Posts by Mark Darwin
ASML’s China sales surge highlights risk of tighter US curbs
ASML’s surging sales to China in the second quarter accounted for nearly half of the Dutch company’s revenue, revealing the limited impact of United States export restrictions so far as the Biden administration considers even tougher curbs. The results highlight how much is at stake for ASML as the US warned allies that it is…
Read MoreMalaysia to decide on Singapore high-speed rail link this year
MALAYSIA will decide in the coming months whether to proceed with a multibillion-dollar high-speed rail line between Kuala Lumpur and Singapore, as Prime Minister Anwar Ibrahim’s government weighs proposals from a narrowing list of private consortiums. Transport Minister Anthony Loke said on Wednesday (Jul 17) that he hopes Malaysia’s Cabinet will decide on the viability…
Read MoreRajah & Tann, Allen & Gledhill expand in China as international peers retreat
SINGAPORE’S two largest law firms are expanding in China, banking on a trend of Chinese companies venturing overseas even as some of their global peers pull back from the world’s second-largest economy. Rajah & Tann Asia is set to open a representative outpost with an initial 10 lawyers in Qianhai, Shenzhen in October, head of…
Read MoreApax, Bain and CVC exploring potential bids for SoftwareOne: sources
APAX Partners, Bain Capital and CVC are each exploring potential bids for SoftwareOne, two sources with knowledge of the situation said, three months after the ouster of the Swiss software company’s board. Talks with interested funds are ongoing, one of the sources said. Four sources mentioned Bain and CVC and two of them also named…
Read More‘Size matters’ as Axiata guns for bigger share in key markets, says CEO
To ensure a return on investment, the telco giant is seeking to raise its market share in Indonesia to around 25% [KUALA LUMPUR] Axiata Group – the largest telco in Malaysia by revenue – is set to grow its market share in Indonesia to at least 20 per cent following a series of mergers in…
Read MoreUS banks see high deposit costs, investment banking boost
US LENDERS’ second-quarter profits were squeezed by dampening loan demand and the high interest they paid to hold on to deposits, but a flurry of bond sales boosted their investment banking units. Citizens Financial, US Bancorp, First Horizon and Synchrony Financial all paid higher rates compared with a year earlier on their customers’ deposits, they…
Read MoreUS: Wall Street falls as megacap tech, chip stocks lead sell-off
WALL Street tumbled at the open on Wednesday (Jul 17), with the Nasdaq slumping over 1 per cent as declines in major chip and tech stocks led broad-based losses amid a bevy of corporate results and the prospect of fresh US trade curbs on Chinese chips. The Dow Jones Industrial Average fell 91.91 points, or…
Read MoreChina solar firms ink deals with Saudis for global expansion
TWO major Chinese solar manufacturers will build plants worth US$3 billion in Saudi Arabia, highlighting efforts to globalise their production bases as they face margin pressures at home. Shares in Jinko Solar and TCL Zhonghuan Renewable Energy Technology rose as much as 5 per cent in Shanghai on the announcement, which also gave a boost…
Read MoreTrump says Taiwan should pay for defence, sending TSMC stock down
TAIWAN should pay the US for its defence as it does not give the country anything, Republican presidential candidate Donald Trump told Bloomberg Businessweek, sending shares of Taiwanese chip manufacturer TSMC lower on Wednesday (Jul 17). “I know the people very well, respect them greatly. They did take about 100 per cent of our chip…
Read MoreAllianz seeks 51% Income Insurance stake in 1.5 billion-euro deal
GERMAN financial services giant Allianz plans to acquire 51 per cent of Singapore-based insurer Income Insurance at S$40.58 per share. The deal amounts to some 1.5 billion euros (S$2.2 billion), Allianz announced on Wednesday (Jul 17). NTUC Enterprise Co-operative Limited currently owns around 72.8 per cent of the insurer, represented by about 78 million shares…
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