Posts by Stephanie Irvin
Indonesia’s Pertamina seeks petrol for July-December, excludes Singapore supply
Indonesia is considering a cut to fuel imports from Singapore and instead increase supply from the US Published Mon, May 19, 2025 · 04:54 PM [SINGAPORE/JAKARTA] Indonesia’s Pertamina has issued five tenders to buy nearly three million barrels of petrol a month for delivery between July and December, and excluded Singapore as the origin of…
Read MoreKwek Poh Heok named new CEO of Business China; Ho Chee Hin exits into public sector
[SINGAPORE] Kwek Poh Heok has been appointed the new chief executive of Business China, with effect from Jul 1. She succeeds Ho Chee Hin who served as CEO from January 2023 and will return to the public sector. Ho was responsible for starting several youth programmes, including the Youth Interns Exchange Scheme, the Youth Knowledge Programme, and the…
Read MoreHong Kong dollar falls to near one-year low on flush cash conditions
[HONG KONG] The Hong Kong dollar weakened to a near one-year low against the US dollar on Monday (May 19), reversing the strength seen two weeks ago, as falling borrowing costs in the financial hub on the back of flush cash conditions led to a return of carry trades. The loose liquidity conditions come after…
Read MoreAnalysts say SIA is fairly valued, with several raising target price
[SINGAPORE] Analysts have commented that the share price of Singapore Airlines (SIA) is fairly valued at the moment, even as several lifted their target price and recommended a “hold” on the stock, after the airline group published its financial year 2025 financial results. Their projections for FY2026 net profit range from S$900 million to S$1.4…
Read MoreAlibaba shares slide as AI deal with Apple faces US scrutiny
[HONG KONG] Shares of Alibaba Group Holding slumped after a report that the Trump administration has raised concerns over Apple’s potential deal with the Chinese technology firm. Alibaba’s stock dropped as much as 4.8 per cent on Monday (May 19) in Hong Kong, leading declines on the Hang Seng China Enterprises Index. The broader gauge…
Read MoreChinese trader who made US$1.5 billion on gold builds a giant bet on copper
[SINGAPORE] A reclusive Chinese billionaire whose prescient gold trades turned into an eye-catching windfall has now become the country’s biggest copper bull, amassing a bet worth nearly US$1 billion in a market jolted by escalating competition between the US and China. Bian Ximing, who made an early fortune in plastic tubes before seeking a quiet…
Read MoreGold rises as US dollar slips, Trump tariff threats fuel safe-haven demand
Markets are expecting 54 basis points of rate cuts this year, with the reductions now seen starting from October Published Mon, May 19, 2025 · 09:25 AM [BENGALURU] Gold prices rose more than 1 per cent on Monday (May 19) as the US dollar weakened and as US Treasury Secretary Scott Bessent reaffirmed US President…
Read MoreStocks to watch: Frasers Centrepoint Trust, Sinarmas Land, Creative, Econ Healthcare
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (May 19). Frasers Centrepoint Trust (FCT): The acquisition of Northpoint City’s south wing may be financed either with or without the issuance of perpetual securities, said FCT’s manager in a bourse filing on Saturday. Proceeds from FCT’s recent equity…
Read MoreCarlyle on Japan hiring spree after new US$3 billion buyout fund
[TOKYO] Carlyle Group said it is on course to hire 10 investment professionals in Tokyo as it starts dealmaking for its latest 430 billion yen (S$3.8 billion) Japan buyout fund. The Washington-based private equity firm has already made four junior to mid-level hires this year, and aims to add six more by December, according to…
Read MoreGlobal chip giants converge on Taiwan for Computex
[TAIPEI] Global semiconductor chip giants will gather at Taiwan’s top tech expo this week to showcase “the next frontier” for an industry dominated by artificial intelligence. Nvidia boss Jensen Huang will make a keynote speech on Monday, the eve of Computex, as the tech sector grapples with the impact of US tariffs and disrupted supply…
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