Posts by Stephanie Irvin
Wilmar International to acquire India’s Adani Group’s 31.06% stake in consumer goods joint venture for S$2 billion
WILMAR International announced on Monday (Dec 30) that it will acquire Indian multinational conglomerate Adani Group’s remaining stake in Adani Wilmar, a consumer goods joint venture between both groups, for 123.14 billion rupees (S$2 billion). (*see amendment note) Wilmar’s wholly owned subsidiary Lence has entered into an agreement with Adani Commodities for an option to…
Read MoreSouth Korea orders air safety probe after worst crash in country kills 179
SOUTH Korea’s acting President Choi Sang-mok ordered an emergency safety inspection on Monday (Dec 30) of the country’s entire airline operation system as investigators worked to identify victims and find out what caused the deadliest air disaster in the country. All 175 passengers and four of the six crew were killed when a Jeju Air…
Read MoreAsia: Stocks mostly down after Wall St losses
ASIA stocks mostly fell in thin holiday trade on Monday (Dec 30) after tech losses killed off the traditional year-end lift on Wall Street at the end of last week. The “Santa Claus rally” got off to a good start but US stocks then fell across the board on Friday, with the S&P 500 and…
Read MoreNo internal controls are fully fraud-proof, SingPost tells Sias
SINGAPORE Post (SingPost) said its board’s objective throughout recent investigations into the handling of whistleblowing reports has been to “act in the best interests of the company and its shareholders by upholding a high level of governance”. Responding to queries by the Securities Investors Association of Singapore (Sias) on Sunday (Dec 29), the postal services…
Read MoreOil inches lower in thin trade, investors eye China, US data
OIL prices slipped lower on Monday (Dec 30) in thin holiday trade ahead of the year-end as traders awaited more economic data from China and the US later this week to assess growth in the world’s two largest oil consumers. Brent crude futures fell 6 US cents to US$74.11 a barrel by 0111 GMT while…
Read MoreSingapore shares muted at Monday’s open; STI up 0.03%
SINGAPORE stocks opened flat on Monday (Dec 30) morning with a mixed showing from global markets amid light trading volumes with the New Year holiday approaching. As at 9.03 am, the Straits Times Index (STI) edged up 0.03 per cent or 1.22 points to 3,772.85. Across the broader market, gainers outnumbered losers 56 to 46 after…
Read MoreSembcorp’s Middle East greenfield renewables project to begin commercial operation
SEMBCORP’S first greenfield renewables project in the Middle East will begin commercial operations more than four months ahead of schedule, said the group on Monday (Dec 30). This comes as its wholly owned subsidiary, Sembcorp Utilities, successfully completed the acceptance tests to achieve the commercial operation of the power project in Oman. Manah II Solar…
Read MoreDrama-prone fintechs face mixed regulatory environment in 2025
UPSTART financial firms that provide services such as early paycheck access or buy-now, pay-later plans have attracted rising interest from customers and investors alike. Fintechs raised nearly US$24 billion globally in the first three quarters of 2024, according to data from CB Insights, and represent a growing competitive threat to traditional banks and asset managers.…
Read MoreElite UK Reit expands into the ‘living sector’, but still plays it safe
While the Reit aims to renew most of its UK government leases, it is looking to convert vacant assets into student housing or build-to-rent as an alternative to divesting or re-letting ELITE UK Reit, the only UK-focused real estate investment trust (Reit) listed in Singapore, is now expanding into what it calls “living sector” assets…
Read MoreUS dollar eyes best year in almost a decade
The US dollar is headed for its best year in almost a decade as US economic strength reins in expectations for the Federal Reserve’s rate-cutting cycle and President-elect Donald Trump’s threats of harsh tariffs underpin bullish bets on the currency. The Bloomberg Dollar Spot Index rose more than 7 per cent so far this year,…
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