Posts by Mark Darwin
Parkway Life Reit posts 2.8% higher Q3 DPU of S$0.1130
PARKWAY Life Reit on Wednesday (Oct 16) reported a 2.8 per cent rise in distribution per unit (DPU) to S$0.1130 for the third quarter of 2024, up from S$0.1099 in the year-ago period. The increase came despite a 2.1 per cent year-on-year decline in net property income (NPI) to S$102.4 million, which was primarily due…
Read MoreKKR to launch sale of Goodpack in deal estimated at US$1.8 billion: sources
KKR is set to launch the sale of Singapore-based Goodpack in a deal that could value the provider of shipping containers and logistics services at around US$1.8 billion, people with knowledge of the matter said. The private equity giant has hired Deutsche Bank and Rippledot to advise on the sale and a formal process will…
Read MoreGlobal fund managers pare India allocation in favour of China: BofA survey
GLOBAL fund managers increased their allocation to China at India’s expense after Asia’s largest economy unleashed a stimulus package, according to a survey conducted by BofA Securities. Last Saturday, China pledged to significantly increase debt to revive its sputtering economy. China’s central bank in September announced the most aggressive monetary support measures since the pandemic. …
Read MoreBill Hwang’s sentencing in Archegos case postponed to November
ARCHEGOS Capital Management founder Bill Hwang’s sentencing on fraud charges was postponed from the end of the month to Nov 20. Hwang and former Archegos chief financial officer Patrick Halligan were originally scheduled to be sentenced by US District Judge Alvin Hellerstein on Oct 28, but their lawyers asked for more time to prepare submissions. …
Read MoreASML cuts forecasts in Q3 earnings published early; shares fall
COMPUTER chip equipment maker ASML reported on Tuesday (Oct 15) third-quarter earnings that surprised markets with weak bookings and lower than expected sales forecasts for 2025, sending the company’s shares to their biggest one-day drop since 1998. The company said that despite a boom in AI-related chips, other parts of the semiconductor market remained weak…
Read MoreFood Innovators’ IPO fully subscribed, public offer 6.3 times subscribed
In total, the private placement and public tranches have a subscription rate of 1.4 times. THE initial public offering of Japanese food and beverage (F&B) operator Food Innovators Holdings (FIH) closed with 14 million of its new shares fully subscribed at S$0.22 apiece. FIH said on Tuesday (Oct 15) that there were 264 valid applications…
Read MoreStraits Trading Company sets up S$55 million multicurrency debt issuance programme
THE Straits Trading Company (STX) on Tuesday (Oct 15) announced a new S$55 million multicurrency debt issuance programme, to issue digital securities. Such digital securities will be issued and/or listed by the company on the digital platforms operated by Singapore’s Digital Asset Exchange (SDAX). Under the programme, the conglomerate-investment company said that it may, at…
Read MoreSIA Group passenger capacity up 9.7% in September, outpacing passenger traffic growth
In total, the national carrier and its low-cost arm Scoot carried 3.1 million passengers that month SINGAPORE Airlines (SIA) Group posted a 9.7 per cent increase in passenger capacity in September, outpacing the 7.7 per cent growth in passenger traffic recorded that month. The national carrier and its low-cost arm Scoot flew a total of…
Read MoreGlass Lewis advises Sabana Reit investors to vote against requisitionists’ director candidates at EGM
PROXY adviser Glass Lewis has recommended that unitholders of Sabana Industrial Real Estate Investment Trust (Reit) vote against the director candidates put up by requisitioners of an upcoming extraordinary general meeting (EGM) this Friday (Oct 18), citing a lack of detail provided by the requisitionists on the candidates. Instead, Glass Lewis said unitholders should vote…
Read MoreVW, BMW and Mercedes are getting left in the dust by China’s EVs
RYAN Xu was a dream customer for Germany’s automakers. The Guangdong-based entrepreneur and her husband own a Porsche 911 and a Mercedes-Benz G-Class and were among the first buyers of the electric Porsche Taycan. But her views on German cars have soured as Chinese consumers increasingly favour tech refinement over traditional selling points such as…
Read More