Posts by Mark Darwin
Ennoconn Corp garners 63.77% of NeraTel shares at offer close
This comes after Ennoconn had in September agreed to buy 53.38% of the mainboard-listed company A MANDATORY unconditional cash offer by Taiwan-listed Ennoconn Corporation for Nera Telecommuniations (NeraTel) closed with valid acceptances for only 10.39 per cent of NeraTel’s listed shares on Wednesday (Oct 23). As at the close of the offer at 5.30 pm,…
Read MoreUS: Wall St dips at the open as yields rise, earnings weigh
Wall Street’s main indexes opened lower on Wednesday (Oct 23), pressured by rising Treasury yields and as investors focused on earnings from companies including Coca-Cola, Boeing and Starbucks. The Dow Jones Industrial Average fell 222.65 points, or 0.52 per cent, at the open to 42,702.24. The S&P 500 fell 16.7 points, or 0.29 per cent,…
Read MoreHSBC CEO tells staff senior redundancies inevitable after revamp
SOME senior HSBC staff should brace for job cuts after the bank’s latest restructuring, chief executive Georges Elhedery told staff in a memo seen by Reuters on Wednesday (Oct 23). “Inevitably some of our colleagues will face redundancies as we streamline duplicative senior roles,” Elhedery said in the memo after announcing one of the bank’s…
Read MoreSingapore is one step closer to hydrogen-powered electricity supply
ONE of the first hydrogen-ready power plants in Singapore has advanced into its next phase of development, with its project developer in talks with banks to raise funds for the estimated project cost of S$800 million. Industry players, at the same time, are optimistic that Singapore is leading the region to be hydrogen ready and…
Read MoreIndependent financial adviser deems offer for Dyna-Mac ‘fair and reasonable’
THE takeover offer for oil-and-gas contractor Dyna-Mac at S$0.67 a share has been deemed “fair and reasonable” by the independent financial adviser (IFA) of the deal. The adviser, Zico Capital, has thus recommended that shareholders accept the offer, said a bourse filing on Wednesday (Oct 23). In September, South Korean company Hanwha launched a voluntary…
Read MoreDigital Core Reit 9M distributable income rises 9.7% to US$34.5 million
DIGITAL Core Real Estate Investment Trust’s (Reit) distributable income for the nine months ended Sep 30 rose 9.7 per cent to US$34.5 million, from US$31.5 million in the year-ago period, driven by the growth of the artificial intelligence sector. The result, announced on Wednesday (Oct 23), was despite the bankruptcy of the data centre Reit’s…
Read MoreVietnam plans capital injection into Vietcombank to support policy goals
VIETNAM is planning to inject 20.695 trillion (S$1.1 billion) of capital into state-owned commercial lender Vietcombank, the country’s biggest bank, to boost its capacity to support government policy, the deputy prime minister said on Wednesday (Oct 23). The move was in line with the banking industry development plan for 2025 and the 2021-to-2025 restructuring and…
Read MoreHeineken third-quarter beer volumes hit by weak Americas
HEINEKEN reported worse-than-expected beer volumes due to declines in the Americas and Asia-Pacific as consumers failed to ramp up spending. The Dutch brewer said on Wednesday (Oct 23) that volumes rose 0.7 per cent in the third quarter, missing estimates compiled by Bloomberg of 2.02 per cent. Heineken has been struggling with the US…
Read MoreECB starting to debate if rates have to go below neutral: sources
EUROPEAN Central Bank (ECB) policymakers have begun to debate whether interest rates need to be lowered enough to start stimulating the economy, ending years of economic restriction, conversations this week with half a dozen sources indicate. The ECB has been cutting rates quickly this year but policymakers have so far said the goal is a…
Read MoreAscott China forms JV with Jin Jiang Hotels to grow apartment hotel brands in China
THE China business segment of Ascott has entered into a joint venture (JV) with Jin Jiang Hotels to expand their respective apartment hotel brands in China. Ascott China will hold a 50 per cent interest in the JV, with Jin Jiang Hotels (China region) to hold the balance. Ascott, the wholly owned lodging business unit…
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