Posts by Mark Darwin
BP to sell 65% stake in Castrol to Stonepeak for US$6 billion
The sale proceeds, which include US$800 million for accelerated dividend payments, will be used to reduce debt [LONDON] BP said on Wednesday (Dec 24) that it had agreed to sell a 65 per cent stake in Castrol to investment firm Stonepeak for about US$6 billion, in a deal that values the oil major’s lubricants unit…
Read MoreSanofi to buy Dynavax for US$2.2 billion to add shingles vaccine
[PARIS] Sanofi agreed to buy Dynavax Technologies for about US$2.2 billion to expand its vaccines business with a shot for hepatitis B and an experimental shingles inoculation. Sanofi will pay US$15.50 a share in cash for the Emeryville, California-based company, according to a statement on Wednesday (Dec 24). The price is 39% above Tuesday’s closing…
Read MoreNam Cheong sells vessel for US$20.5 million to Vietnam firm
The sale is expected to contribute positively to the group’s earnings for the financial year ending 2025 [SINGAPORE] Malaysian offshore support vessel builder Nam Cheong will sell a 4,000 deadweight tonnage platform supply vessel for US$20.5 million to a Vietnam-based offshore and marine group. The vessel is scheduled for delivery in December 2025 and the…
Read MoreSingapore stocks end slightly lower before festive break; STI down 0.06%
Meanwhile, the iEdge Singapore Next 50 Index rises 0.1% or 1.61 points to 1,448.61 [SINGAPORE] Singapore shares ended slightly lower on Wednesday (Dec 24) before investors took a break for Christmas, even as Wall Street closed higher on the back of a strong growth forecast for the US. The benchmark Straits Times Index (STI) slipped…
Read MoreMalaysia’s Petronas signs LNG supply deal with China’s CNOOC
[KUALA LUMPUR] Malaysian state-owned energy firm Petroliam Nasional said on Wednesday (Dec 24) it would supply Chinese offshore oil and gas company CNOOC with 1 million tonnes per annum of liquefied natural gas (LNG). The agreement between Petronas LNG and CNOOC Gas and Power Singapore Trading & Marketing builds upon existing cooperation between the two…
Read MoreStocks to watch: Manulife US Reit, Nam Cheong
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Dec 24): Manulife US Real Estate Investment Trust (Manulife US Reit): The Reit manager posted an update on Wednesday that the master restructuring agreement concessions, which include an extension of its asset disposal deadline and temporary relaxation of its…
Read MoreWall Street opens lower as yields rise after GDP data
[NEW YORK] US stock indexes opened lower on Tuesday (Dec 23) after stronger-than-expected economic data drove Treasury yields higher, weighing on heavyweight technology stocks. At 09.30 am ET, the Dow Jones Industrial Average fell 62.81 points, or 0.13 per cent, to 48,299.87. The S&P 500 lost 4.69 points, or 0.07 per cent, to 6,873.80, while…
Read MoreChina’s renminbi climbs to 15-month high, overcoming weak PBOC fixing
On Dec 23, onshore yuan ends at 7.0287 per US dollar, while its offshore counterpart fetches 7.0181 at 4.30pm SGT [SHANGHAI] China’s renminbi climbed to a 15-month high against a weakening US dollar on Tuesday (Dec 23), even as the central bank signalled rising unease over the currency’s recent rally via its official guidance fix.…
Read MoreA Trump-inspired ‘Big Beautiful’ baby bonus could help birth the next boom for Singapore equities
It wouldn’t cost much relatively, and it could pave the way for stock investments to be part of our lives – while helping to make SGX great again [SINGAPORE] US President Donald Trump is one of the most divisive figures in recent history. And it is not often that his policies – and outlandish remarks…
Read MoreCitigroup, Daiwa are latest to expand Japan dealmaking teams
This is due to hostile takeovers no longer being taboo, and private equity and activist investors are more prominent [TOKYO] It is a good time to be an investment banker in Japan, with Citigroup and Daiwa Securities Group joining a raft of firms that are seeking to expand their advisory teams during the nation’s dealmaking…
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