Posts by Stephanie Irvin
China’s Comac eyes Singapore, Hong Kong for overseas offices
CHINESE planemaker Comac is considering opening its first offices in Asia outside of mainland China, sources familiar with the matter said, as part of a push to help its C919 single-aisle jet gain traction overseas and better compete against aircraft from Airbus and Boeing. Commercial Aircraft Corp of China may make an announcement about an…
Read MoreSingapore shares open higher on Wednesday; STI up 0.4%
SINGAPORE shares began Wednesday (Sep 11) trading in positive territory, mirroring overnight gains in Wall Street. As at 9.01 am, the Straits Times Index (STI) climbed 0.4 per cent or 12.37 points to 3,525.04. Across the broader market, gainers outnumbered losers 65 to 40 after 24 million securities worth S$62 million changed hands. Mainboard-listed property…
Read MoreQ&M Dental to acquire dental clinic business in Bukit Timah for S$800,000
Q&M Dental Group (Singapore) has entered into a binding memorandum of understanding (MOU) to acquire the dental clinic business of Veritas Dental for S$800,000. On Wednesday (Sep 11), the group said the proposed acquisition is in line with expanding its main dental business in Singapore. Veritas Dental is a company incorporated in Singapore and…
Read MoreStocks to watch: Mapletree Logistics Trust, Sabana Reit, Q&M Dental, Del Monte Pacific
THE following companies saw new developments that may affect trading of their securities on Wednesday (Sep 11): Mapletree Logistics Trust: Its manager on Tuesday announced its proposal to divest three warehouse properties in Malaysia for RM157.5 million (S$47.7 million). The proposed divestments are expected to be completed by FY2025. Units of Mapletree Logistics Trust closed…
Read MoreSpaceX says Starship launch license delayed to November
SPACEX is openly criticising what it sees as unacceptable delays in the licensing process for the next launch of its Starship rocket, saying US government approval is going to take months longer than it originally expected. In a lengthy update posted on its website on Tuesday (Sep 10), SpaceX said it expects to receive a…
Read MoreDell says job cuts will continue with margins under pressure
DELL Technologies will continue to reduce its workforce this year, trying to control costs amid concerns that demand for personal computers (PCs) has not rebounded and sales of servers optimised for artificial intelligence (AI) are not as profitable as other products. Dell said a limitation on outside hiring, job reorganisations and other actions will produce…
Read MoreUS: Wall Street opens higher as focus moves to inflation data
Wall Street’s main indexes opened higher on Tuesday (Sep 10) ahead of key inflation data later this week that could firm up bets on the size of the interest rate cut that the Federal Reserve is expected to deliver on Sept 18. The Dow Jones Industrial Average rose 86.9 points, or 0.21 per cent, at…
Read MoreDel Monte widens Q1 loss to US$34.2 million
CANNED-FOOD brand Del Monte Pacific on Tuesday (Sep 10) posted a net loss of US$34.2 million for the first fiscal quarter ended July, widening from its net loss of US$13.1 million in the corresponding year-ago period. The loss was largely driven by unfavourable results from its US subsidiary, Del Monte Foods (DMFI), and interest expenses,…
Read MoreMalaysia central banker sees rate hold in 2024, growth at 5%
MALAYSIA’S resilient economy and contained price pressures should allow it to keep interest rates unchanged for the rest of the year, even as global central banks pivot towards easing, according to Bank Negara Malaysia’s deputy governor. Malaysia’s economy is on track to grow around 5 per cent in 2024 while inflation will not exceed 3…
Read MoreMAS reprimands CEO of formerly registered insurance broker for breaching regulations
THE Monetary Authority of Singapore (MAS) said on Tuesday (Sep 10) that it reprimanded the chief executive of formerly registered insurance broker Acesynergy Brokers (ABPL) Tan Chuan Lam for breaches under the Insurance Act. The central bank had previously cancelled the insurance broker’s registration on Jul 24, prohibiting it from conducting insurance broking business in…
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