Posts by Mark Darwin
ST Engineering divests entire equity interest in US-based construction player LeeBoy for US$290 million
[SINGAPORE] Singapore Technologies Engineering (ST Engineering) on Tuesday (Jun 24) announced that it will be selling its entire equity interest in ST Engineering LeeBoy, a US-based construction equipment manufacturer, for an estimated US$290 million. The net proceeds from the sale will amount to around US$246 million, and will be used for debt repayment, resulting in…
Read MoreLabubu’s Pop Mart share tumble does not faze analysts, who flag company’s growth story
[SINGAPORE] Analysts are still bullish on Chinese toy company favourite – Pop Mart International Group – despite its recent share price plunge, in view of its sustained popularity as an intellectual property (IP)-centric company. The Labubu craze has sent Pop Mart’s shares up by more than 170 per cent since the start of the year.…
Read MoreChina’s wealth fund pulls plug on US$1 billion private equity sale
[BEIJING] China’s sovereign wealth fund has pulled its planned sale of US$1 billion in US fund stakes tied to some of the biggest names in private equity. Earlier this year, China Investment Corporation (CIC) looked to offload fund positions with firms including Carlyle Group, KKR, and TPG to reduce its US exposure. Months later, it…
Read MorePing An builds HK$180 billion stake in China banks on dividend bet
[HONG KONG] Ping An Insurance Group, as well as other Chinese insurers, have ramped up investments in the nation’s biggest banks on a bet that the dividend yields will outweigh headwinds of narrower margins and earnings pressure. Ping An has since late 2024 boosted its holdings of Hong Kong-listed stocks in some of the nation’s…
Read MoreBlackBerry raises annual revenue forecast on robust demand for cybersecurity services
The Waterloo-based company’s expects revenue between US$234 million and US$244 million for the unit, from its prior forecast of US$230 million to US$240 million Published Wed, Jun 25, 2025 · 07:05 AM [MEXICO CITY] Canada’s BlackBerry raised its annual revenue forecast on Tuesday (Jun 24), anticipating steady demand for its cybersecurity services amid growing online…
Read MoreUS: Wall St indexes open higher after Trump’s Israel-Iran ceasefire announcement
Published Tue, Jun 24, 2025 · 09:43 PM [NEW YORK] Wall Street’s main indexes opened higher on Tuesday (Jun 24) as President Donald Trump announced a ceasefire between Israel and Iran, calming investor nerves after the 12-day conflict hurt global risk assets and fanned inflation concerns. The Dow Jones Industrial Average rose 225.3 points, or…
Read MoreSingapore shares rise on Israel-Iran ceasefire; STI up 0.7%
[SINGAPORE] Local shares ended higher on Tuesday (Jun 24), tracking a rally on Wall Street after the US brokered a ceasefire in the conflict between Israel and Iran. The benchmark Straits Times Index (STI) gained 0.7 per cent or 25.04 points to 3,904.3. Across the broader market, gainers outnumbered losers 346 to 174, after 1.2 billion…
Read MoreCiti appoints Nathan Swami as new head of markets for Singapore
He has more than 17 years of experience working with the bank in Singapore, primarily within the Apac trading division [Singapore] Citi on Tuesday (Jun 24) named its head of foreign exchange (FX) trading Nathan Swami as the new head of markets for Singapore. He will succeed Smith Smithangura, who served as head of markets…
Read MoreAsia: Stocks up as Trump announces Iran-Israel ceasefire
[TOKYO] Asian shares gained and oil prices were down on Tuesday, as fears of an energy market shock eased following US President Donald Trump’s announcement of a ceasefire between Iran and Israel. Investors were relieved that Iran did not retaliate to a US attack on its nuclear facilities by throttling oil transport through the strategic…
Read MoreAcrophyte Hospitality Trust mulls suspending or reducing distributions under strategy review
The manager says it faces challenges in funding the capital expenditures that many of its properties require [SINGAPORE] The managers of Acrophyte Hospitality Trust are considering temporarily suspending or reducing distributions, equity fundraising or a portfolio recalibration through brand repositioning among other options as part of its ongoing strategy review for the hospitality stapled group.…
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