Posts by Mark Darwin
Trust Bank’s FY2024 net interest income soars 124.7% to S$72.8 million; losses narrow
Deposit balances double to S$3.8 billion, from S$1.9 billion a year ago, attributable to the launch of Trust+ [SINGAPORE] Trust Bank on Friday (May 23) reported net interest income of S$72.8 million for the financial year ended Dec 31, 2024, up 124.7 per cent from S$32.4 million a year ago. Revenue more than doubled to…
Read MoreTrust Bank’s FY2024 loss narrows to S$93.4 million
Deposit balances double to S$3.8 billion, from S$1.9 billion a year ago, attributable to the launch of Trust+ [SINGAPORE] Trust Bank on Friday (May 23) reported a loss of S$93.4 million for the financial year ended Dec 31, 2024, narrowing from a loss of S$128.4 million a year ago. Revenue more than doubled to S$97…
Read MoreSTI inches up on Friday, tracking regional indices
[SINGAPORE] The Straits Times Index (STI) edged up on Friday (May 23), tracking regional indices. The STI closed up 0.1 per cent or 2.33 points to 3,882.42. Across the broader market, advancers outnumbered decliners 232 to 213, after 1.2 billion shares worth S$1.2 billion changed hands. The trio of local banks closed higher on…
Read MoreGrab launches its first Centre of Excellence to support AI solutions
[SINGAPORE] Grab launched its first Artificial Intelligence (AI) Centre of Excellence on Friday (May 23). Supported by Digital Industry Singapore, the centre will work on projects to utilise AI solutions to impact three key areas: accessibility, productivity and growth, and smart-nation capabilities across South-east Asia. The centre is also set to generate at least 50…
Read MoreMorgan Stanley says Singapore market is a ‘safe haven’, raises price target for this sector
[SINGAPORE] Analysts from Morgan Stanley are strong on Singapore equities, as the market continued to outperform global stocks year to date – with a total return of 13 per cent. The local market has recorded such outperformance since 2024, pressing on as investor allocations shifted more defensively amid higher global trade uncertainties this year. “Singapore’s…
Read MoreSchool proximity may boost home prices – but not everywhere: DBS report
[SINGAPORE] Property developers such as GuocoLand could benefit from a potential rise in home prices near popular primary schools, particularly in emerging areas like Tengah New Town. Still, DBS Group Research cautioned in a report, titled “Primary school premium: Fact or Fiction?”, that price appreciation also depends on factors such as transport access, tenure, and…
Read MoreOnlyFans owner in talks to sell to investor group at about US$8 billion value: sources
[LOS ANGELES] OnlyFans owner Fenix International is in talks to sell the porn-driven company to an investor group at a valuation of around US$8 billion, three sources familiar with the matter told Reuters. The group is led by the Forest Road Company, a Los Angeles-based investment firm, the sources said. Reuters could not identify the…
Read MoreJapan pledges immediate rice relief for consumers to prevent shift to foreign brands
[TOKYO] Japan’s new agriculture minister pledged on Friday to quickly move rice from government stockpiles to store shelves where they would be offered at prices significantly lower than current levels, seeking to stem a consumer shift to cheaper, foreign brands. Soaring rice prices, due in part to crop damage from extreme heat and additional demand…
Read MoreBank of Japan to closely watch bond market situation: governor
Published Fri, May 23, 2025 · 07:46 AM [BANFF, Canada] Bank of Japan Governor Kazuo Ueda said on Thursday the central bank will closely monitor the bond market amid surging yields on super-long Japanese government bonds. “I would decline to comment specifically on short-term developments of interest rates, but of course we will closely watch…
Read MoreUS: Stocks mixed as bond yields moderate
Published Fri, May 23, 2025 · 06:10 AM [NEW YORK] Wall Street stocks finished mixed on Thursday as US Treasury bond yields moderated following House passage of President Donald Trump’s mammoth tax cut legislation. A spike on Wednesday in yields on 10- and 30-year US bonds sent stocks sharply lower amid revived worries about a sell-off in US assets…
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