Posts by Stephanie Irvin
China’s Sinopec partners with Saudi Aramco’s unit in 28.8 billion yuan JV
Published Mon, Apr 28, 2025 · 08:32 PM [BENGALURU] China’s state-run Sinopec said on Monday (Apr 28) it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company with a registered capital of 28.80 billion yuan (S$5.2 billion). The agreement was signed by Sinopec, its unit Fujian Petroleum Chemical…
Read MoreStoneweg European Reit Q1 DPU falls 3.7% to 3.374 euro cents
[SINGAPORE] The distribution per unit (DPU) of Stoneweg European Real Estate Investment Trust (SERT) declined 3.7 per cent to 3.374 euro cents for the first quarter ended Mar 31, from 3.505 euro cents in the year-ago period. This was despite a 2.4 per cent increase in net property income to 33.5 million euros (S$49.9 million),…
Read MoreLMIRT Q1 net property income dips 2.4% to S$29.2 million
[SINGAPORE] Lippo Malls Indonesia Retail Trust (LMIRT) on Monday (Apr 28) posted a 2.4 per cent decline in net property income to S$29.2 million for the first quarter ended Mar 31, from S$29.9 million a year prior. This came amid a 3.4 per cent depreciation of the rupiah to the Singapore dollar, said the trust’s…
Read MoreSingapore stocks close lower on Monday; STI falls 0.3%
The biggest decliner on the index is UOB, and the top gainer is Yangzijiang Shipbuilding [SINGAPORE] Shares on the Singapore market ended lower on Monday (Apr 28), after the city-state’s central bank sounded a cautious note about the economy’s growth outlook. The Republic’s latest employment report also cast more pessimism, with the government forecasting further…
Read MoreLatest NZ$2.80-per-share offer by CDL unit still ‘too low and inadequate’: M&C New Zealand
[SINGAPORE] The independent directors of Millennium & Copthorne Hotels New Zealand (MCK) do not recommend shareholders of MCK to accept the increase of CDL Hotels Holdings New Zealand’s (CDLHH NZ) offer price to NZ$2.80 per ordinary share. “While the independent directors welcome the increase in the offer, we believe it is still too low and…
Read MoreUS shoppers pay for Trump tariffs on Temu, doubling some prices
Published Mon, Apr 28, 2025 · 04:12 PM [BEIJING] Discount Chinese retail app Temu appears to be passing on nearly all of US President Donald Trump’s new import taxes to US consumers, more than doubling the cost of some products in a move that may add to concern about the inflationary impact of tariffs. Previously…
Read MoreHwa Hong, Wing Tai, Teo family consortium launches bid to take Amara private at S$0.895 a share
[SINGAPORE] Amara on Monday (Apr 28) received a voluntary conditional general offer at S$0.895 per share from a consortium led by property company Hwa Hong, which was formerly listed on the Singapore Exchange. The offer is final and represents a premium of 27 per cent over Amara’s share price of S$0.705 on Apr 23, before…
Read MoreSingapore election 2025: Losing three, four ministers would weaken both the government and Singapore, says PM Wong at the Fullerton rally
[SINGAPORE] Losing three or four ministers would weaken both the government and the country, at an already challenging time, said Prime Minister Lawrence Wong on Monday (Apr 28). A vote for the opposition is not a “free vote for more alternative voices”, but a vote to weaken the People’s Action Party (PAP) team, he said…
Read MoreAirbus to take over Spirit asset as part of Boeing reintegration
[LONDON] Airbus reached a final agreement to take over some assets and sites from Spirit AeroSystems Holdings, clearing the way for the struggling US aerospace supplier to be acquired by its former parent Boeing. The European planemaker will take over a facility in Kinston, North Carolina, for fuselage sections of the Airbus A350 model, as…
Read MoreIf OCBC wants to keep Chulia Street properties, it should partner a property group to redevelop them
IN this column on Mar 31, I advocated that OCBC should sell its Chulia and Church Street properties so that the assets can be redeveloped to create a new prime office project in the heart of the Central Business District. Divesting these buildings will also help create shareholder value. My suggestion that OCBC should consider…
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