Posts by Stephanie Irvin
Maybank downgrades Malaysia’s Tan Chong Motor to ‘sell’ amid widening losses, competition
[SINGAPORE] Maybank Investment Bank has downgraded Malaysia’s Tan Chong Motor (TCM) to “sell”, from “hold” previously, amid widening losses, weak product appeal and intensifying competition. Despite the downgrade, Maybank maintained its target price for the Bursa-listed company at RM0.38, based on an unchanged 0.1 times its forecast book value for FY2025. TCM is the franchise…
Read MorePort congestion at Asian ports reported; Singapore’s average waiting time up to 1.5 days
[SINGAPORE] Port congestion has been reported at Asian ports, with Singapore being one of those impacted – the berth waiting time at the world’s top transhipment hub is said to be between 12 and 36 hours. Liner Hapag-Lloyd’s customers were updated as at May 26 that some Asian ports were facing increased waiting times due…
Read MorePeirce Hill bungalow owned by wife of 3AC’s Kyle Davies sells for S$37 million
[SINGAPORE] A bungalow in Peirce Hill owned by the wife of failed Three Arrows Capital (3AC) co-founder Kyle Davies, is in the early stage of being sold, at S$37 million. The price works out to S$2,144 per square foot on the freehold land area of 17,260 sq ft. The property, which is in the Ridout…
Read MoreBYD shares extend losses as price cuts throw spotlight on sales
[HONG KONG] BYD shares extended losses in Hong Kong trading on Tuesday (May 27) – taking their two-day slide to more than 10 per cent – as last week’s sweeping price cuts stoked concern of another wave of discounting in China’s cutthroat electric car market. The stock fell as much as 4 per cent in…
Read MoreAsia: Stocks fluctuate as traders await next moves in Trump trade war
[HONG KONG] Equities meandered on Tuesday as investors awaited the latest developments on Donald Trump’s trade war, while the yen rallied after the head of Japan’s central bank flagged more interest rate hikes if the economy improved. With Wall Street closed for a holiday, there were few major catalysts to drive business, though investors remain on…
Read MoreCerberus eyes Chinese firm’s Darwin port: report
[CANBERRA] US private equity firm Cerberus Capital Management is preparing a bid for the strategically important Port of Darwin, currently owned by Chinese firm Landbridge Group, The Australian newspaper reported. Cerberus is readying a proposal to buy the 99-year lease from Landbridge at a price slightly above the A$506 million (S$421 million) the Chinese company…
Read MoreGold edges higher as dollar dips, US fiscal worries mount
Published Tue, May 27, 2025 · 09:54 AM [BENGALURU] Gold prices edged up on Tuesday (May 27), supported by a weaker US dollar and concerns over the US fiscal outlook, while investors looked for further clarity on trade policy after US President Donald Trump postponed a planned tariff hike on European goods. Spot gold was…
Read MoreJapanese bonds yields fall ahead of test at 40-year auction
[TOKYO] Yields on Japanese super-long bonds fell ahead of an auction on Wednesday (May 28) that is expected to test demand following a recent sale that sent jitters through global markets. Yields on 40-year and 30-year maturities slid 10 basis points in Tokyo on Tuesday, adding to drops in recent days. These moves followed sharp…
Read MoreSingapore-based Quadria’s 3rd healthcare fund closes at US$1.1 billion, above US$800 million target
[SINGAPORE] Quadria Capital, a Singapore-based private equity (PE) firm, announced on Tuesday (May 27) the final close of its third healthcare fund at nearly US$1.1 billion. That is above the original target of US$800 million, said the healthcare-focused company, which manages more than US$4 billion across 27 investments in South and South-east Asia. Its investors…
Read MoreTrump Media to raise US$3 billion to spend on cryptocurrencies: report
The company behind Truth Social, a streaming and social media platform, has been exploring potential mergers and acquisitions as it aims to diversify into financial services Published Tue, May 27, 2025 · 06:49 AM [BENGALURU] US President Donald Trump’s social media firm, Trump Media & Technology Group, plans to raise about US$3 billion to spend…
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