Posts by Mark Darwin
Trek 2000 divests stake in Terrenus Energy valued at around S$8.2m
The shares are currently held as investment and do not generate any income or revenue for FY2024 [SINGAPORE] Technology provider Trek 2000 International announced on Thursday (Jul 17) that it will be disposing of its 4.3 per cent stake in Terrenus Energy back to the renewable energy solutions provider, with the net proceeds to be…
Read MoreCompanies look to AI to enable financial resilience amid global volatility: DBS survey
[SINGAPORE] Businesses around the world are rethinking long-term strategies as volatility rises, with generative artificial intelligence (Gen AI) tools of particular interest, based on a global survey by DBS released on Wednesday (Jul 16). With companies polled in two batches – before and after the so-called “Liberation Day” US tariffs in April – data-driven financial…
Read MoreChinese shipyards’ market share falls to 52% amid US port fees concerns, says Bimco
[SINGAPORE] The market share of Chinese shipyards dropped by almost a third from January to June this year amid concerns about upcoming fees on Chinese ships entering US ports, shipping trade body Bimco said. However, China is unlikely to be unseated from its leading position in the near future because of capacity constraint elsewhere as…
Read MoreAmara announces it will delist from SGX mainboard on Jul 21
[SINGAPORE] Hotel and property group Amara Holdings announced on Thursday (Jul 17) that it will be officially delisted from the mainboard of the Singapore Exchange as at 9 am on Jul 21. On Jun 10, Amara’s privatisation offer had succeeded, where valid acceptances amounted to close to 97.8 per cent of the total shares. The…
Read MoreAsia: Stocks struggle as traders eye Fed saga, trade war
[HONG KONG] Asian markets fluctuated on Thursday after a rollercoaster day on Wall Street punctuated by fears Donald Trump was considering sacking the head of the US Federal Reserve. Traders have walked a cautious line this week as they ascertain the trade outlook after the US president unveiled a flurry of fresh tariff threats, with…
Read MoreThailand seeks ways to curb gold price impact on currency
[BANGKOK] Thailand’s central bank and the finance ministry are discussing ways to address currency moves that are not aligned with fundamental factors, including the impact of gold prices, according to a deputy governor. Gold prices are among the non-fundamental factors affecting the baht’s movement and authorities are looking at ways to reduce the correlation between…
Read MoreHow Chinese consumer brands are muscling into South-east Asia
EVERY tourist arriving in Ho Chi Minh City visits the 110-year-old Ben Thanh Market. Its surrounding streets pulse with local eateries, coffee joints, and souvenir shops. Yet amid these Vietnamese staples stands a branch of Miniso, a lifestyle chain that may appear Japanese but is actually Chinese. Since entering Vietnam in 2016, the brand has…
Read MoreFed’s New York president says tariff economic impact is only just starting
[NEW YORK] US Federal Reserve Bank of New York President John Williams said that monetary policy is in the right place to allow central bankers to monitor the economy before taking their next steps, while warning that the impact of trade tariffs is only just starting to hit the economy. “Maintaining this modestly restrictive stance…
Read MoreStocks to watch: ST Engineering, FLCT, mm2 Asia, HRnetGroup, Ossia
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jul 17): ST Engineering: The group said on Thursday that its wholly owned subsidiary ST Engineering Urban Solutions and Singapore Power are selling their joint venture SPTel to AQX for S$290 million. The buyer is an investment platform owned by…
Read MoreGoldman Sachs profits jump as CEO eyes more merger activity
[NEW YORK] Goldman Sachs reported a jump in second-quarter profits on Wednesday behind significant increases in financial advisory revenues that chief executive David Solomon said could presage an uptick in dealmaking. “Anecdotally, the level of dialogue is significantly increased,” Solomon told analysts on a conference call after the investment bank’s earnings surpassed analyst estimates. There…
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