Posts by Mark Darwin
Singapore’s Carro eyes M&A, Australia foray ahead of potential dual listing
It will also be the first major automotive tech and commerce startup from Singapore to go public in the US [SINGAPORE] Carro, South-east Asia’s largest used-car online marketplace, is weighing a dual listing and plans to bulk up for it by expanding into Australia and pursuing two to three acquisitions as early as the next…
Read MoreSGX to launch index that tracks listcos beyond STI: Chee Hong Tat
The STI comprises the 30 largest companies by market capitalisation, but represents only a portion of SGX’s listed companies [SINGAPORE] The Singapore Exchange (SGX) will be launching an index that tracks listed companies that are not constituents of the Straits Times Index (STI), as part of efforts to showcase its broader equity market, said Monetary…
Read MoreGlobal EV sales growth slows to 15% in August, research firm says
GLOBAL sales of fully electric and plug-in hybrid vehicles grew 15 per cent in August from a year ago, marking the slowest rate since January and reflecting tougher comparatives, market research firm Rho Motion said on Friday (Sep 12). China’s electric vehicle (EV) sales growth, which averaged 36 per cent a month in the first…
Read MoreUS, Japan reaffirm FX commitments, leave room for interventions
[TOKYO] The United States and Japan reaffirmed their commitment to “market determined” exchange rates, while agreeing that foreign exchange interventions should be reserved for combating excess volatility, according to a joint statement released on Friday. The latest agreement also notably made no new demands by the Trump administration on Tokyo around foreign exchange or other…
Read MorePetronas delivers first local sustainable aviation fuel to Malaysia Airlines
The announcement comes as the country looks to build domestic production, blending, and supply of SAF [KUALA LUMPUR] Malaysia’s state energy firm Petroliam Nasional Berhad, or Petronas, said on Friday (Sep 12) that it had delivered the country’s first locally-blended sustainable aviation fuel (SAF) for Malaysia Aviation Group, the operator of national carrier Malaysia Airlines.…
Read MoreYangzijiang Financial closes 7.4% higher amid heavy trading, hits record in intra-day trade
The company will be added to STI’s reserve list, comprising the five highest-ranking non-constituents of the index by market capitalisation [SINGAPORE] Shares of Yangzijiang Financial hit an all-time high on Friday (Sep 12) morning. The stock climbed to S$1.17 at 9.43 am, with some 24.8 million shares transacted. This was 8.3 per cent or S$0.09…
Read MoreCanada PM names key projects to jumpstart Trump-hit economy
[ALBERTA, Canada] Canada’s Prime Minister Mark Carney unveiled his initial list of major national projects on Thursday, backing critical minerals, nuclear power and port expansion to bolster an economy threatened by US President Donald Trump. Doubling production of liquified natural gas was also on the list from the prime minister, who has vowed to speed…
Read MoreIReit Global’s German subsidiaries served with payment order by former tenant
The dispute stems from a dilapidation cost agreement made with the former main tenant of its Berlin Campus [SINGAPORE] Subsidiaries of IReit Global have been served with a payment order filed by Deutsche Rentenversicherung Bund (DRV), the former main tenant of its Berlin Campus, in a move that escalates a potential legal dispute into a…
Read MoreUS: Wall St opens higher after inflation data keeps rate cut bets firm
[NEW YORK] Wall Street’s main indexes opened slightly higher on Thursday (Sep 11) after the latest inflation reading kept the US central bank on track to deliver an interest rate cut later this month. The Dow Jones Industrial Average rose 86.2 points, or 0.19 per cent, at the open to 45,577.09. The S&P 500 rose…
Read MoreLow Keng Huat sinks into the red with S$10.2 million net loss in H1
The property developer’s half-year revenue tumbles 85% to S$38.7 million, from S$257.9 million the previous year [SINGAPORE] Property developer Low Keng Huat has sunk into the red with a net loss of S$10.2 million for its first half ended Jul 31, compared with a net profit of S$5.8 million in the previous corresponding period. Its…
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