Posts by Stephanie Irvin
Malaysia committed to 2025 petrol subsidy cut but no fixed date
[KUALA LUMPUR] Malaysia is committed to reducing petrol subsidies in the second half of the year and is refining its plan as US tariffs darken the economic outlook. The government “will continue to assess inputs and feedback in refining details” of its fuel subsidy revamp as it actively engages with a wide range of stakeholders,…
Read MoreOng Beng Seng’s HPL jumps almost 10% in heavy trading; company says it’s not aware of reason for spike
[SINGAPORE] Shares of Hotel Properties Ltd (HPL) jumped almost 10 per cent in active trading on Friday morning (May 16), prompting queries from Singapore Exchange Regulation (SGX RegCo). At about 11.30 am, the counter was up 9.2 per cent at S$4.72 with over 350,000 shares traded, an unusual volume for the tightly held property and…
Read MoreMeta asks judge to rule that FTC failed to prove its monopoly case
FACEBOOK parent company Meta Platforms asked a federal judge on Thursday to throw out the US Federal Trade Commission’s case accusing it of an illegal social media monopoly, saying the agency failed to prove its case at a high-stakes antitrust trial. At the trial, which began on April 14 in Washington, the FTC has sought to show…
Read MoreHarvey Norman operator Ossia surges over 40% following privatisation offer from controlling shareholders
The offerors say the company faces a challenging environment in Singapore and abroad [SINGAPORE] Shares of Ossia jumped more than 40 per cent on Friday (May 16), after group executive chairman George Goh Ching Wah, chief executive Goh Ching Huat and non-executive director Goh Ching Lai made an unconditional offer on Thursday to take the…
Read MoreAustralia: Shares hit over two-month high, RBA rate decision in focus
AUSTRALIAN shares jumped to an over two-month high on Friday, led by gains in banks and miners, ahead of the Reserve Bank of Australia’s (RBA) policy decision next week, where the central bank is widely expected to cut interest rates. The S&P/ASX 200 index rose as much as 1.2 per cent to 8,398.2, its highest…
Read MoreStocks to watch: SIA, MIT, Sats, NetLink NBN Trust, Japfa, Amara, LHN
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (May 16). Singapore Airlines (SIA): The company posted a 65 per cent rise in net profit to S$2 billion for the second half of FY2025 ended March, boosted by the non-cash accounting gain from the Air India-Vistara merger. That…
Read MoreEx-Goldman banker leads China’s push to revive Hong Kong finance
[HONG KONG] The crowd was taken aback as China’s point person for financial matters in Hong Kong laid out plans to re-energise the city’s markets. Qi Bin’s proposals on topics including corporate governance were not shocking on their face, but the regulators and other policymakers gathered at the Grand Hyatt ballroom in January had rarely…
Read MoreWalmart shoppers to face price hikes as Trump tariffs hit
WALMART, the world’s largest retailer, will have to start raising prices later this month due to the high cost of tariffs, executives said on Thursday, in a clear signal that US President Donald Trump’s trade war is filtering through to the American economy. As a bellwether of US consumer health, Walmart‘s explicit statement is also a…
Read MoreJapfa expected to delist on Jun 10 as court sanctions scheme of arrangement
Last day of trading of its shares will be on May 16; trading in the counter will be suspended from 9 am on May 19 [SINGAPORE] Agri-food company Japfa is expected to delist from the mainboard of the Singapore Exchange on Jun 10, after the court on Thursday (May 15) sanctioned the scheme of arrangement…
Read MoreLHN net profit for H1 rises 8.8% to S$14.1 million
[SINGAPORE] LHN’s net profit for the first half ended March 31 rose 8.8 per cent to S$14.1 million from S$13 million in the year ago period. The real estate management services group’s revenue increased 29.4 per cent to S$70.6 million in H1, from S$54.5 million the year before. The increase was primarily attributed to revenue…
Read More