Posts by Stephanie Irvin
Apple makes US$100 million investment proposal for new plant in Indonesia
TECH giant Apple has made a US$100 million investment proposal to Indonesia to build a plant to manufacture accessories and components, the industry ministry said on Wednesday (Nov 20). The proposal comes after Indonesia banned sales of Apple’s iPhone 16 over the firm’s failure to meet local rules on components. Indonesia requires certain smartphones sold…
Read MoreHot stock: Keppel DC Reit up 4.6% as investors weigh S$1.4 billion data centre deal, equity fundraising
It remains the top-traded counter in terms of value by mid-day trading break on Wednesday UNITS of Keppel DC Real Estate Investment Trust (Reit) extended their early-trade rally, adding S$0.10 or 4.6 per cent to S$2.29 by the midday trading break on Wednesday (Nov 20). Keppel DC Reit remained the top-traded counter in terms of…
Read MoreCLI to acquire initial 40% interest in SC Capital Partners for S$280 million
CAPITALAND Investment (CLI) has agreed to buy an initial 40 per cent stake in Singapore-headquartered real estate investment manager, SC Capital Partners, for S$280 million. The deal is slated to close in the first quarter of 2025. This is expected to increase CLI’s funds under management (FUM) by S$11 billion to a combined FUM of…
Read MoreTrafigura paid bribes via ‘Mr Non-Compliant’: Swiss prosecutors
TRAFIGURA was accused by Swiss prosecutors of channeling bribes to an Angolan official through a network of former employees, including one nicknamed “Mr. Non-Compliant” by the company’s late founder. The trading house heads to court on Dec 2 facing charges that its former parent company Trafigura Beheer BV failed to prevent unlawful payments over the 2009…
Read MoreGoogle’s Anthropic AI deal cleared by UK antitrust agency
GOOGLE’S partnership with AI firm Anthropic has avoided further scrutiny after the UK antitrust watchdog concluded it doesn’t qualify for a full blown investigation under merger rules. Google has not gained “material influence” over Anthropic as a result of the deal, the Competition and Markets Authority (CMA) said on Tuesday (Nov 19). The agency…
Read MoreWalmart raises annual forecasts, betting on strong holiday shopping
WALMART on Tuesday (Nov 19) raised its annual sales and profit forecast for the third consecutive time, with people buying more groceries and merchandise online and at its stores, a sign that it may be gaining market share ahead of the holiday season. Shares of Walmart, which are up nearly 60 per cent this year,…
Read MoreSeven & i founding family aims to raise 8 trillion yen for buyout this year: NHK
THE founding Ito family behind Japanese retailer Seven & i aims to raise more than 8 trillion yen (S$70 billion) to take it private by the end of this financial year, Japanese public broadcaster NHK reported on Tuesday (Nov 19). The family has established a special purpose company that is in talks with Japan’s three…
Read MoreUS$34 billion asset manager plans to hire in Singapore for climate finance
Mirova currently has 13 employees in Singapore, mostly focused on investment and research Mirova, which manages assets worth about US$34 billion, plans to expand in Asia to tap the region’s growing pool of energy transition-related investments. The Paris-based unit of Natixis Investment Managers is considering making hires in Singapore for its blended finance, green bonds…
Read MoreWeWork gives up two Singapore prime locations in sign of co-working woes
WEWORK is giving up space in two prime locations in Singapore, underscoring the company’s challenges in one of its most promising markets. One co-working space spanning the 17th to 20th floors at Manulife Tower along Singapore’s 8 Cross Street has ended operations. Another three-floor space in an office building at 83 Clemenceau Avenue on the…
Read MoreKeppel DC Reit unveils S$1-billion unit placement, preferential offer to fund purchase of data centres
THE manager of Keppel DC Reit plans to launch an equity funding exercise to raise gross proceeds of about S$1 billion, it announced on Tuesday (Nov 19). This comprises a private placement to raise around S$600 million in gross proceeds, and a non-renounceable preferential offering to raise gross proceeds of about S$300 million. It will…
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