Posts by Stephanie Irvin
HSBC names Asia country, banking heads in CEO’s major revamp
HSBC Holdings gave country heads in some smaller Asian markets additional responsibilities as the lender streamlines and removes management layers. Peter Kim was appointed head of banking on top of his chief executive officer role in Korea, effective Mar 1, while Tim Evans will fill the same double role in Vietnam, according to an internal…
Read MoreEY Australia to consider ‘targeted restructuring’ as difficult operating conditions persist
EY AUSTRALIA is considering cutting jobs as part of “workforce adjustments” to reflect challenging market conditions, with some targeted restructuring possible for “particular circumstances” in the near term, the accounting major said on Wednesday. In an emailed response to Reuters, a spokesperson for EY Australia said the firm “started this year expecting a market rebound…
Read MoreThe unravelling of Hour Glass co-founder Jannie Chan’s fortunes
FETED at high-society events and billed as a poster girl for female entrepreneurship, Jannie Chan – erstwhile known as Jannie Tay – once graced pages of Tatler and The Peak. But these days, the cofounder of The Hour Glass is making headlines for other reasons. After numerous court appearances over personal and business matters, Chan…
Read MoreCDL calls for trading halt as it cancels results briefing
City Developments announced on Wednesday (Feb 26) morning that it is canceling its results briefing that was scheduled to be held on the same day, pending announcements. That was to be at 10 am on Wednesday for both the media, as well as analysts. The company also issued a bourse filing shortly after it posted…
Read MoreCDL H2 net profit drops 54.7% to S$113.5 million
PROPERTY player City Developments Limited (CDL) posted a profit of S$113.5 million for its second half ended Dec 31, down 54.7 per cent from S$250.8 million in the previous corresponding period. This translates to a basic earnings per share (EPS) of S$0.121 against an EPS of S$0.27 in the year-ago period. H2 revenue fell 23.6…
Read MoreChina’s premier calls on big three telcom firms to step up R&D
A tariff war with the US is adding fresh urgency to finding new growth drivers, with Trump already imposing a 10 per cent levy on China CHINESE Premier Li Qiang called on the country’s top three telecom companies to step up research and development (R&D) in the aid of broader innovation and economic growth –…
Read MoreTrump to probe copper tariffs, opening door to new levy on metal
PRESIDENT Donald Trump signed an executive action directing the Commerce Department to examine possible copper tariffs, the latest in a string of measures aimed at imposing sector-specific levies that offer to reshape global supply chains. Trump said the order would have a “big impact” as he signed it on Tuesday (Feb 25) in the Oval…
Read MoreOCBC misses estimates with Q4 earnings of S$1.69 billion; unveils S$2.5 billion capital return plan
OCBC on Wednesday (Feb 26) posted a net profit of S$1.69 billion for the fourth quarter ended December, up 4 per cent from S$1.62 billion in the previous corresponding period. The earnings fell short of the S$1.78 billion consensus forecast in a Bloomberg survey of five analysts. OCBC on Wednesday announced plans to return S$2.5…
Read MoreMAS review group initiatives to benefit banks, Reits in near term
DIVIDEND-PAYING players such as banks and real estate investment trusts (Reits) may gain in the near term from the first set of measures by the Monetary Authority of Singapore (MAS) to revitalise the local stock market, analysts said. DBS, UOB and OCBC, which pay strong dividends, may see more allocations from new applicants to Singapore’s…
Read MoreNanofilm H2 profit rises 6.5% to S$11.5 million
NANOFILM Technologies reported a 6.5 per cent increase in net profit in the second half ended Dec 31, 2024, to S$11.5 million, from S$10.8 million, the nanotechnology solutions provider said in a bourse filing on Tuesday (Feb 25). Revenue in the second half rose 17.1 per cent to S$121.6 million, from S$103.9 million in the…
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