Posts by Mark Darwin
GIC and Temasek face a tougher investing climate. What are they doing about it?
BOTH sovereign wealth fund GIC and state investor Temasek Holdings are key contributors to Singapore’s net investment returns, which is why their results are so closely scrutinised every year. GIC’s numbers, which were released on Wednesday (Jul 24), show that its annualised real rate of return for the 20 years ended Mar 31, 2024, came…
Read MoreVisa prevented US$40 billion worth of fraudulent transactions in 2023
VISA prevented 80 million fraudulent transactions worth US$40 billion globally last year thanks to investments in technology including artificial intelligence (AI), a senior company figure said on Tuesday (Jul 23). In 2025, cybercrime is projected to cost the world US$10.5 trillion. If this were a nation’s gross domestic product, it would rank as the world’s…
Read MoreBest World raises stake in British beauty firm Pedal Pulses
Total purchase consideration of about S$5.5 million is not materially different from the one announced in April 2020 BEST World International has raised its stake in British beauty company Pedal Pulses to 59.9 per cent from 50 per cent. In a bourse announcement on Tuesday (Jul 23), the company announced that it has entered into…
Read MoreSome investors demand change at LVMH after probe into Dior contractors
Europe’s top asset manager Amundi and other LVMH investors want the US$370 billion luxury behemoth controlled by billionaire Bernard Arnault to take more aggressive steps to monitor its suppliers’ treatment of workers. Italian prosecutors have disclosed alleged sweatshop-like conditions at subcontractors for high-end brand Dior, three investors told Reuters. The investigation into suppliers for LVMH’s…
Read MoreSabana Reit H1 DPU down 16.8% to S$0.0134 after repossessions
SABANA Industrial Real Estate Investment Trust (Sabana Reit) posted a distribution per unit (DPU) of S$0.0134 for the first half of its fiscal year ended Jun 30, 2024, down 16.8 per cent from S$0.0161 in the corresponding year-ago period, its manager announced on Tuesday (Jul 23). Gross revenue for H1 slipped 0.2 per cent on year…
Read MoreBosch to buy Johnson Control’s air-conditioning assets in US$8 billion deal
It will also acquire full ownership of a joint venture with Hitachi, which includes the Japanese manufacturer’s 40% stake ENGINEERING company Robert Bosch plans to buy Johnson Controls International’s heating and ventilation assets for US$8 billion, as it diversifies its portfolio away from automotive supplies. All parties have signed binding agreements, the German company said…
Read MoreForvia and BYD to bring Asian partnership to Europe
THE world’s seventh largest car parts supplier Forvia will bring its partnership with Chinese battery specialist and car maker BYD to Europe, it said on Tuesday (Jul 23). Forvia said the two companies will operate together in BYD’s new factory in Hungary, as an extension of their current partnership in Asia. “Our collaboration has already…
Read MoreBrokers’ take: RHB expects UOB’s valuation to provide downside support; raises target to S$32
Efforts to build up the bank’s wholesale platform look to be ‘bearing fruit’, RHB notes RHB on Tuesday (Jul 23) raised its target price on UOB to S$32 from S$30.10 after rolling forward its valuation base year to FY2025. It has a “neutral” recommendation on the counter. Shares of UOB were trading 0.4 per cent…
Read MoreSingapore stocks rise at Tuesday’s open amid global rebound; STI up 0.5%
SINGAPORE stocks opened higher on Tuesday (Jul 23) following overnight gains in overseas markets after a shaky end last week. The Straits Times Index (STI) headed up 0.5 per cent or 18.12 points to 3,455.38 as at 9.03 am. Across the broader market, gainers outnumbered losers 87 to 39, after 47.5 million securities worth S$60.5…
Read MoreSeatrium bags S$180 million in repair and upgrades projects
OFFSHORE and marine specialist Seatrium has secured S$180 million worth of contracts to repair and upgrade various kinds of vessels, said the company on Tuesday (Jul 23). All the projects, except one, will be completed by the end of 2024. The contracts include major repairs on offshore vessels, naval vessels, ferries, liquefied natural gas (LNG)…
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