Posts by Stephanie Irvin
Cordlife ID Teo Tong Kooi steps down; new ID appointed
CORDLIFE Group’s independent director Dr Teo Tong Kooi stepped down from his role at the embattled cord-blood bank on Wednesday (Feb 19). He relinquished the role to “focus on other commitments”, the company said. Dr Teo, 68, was appointed an independent director on May 14, 2024. The company also announced that it had appointed Yuen…
Read MoreSingapore shares end Wednesday higher on UOB earnings, Budget news; STI up 0.2%
The bank’s Q4 profit of of S$1.52 billion beat analysts’ consensus forecast S$1.48 billion SINGAPORE stocks closed higher on Wednesday (Feb 19), as investors digested company earnings reports and the country’s Budget 2025 announcements. The Straits Times Index (STI) rose 8.48 points or 0.2 per cent to 3,934.04, below the record 3,943.23 that the index…
Read MoreUnited Hampshire US Reit declares 4.2% lower H2 DPU of US$0.0205
UNITED Hampshire US Real Estate Investment Trust’s (Reit) distribution per unit (DPU) for the half year ended Dec 31, 2024, fell to US$0.0205, down 4.2 per cent from US$0.0214 over the same period a year earlier. Revenue rose 0.4 per cent to US$36.4 million for the half-year, from US$36.2 million in the year-ago period. This…
Read MoreSingapore’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…
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