Posts by Mark Darwin
China targets EU dairy just as its own milk industry flounders
CHINA’S anti-subsidy probe of dairy imports from the European Union comes at a time when the local industry is on its knees. Limiting shipments from the EU could relieve some pressure on farmers, but the quantities targeted are small and domestic conditions have been worsening for quite a while. The market is grappling with excess…
Read MoreSCI Ecommerce is said to be considering an IPO in Singapore
SCI Ecommerce is considering an initial public offering in Singapore as soon as mid-2025, according to people familiar with the matter. SCI, which is backed by Singaporean buyout firm Asia Partners, is working with financial advisers on the potential share sale, the people said, asking not to be identified because the process is private. A listing…
Read MoreSalesforce to acquire AI voice agent firm Tenyx, joining AI talent race
ENTERPRISE cloud firm Salesforce on Tuesday (Sep 3) said it has agreed to acquire Tenyx, which develops artificial intelligence (AI) powered voice agents, to advance its AI-driven solutions. The acquisition, for which no deal value was disclosed and is expected to close in the third quarter, will see Tenyx’s co-founders, CEO Itamar Arel and CTO…
Read MoreStocks to watch: CapitaLand Integrated Commercial Trust, ComfortDelGro
THE following companies saw new developments that may affect trading of their securities on Wednesday (Sep 4): CapitaLand Integrated Commercial Trust (CICT): The trust will issue 171.7 million new units at an issue price of S$2.04 apiece. The manager on Wednesday said the placement was 3.7 times covered, and will raise about S$350.3 million. Meanwhile,…
Read MoreChina Life profit rises as market lifts investment returns
CHINA Life Insurance, the nation’s largest life insurer by market share, said profit rose 11 per cent in the first half as an improving stock market boosted investment returns. Net income climbed to 38.3 billion yuan (S$7 billion), from 34.6 billion yuan a year earlier, the Beijing-based company said in a filing to the Shanghai…
Read MoreSubway eyes US$2.3 billion asset-backed debt sale
SUBWAY is tapping the asset backed securities market for the second time this year as the sandwich restaurant chain looks to borrow US$2.3 billion. The company, which has the most restaurant locations of any chain in the US, was purchased by Roark Capital Group in a buyout that closed in April. In May, it sold…
Read MoreNvidia suffers record US$279 billion rout as AI worry sinks stocks
FOUR weeks after US stocks buckled amid a global flight from risk assets, chipmakers touched off another bout of equities selling when a pair of industry analysts rekindled worries that the mania surrounding artificial intelligence (AI) had gone too far. Nvidia shares tumbled 9.5 per cent, wiping out US$278.9 billion in the biggest loss of…
Read MoreChina’s BYD to pause Mexico plant until after US election
CHINA’S top electric-vehicle maker BYD Co. won’t announce a major plant investment in Mexico until at least after the US election, according to people familiar with the matter, as shifting American policy forces global businesses into wait-and-see mode. BYD was scouting three locations for a car production facility in Mexico but has stopped actively looking…
Read MoreMoody’s upgrades outlook on global reinsurers to positive from stable
MOODY’S Ratings upgraded its outlook on global reinsurers to positive from stable owing to reinsurers’ higher prices and more restrictive policies, along with healthy investment income, the ratings agency said in a statement on Tuesday (Sep 3). Reinsurers insure the insurers and have raised their rates and excluded some business in recent years in response…
Read MoreNtegrator receives originating applications from ex-management seeking High Court winding-up order
COMMUNICATIONS network specialist Ntegrator, formerly known as Watches.com, has received two originating applications from its former financial controller and ex-executive director, each seeking a winding-up order from the High Court. In a bourse filing on Tuesday (Sep 3), the company said it has received an Aug 23 application from solicitors acting on behalf of Sw…
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