Posts by Mark Darwin
OCBC doubles down on Greater China growth, aims to invest HK$1.5 billion into its tech and facilities in the region
OCBC is banking on China’s improving economic condition and resultant positive spillovers into Asia as key growth drivers, as it plans further investments into its services across the Greater China region. The bank aims to invest HK$1.5 billion (S$259.1 million) into its technology and facilities in Greater China – which includes the China, Hong Kong,…
Read MoreConocoPhillips to buy Marathon Oil for US$22.5 billion in latest energy merger
ConocoPhillips on Wednesday (May 29) agreed to buy Marathon Oil in a US$22.5 billion deal, the latest in a series of mega-mergers in the oil and gas industry as companies look to bolster reserves. The US oil and gas industry has been riding a consolidation wave over the last two years. Last year was one…
Read MoreApple to open Malaysia store on Jun 22 in South-east Asia push
APPLE will open its first retail location in Malaysia next month as it expands its presence in South-east Asia to augment both sales and operations outside of China. The company’s first store in the country is at The Exchange TRX mall in Kuala Lumpur. The company announced the opening on its website on Wednesday (May…
Read MoreNew BYD hybrid can drive non-stop for more than 2,000 km
BYD unveiled a new hybrid powertrain capable of travelling more than 2,000 kilometres without recharging or refuelling, intensifying the electric vehicle (EV) transition war against Toyota Motor and Volkswagen. The upgraded tech, which aims to put more distance between BYD and its legacy rivals, will be launched in two sedans immediately that cost under 100,000…
Read MoreS$3 billion money laundering case: Accused Su Jianfeng handed two new charges, faces 14 charges in total
BARELY two weeks after being given six new forgery charges, money laundering accused Su Jianfeng was on May 29 handed two more charges under the Employment of Foreign Manpower Act. His first new charge alleges he abetted by conspiring with Lim Jun Da and Shi Haitao to falsely declare to the Ministry of Manpower’s Controller…
Read MoreWorld’s largest nuclear plant sits idle while energy needs soar
ON JAPAN’S windy western coast, in a region known for heavy snowfall and sake brewing, the world’s largest nuclear plant sits idle. The Kashiwazaki Kariwa (KK) Nuclear Power Plant, a sprawling 4.2-million square metre complex by the sea, was once the crown jewel in Japan’s strategy to boost atomic power to 50 per cent of…
Read MoreValuetronics posts 18.9% increase in H2 profit to HK$77.4 million
Valuetronics : BN2 0% Holdings : BN2 0%, which provides electronics manufacturing services, on Wednesday (May 29) posted an 18.9 per cent increase in net profit for the second half ended Mar 31, 2024. Net profit for the six-month period stood at HK$77.4 million (S$13.4 million), compared with a net profit of HK$65.1 million posted…
Read MoreStocks to watch: Singtel, LMIRT, The Hour Glass, CDL, Cortina, Delfi, Valuetronics
THE following companies saw new developments that may affect trading of their securities on Wednesday (May 29):
Read MoreFrom ‘panda’ to ‘skunk’: China firms now shunned in US
FOR most of his 30 years running a Chinese-owned company in the United States, Ni Pin felt welcomed. He set up auto parts maker Wanxiang America – a unit of a Chinese conglomerate founded by his late father-in-law – in Chicago back in 1994 when he was studying for a PhD. The company came to…
Read MoreChina financial firms are unusually cash-rich as savers pile in
CASH is so abundant in China’s financial markets that even traditionally liquidity-starved firms are swimming with money. Non-bank institutions like asset managers are sailing through the last few days of May, as their short-term borrowing costs remain stable after climbing at the end of 10 out of the last 12 months. That’s because Chinese residents,…
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