Posts by Stephanie Irvin
Indonesian fund, Mitsui vie for US$300 million stake in toll operator RKE: sources
INDONESIA’S sovereign wealth fund, Indonesia Investment Authority (INA), and Japan’s Mitsui are among prospective buyers of CVC Capital Partners’ 25 per cent stake in Indonesian toll road operator RKE International, valued at up to US$300 million, two sources with knowledge of the matter said. CVC, a Luxembourg-based investment firm, initiated the sale process for its…
Read MoreDutch lender ING looking for acquisitions to grow in Germany, Italy and Spain, says CEO
DUTCH lender ING Group is looking for opportunities to buy rival banks in major European countries to boost its size, its chief executive said, potentially joining a wave of takeovers sweeping the region’s financial sector. The remarks from the head of one of Europe’s biggest banks are a clear signal that it is open to…
Read MoreNXP gives disappointing sales forecast as chip slump persists
NXP and its peers have been struggling with a stubborn glut of chips that help power electric cars and manufacturing operations NXP Semiconductors give a disappointing forecast for first-quarter revenue, signalling that sluggish demand for industrial and automotive chips is lingering. Revenue will decline about 10 per cent to US$2.83 billion in the period, the…
Read MoreKeppel Pacific Oak US Reit posts 8.8% fall in distributable income to US$23.8 million for H2
This brings its income available for distribution for the full-year down 8.8% to US$47.6 million from US$52.2 million THE manager of Keppel Pacific Oak US Reit (Kore) on Tuesday (Feb 4) posted an 8.8 per cent fall in distributable income to US$23.8 million for H2 ended Dec 31, from US$26.1 million in the previous corresponding…
Read MoreJapan’s biggest lender MUFG posts 32% jump in Q3 profit
Japan’s largest lender Mitsubishi UFJ Financial Group on Tuesday (Feb 4) reported a 32 per cent increase in quarterly net profit. Profit in the October-December period came in at 490.74 billion yen (S$4.29 billion) versus 370.64 billion yen a year earlier, according to Reuters’ calculations based on nine-month cumulative figures disclosed in a filing. MUFG…
Read MoreWill Power: Why Your Family Needs More Than Just a Basic Will
Thinking a basic will covers all your family needs? Think again. A simple will might not be enough to protect your loved ones and your assets. Estate planning is more than just jotting down who gets what. It’s about safeguarding your family’s future, minimizing taxes, and avoiding legal headaches. Let’s dive into why you need…
Read MoreCathay Cineplex receives letters of demand for about S$2.7 million in rent and other costs owed
MM2 Asia, which runs the cinema chain, is trying to resolve the matter while prioritising minimal disruption to business operations CATHAY Cineplex, operated by mainboard-listed media company mm2 Asia, has received letters of demand from the landlords of two of its cinemas for about S$2.7 million in alleged rent, legal costs and other monies owed.…
Read MoreLendlease Global Commercial Reit reports 14.3% lower H1 DPU of S$0.018
LENDLEASE Global Commercial Real Estate Investment Trust’s (Lendlease Reit) distribution per unit (DPU) fell 14.3 per cent to S$0.018 for its first half ended Dec 31, 2024, from S$0.021 in the corresponding period in the year before. The lower DPU was driven by higher finance costs, lower net property income (NPI), as well as an…
Read MoreJulius Baer announces 400 job cuts, executive board revamp
JULIUS Baer Group’s new chief executive officer Stefan Bollinger announced a radical revamp of the bank’s leadership and a cost-cutting drive that will claim hundreds of jobs at the Swiss wealth manager. The executive board is being cut to five members from 15, and the bank will seek an additional 110 million Swiss francs (S$164…
Read MorePrivate healthcare players upbeat as China hospitals ease rules on foreign ownership
Significant investments are needed for these hospitals to make returns, observers say THE Chinese government’s recent move to allow foreign healthcare players to wholly own hospitals in certain regions will offer flexibility and more avenues to players hoping to harness growth in China. However, significant investment in areas such as funding and talent will be…
Read More