimated US$1.36 billion, according to…
Read MoreSamsung’s sudden US$122 billion wipeout shows the cost of sleeping on AI
JUST a few months ago, Samsung Electronics looked primed to benefit from the global artificial intelligence (AI) boom: profits were surging and its stock was rising towards an all-time high. Now, South Korea’s biggest company has become a stark example of how quickly fortunes can turn in an industry where the spoils go to those…
Read MoreVisa, Coinbase offer real-time crypto purchases via debit cards
VISA customers with eligible debit cards will be able to deposit funds into their Coinbase Global accounts – sometimes instantly – via a partnership announced by the payments giant and crypto exchange. Coinbase already has millions of connections to customers’ debit cards but this new development allows for the real-time flow of funds for customers…
Read MoreEuropean car safety agency snubs BYD’s Atto 3 driver assistance system
EUROPE’S car safety agency has issued a “not recommended” rating to the driver assistance system used in BYD’s Atto 3 EV, dealing a blow to the Chinese automaker as it strives to expand on the continent. The model scored zero on driver monitoring features and performed poorly in preventing undertaking at speeds over 90 kilometres…
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