Posts by Mark Darwin
Yangzijiang Shipbuilding H1 profit rises 77% to 3.1 billion yuan on robust sales, production revenue
Yangzijiang Shipbuilding on Monday (Aug 12) posted a net profit of 3.1 billion yuan (S$553.7 million) for the six months ended Jun 30, an increase of 77.2 per cent from the year-ago period. This comes as earnings per share for the period rose to 77.42 fen from 43.69 fen the year before. A bourse filing…
Read MoreUS: Wall St opens higher in lead up to data deluge
WALL Street opened higher on Monday (Aug 12) as indices add to their recovery from a hammering early last week, with investors gearing up for a deluge of data including US consumer prices. The Dow Jones Industrial Average was up 0.02 per cent at 39,500 points. The S&P 500 climbed 0.24 per cent to 5,356.23…
Read MoreChina’s Human Horizons seeks up to 300 million yuan in debt financing to revive EV production
CHINESE electric vehicle maker Human Horizons is seeking debt financing of up to 300 million yuan (S$55.4 million) to resume production at its EV plant, as the parent firm of premium EV brand Hiphi has filed for a pre-bankruptcy process. The last-ditch effort by another Chinese EV maker follows bankruptcy proceedings facing two units of…
Read MoreCenturion H1 profit jumps 209% to S$118.2 million on fair-value gains
CENTURION Corporation posted a 209 per cent rise in net profit to S$118.2 million for its first half ended Jun 30, from S$38.3 million in the previous corresponding period. Net profit was boosted by fair-value gains of S$61.6 million in the half-year period, the dormitory operator said in a regulatory filing on Monday (Aug 12).…
Read MoreStraco H1 profit up 64.5% to S$10.5 million on tourism recovery
Revenues generated from the Singapore Flyer were 33% higher than the year-ago period TOURIST attraction developer and operator Straco has posted a 64.5 per cent increase in net profit to S$10.5 million for the first half ended Jun 30, up from S$6.4 million in the previous corresponding period. In a bourse filing on Monday (Aug…
Read MoreChinese brokers curb bond trading amid PBOC warnings on rally
AT LEAST four Chinese brokerages have started fresh measures to cut back trading of domestic government bonds beginning last week, people familiar with the matter said. The brokers reduced the trading of sovereign debt with one of them even suspending transactions in some maturities, the people said, requesting not to be named discussing private matters.…
Read MoreSmoking Singapore Airlines plane forces runway closure in Japan
A REPORT of white smoke coming from a landing Singapore Airlines plane forced a runway at Japan’s Narita Airport to close temporarily on Monday, officials said, though responders found no signs of fire and no one was injured. The smoke prompted six fire engines and two ambulances to rush to the scene, and Narita’s runway…
Read MoreChina rapidly expands battery fleet but needs to start using it
CHINA is rushing to build battery-storage systems to allow electricity grids to cope with rapid increases in intermittent power generation from wind and solar farms. But to truly capitalise on the technology, it needs to ensure they are used more frequently. China’s new-energy storage capacity, a segment dominated by lithium-ion batteries, jumped to 44 gigawatts…
Read MoreShell to invest in phase two of Surat gas project in Australia
SHELL plans to invest in the second phase of development at joint venture Arrow Energy’s Surat gas project in Queensland, Australia, the global energy giant said on Monday (Aug 12). The second phase of development will include up to 450 production wells, new pipeline and road and infrastructure upgrades, Shell said. The investment is expected…
Read MoreCordlife warns of H1 net loss amid MOH investigations
CORDLIFE Group has issued a profit warning saying it expects to report a net loss for the first fiscal half of the year versus a net profit in the prior year, based on a preliminary review of the group’s draft unaudited H1 FY2024 results. More details will be disclosed when the group announces its unaudited…
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