Posts by Mark Darwin
Malaysia airports operator management to remain in Malaysians’ hands: PM Anwar
THE management and ownership of Malaysia’s airports operator will remain in Malaysian hands following a plan to take it private, Prime Minister Anwar Ibrahim said on Tuesday, amid protests against a bid that includes foreign investors. A consortium led by Malaysia’s sovereign wealth fund Khazanah Nasional Bhd and state pension fund the Employees Provident Fund…
Read MoreJasper Investments to buy marine engineering company with additional S$13 million fundraise
JASPER Investments announced that it has agreed to acquire a 51 per cent stake in Prosper Excel Engineering for S$7.5 million. The acquisition will be funded by proceeds from the marine player’s larger fundraising and debt capitalisation exercise, the company said on Tuesday (Jun 25). The proposed acquisition aims to “tap on the core strengths”…
Read MoreGold prices inch lower as focus turns to US inflation data
GOLD prices edged down on Tuesday (Jun 25), as investors await key US inflation data due this week that could offer fresh clues on how soon the Federal Reserve can cut interest rates. Spot gold was down 0.1 per cent at US$2,329.64 per ounce, as at 0114 GMT. US gold futures also edged 0.1 per…
Read MoreSingapore shares edge down at Tuesday’s open; STI down 0.1%
SINGAPORE equities began trading in negative territory on Tuesday (Jun 25), following mixed performance overnight in the US and Europe. As at 9.01 am, the Straits Times Index (STI) opened 0.1 per cent or 2.68 points lower at 3,311.46. Across the broader market, gainers outnumbered losers 60 to 48 after 29.4 million securities worth…
Read MoreSingapore retains spot as costliest city for high-net-worth individuals to live well: report
SINGAPORE has maintained its spot as the most expensive city in the world for high-net-worth (HNW) individuals to live well, said a report by Swiss private bank Julius Baer on Tuesday (Jun 25). According to the bank’s Global Wealth and Lifestyle Report 2024, the city-state retained the ranking for the second year in a row,…
Read MoreHedging China EV makers is getting pricey with imminent tariffs
TRADERS are preparing for more swings ahead for shares of Chinese electric vehicle (EV) makers as governments around the world plan new tariffs. The cost of Li Auto options traded in Hong Kong is hovering around its highest level since February 2023 relative to the benchmark gauge of the city’s stocks. On BYD, three-month implied…
Read MoreStocks to watch: OCBC, Great Eastern, SingPost, Best World, LMIRT, Cordlife
THE following companies saw new developments that may affect trading of their securities on Tuesday (Jun 25): OCBC, Great Eastern: OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, said the lender. But no delisting is in sight as the bank’s offer for its insurance subsidiary has been…
Read MoreChina floats perks for German carmakers to prevent EV levies
BEIJING has suggested Germany’s luxury car manufacturers could benefit if Berlin convinces the European Union to drop tariffs on Chinese electric vehicle (EV) exports. China floated lowering its existing tariffs on large-engine cars in return for scrapping planned EV levies on imports from the Asian nation, according to sources familiar with the discussions, who asked…
Read MoreUS Federal Reserve floats weaker version of planned bank-capital overhaul
THE Federal Reserve has shown other United States regulators a three-page document of possible changes to their bank-capital overhaul that would significantly lighten the load on Wall Street lenders, according to sources familiar with the matter. The revisions would walk back key parts of the landmark proposal – including one that might have had a…
Read MoreHeineken to close one of its breweries in Vietnam
Heineken Vietnam, a unit of the world’s second-largest brewer Heineken, has informed authorities about plans to close of one of its breweries in the South-east Asian country due to weak demand, state media reported on Monday (Jun 24). The facility being shut down is located in the central province of Quang Nam province, the Quang…
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