Posts by Stephanie Irvin
HSBC managers are competing to keep their jobs in CEO’s revamp
HSBC Holdings has asked hundreds of managers to reapply for jobs in the firm’s newly formed corporate and institutional banking division as chief executive officer Georges Elhedery continues his hunt for ways to make the bank run more efficiently. Interviews are already underway, according to people familiar with the matter, essentially pitting senior staff who…
Read MoreFrasers Property, Sekisui team up to redevelop Robertson Walk assets into 348 luxury homes for sale
FRASERS Property’s serviced residence Fraser Place Robertson Walk and its adjoining commercial area, Robertson Walk, will be redeveloped into a mixed-use project with 348 residential units. On Monday (Nov 18), Frasers Property said it formed a 51:49 joint venture with Japanese developer Sekisui House for the redevelopment that is slated to launch in 2025 and…
Read MoreStocks to watch: SIA, ST Engineering, Frasers Property, Keppel Infrastructure Trust, Dyna-Mac
THE following companies saw new developments that may affect trading of their securities on Monday (Nov 18):
Read MoreST Engineering Q3 revenue up 14% at S$2.8 billion; interim dividend at S$0.04 per share
ST Engineering’s revenue for the third quarter ended September rose 14 per cent to S$2.8 billion, from S$2.4 billion in the previous corresponding period. The technology and engineering group also proposed a third-quarter interim dividend of S$0.04 per share, unchanged from the previous year. For the nine months ended September, ST Engineering’s revenue amounted to…
Read MoreAttika Group eyes expansion into Malaysia, manufacturing sector after IPO
Offering proceeds to be used towards expanding into new markets, capacity building, enhancing technology adoption and diversifying into new sectors SHARES of Singapore Exchange (SGX) newcomer Attika Group have been on a tear since its initial public offering (IPO). For its listing on the Catalist board, the company issued 21 million placement shares at S$0.22…
Read MoreData centre Reits could head for IPO on SGX as conditions turn favourable
Rising enthusiasm for AI, availability of cheaper financing due to lower interest rates among reasons cited by analysts THE data centre race is heating up, driven by rising interest in artificial intelligence (AI). And Singapore’s equity market could be a beneficiary, as operators look to the city-state as an enticing potential location to securitise their…
Read MoreSouring S&P 500 profit outlook a bad sign for stock market rally
Wall Street analysts are quickly scaling back their forecasts for Corporate America’s earnings growth over the next year, which could pump the brakes on the blistering stock market rally before long. A key indicator known as earnings-revision momentum – a gauge of upward-to-downward changes to expected per-share earnings over the next 12 months for the…
Read MoreJack Ma-backed Ant Group’s profit up 193% in post-crackdown recovery
ANT Group’s profit nearly grew 193 per cent in the June quarter, reversing a year-long decline as the fintech company regained its footing from a government crackdown. Hangzhou-based Ant contributed nearly 2.48 billion yuan (S$460 million) of profit to Alibaba Group Holding. Based on Alibaba’s one-third stake in Ant, that translates to an estimated 7.5…
Read MoreKKR raises offer for Fuji Soft to 1 yen above Bain’s rival bid
KKR & Co raised its offer price for Fuji Soft above a rival bid by Bain Capital, winning the backing of the Japanese software developer’s board. The private equity firm will pay 9,451 yen (S$81.49) for each Fuji Soft share, an increase from the 8,800 yen it originally offered and one yen more than Bain’s…
Read MoreCEO of state carrier Garuda Indonesia says he has been dismissed
THE chief executive officer of state carrier Garuda Indonesia said on Friday (Nov 15) he had been dismissed after shareholders came to a decision that he would be replaced. CEO Irfan Setiaputra told Reuters in a text message that the decision was taken during a meeting of shareholders on Friday. The airline had yet to…
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