Posts by Mark Darwin
China’s CATL unveils new battery for extended-range hybrids
CHINESE battery giant CATL on Thursday (Oct 24) launched its first battery product focused on extended-range hybrids at a time when this category of electrified cars is seeing the fastest growth in sales among all segments. The battery, known as Freevoy, is the world’s first hybrid battery with a range of over 400 km, according…
Read MoreHorizon Robotics’ shares jump 38% in Hong Kong after US$696 million IPO
SHARES of Horizon Robotics jumped nearly 38 per cent early in their trading debut in Hong Kong on Thursday (Oct 24), adding to optimism over a revival in initial public offerings (IPOs) in the Asian financial hub. The stock opened at HK$5.12, versus an issue price of HK$3.99. The US$696 million IPO of the Chinese…
Read MoreLas Vegas Sands to pump in US$8 billion to develop MBS expansion project
LAS Vegas Sands (LVS) – the parent company of Singapore’s Marina Bay Sands (MBS) – is set to invest US$8 billion in the integrated resort’s (IR) expansion project dubbed “Marina Bay Sands IR2”. The massive project includes a fourth hotel tower with a sky roof, a 15,000-seat entertainment arena, and additional premium Mice (meetings, incentives,…
Read MoreSeven & i seeks to convince investors sales will double by 2030
SEVEN & i Holdings’s plan to split in two and expand abroad will help the retailer almost double group revenue, chief executive officer Ryuichi Isaka said in an appeal to shareholders as Alimentation Couche-Tard seeks to buy the Japanese convenience-store operator. The retailer aims to reach 30 trillion yen (S$197 billion) in group sales by…
Read MoreAustralia’s Fortescue record Q1 iron ore shipments marred by cost pressures
AUSTRALIA’S Fortescue, the world’s fourth-largest iron ore miner, on Thursday (Oct 24) posted a 4 per cent rise in its first-quarter iron ore shipments but flagged rising costs at its mines while realised prices had fallen, sending its shares to a two-week low. First-quarter iron ore shipments reached a record high of 47.7 million tonnes,…
Read MoreStocks to watch: Keppel, Mapletree Logistics Trust, ComfortDelGro, Hotel Properties Ltd
THE following companies saw new developments that may affect trading of their securities on Thursday (Oct 24): Keppel: The group on Thursday said its net profit for the third quarter ended September 2024 was lower year on year, as the prior quarter had benefited from valuation and divestment gains in the connectivity segment. Excluding the…
Read MoreKeppel’s ‘moat’ gives it an edge in the data centre business: CEO
KEPPEL’s access to greener infrastructure and funds has created a “moat” and given the company an edge in the data centre business, noted its chief executive officer Loh Chin Hua. “Through our infrastructure division, we have direct access to renewables, low-carbon energy and liquid cooling solutions, which are important for sustainable data centre operations,” he…
Read MoreNvidia supplier SK Hynix posts record Q3 profit, beats forecasts
SOUTH Korea’s SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier saw strong sales of its advanced chips such as high bandwidth memory (HBM) ones used in generative AI chipsets. The world’s second-biggest memory chipmaker reported a 7 trillion won (S$6.7 billion) operating profit for the July-September quarter versus a 1.8…
Read MoreServiceNow sales growth fails to impress AI-hungry investors
SERVICENOW reported strong third-quarter sales and bookings, but failed to clear the lofty expectations of investors looking for a bigger boost from artificial intelligence (AI). Subscription sales, which account for the bulk of ServiceNow’s revenue, increased 23 per cent to US$2.7 billion in the period, the company said on Wednesday (Oct 23). Current remaining performance…
Read MoreGucci-owner Kering posts 16% fall in Q3 sales on weak China demand
FRENCH luxury goods group Kering warned on Wednesday its full-year operating income would almost halve after reporting a larger-than-expected drop in third quarter sales, as weak demand in China deepened the struggles of its main label Gucci. Revenue for the group which also owns fashion brands Saint Laurent, Balenciaga and Bottega Veneta, was 3.79 billion…
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