Posts by Stephanie Irvin
Singapore’s Foundation Healthcare eyes over US$100 million fundraising: sources
SINGAPORE’S Foundation Healthcare Holdings is looking to conduct a funding round that could raise more than US$100 million and value the private healthcare group at more than S$1 billion, said two sources with knowledge of the matter. Foundation Healthcare is in talks with at least one adviser about the funding round after receiving interests from…
Read MoreHP to acquire parts of Humane, Ai Pin startup from ex-Apple managers, for US$116 million
HP WILL acquire assets from Humane, the maker of a wearable Ai Pin introduced in late 2023, for US$116 million. The deal will include the majority of Humane’s employees in addition to its software platform and intellectual property, the company said on Tuesday (Feb 18). It will not include Humane’s Ai Pin device business, which…
Read MoreBudget 2025: Income tax concessions, GST remission for S-Reits extended for 5 years
INCOME tax concessions as well as goods and services tax (GST) remission for Singapore-listed real estate investment trusts (S-Reits) will be extended for five more years, as part of tax changes announced in Budget 2025 on Tuesday (Feb 18). The enhancement and extension of income tax concessions for S-Reits till Dec 31, 2030, will “continue…
Read MoreFTX estate begins to repay bankrupt exchange creditors in cash
The initial distributions are being made through crypto companies BitGo and Kraken THE estate of bankrupt crypto exchange FTX has begun distributing cash to creditors more than two years after Sam Bankman-Fried’s trading platform imploded. Customers should start to see the funds within one to three business days, the estate said on Tuesday (Feb 18).…
Read MoreFTX refunds: Temasek, BlackRock, SoftBank, Sequoia, Tom Brady, Shaquille O’Neal likely beneficiaries
AFTER more than two years of hand-wringing, creditors of bankrupt crypto exchange FTX are heaving a sigh of relief as the trading platform’s estate starts paying cash back to creditors this week. FTX reportedly owed creditors about US$11.2 billion (S$15 billion) but has between US$14.5 billion and US$16.3 billion to distribute to customers and non-governmental…
Read MoreiPhone parts maker Murata eyes supply chain shifts towards India
APPLE iPhone components maker Murata Manufacturing is weighing whether to move some of its production capacity to India, reflecting a global realignment of the supply chain towards the world’s most populous country. The Kyoto-based maker of multilayer ceramic capacitors sees growing demand in India and is running simulations for what it would take to dial…
Read MoreAussie lender NAB’s cash earnings fall on high arrears and costs, shares tank
NATIONAL Australia Bank (NAB), the country’s biggest business lender, said first-quarter profit slipped as competition for customers ate into margins and more borrowers fell behind on repayments, sending its shares tumbling. NAB said its bad exposures ticked up during the quarter as business segment’s lending portfolio deteriorated while late home loan payments rose as Australians…
Read MoreHSBC to sell Bahrain retail banking operations as restructuring progresses
HSBC on Tuesday (Feb 18) agreed to sell its retail banking operations in Bahrain to the Bank of Bahrain and Kuwait (BBK) amid a global restructuring at the bank. The deal will see a transfer of retail loans, deposits and accounts of about 76,000 customers to BBK, which is majority-owned by the governments of both…
Read MoreHSBC to sell Bahrain retail banking operations as restructuring progresses
The deal will see a transfer of retail loans, deposits and accounts of about 76,000 customers to BBK HSBC on Tuesday (Feb 18) agreed to sell its retail banking operations in Bahrain to the Bank of Bahrain and Kuwait (BBK) amid a global restructuring at the bank. The deal will see a transfer of retail…
Read MoreUOB beats expectations with Q4 profit up 8.6% to S$1.52 billion; announces S$3 billion capital distribution package
The lender has proposed a final dividend of S$0.92 per share and special dividend of S$0.50 per ordinary share UOB on Wednesday (Feb 19) posted a net profit of S$1.52 billion for the fourth quarter ended December, up 8.6 per cent from S$1.4 billion in the previous corresponding period. This included S$17 million in one-off…
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