Posts by Stephanie Irvin
Why Singapore is bringing blockchain into mutual funds
Most people see “blockchain” and “funds” in the same sentence and immediately think of pools of money betting on cryptocurrencies such as Bitcoin and Ether. That isn’t how Singapore sees the utility of distributed ledgers. It has taken a less glamorous view, which may nevertheless be more useful. The Asian financial centre has more than 1,200 asset management companies supervising S$146…
Read MoreOil rises as Russia sanctions bolster crude’s hot start to 2025
Oil settled at a three-month high as the US ratcheted up sanctions against Russia, adding to a run of bullish developments that have propelled crude to a strong start to 2025. Brent futures rose 3.7 per cent to settle above US$79 a barrel while West Texas Intermediate (WTI) closed above US$76. The sweeping sanctions target…
Read MorePower of Attorney Explained: Don’t Sign Away Your Rights Without Reading This
Hey there! So, you’ve probably heard about Power of Attorney (POA) but might not know all the ins and outs. It’s basically a legal document that lets someone else make decisions for you, whether it’s about money, health, or other important stuff. But, like anything that gives someone else control, there are risks involved. You…
Read MoreJapan’s NTT plans US$1 billion data centre Reit listing in Singapore; appoints BofA, UBS
JAPAN’S Nippon Telegraph & Telephone Corp (NTT) has appointed Bank of America and UBS to work on a US$1 billion data centre real estate investment trust listing in Singapore, two sources with knowledge of the matter said. The listing, which sources said was likely to take place in the second half of 2025, could help…
Read MoreProperty a big winner: Potential Malaysia beneficiaries from Johor-Singapore SEZ
While there are probable Singapore winners arising from the Johor-Singapore Special Economic Zone (JS-SEZ), analysts believe that there are even more Malaysian beneficiaries. “Stock beneficiaries are largely on the Malaysia side. Most of the nine zones focus on manufacturing and logistics, with some energy and other service sectors identified,” said Macquarie in a note. The…
Read MoreUltraman toymaker Bloks surges after blockbuster Hong Kong IPO
SHARES of Bloks Group, the popular Chinese maker of Ultraman and Transformers figurines, jumped as much as 82 per cent in their Hong Kong trading debut after the company’s US$215 million initial public offering (IPO) drew overwhelming demand from individual investors. Shanghai-based Bloks opened at HK$109.60 each, compared with its initial share sale price of…
Read MoreUltraman toymaker becomes a billionaire after frenzied Hong Kong IPO
THE frenzy over a toymaker’s Hong Kong initial public offering has created a new billionaire. Zhu Weisong, founder and chairman of Bloks Group, was catapulted into the ultra-rich ranks after the company’s US$215 million debut on Friday (Jan 10) drew overwhelming demand from individual investors. Shares surged 41 per cent to HK$85 on its trading…
Read MoreSuntec Reit unitholders should reject revised S$1.19-a-unit offer: Morningstar
MORNINGSTAR has recommended that unitholders of Suntec Real Estate Investment Trust (Reit) reject the revised S$1.19 apiece cash offer from property tycoon Gordon Tang and his wife Celine. The offer was made through their investment holding company Aelios, which was formed to undertake the offer and acquire the Reit’s units. In a note on Thursday…
Read MoreFu Yu’s largest shareholder requisitions EGM to oust directors amid poor performance
FU YU has received a requisition notice from its largest shareholder Victor Lim to convene an extraordinary general meeting (EGM) to pass five resolutions. Lim, who owns some 29.45 per cent of Fu Yu shares, called for the meeting as he believes a “strategic reset” and reorganisation of the board is needed amid the company’s…
Read MorePBOC halts bond buying to defend yuan as economic gloom worsens
CHINA’S central bank said it will suspend buying government bonds, its latest attempt to temper investor bets on weak economic growth that have undermined the currency and sapped confidence among businesses and consumers. The People’s Bank of China (PBOC) will suspend purchases of sovereign debt this month as the supply of the bonds has fallen…
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