Posts by Mark Darwin
First Reit’s Q3 DPU falls 6.5% to S$0.0058 as foreign currencies weaken against Singdollar, unit base grows
FIRST Real Estate Investment Trust (First Reit) posted a 6.5 per cent drop in distribution per unit (DPU) for the third quarter ended Sep 30, 2024, to S$0.0058, from S$0.0062 in the corresponding period in the previous year. This brought the DPU for the nine months year-to-date to S$0.0178, down 4.3 per cent year on…
Read MoreUS: Wall St subdued at open as investors weigh earnings, data
US stock indexes were subdued at the open on Wednesday (Oct 30), as investors assessed mixed earnings reports and data that showed the economy maintained a solid pace of growth in the third quarter. The Dow Jones Industrial Average rose 16.8 points, or 0.04 per cent, at the open to 42,249.81. The S&P 500 fell…
Read MoreBYD Q3 revenue rises 24% year on year to 201.1 billion yuan, eclipses Tesla for first time
BYD notched up another win over Tesla on Wednesday (Oct 30), reporting quarterly revenue that beat Elon Musk’s carmaker for the first time since the pair have gone head to head in global electric vehicle (EV) sales. Revenue for China’s best-selling carmaker soared 24 per cent on year to 201.1 billion yuan (S$37.4 billion) for…
Read MoreChina’s big banks post rise in Q3 profits, squeeze on NIM
CHINA’S largest lenders posted a rise in third-quarter profits on Wednesday (Oct 30), although margins were slimmer for some. The frontrunner was Agricultural Bank of China (AgBank), which reported a 5.88 per cent rise in third quarter net profit. Four of the country’s other biggest banks also reported profit increases of over 1 per cent…
Read MoreWilmar’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…
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