Posts by Stephanie Irvin
HPL H2 profit nosedives 94.4% to S$32.1 million; S$0.04 per share final dividend proposed
HOTEL Properties Limited (HPL), the real estate player owned by tycoon Ong Beng Seng, posted net profit of S$32.1 million for the second half ended Dec 31, plunging from S$578.2 million in the prior corresponding period Its earnings per share stood at S$0.0547, down from S$1.1024 in H2 FY2023. Its half-year revenue climbed 7 per…
Read MoreHPL swings into the black with S$32.1 million H2 net profit, reversing H1 loss
HOTEL Properties Limited (HPL), the real estate player owned by tycoon Ong Beng Seng, posted net profit of S$32.1 million for the second half ended Dec 31, plunging from S$578.2 million in the prior corresponding period This reversed the hotel operator’s net loss of S$4.9 million recorded for its first half ended Jun 30, 2024,…
Read MoreFirst Resources H2 profit climbs 91.9% to US$141.8 million
FIRST Resources on Friday (Feb 28) reported a 91.9 per cent surge in net profit to US$141.8 million for the second half ended Dec 31, from US$73.9 million in the previous corresponding period. This came as profit from operations rose 90.3 per cent to US$193.5 million from US$101.7 million, on the back of “record production…
Read MoreOlam H2 profit falls 83.4% to S$38.4 million, pares proposed dividend to S$0.03 per share
AGRIBUSINESS giant Olam Group on Friday (Feb 28) reported a net profit of S$38.4 million for the second half ended Dec 31, down 83.4 per cent from S$230.8 million in the previous corresponding period. This translated to earnings per share of S$0.0058 for the half-year period, down from S$0.0567 the previous year. The group noted…
Read MoreOil climbs more than 2% after Trump cancels Chevron’s Venezuela licence
OIL prices rose more than 2 per cent on Thursday (Feb 27) as supply concerns resurfaced after US President Donald Trump revoked a licence granted to US oil major Chevron to operate in Venezuela. Investors were still keeping an eye on signs of a potential peace deal in Ukraine, which could result in higher Russian…
Read MoreUS: Stocks fall as Nvidia results hit AI shares
WALL Street stocks tumbled on Thursday (Feb 27), extending a rough period as disappointment with Nvidia earnings and fresh tariff rhetoric from Donald Trump pressured the market. While Nvidia reported impressive profits, shares finished down 8.5 per cent, with investors seemingly wanting more from the artificial intelligence company. “Investors have gotten used to having Nvidia…
Read MoreWho is Catherine Wu, the woman said to have a ‘long relationship’ with Kwek Leng Beng?
CDL group chief executive Sherman Kwek says the “primary reason” for the ongoing dispute at the property behemoth relates to “a very serious issue of corporate governance” involving Dr Wu CITY Developments Ltd (CDL) group chief executive Sherman Kwek highlighted a Dr Catherine Wu on Thursday (Feb 27) in his latest response in the “attempted…
Read MoreTencent releases new AI model, says replies faster than DeepSeek-R1
CHINESE tech giant Tencent on Thursday (Feb 27) released a new AI model that it says can answer queries faster than global hit DeepSeek’s R1, in the latest sign the startup’s domestic and overseas success is putting pressure on its larger competitors in China. The Hunyuan Turbo S is able to reply to queries within…
Read MoreSingapore stocks gain ground; STI rises 0.3% despite Yangzijiang Shipbuilding dive
The three local banks show mixed performance, with DBS declining while OCBC and UOB advance SINGAPORE shares climbed on Thursday (Feb 27) as investors took stock of company earnings. The benchmark Straits Times Index rose 0.3 per cent or 13.14 points to 3,921.19. Across the broader market, losers beat gainers 289 to 269, after 1.9…
Read MoreGuocoLand inks MOU to jointly develop UEM Sunrise’s land bank in Iskandar Puteri
GUOCOLAND will partner Malaysia’s UEM Sunrise to develop selected freehold land parcels in Iskandar Puteri, within the Johor-Singapore Special Economic Zone (JS-SEZ). This is under a memorandum of understanding (MOU) signed by the two property developers on Thursday (Feb 27), marking the first JS-SEZ MOU between Singaporean and Malaysian private-sector companies. The aim of the…
Read More