Posts by Mark Darwin
Keppel unit awarded S$34 million for 2022 arbitration case against Cuscaden Peak
It is not expected to have a material impact on Keppel’s net tangible assets per share nor earnings per share KEPPEL’S wholly owned subsidiary Keppel Pegasus was awarded S$34 million plus interest for its arbitration proceedings against Cuscaden Peak Investments, then known as Singapore Press Holdings (SPH). The interest rate will be 5.33 per cent…
Read MoreCapitaLand Ascott Trust sells Citadines Karasuma-Gojo Kyoto for 6.2 billion yen
CAPITALAND Ascott Trust (Clas) has divested Citadines Karasuma-Gojo Kyoto in Japan for 6.2 billion yen (S$53.1 million). On Wednesday (Oct 9), its managers said the sale price is 40.1 per cent above the 124-unit serviced residence’s book value as at end-2023. It also represents an exit yield of about 0.3 per cent, based on Clas’…
Read MoreFrench luxury goods company Kering names Stefano Cantino as CEO of Gucci
FRENCH luxury goods company Kering named Stefano Cantino as CEO of Gucci, with Cantino succeeding Jean-Francois Palus next January. “I am confident that, building on what has been set up over the past 15 months, Stefano and the Gucci team will succeed in the mission to take Gucci back to the leadership the brand deserves,”…
Read MoreOnline retailer Shein’s 2023 sales hit £1.55 billion in UK
SHEIN’S British business made £1.55 billion (S$2.6 billion) in revenue in 2023 and a profit before tax of £24.4 million, a filing by the online fast-fashion group showed on Tuesday, as the company prepares for a planned listing in London. Shein’s rapid growth, fuelled by its low-cost business model of sending parcels to customers worldwide…
Read MoreHot stocks: Semiconductor plays stumble amid rising short interest
Shares of Frencken, UMS and AEM fall after a report highlighted them among the top five most shorted stocks on the Singapore bourse SINGAPORE’S semiconductor stocks were trading in the red on Tuesday (Oct 8) morning after they were named among the top five most-shorted stocks in the country. Shares of Frencken slid S$0.03 or…
Read MoreAustralia central bank discussed future cases for raising, lowering rates
AUSTRALIA’S central bank discussed scenarios in which the cash rate may need to be raised or cut in the future at the September policy meeting, having left interest rates steady at 4.35 per cent for almost a year. Minutes of its Sep 23 to 24 board meeting released on Tuesday (Oct 8) showed the Reserve…
Read MoreSingtel must show results from NCS, Optus divisions to help fuel share price uptrend
Analysts are also looking for potential expansion from big ticket deals, such as the data centre agreements announced earlier this year TELCO giant Singtel’s share price has risen significantly in recent weeks as investors have gained a better understanding of how the company will execute its dividend plans. Year-to-date as at Sep 30, the company’s…
Read MoreThai State Fund climbs on debut after raising US$4.5 billion
A state-controlled Thai fund that raised US$4.5 billion from domestic retail and institutional investors to shore up the South-east Asian nation’s capital market rose on its first day of trading. The units of Vayupak Fund I advanced to as high as 10.20 baht (S$0.38) each on the Stock Exchange of Thailand on Monday (Oct 7)…
Read MoreUS: Wall Street opens lower as changing rate expectations boost yields
Wall Street’s main indexes fell at the open on Monday (Oct 7), pressured by a rally in Treasury yields as investors dialled back bets on the scope of the Federal Reserve interest rate cuts this year. The Dow Jones Industrial Average fell 63.2 points, or 0.15 per cent, at the open to 42,289.51. The S&P…
Read MoreChevron sells Canadian oil sands, shale assets for US$6.5 billion
The deal comes as it focuses its growth plans in other parts of the world, such as the Permian basin in the US and the Tengiz field in Kazakhstan CHEVRON agreed to sell its stakes in some oil sands and shale assets to Canadian Natural Resources for US$6.5 billion. The deal relates to Chevron’s 20…
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