Posts by Mark Darwin
Yanlord Land Group sinks into the red with 486 million yuan H1 loss on write down
REAL estate developer Yanlord Land Group reversed into the red with a loss of 486 million yuan (S$89.3 million) for the six months ended Jun 30, compared to net profit of 1.1 billion yuan in the year-ago period. This was due to a write down to net realisable value of completed properties for sale and…
Read MoreAEM H1 net profit falls 95.4% as demand from key customer weakens
AEM Holdings posted a 95.4 per cent decline in net profit to S$895,000, from S$19.7 million a year earlier, for the half-year ended Jun 30, 2024. This comes as revenue declined 36.9 per cent year on year to S$173.6 million, from S$275.2 million previously. The semiconductor test equipment maker on Wednesday (Aug 14) said this…
Read MoreComfortDelgro’s H1 2024 earnings rose 21.4% to S$95.3 million
TRANSPORT operator (CDG) reported on Wednesday (Aug 14) a 21.4 per cent increase in H1 2024 earnings to S$95.3 million, from S$78.5 million in the year-ago period. Revenue for the period rose 13.7 per cent to S$2.1 billion from S$1.9 billion in the year prior, driven mainly by new acquisitions and increased contributions from existing…
Read MoreGreen data centres, energy transition among most promising growth areas in sustainable financing: UOB
[KUALA LUMPUR] Green data centres, energy transition, food security and industrials are the most promising growth areas in sustainable financing, said UOB’s head of sector solutions group and global financial institution group Lim Lay Wah on Wednesday (Aug 14). Sustainable finance makes up 21 per cent of the Singapore bank’s overall group wholesale banking portfolio.…
Read MoreAviva tops earning forecasts on home, motor insurance price rises
British insurer Aviva beat first-half profit expectations following a rise in general insurance premiums in Britain and Ireland, and said on Wednesday (Aug 14) it remained confident of meeting its 2026 targets. The life and general insurer, whose main businesses are in Britain, Canada and Ireland, posted a 14 per cent rise in operating profit…
Read MoreSnickers maker Mars to acquire Kellanova for nearly US$30 billion: source
FAMILY-OWNED candy giant Mars, whose brands include M&M’s and Snickers, is nearing a deal to acquire Kellanova, maker of snacks such as Cheez-It and Pringles, for nearly US$30 billion, a person familiar with the matter told Reuters on Aug 13. Mars will pay US$83.50 per share in an all-cash deal for Kellanova that is set…
Read MoreUBS profit beats estimates as client inflows hit US$27 billion
UBS Group posted higher than expected profit in the second quarter, buttressing chief executive officer Sergio Ermotti’s efforts to return capital to shareholders and finalise the integration of Credit Suisse. The Zurich-based bank said that net income was US$1.1 billion, about double analyst estimates. The key wealth management business saw strong client inflows, with US$27…
Read MoreCathay Pacific world’s most-shorted airline stock on profit woes
CATHAY Pacific Airways is now the world’s most-shorted major airline stock, as the industry struggles to improve profits even amid a rebound in global tourism. Short interest in shares of the Hong Kong flagship carrier has climbed to more than 25 per cent of the free float, according to S&P Global data as at Aug…
Read MoreAsia: Markets extend gains as US inflation data boost rate hopes
EQUITIES marched higher on Wednesday (Aug 14) after hopes for a Federal Reserve interest rate cut next month were boosted by data showing US wholesale prices rose less than forecast last month. However, Tokyo went into retreat after news that the Japanese prime minister would not seek re-election as his party’s leader next month, bringing…
Read MoreTencent’s buyback plan in focus as Chinese tech rivals catch up
INVESTORS will scrutinise any comments from Tencent Holdings about its buyback plans during on Wednesday’s (Aug 14) quarterly results announcement as its competitors catch up with its spending levels. Tencent has forked out almost US$8 billion this year to repurchase its Hong Kong-listed shares, more than any other company on the exchange, according to data…
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