Posts by Mark Darwin
LG Energy profits tumble 40% on waning battery-powered car sales
SLUGGISH demand for electric vehicles (EVS) haunted South Korean battery maker LG Energy Solution, dragging its profits down by almost 40 per cent from a year earlier. LG Energy’s operating profit for the three months ended Sep 30 was 448.3 billion won (S$426 million), according to a company statement on Monday (Oct 28). While that…
Read MoreSingapore shares open higher on Monday; STI up 0.1%
SINGAPORE shares began Monday (Oct 28) trading in positive territory as overseas markets clocked mixed results over the weekend. As at 9.03 am, the Straits Times Index (STI) was up 0.1 per cent or 2.85 points to 3,596.26. Across the broader market, gainers outnumbered losers 63 to 55 after 48.2 million securities worth S$52 million…
Read MoreStocks to watch: CapitaLand Ascendas Reit, UOL, Singapore Land, iFast, Q&M Dental
THE following companies saw new developments that may affect trading of their securities on Monday (Oct 28): CapitaLand Ascendas Reit (Clar): The business space and industrial Reit’s portfolio occupancy fell to 92.1% for its third quarter from 93.1 per cent in its previous quarter. Its portfolio rental reversions rose quarter-on-quarter to 14.4 per cent from…
Read MoreBoeing to raise up to US$19 billion in stock offering to shore up finances
BOEING on Monday (Oct 28) launched a stock offering that could raise up to US$19 billion as the planemaker looks to strengthen its finances squeezed by an over month-long worker strike and a year-long safety crisis. The company is offering 90 million in common stock and US$5 billion in depositary shares, that represent an interest…
Read MoreBoeing to raise up to US$22 billion to shore up finances, stave off downgrade
BOEING on Monday (Oct 28) launched a stock offering that could raise up to US$22 billion as the planemaker looks to strengthen its finances squeezed by an over month-long strike by its workers and preserve its investment-grade credit rating. The move will boost Boeing’s battered finances, which have worsened since roughly 33,000 of its workers…
Read MoreIndia beefs up defence production with Airbus plant in Gujarat
INDIA will open its first private military aircraft manufacturing facility on Monday (Oct 28) as the South Asian nation ramps up its local defence production to cut reliance on imports. The factory – a joint venture between Airbus and Tata Advanced Systems – will produce transport aircraft to replace the Indian military’s ageing fleet. Spanish…
Read MorePopular Aussie-Kiwi cross to test year’s high on policy outlook
INVESTORS see the Australian dollar testing this year’s high against its New Zealand counterpart as policymakers diverge on the interest-rate outlook. The currency pair closed at 1.1049 last week, and Westpac Banking forecasts that it will reach 1.1150 by the end of December, near this year’s peak of 1.1152. National Australia Bank (NAB) said it…
Read MoreUnited Hampshire US Reit eyes ‘opportunistic divestments’, accretive acquisitions in growth plans
The CEO of the trust’s manager of the Reit is confident of reaching the target of US$1 billion in assets under management by 2026 SINCE it listed on the Singapore Exchange four years ago, retail-focused United Hampshire US Real Estate Investment Trust (Reit) has seen its assets under management (AUM) jump 30 per cent, from…
Read MoreStimulus matters more than US election for Chinese stocks
Investors inured to years of Sino-American trade spat seem willing to brave the risk of even higher tariffs following the US presidential election, and are favouring Chinese assets on bets for more stimulus. Whether it be Donald Trump or Kamala Harris as the new US leader, global money managers expect escalated hostility towards China. But…
Read MoreSembcorp director participates in well-subscribed EMTN offering
INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions spanning Oct 18 to 24, with S$158 million of net institutional outflow, a similar pace to the preceding five sessions of S$144 million of net outflow. Stocks that led the net institutional outflow were DBS, CapitaLand Integrated Commercial Trust, CapitaLand Ascendas Reit, Genting…
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