Posts by Mark Darwin
ESR purchases remaining 12.3% stake in Logos Group
REAL estate investment manager ESR Group will acquire the remaining 12.3 per cent stake in logistics real estate company Logos, which will become an indirect wholly subsidiary when the transaction has completed, it announced on Friday (Jul 26). ESR held an 86.4 per cent indirect interest in Logos in early May, with the remaining stake…
Read MoreHong Kong reappoints Eddie Yue as central bank chief for another 5 years
HONG Kong’s government reappointed Eddie Yue as its de-facto central bank chief to another five-year term to keep stability in the financial hub. The 59-year-old will get a raise in his annual salary to HK$7.4 million (S$1.3 million), up from HK$7.2 million last year, the government said on Friday (Jul 26). His performance bonus remained…
Read MoreGold heads for weekly loss; spotlight on US inflation data
GOLD prices inched higher on Friday (Jul 26), but remained on track for a weekly loss, while traders awaited US inflation data for further cues on the trajectory of the Federal Reserve’s interest rate cuts. Spot gold was up 0.2 per cent at US$2,368.89 per ounce, as at 0142 GMT, but was down more than…
Read MoreSingapore shares open lower on Friday; STI down 0.1%
SINGAPORE shares started trading in negative territory on Friday (Jul 26). This comes as the Monetary Authority of Singapore left its monetary policy settings unchanged for the fifth straight meeting, in line with market expectations. As at 9.01 am, the Straits Times Index (STI) opened 0.1 per cent or 4.67 points lower at 3,425.78. Across…
Read MoreKeppel DC Reit posts 9.9% drop in H1 DPU to S$0.04549
KEPPEL DC Reit posted a 9.9 per cent year-on-year decrease in distribution per unit (DPU) to S$0.04549 for the first half of the financial year ended Jun 30, from S$0.05051. The manager attributed the lower DPU to loss allowance for the real estate investment trust’s (Reit) data centres in Guangdong, China, higher finance costs and…
Read MoreRay-Ban maker EssilorLuxottica confirms Meta interested in stake
ESSILORLUXOTTICA confirmed Meta Platforms is interested in buying a stake in the world’s biggest eyewear maker. Chief executive officer Francesco Milleri said that the US tech giant intends to become a shareholder in the French-Italian group potentially building on a years-long partnership to develop smart glasses. “We are proud that a company that knows…
Read MoreFirst Sponsor H1 net profit climbs 12.4% to S$11.9 million
FIRST Sponsor Group on Thursday evening (Jul 25) reported a net profit of S$11.9 million for the half year ended Jun 30, up 12.4 per cent from S$10.6 million a year ago. This was despite significantly higher net financing cost in H1 2024, said the company, which operates in property development, property holding and property…
Read MoreCATL supplier Lopal said to seek US$200 million for Indonesia unit
JIANGSU Lopal Tech is considering raising about US$200 million for its Indonesian unit as it ramps up local production of materials used in electric-vehicle batteries, according to people familiar with the situation. Lopal, a supplier to the world’s largest battery maker Contemporary Amperex Technology Co (CATL), is working with an adviser to gauge interest from…
Read MoreNasdaq profit beats estimates as fintech sales soar
Revenue from its financial technology unit soared nearly 79 per cent to US$420 million in the second quarter Nasdaq beat estimates for second-quarter profit on Thursday (Jul 25), driven mainly by strong demand for its products that help traders navigate compliance requirements and safeguard against financial crimes, sending its shares up about 4 per cent…
Read MoreNestle, Unilever sales disappoint as consumers remain wary of high prices
Nestle and Unilever may be raising prices more slowly, but it has not been enough to win back some cost-conscious customers, with the consumer goods giants delivering disappointing first-half sales growth on Thursday (Jul 25). Shares of Dove soap maker Unilever rose 5 per cent as it nonetheless maintained its annual sales forecast and posted…
Read More