Posts by Mark Darwin
Yangzijiang Shipbuilding to buy 34% stake in Japanese shipbuilder’s unit for 833.1 million yuan
MAINBOARD-LISTED Yangzijiang Shipbuilding is acquiring a 34 per cent stake in a wholly owned subsidiary of Japanese shipyard Tsuneishi Group for a consideration of 833.1 million yuan (S$158.3 million). Announcing the joint venture agreement on Thursday (Sep 12), the Chinese shipbuilding group said that it will purchase the stake in Tsuneishi Group (Zhoushan) Shipbuilding through…
Read MoreYangzijiang Shipbuilding to take 34% stake in Japanese shipbuilder’s China unit for 833 million yuan
MAINBOARD-LISTED Yangzijiang Shipbuilding is acquiring a 34 per cent stake in a wholly owned subsidiary of Japanese shipyard Tsuneishi Group for 833.1 million yuan (S$158.3 million). Announcing the joint venture agreement on Thursday (Sep 12), the Chinese shipbuilding group said that it will purchase the stake in Tsuneishi Group (Zhoushan) Shipbuilding through a private share…
Read MoreSTI extends winning streak to hit fresh high of 3,556 points, but SGX takes a blow
Singapore’s gains are in line with the broader Asian markets, which have taken their cue from positive sentiment in the US markets overnight THE Straits Times Index (STI) hit yet another 52-week high on Thursday (Sep 12), gaining 0.72 per cent or 25.36 points to close at 3,556.53. Advancers beat decliners by a wider margin…
Read MoreGlobal oil demand growth slows as China slumps: IEA
Global oil demand grew at its slowest pace since 2020 in the first half of 2024 due to China’s economic slump, the International Energy Agency said on Thursday (Sep 12), prompting the IEA to lower its full-year forecast. Demand increased by 800,000 barrels per day (bpd) in the first six months of 2024, compared with…
Read MoreIndia’s biggest IPO of 2024 draws staggering US$39 billion in bids
Institutional investors drove the frenzied demand for shares of Bajaj Housing Finance, with bids exceeding 200 times the shares set aside for them The home-loan unit of India’s largest shadow lender drew a blockbuster response for its share-sale debut, highlighting continued investor exuberance over listings in the nation. Bajaj Housing Finance, which sought to raise…
Read MoreTaishin raises offer for Shin Kong in what could be Taiwan’s biggest financial deal
TAIWAN financial conglomerate Taishin said it would raise its offer for peer Shin Kong by 25 per cent to about NT$222.4 billion (S$9 billion), in a deal that would be Taiwan’s biggest-ever financial services industry merger. Taishin and Shin Kong’s long-mooted tie-up, announced last month, has had to contend with an unexpected rival bid from…
Read MoreAsia funds create alliance to help funnel billions into Vietnam
SEVERAL regional private equity firms have banded together to establish a Vietnamese alliance, aiming to facilitate US$35 billion of investment into the South-east Asian country over the next decade. The newly established Vietnam Private Capital Agency (VPCA), founded by five partners from funds including Golden Gate Ventures, Do Ventures and Monk’s Hill Ventures, will organise…
Read MoreJPMorgan and Bank of America to curb young banker work hours: report
TWO of Wall Street’s largest investment banks are rolling out measures that may ease junior bankers’ workloads amid complaints across the industry that weekly hours are increasingly creeping past 100. JPMorgan Chase will limit junior banker hours to 80 per week in most cases, The Wall Street Journal reported, citing sources familiar with the matter.…
Read MoreChina asks its carmakers to keep key EV technology at home
CHINA has strongly advised its carmakers to make sure advanced electric vehicle (EV) technology stays in the country, sources familiar with the matter said, even as they build factories around the world to escape punitive tariffs on Chinese exports. Beijing is encouraging Chinese automakers to export so-called knock-down kits to their foreign plants, the sources…
Read MoreChina Development Bank aviation unit buys 80 Airbus A320neos
CHINA Development Bank Financial Leasing agreed to buy 80 Airbus jets in the A320neo lineup to increase the proportion of more fuel-efficient next-generation aircraft in its fleet. The planes, which would be the second-largest order by an airline or lessor for Airbus aircraft this year, are due to be delivered between 2030 and 2032, China…
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