Posts by Stephanie Irvin
Bain Capital to sell China data centre business likely valued at over US$4 billion: sources
[HONG KONG] US investment firm Bain Capital is seeking to sell the China business of data centre operator WinTriX DC Group, in a deal that could value the business at over US$4 billion, two sources with knowledge of the situation said. Bain Capital has engaged with advisers who have held preliminary conversations with potential buyers…
Read MoreHow the Singapore dollar could perform against the US dollar this year
[SINGAPORE] The Singapore dollar and other Asian currencies are continuing to gain ground against the US dollar as the tariff fallout weighs on the greenback. The Singdollar opened the week firm at 1.29 to the US dollar – a level not seen since September 2024. Year-to-date, that’s a jump of about 5 per cent. On…
Read MoreF&N H1 net profit rises 0.3% to S$84.1 million as tax incentive expires
[SINGAPORE] Fraser and Neave (F&N) posted a 0.3 per cent rise in net profit to S$84.1 million for its first half ended Mar 31, from S$83.8 million a year earlier. This was mainly due to a higher effective tax rate following the expiry of a tax incentive, the food and beverage (F&B) group said on…
Read MoreUS sanctions on China refiners over Iran oil disrupt operations: sources
[SINGAPORE] Recent US sanctions on two small Chinese refiners for buying Iranian oil have created difficulties receiving crude and led them to sell product under other names, sources familiar with the matter said, evidence of the disruption that Washington’s stepped-up pressure is inflicting on Tehran’s biggest oil buyer. The targeting of independent refiners, known as…
Read MoreST Engineering posts 8% rise in Q1 revenue to S$2.9 billion
[SINGAPORE] ST Engineering’s revenue rose 8 per cent to S$2.9 billion for the first quarter ended March, from S$2.7 billion in the corresponding year-ago period, on the back of broad-based growth across all segments. In a business update on Friday (May 9), the group said this was led by “very strong growth” in its defence…
Read MoreOil prices rise 3% on support from US-China trade hopes
[NEW YORK] Oil prices rose around 3 per cent on Thursday (May 8), buoyed by hopes of a breakthrough in looming trade talks between the US and China, the world’s two largest oil consumers. Brent crude futures settled up US$1.72, or 2.8 per cent, at US$62.84 a barrel. US West Texas Intermediate crude rose US$1.84,…
Read MoreFar East Orchard Q1 net profit more than doubles to S$17.3 million
[SINGAPORE] Hospitality and student housing player Far East Orchard’s net profit more than doubled to S$17.3 million for the first quarter ended Mar 31, 2025, from S$6.9 million the previous corresponding period, the company announced on Thursday (May 8). The significant rise in its Q1 net profit was driven by a one-off gain of S$9.2…
Read MoreWeakening US dollar expected to yield mixed impact for Singapore companies with significant exposure
[SINGAPORE] Asian currencies have rallied against the US dollar on the back of concerns that US President Donald Trump’s tariff war will hurt the world’s largest economy. But market watchers warn that the Singapore dollar’s strength against the greenback could cut both ways for companies here. This week, the Singapore dollar rose to trade at…
Read MoreWeakening greenback to benefit Singapore firms with significant exposure to debts, costs in US dollar
[SINGAPORE] Asian currencies have rallied against the US dollar on the back of concerns that US President Donald Trump’s tariff war will hurt the world’s largest economy. But market watchers warn that the Singapore dollar’s strength against the greenback could cut both ways for companies here. This week, the Singapore dollar rose to trade at…
Read MoreBank Negara Malaysia holds rate at 3% amid output growth, flags tariff risks
[KUALA LUMPUR] Malaysia’s central bank kept its key interest rate steady at 3 per cent on Thursday (May 8), opting for policy stability amid resilient domestic demand and a better-than-expected rebound in industrial activity, even as clouds gather over global trade due to rising US tariffs and geopolitical tensions. Bank Negara Malaysia said the decision…
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