Posts by Stephanie Irvin
Tencent 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 MoreMercedes 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…
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