Posts by Mark Darwin
UBS senior banker who pioneered ESG debt swaps leaves firm
He is among a select group of former Credit Suisse bankers who made it into top roles at UBS, after it acquired its troubled Swiss rival last year A SENIOR banker at UBS – best known for his role in pioneering debt-for-nature swaps – has left the firm, said people familiar with the matter. Ramzi…
Read MoreGIC-backed Coda Payments gets MAS’ in-principle nod for major payment institution licence
Holders are allowed to conduct multiple transactions without being subjected to certain threshold limits on transaction volume or float PAYMENTS firm Coda Payments has received in-principle approval from the Monetary Authority of Singapore (MAS) for a major payment institution licence. On Friday (Nov 1), the GIC-backed company said that the in-principle approval marks a “critical…
Read MoreOlam exploring sale of remaining agribusiness stake to Saudis
OLAM Group has received a non-binding indicative offer for its remaining 64.57 per cent stake in Olam Agri from Saudi Agricultural & Livestock Investment Company (Salic), a unit of Saudi Arabia’s Public Investment Fund. Salic currently holds a 35.4 per cent minority stake in Olam Agri after investing US$1.24 billion in the unit. The deal…
Read MoreStocks to watch: Singtel, Wilmar, First Reit
THE following companies saw new developments that may affect trading of their securities on Friday (Nov 1): Singtel: The Australian Competition and Consumer Commission (ACCC) filed court proceedings against Singtel’s subsidiary Optus Mobile over allegations of inappropriate sales conduct. The ACCC is pursuing penalties, consumer redress, a compliance programme and costs from Optus, said the…
Read MoreBoeing 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…
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