Posts by Mark Darwin
Stocks to watch: Keppel, Sembcorp, Seatrium, Keppel Reit, AcroMeta
THE following companies saw new developments that may affect trading of their securities on Tuesday (Oct 22): Keppel: The asset manager’s private fund has formed a joint venture with digital infrastructure company Digital Decarbonization Solutions Platform to build an 80-megawatt greenfield data centre campus in northern Taiwan. This comes as Keppel is positive on the…
Read MoreProcter & Gamble back in market after record-tight 10-year sale
PROCTER & Gamble (P&G), the maker of Tide laundry detergent and Crest toothpaste, is planning to sell corporate bonds on Monday (Oct 21), according to a source with knowledge of the offering. The sale will be in as many as two parts. The longer portion of the offering, a 10-year fixed-rate security, may yield 0.6…
Read MoreSEC to increase scrutiny of AI tools used by brokers, advisers
THE US Securities and Exchange Commission’s (SEC) examiners will step up scrutiny of financial firms’ use of artificial intelligence (AI) next year, the latest sign of regulators’ growing concerns about the emerging technologies. Investment advisers, brokers, clearing agencies and others can expect the SEC to focus on their statements about AI tools to ensure they…
Read MoreDyna-Mac chief AC Lim stays cool amid takeover offer tussle, remains focused on steady growth
Although he maintains that he is risk-averse, the CEO is already gunning for inorganic expansion should the Hanwha deal fall through DYNA-MAC chief executive officer Lim Ah Cheng – better known in the industry as AC Lim – deserves every accolade. After taking the helm in 2020, he managed to bring the beleaguered offshore oil…
Read MoreMaersk raises profit outlook on strong market
Danish shipping group AP Moller-Maersk said on Monday (Oct 21) it had raised its full-year forecasts on the back of strong third quarter results, robust demand and the continuing disruption to shipping in the Red Sea. Maersk said it had revised its outlook for global container market volume growth in 2024 to around 6 per…
Read MoreDisney to name CEO Bob Iger’s replacement in 2026, taps Morgan Stanley’s Gorman as chair
WALT Disney named Morgan Stanley veteran James Gorman as chair on Monday (Oct 21) and said it would announce a replacement for CEO Bob Iger in early 2026, for the first time announcing a timetable for succession at the storied media and entertainment company. Gorman will step down as executive chair of Morgan Stanley at…
Read MoreUS: Wall Street opens lower as caution prevails ahead of earnings
Wall Street’s main indexes edged lower on Monday (Oct 21), pausing after gains in the previous week ahead of major earnings reports that could influence whether indexes retreat from record highs or sustain the momentum. The Dow Jones Industrial Average fell 53.7 points, or 0.12 per cent, at the open to 43,222.21. The S&P 500…
Read MoreStrong US economy and ‘Trump trades’ boost dollar
THE US dollar climbed on Monday (Oct 21) and cryptocurrency Bitcoin hit a three-month high as a rise in US bond yields and the looming presidential election continued to impact markets. Currency moves last week were driven by the European Central Bank’s dovish rate cut and strong US data that scaled back expectations for how…
Read MoreSyngenta seeks US$3 billion ESG loan, Asia’s biggest this year
AGROCHEMICALS giant Syngenta Group is seeking a US$3 billion sustainability-linked loan, in what would be Asia’s largest US dollar facility linked to environmental, social and governance-related metrics so far this year. The Sinochem-owned company has mandated Agriculture Bank of China, Bank of China, China Construction Bank, Credit Agricole Corporate & Investment Bank, Industrial & Commercial…
Read MoreA lighter brown might be better than total brown in energy transition: Sembcorp CEO
THE chief executive officers of both Sembcorp Industries and Aramco highlighted the need to rely on fossil fuels, such as natural gas, in equitable energy transitions. They are among the many panelists who believe the fossil fuel would make up a greater portion of the energy mix by 2035, during the first day of the Singapore…
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