Posts by Mark Darwin
PBOC starts bank stress tests to avoid stampede out of bonds
CHINA has initiated stress tests with financial institutions on their bond investments, to make sure they can handle any market volatility should a record-breaking rally reverse, according to state-run media. The People’s Bank of China (PBOC) has made a gradual start to the tests recently, wary that a bull run might lead to one-sided bets…
Read MoreSingapore stocks open higher on Monday; STI up 0.4%
SINGAPORE stocks rose on Monday (Aug 26) morning as remarks from US Federal Reserve chair Jerome Powell cemented expectations that the central bank will cut its key policy rate next month. As at 9.03 am, the Straits Times Index (STI) opened 0.4 per cent or 13.34 points higher at 3,401.33. Across the broader market, gainers…
Read MoreStocks to watch: Shangri-La Asia, Sembcorp, MPACT, Starhill Global Reit, Oxley, Creative Tech
THE following companies saw new developments that may affect trading of their securities on Monday (Aug 26): Shangri-La Asia: The hotel group on Friday posted a 28.1 per cent decline in net profit to US$94.5 million for the first half-year ended Jun 30, from US$131.4 million a year earlier. The fall in net profit was…
Read MoreTakeover battle for Taiwan bank heats up with CTBC offer
TAIWAN’S CTBC Financial Holding upped the ante in the battle for Shin Kong Financial Holding, offering more than US$4 billion for a controlling stake in its rival to create the island’s biggest finance group. CTBC offered NT$14.55 in cash and stock for up to 51 per cent in Shin Kong, Taiwan’s fifth-largest financial conglomerate, according…
Read MoreTelegram says it abides by EU laws after CEO detained in France
TELEGRAM on Sunday questioned the grounds for France’s detention of chief executive officer Pavel Durov, the messaging app’s billionaire co-founder who was taken into custody at a Paris airport over the weekend. Durov, 39, was detained at Le Bourget on Saturday on suspicion of failing to take steps to prevent criminal use of Telegram, according…
Read MoreGood connections but green constraints for Singapore’s Wilmar at Europe’s busiest port
Chemicals transport company Eagletainer similarly faces supply chain disruptions and strict regulations [ROTTERDAM] Being near Europe’s busiest port gives a logistical edge – but the continent’s stricter green rules may hamper growth, as Singapore-listed agribusiness Wilmar International is discovering. Rotterdam, in the Netherlands, is home to Europe’s largest seaport and is a major transport hub.…
Read MoreGreater awareness and government support are birthing an IVF boom
Fertility service providers are also seeking to go regional in anticipation of future demand GOVERNMENT support to boost low birth rates and growing awareness of fertility services are supporting increased demand for in-vitro fertilisation (IVF) and related treatments, both in Singapore and across South-east Asia. Private healthcare providers are finding opportunities to expand organically and…
Read MoreYuan carry trade can prosper even after yen version collapsed
The hugely popular yen carry trade crashed and burned this month as Japan’s currency surged. A less well-known version of the strategy is likely to be more immune to those kind of shocks. Trades involving borrowing yuan to buy higher-yielding assets are set to be more resilient as China’s central bank – the People’s Bank…
Read MoreIsetan Singapore to stop trading on Aug 29 after court sanctions privatisation scheme
Transfer books and register of members of the company will be close at 5 pm on Sep 5 DEPARTMENT store operator Isetan Singapore’s last day of trading for its shares will be Aug 28, and trading will be suspended from 9 am on Aug 29. This comes after the court on Friday (Aug 23) sanctioned…
Read MoreIs PropertyGuru’s delisting good for SEA’s tech scene?
PropertyGuru’s stint as a listed company might soon be coming to an end. Last week, Swedish private equity (PE) firm EQT offered to acquire the South-east Asian property listings portal for US$1.1 billion. Upon completion of the deal, which is expected to close in Q4 2024 or Q1 2025 and is subject to approval by…
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