Posts by Mark Darwin
Hot stock: F&N soars 22% on ThaiBev share-swap deal; ThaiBev, Frasers Prop climb
COUNTERS of Fraser and Neave (F&N), Thai Beverage (ThaiBev) and Frasers Property climbed on Thursday (Jul 18), after ThaiBev proposed a share swap deal that will see it become a pure-play food and beverage company. At the opening bell, F&N shares had jumped 15 per cent from yesterday’s close of S$1.07 to S$1.23. It peaked…
Read MoreEV sales growth stalls in Europe
EUROPE is supposed to fully switch to electric vehicles (EVs) in little over a decade but sales growth of the climate-friendly vehicles stalled in the first half of the year, data showed on Thursday (Jul 18). Instead, data from the European Automobile Manufacturers’ Association (Acea) showed that the modest 4.4 per cent overall growth in…
Read MoreAsia: Markets drop with Wall Street as Biden sparks fresh chip fears
ASIAN markets sank with Wall Street on Thursday (Jul 18) after a warning from the White House that it would target firms supplying China with key semiconductor technology, and Donald Trump’s comments on crucial chip supplier Taiwan. The US dollar remained subdued following its latest retreat caused by growing expectations that the Federal Reserve will…
Read MoreASML’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…
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