Posts by Stephanie Irvin
Ossia controlling shareholders offer S$0.16 a share to take it private
[SINGAPORE] The controlling shareholders of Ossia International – group executive chairman Goh Ching Wah, chief executive Goh Ching Huat, and non-executive director Goh Ching Lai – have made an unconditional offer on Thursday (May 15) to take the lifestyle products retailer and distributor private at S$0.16 a share. The joint offerors are brothers; and collectively,…
Read MoreNetLink NBN Trust’s net profit slips 6.9% to S$46.9 million for H2 FY2025
[SINGAPORE] Internet service provider NetLink NBN Trust posted a 6.9 per cent decrease in net profit to S$46.9 million for the second half ended Mar 31, 2025. NetLink’s earnings were impacted by higher depreciation and amortisation, lower income tax credit and higher finance costs, it said in a regulatory filing on Thursday (May 15). Revenue…
Read MoreSingapore biotech firm Mirxes launches IPO in Hong Kong to raise HK$1 billion
[SINGAPORE] Singapore biotech start-up Mirxes launched its initial public offering (IPO) in Hong Kong on Thursday (May 15) as it seeks to raise HK$1.09 billion (S$181 million) to further grow the business. The cancer diagnostics company, which once applied to list on the Singapore Exchange (SGX), is offering 46.62 million shares at HK$23.30 each. Some…
Read MoreIEA predicts slower oil demand growth for the rest of 2025
[LONDON] The International Energy Agency (IEA) said on Thursday (May 15) that economic headwinds combined with record sales of electric vehicles will slow global oil demand growth for the remainder of 2025, as supply is set to jump from planned Opec+ output hikes. Lower oil prices stemming from trade tensions and rising output are impacting…
Read MoreSingtel’s new 5G+ Priority plans are key for its premium customer push
[SINGAPORE] Premium customers remain top of mind for Singtel with new 5G+ Priority plans. The new plans promising faster streaming speeds and priority access to the network were launched on Thursday (May 15). They offer customers four times faster speeds and ultra-low latency, which translates to smoother streaming speeds, ultra-responsive gaming and uninterrupted video…
Read MoreShein to set up huge Vietnam warehouse in US tariff hedge: sources
[HANOI, SHANGHAI] Fast-fashion online retailer Shein is leasing a huge warehouse in Vietnam, two people familiar with the deal told Reuters, its first in the country, in a move that could reduce its exposure to unpredictable US-China trade tensions. Shein, which was founded in China and sells products including US$5 bike shorts and US$18 sundresses,…
Read MoreTrump wants Apple to stop moving iPhone production to India
The US president’s comments throw a wrench into Apple’s plan to import most of the iPhones it sells in the US from India by the end of next year Published Thu, May 15, 2025 · 04:17 PM [DOHA] US President Donald Trump said he has asked Apple’s Tim Cook to stop building plants in India,…
Read MoreShein lowers prices to lure back US shoppers after tariff cut
Levies have only been lowered for 90 days, and are still higher than before Trump retook office Published Thu, May 15, 2025 · 02:22 PM [NEW YORK] Shein Group lowered US retail prices this week after the Trump administration temporarily cut duties on Chinese imports, as the online fashion retailer moves to win back consumers…
Read MoreGeely profits surge on record sales as reshuffle underway
[HONG KONG] Geely Automobile Holdings, the Hong Kong-listed unit of billionaire Li Shufu’s sprawling auto empire, said that first-quarter profit surged as sales climbed and it continued on a cost-cutting drive to stay on top of China’s ultra-competitive car market. Net income more than tripled to 5.67 billion yuan (S$1 billion) in the three months…
Read MoreOliver Healthcare Packaging opens largest regional plant in Johor-Singapore SEZ
[ISKANDAR PUTERI] United States-based medical packaging company Oliver Healthcare Packaging on Thursday (May 15) opened a 120,000 square foot (sq ft) manufacturing facility within the Johor-Singapore Special Economic Zone in Malaysia. The facility, its largest plant in the region, will produce medical-grade packaging such as pouches, lids and roll stock, the group said in a…
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