Posts by Stephanie Irvin
Yoma’s H1 net loss deepens to US$11 million on forex headwinds
YOMA Strategic posted a net loss of US$11 million for the first half ended September 2024, widening from its US$2.5 million loss in the previous corresponding period due to revenue declines as well as higher finance costs. This translated to a loss per share (LPS) of US$0.0061 versus the prior year’s H1 LPS of US$0.0012.…
Read MoreFrasers Property reverses losses with H2 net profit of S$148.9 million
FRASERS Property posted a net profit of S$148.9 million for the second half of its financial year ended Sep 30, reversing losses of S$52.6 million in the same period the prior year. This came as revenue for H2 FY2024 stood at S$2.7 billion, up 33.2 per cent from S$2 billion the previous year, it said…
Read MoreSingapore shares retreat at Wednesday’s open; STI down 0.7%
SINGAPORE shares began trading lower on Wednesday (Nov 13), extending global equity market declines overnight. As at 9.02 am, the Straits Times Index (STI) fell 0.7 per cent or 24.31 points to 3,687.17. Across the broader market, losers outnumbered gainers 78 to 43 after 47.8 million securities worth S$89.5 million changed hands. Genting Singapore was…
Read MoreStocks to watch: Singtel, Bumitama Agri, The Hour Glass
THE following companies saw new developments that may affect trading of their securities on Wednesday (Nov 13): Singtel: The telecommunications operator’s net profit for the first half ended September fell 42.4 per cent year on year to S$1.23 billion from S$2.14 billion, in the absence of a S$1.2 billion exceptional gain booked in the same…
Read MoreVolkswagen boosts bet on Rivian’s EV technology by US$800 Million
VOLKSWAGEN (VW) and Rivian Automotive named leaders for their multi-billion US dollar joint venture (JV) and showcased a prototype electric vehicle (EV), signalling their commitment even as global EV demand softens and the incoming Trump administration threatens to curtail supportive policies. The two companies agreed in June to develop battery-powered vehicles together, with VW expected…
Read MoreCrypto legislation likely coming under Trump, ex-SEC chief says
CONGRESS is likely to adopt legislation governing cryptocurrencies during President-elect Donald Trump’s administration, Jay Clayton, a former top Wall Street regulator and potential political appointee, said on Wednesday (Nov 13). Clayton also said he favoured easing regulatory burdens to encourage companies to go public, remarks foreshadowing broad-based changes in public policy now anticipated by industry,…
Read MoreUS: Wall Street opens little changed as focus moves to economic data
WALL Street was steady at the open on Tuesday (Nov 12) as focus shifted from the US election to key inflation data later in the week for more signals on the country’s economic and monetary policy outlook. The Dow Jones Industrial Average rose 66.1 points, or 0.15 per cent, at the open to 44,359.21. …
Read MoreNetflix’s ad-supported tier hits 70 million users
Netflix said on Tuesday (Nov 12) that its ad-supported tier now has 70 million monthly active users globally, nearly doubling the number reported earlier this year. The streaming giant is experiencing a faster rate of adoption for its ad-based plan, priced at US$6.99 per month in the US, as customers seek more affordable options. Netflix…
Read MoreShopify delivers upbeat holiday forecast as AI draws customers, shares surge
SHOPIFY forecast fourth-quarter revenue growth above estimates on Tuesday (Nov 12), as the Canadian company’s focus on employing AI-powered tools attract more merchants to its e-commerce services ahead of the all-important holiday season. Its US-listed shares jumped nearly 17 per cent in premarket trading after the company also topped analysts’ expectations for third-quarter revenue. Shopify,…
Read MoreCortina’s H1 net profit falls 10% to S$27.8 million as operating expenses outpace revenue growth
Competitor and luxury watch retailer The Hour Glass also reports a 20% decrease in earnings LUXURY watch retailer Cortina posted a 10 per cent drop in net profit to S$27.8 million for the first half of its 2025 fiscal year, down from S$30.9 million in H1 FY2024. The decrease in net profit was due to…
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