Posts by Stephanie Irvin
Far East Orchard reaps the rewards of its growth strategy
The group’s focus on student housing and hospitality has boosted growth, despite economic uncertainty and volatility SINCE Alan Tang took on the mantle of Far East Orchard’s (FEOR) chief executive officer in 2020, the group has been hard at work in building its lodging platform, honing in on student housing and hospitality to deliver growth…
Read MoreS&P 500 expected to hit new heights
SINCE Oct 17, the S&P 500 has seen a 3 per cent pullback from its swing high level of 5,878, weighed by a concurrent 5 per cent rise in the US 10-year Treasury yield. This was due to resilient economic data, which dampened expectations for interest rate cuts from three to two for the remainder…
Read MoreEdelman Appoints Rakesh Thukral as New Asia Pacific CEO
Edelman has appointed Rakesh Thukral as its new CEO for Asia-Pacific operations, taking over from Warren Fernandez, who is stepping down to pursue a new role in public policy. Fernandez will remain with Edelman through the year to support the transition, with Thukral’s appointment effective immediately. Reflecting on Fernandez’s departure, Ed Williams, President of Edelman…
Read MoreBain nears deal to acquire Blackstone’s Avery Lodge
BAIN Capital is nearing a deal to acquire Blackstone’s Singapore worker dormitory firm Avery Lodge after outbidding other rival private equity firms, according to people familiar with the matter. The US-based investment firms are hammering out the details of a transaction that could be agreed as soon as the coming days, the people said, asking…
Read MoreSingapore’s DBS eyes Malaysian bank stakes in expansion push, sources say
SINGAPORE’S biggest lender DBS is exploring expanding into Malaysia with potential acquisitions of stakes in banks in its Southeast Asian neighbour, including in one of Malaysia’s smallest banks by assets, two sources said. DBS is exploring a purchase of Singapore state investor Temasek’s 29.1 per cent stake in Alliance Bank Malaysia, said the two sources…
Read MoreDBS eyes Malaysian bank stakes in expansion push: sources
SINGAPORE’S biggest lender DBS is exploring expanding into Malaysia with potential acquisitions of stakes in banks in its Southeast Asian neighbour, including in one of Malaysia’s smallest banks by assets, two sources said. DBS is exploring a purchase of Singapore state investor Temasek’s 29.1 per cent stake in Alliance Bank Malaysia, said the two sources…
Read MoreGold logs biggest weekly fall in over five months on dollar strength
GOLD prices dropped on Friday (Nov 9), logging their steepest weekly decline in over five months, pressured by a stronger dollar and as markets absorbed the implications of Donald Trump’s victory and its potential impact on US interest rate expectations. Spot gold fell 0.8 per cent to US$2,684.03 per ounce as of 1.40 pm ET…
Read MoreOld Chang Kee H1 profit rises 42% to S$6.2 million
CURRY puff maker Old Chang Kee on Friday (Nov 8) posted a net profit of S$6.2 million for the six months ended Sep 30, climbing 42 per cent from S$4.4 million year on year (yoy). This translated to an earnings per share of S$0.0512, compared with S$0.0361 a year ago. The group has declared an…
Read MoreSembcorp Industries to sell waste management unit to Indonesian energy company for S$405 million
ENERGY and urban development company Sembcorp Industries on Friday (Nov 8) announced that it intends to sell its wholly owned unit Sembcorp Environment to SBT Investment 2 for S$405 million. Sembcorp Industries and SBT Investment 2, which is wholly owned by Indonesia-listed integrated energy company TBS Energi Utama, on Friday entered into a share purchase…
Read MoreF&N FY2024 earnings rise 12.7% to S$150.2 million on higher revenue
BEVERAGE and publishing company Fraser and Neave (F&N) on Friday (Nov 8) announced a 12.7 per cent rise in net profit to S$150.2 million for the financial year ended Sep 30, from S$133.2 million a year ago. The group’s revenue grew 3 per cent to S$2.2 billion, from S$2.1 billion in FY2023. This was largely…
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