Posts by Stephanie Irvin
DBS, OCBC, UOB, Maybank syndicating Singapore’s biggest loan of S$12 billion for Marina Bay Sands
The 7-year facility, which will be syndicated to other financiers, will refinance an existing S$4b borrowing MARINA Bay Sands is seeking a loan of around S$12 billion, in what would be the largest financing from Singapore, as the company looks to fund the planned expansion of its casino resort in the city state. DBS Group…
Read MoreKeppel to take over legacy rigs; plans to establish offshore infrastructure private fund
KEPPEL will take over 13 legacy rigs held by Rigco following a selective capital reduction exercise to be completed by the latter. Keppel currently holds a 10 per cent equity stake in Rigco, S$139 million in perpetual securities and about S$4.3 billion in vendor notes issued by Rigco. The exercise will cancel all of…
Read MoreFinancing the next lap of growth
THE ringing of the opening bell at a securities exchange celebrates the successful listing of a company and marks the transformation of an enterprise from private to public. Going public is a motivation for many entrepreneurial companies to fund innovation, growth, acquisitions and internationalisation. For family businesses, it offers them an avenue to raise external…
Read MoreThe digital key to success
ANTHONY Chow’s entrepreneurial journey began with a simple yet frustrating challenge: Simplifying the logistics of managing physical key handovers for Airbnb rentals. Recognising the opportunity to streamline this process, Chow co-founded igloocompany, aiming to create a “world without keys”. From these beginnings, igloo has rapidly evolved, offering smart locks and comprehensive digital access solutions for…
Read MoreResorts World Sentosa’s casino licence renewed for shorter 2-year term due to ‘unsatisfactory tourism performance’
THE authorities have renewed the casino licence of Resorts World Sentosa (RWS), an integrated resort operated by Genting Singapore, for another two years, beginning Feb 6 next year. In a bourse filing on Monday (Nov 18), the casino operator said that the renewal was granted after RWS was deemed to be suitable to manage and…
Read MoreUS: Wall Street opens subdued with Nvidia earnings, Fed policy in focus
WALL Street’s main indexes opened little changed on Monday (Nov 18), as investors looked ahead to crucial corporate results, especially from AI-chip leader Nvidia, following Wall Street’s slump the previous week. The Dow Jones Industrial Average fell 13.1 points, or 0.03 per cent, at the open to 43,431.89. The S&P 500 rose 3.6 points,…
Read MoreNovo Nordisk launches obesity drug Wegovy in China
The price for a month’s supply of the starter dose of Wegovy will be 1,400 yuan Novo Nordisk said on Monday (Nov 18) it has launched its popular obesity drug Wegovy in China, the world’s second-largest pharmaceuticals market. A spokesperson for the Danish drugmaker confirmed the news to Reuters after it was first reported by…
Read MoreUS dollar rises against yen on BOJ caution; euro sell-off pauses
THE US dollar climbed against the yen on Monday (Nov 18) after Japan’s top central banker flagged further monetary policy tightening ahead but left open the question of timing, while the euro steadied after falling to a one-year low late last week. Bank of Japan governor Kazuo Ueda reiterated that interest rates would continue to…
Read MoreTrump team is seeking to ease US rules for self-driving cars
MEMBERS of President-elect Donald Trump’s transition team have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities, according to people familiar with the matter. If new rules enable cars without human controls, it will directly benefit Elon Musk, the Tesla chief executive officer and Trump…
Read MoreStarHub, M1 may be posturing for subscribers ahead of potential merger by June 2025
Analysts note that recent moves by the telcos could help to move negotiations forward, grow subscriber base TELCOS StarHub and M1 may be posturing for more subscribers ahead of StarHub’s long-rumoured acquisition of the latter. In a Nov 13 Macquarie report, analyst Foo Zhiwei noted that StarHub has deferred the payment for its 700-megahertz (MHz)…
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