Posts by Stephanie Irvin
Singapore’s STI tumbles 1.7% with bank shares falling
SINGAPORE equities began Friday (Jan 10) in negative territory, with the benchmark index retreating further by the midday break, driven by losses in the banking stocks. As at noon, the Straits Times Index (STI) had fallen 67.3 points or 1.7 per cent to 3,795.3, standing slightly above the day’s low of 3,793.16. Across the broader…
Read MoreBlackRock leaves major climate group amid Wall Street exodus
BLACKROCK is parting ways with one of the world’s biggest climate investor groups after being targeted by Republican politicians for its efforts on global warming. The money manager said on Thursday (Jan 9) in a letter to clients that it decided to leave the Net-Zero Asset Managers initiative. Membership in the group “caused confusion regarding…
Read MoreThe wayang of board evaluations
WELCOME to the new year. As we enter another corporate reporting season, the ritualistic dance of board evaluations takes centre stage. Ideally, board evaluations are meant to assess the effectiveness of a company’s board of directors. The process should involve examining the board’s performance, decision-making and overall contribution to the company’s success – and then…
Read MoreE-commerce in 2025: Sustainable growth and rationality to emerge as key themes
The focus is on unit economics and enhancing the customer experience
Read MoreLG Energy posts unexpected loss as EV demand slows; shares drop
BATTERY maker LG Energy Solution reported an unexpected loss – sending its shares down – as cooling demand for electric cars hurt sales. The South Korean company reported a 225.5 billion won (S$211.7 million) operating loss for the three months ended Dec 31, according to preliminary results released on Thursday (Jan 9). That compared to…
Read MoreDyna-Mac delists from SGX on Jan 9
This comes after it fired its executive chairman and chief executive Lim Ah Cheng following a business review in mid-December OFFSHORE oil-and-gas contractor Dyna-Mac announced that it will delist from the mainboard of the Singapore Exchange (SGX) with effect from 9 am on Thursday (Jan 9) . This follows the close of the voluntary unconditional…
Read MoreBlackRock to cut about 1% of its employees, staff memo says
BLACKROCK told employees it’s cutting roughly 1 per cent of its workforce after it committed more than US$25 billion for acquisitions last year to expand its reach in private-market assets and data. The cuts are part of BlackRock’s efforts to realign its resources with the firm’s strategy, BlackRock president Rob Kapito and chief operating officer…
Read MoreGordon Tang and wife increase cash offer for Suntec Reit to S$1.19 a unit
THE mandatory conditional cash offer made by property tycoon Gordon Tang and his wife Celine to acquire all the units of Suntec Real Estate Investment Trust (Reit) was on Wednesday (Jan 8) raised to S$1.19 per unit, from the earlier S$1.16 per unit announced on Dec 5 last year. The offer was made through their…
Read MoreWorld’s biggest asset manager BlackRock is now Yangzijiang Shipbuilding substantial shareholder
BlackRock, which manages over US$10 trillion in assets, acquires 10.8 million shares of maritime vessel maker to raise its deemed interest to over 5% ASSET manager BlackRock is Yangzijiang Shipbuilding’s latest substantial shareholder, the maritime vessel maker announced in a bourse filing on Tuesday (Jan 7). The filing stated that BlackRock on Jan 3 acquired…
Read MoreWorld’s biggest asset manager BlackRock is now Yangzijiang Shipbuilding substantial shareholder
BlackRock, which manages over US$10 trillion in assets, acquires 10.8 million shares of maritime vessel maker to raise its deemed interest to over 5% ASSET manager BlackRock is Yangzijiang Shipbuilding’s latest substantial shareholder, the maritime vessel maker announced in a bourse filing on Tuesday (Jan 7). The filing stated that BlackRock on Jan 3 acquired…
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