Posts by Stephanie Irvin
Genting Bhd, Genting Malaysia take big tumble after news of CEO change; Genting Singapore edges marginally lower
GENTING Bhd and Genting Malaysia shares plunged shortly after the market opened on Friday (Feb 28), after news broke on Thursday that Lim Kok Thay will step down as chief executive of Malaysia’s Genting after nearly two decades at the helm. Both entities also reported a net loss in their latest earnings announced on the…
Read MoreIHH Healthcare ‘On Track’ For Double-Digit ROE
INTEGRATED healthcare operator IHH Healthcare is “on track for double-digit return on equity (ROE)” in the coming years, said its management on Friday (Feb 28). While the group did not give a concrete timeline for achieving this goal, it has “set itself up for going towards double-digit ROE in 2025 as well”, said group chief…
Read MoreJD.com’s food delivery foray unnerves investors as shares lag
INVESTORS in shares of JD.com face a gut check in next week’s earnings report from the online retailer as it girds for battle in the food-delivery space currently dominated by Meituan. JD.com officially launched its JD Takeaway platform earlier this month, while a number of its Chinese tech peers were garnering attention with artificial intelligence…
Read MoreHPL 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…
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