Posts by Mark Darwin
Petronas is said to weigh sale of US$7 billion Canada business
Lower oil prices have hit the company, which reported a slide of more than 30% in net income in 2024 and announced job cuts that will start taking place this year Published Wed, Jun 4, 2025 · 01:24 PM [KUALA LUMPUR] Petroliam Nasional (Petronas) is considering options for its Canadian company formerly known as Progress…
Read MoreAsia: Stocks track Wall Street up after jobs data, Seoul surges on Lee win
[HONG KONG] Asian shares extended a global rise on Wednesday following data indicating the US economy remained resilient, with South Korean equities and the won standing out as the election of a new president ended months of political paralysis. Speculation that US President Donald Trump and Chinese leader Xi Jinping will speak this week stoked…
Read MoreJapan’s top banks said to mull joint ATM operation to cut costs
Published Wed, Jun 4, 2025 · 11:29 AM [TOKYO] MUFG Bank, Sumitomo Mitsui Banking and Mizuho Bank are considering jointly operating automated teller machines (ATMs) to reduce costs, said sources familiar with the matter. The units of Japan’s three biggest banking groups are discussing details of joint operation, said the sources, who asked not to…
Read MoreCapitaLand Malaysia Trust proposes sale of 435.4 million units to raise RM250 million
[SINGAPORE] The manager of CapitaLand Malaysia Trust (CLMT), a subsidiary of CapitaLand Investment, on Tuesday (Jun 3) proposed a placement of up to 435.4 million new units to raise gross cash proceeds of up to RM250 million (S$75.8 million). This will represent around 14.9 per cent of the total number of units in issue. The…
Read MoreGlobal funds weigh whether Indonesia market rebound was too fast
[JAKARTA] Indonesia’s financial markets have bounced back after a torrid few months, sparking a debate on whether the rally can last. RBC BlueBay says any inflows into Indonesian bonds will remain tactical until there’s more clarity on how the government will fund its growth plans, while Mirae Asset Sekuritas Indonesia warns that the recent rally…
Read MoreJapfa to delist from SGX on June 6
The agri-food company said privatisation would provide the offerors and management with greater flexibility to manage and grow the existing business [SINGAPORE] The agri-food company Japfa will be delisted from the official list of the Singapore Exchange (SGX) with effect from Friday, Jun 6, 2025, 9 am. This is earlier than the previous expected delisting…
Read MoreStocks to watch: CapitaLand Investment, Nio, Japfa, Stoneweg E-Reit, Grand Venture, Frencken
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jun 4). CapitaLand Investment (CLI): The manger of CapitaLand Malaysia Trust (CLMT), a CLI subsidiary, on Tuesday proposed a placement of up to 435.4 million new units to raise gross cash proceeds of up to RM 250 million (S$75.8…
Read MoreGlobal alarms rise as China’s critical mineral export ban takes hold
[WASHINGTON] Alarm over China’s stranglehold on critical minerals grew on Tuesday (Jun 3) as global automakers joined their US counterparts to complain that restrictions by China on exports of rare earth alloys, mixtures and magnets could cause production delays and outages without a quick solution. German automakers became the latest to warn that China’s export…
Read MoreTrump signs order hiking steel, aluminium tariffs to 50%
[WASHINGTON] US President Donald Trump signed a directive on Tuesday (Jun 3) raising steel and aluminium tariffs to 50 per cent from 25 per cent starting on Jun 4, following through on a pledge to boost import taxes to help domestic manufacturers. Trump cast the move, which takes effect at 12.01 am Wednesday as necessary…
Read MoreHPE posts strong revenue growth, sees reduced tariff impact
[NEW YORK] Hewlett Packard Enterprise (HPE) reported quarterly revenue that topped estimates and said it expects a reduced impact from tariffs on its business this year. Sales increased 6 per cent to US$7.63 billion in the fiscal second quarter, the Texas-based company said on Tuesday (Jun 3). Profit, excluding some items, was 38 US cents…
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