Posts by Stephanie Irvin
IFA’s holding company discounts are within reasonable range: Sinarmas Land
[SINGAPORE] Sinarmas Land defended the valuation methods used by the independent financial adviser (IFA) in the offer by Lyon Investments for shares in the company, in its response to queries by Singapore Exchange Regulation (SGX RegCo) on Tuesday (May 13). The company, after consulting the adviser W Capital Markets, said that the IFA had deemed…
Read MoreTrump says gifted Qatari plane will be temporary Air Force One
[WASHINGTON] US President Donald Trump said a luxury jet being offered by the government of Qatar would be used as a temporary Air Force One, indicating an intention to accept a gift that has sparked ethical and security concerns in Washington. “It will be used by our government as a temporary Air Force One, until…
Read MoreSamsung Electronics to buy FlaktGroup for 1.5 billion euros
Published Wed, May 14, 2025 · 08:53 AM [SEOUL] South Korea’s Samsung Electronics said on Wednesday that it has agreed to acquire all shares of FlaktGroup, a German maker of air conditioning and heating systems, for 1.5 billion euro (S$2.2 billion) from European investment firm Triton. This would be the tech giant’s biggest acquisition since…
Read MoreAustralia sues Macquarie Securities for misreporting of short sales
Published Wed, May 14, 2025 · 08:31 AM AUSTRALIA’S corporate regulator said on Wednesday it had started legal action against Macquarie Securities (Australia) (MSAL), accusing the firm of misleadingly reporting millions of short sales for over 14 years. The Australian Securities and Investments Commission (ASIC) filed proceedings in the New South Wales Supreme Court, alleging…
Read MoreTrump to rewrite AI chip curbs reviled by Nvidia and US allies
[HONG KONG] The Trump administration plans to overhaul regulations on the export of semiconductors used in artificial intelligence (AI), tossing out a Biden-era approach that had drawn strenuous objections from US allies and companies including Nvidia and Oracle. Under the move announced on Tuesday (May 13) by the Commerce Department, the US is rescinding the…
Read MoreAirbnb revamps app with luxury services, curated tours in push beyond stays
[NEW YORK] After more than a year of teasing expansion plans beyond home rentals, Airbnb launched an overhauled app that’s not just for homeowners and travellers, but also for personal chefs, hair stylists, trainers and tour operators to offer their services widely. The company, whose name has become synonymous with vacation stays, revealed its new…
Read MoreSri Trang Agro-Industry back in the black with Q1 profit of 688.7 million baht
[SINGAPORE] Rubber group Sri Trang Agro-Industry posted a net profit of 688.7 million baht (S$27 million) in the first quarter ended Mar 31. This was a reversal from the net loss of 329.7 million baht in Q1 the year before, when El Nino had a significant impact on the group’s operations, Sri Trang Agro-Industry said…
Read MoreBRC Asia H1 profit rises 9% to S$42.1 million
[SINGAPORE] Steel solutions provider BRC Asia reported on Tuesday (May 13) a 9 per cent year-on-year increase in net profit for the first half of the year to S$42.1 million, from S$38.5 million in the year-ago period. Revenue fell 6 per cent to S$715.6 million from S$758.3 million in the year before. “While the construction…
Read MoreWall St muted at open after April inflation data
Published Tue, May 13, 2025 · 09:41 PM [NEW YORK] Wall Street’s main indexes were subdued at the open on Tuesday (May 13), as investors assessed the latest inflation numbers and their impact on monetary policy after markets came off sharp gains from the temporary Sino-US trade truce. The Dow Jones Industrial Average rose 97.2 points,…
Read MoreSea swings into the black in Q1 with US$410.8 million profit
[SINGAPORE] Sea reported first-quarter 2025 earnings of US$410.8 million, reversing from a loss of US$23 million in Q1 2024 on Tuesday (May 13). Revenue for the quarter rose 29.6 per cent to US$4.8 billion from US$3.7 billion a year prior. This was a slight miss from US$4.88 billion to US$4.84 billion forecast by a Bloomberg…
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