Posts by Stephanie Irvin
Mercedes set to cut jobs in China as local competition heats up
MERCEDES-BENZ Group and its subsidiaries are planning to cut up to 15 per cent of the automaker’s workforce in China, mainly within its financing and sales units, as the German manufacturer faces intensifying competition in the world’s largest car market, according to two sources familiar with the matter. Mercedes-Benz Automobile Finance and Beijing Mercedes-Benz Sales…
Read MoreKwek Leng Beng-Sherman tussle at CDL can destroy value
Share price is deeply undervalued, could father-son tussle lead to restructuring or a merger? Investors buy into listed groups where families hold major stakes and are active in management, partly because they see families with skin in the game taking the long-term view in growing the business. However, families can be prone to conflict among…
Read MoreHeavy selling wipes nearly a billion dollars off Yangzijiang Shipbuilding’s value as its shares plummet 9%
Shares of Yangzijiang Shipbuilding dropped as much as 16 per cent on Thursday (Feb 27), a day after it posted earnings and in a week when the US proposed to slap fees on Chinese-built vessels entering US ports. Just past 10 am, the shares of the Singapore-listed maritime vessel maker plummeted to roughly S$2.28. Heavy…
Read MoreGoldman Sachs adds Waldron to board, lining up potential CEO succession
GOLDMAN Sachs added its president and chief operating officer John Waldron to its board of directors a month after he was given a retention bonus, cementing his position as a potential successor to CEO David Solomon. Waldron, 55, joins Solomon, 63, as the second member of the management committee to have a seat on the board.…
Read MoreNissan CEO Uchida’s future in focus as sources say management shake-up due soon
JAPAN’S Nissan will unveil a shake-up in its top ranks next month, three people familiar with the matter said on Thursday (Feb 27), adding that embattled CEO Makoto Uchida is currently expected to hang on to his job. Reeling in the wake of failed talks to combine with Honda, Japan’s third-largest automaker is set to…
Read MoreSeven & i says founding family unable to secure funding for US$58 billion buyout
JAPAN’S Seven & I Holdings said on Thursday the retailer’s founding Ito family could not secure the financing required for a US$58 billion management buyout, and it would consider a rival offer from Canada’s Alimentation Couche-Tard. “There is no actionable proposal from Mr. Junro Ito and Ito-Kogyo for 7&i to consider at this time,” the…
Read MoreStocks to watch: ST Engineering, CLI, Yangzijiang Shipbuilding, Sembcorp, Golden-Agri
THE following companies saw new developments that may affect trading of their securities on Friday (Feb 27). ST Engineering: The defence and engineering group on Thursday reported a net profit of S$365.7 million for the second half ended Dec 31, up 19.6 per cent from S$305.9 million in the previous corresponding period. Revenue rose 9.9…
Read MoreSembcorp doubles dividend on higher earnings, shuffles business leadership
It proposes final dividend of S$0.17 per share, compared with S$0.08 in the previous period SEMBCORP Industries on Thursday (Feb 27) reported a 14 per cent rise in total net profit to S$471 million for the second half ended Dec 31, 2024, from S$412 million in the year-ago period. This accounts for exceptional items including…
Read MoreCapitaLand Investment back in the black with S$148 million H2 profit; proposes special dividend-in-specie of CICT units
REAL estate group CapitaLand Investment (CLI) swung to a net profit of S$148 million for its second half ended December, from a net loss of S$170 million in the previous corresponding period. This translates to an earnings per share (EPS) of S$0.03, compared with a loss per share of S$0.033 in H2 of financial year…
Read MoreCapitaLand Investment back in the black with S$148 million H2 profit; proposes special distribution of CICT units
THE board of real estate group CapitaLand Investment (CLI) proposed on Thursday (Feb 27) to distribute a core dividend of S$0.12 per share, as well as a special dividend-in-specie of 0.031 CapitaLand Integrated Commercial Trust (CICT) unit per share – valued at S$0.06 apiece. This brings the total dividend for financial year 2024 to about…
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