Posts by Stephanie Irvin
Nintendo Switch sales halve and profit tumbles as successor device awaited
JAPAN’S Nintendo said sales of its aging Switch console almost halved in the April-to-June first quarter and profit slumped, falling far short of estimates. The gaming giant sold just 2.1 million units of the Switch, which is in its eighth year, during the quarter but maintained its full-year sales forecast for 13.5 million units. Nintendo…
Read MoreOCBC looks to balance net interest income growth with NIM impact ahead of interest rate cuts
The bank’s Q2 net profit rises 14% to S$1.94 billion; the earnings are the second-strongest on record AHEAD of cuts to US interest rates, OCBC has noted the need to sustain growth in its net interest income (NII) while blunting the impact of lower net interest margins (NIMs), its group chief executive Helen Wong has…
Read MoreMAS sets up review group to improve Singapore stock market
The panel will build on existing initiatives introduced by the government to support enterprise financing THE Monetary Authority of Singapore (MAS) has set up a review group to recommend measures to aid in the development of the equities market in Singapore, it said on Friday (Aug 2). The panel will be chaired by Second Minister…
Read MoreStocks to watch: OCBC, Jardine Matheson, Jardine C&C, Hongkong Land, Seatrium
THE following companies saw new developments that may affect trading of their securities on Friday (Aug 2): OCBC: The bank’s net profit for the second quarter ended June rose 14 per cent to S$1.94 billion, from S$1.71 billion in the previous corresponding period. It said on Friday that this was underpinned by income growth and…
Read MoreOCBC Q2 profit up 14% at S$1.94 billion; S$0.44 per share interim dividend declared
OCBC’s net profit for the second quarter ended June rose 14 per cent to S$1.94 billion, from S$1.71 billion in the previous corresponding period. The bank on Friday (Aug 2) said this was underpinned by income growth and a decline in allowances. The earnings beat the S$1.81 billion consensus forecast in a Bloomberg survey of…
Read MoreNavigating sustainable governance – introducing a new dynamic SGTI
THE assessment of corporate governance practices and disclosures by all public-listed companies, real estate investment trusts (Reits) and business trusts in Singapore has been conducted on an annual basis for the last 15 years. Beginning as the Governance and Transparency Index in 2009, the assessment framework was revised and renamed the Singapore Governance and Transparency Index…
Read MoreUS: Rate-cut hopes prompt higher Wall St open
Wall Street’s main stock indexes opened higher on Thursday (Aug 1), boosted by the Federal Reserve’s signals of a September rate cut and a rosy sales forecast from Meta, although a pullback in chip stocks kept gains in check. The Dow Jones Industrial Average rose 74.2 points, or 0.18 per cent, at the open to…
Read MoreChinese luxury EV brand Zeekr launches in Singapore ahead of major Apac push
New York Stock Exchange-listed luxury electric vehicle (EV) brand Zeekr officially launched in Singapore at the ArtScience Museum on Thursday (Aug 1). Its debut here, where it is the first Chinese luxury brand to establish a presence, comes ahead of a major push in the region. At the event, Mars Chen, vice-president of Zeekr, told…
Read MoreNYSE-parent ICE second-quarter profit rises on robust trading
INTERCONTINENTAL Exchange (ICE) reported a rise in second-quarter profit on Thursday (Aug 1), helped by a strong performance in its exchanges business as trading remained strong. The conflict in the Middle East has changed the landscape for global commodity and energy markets, significantly raising volatility and bumping up trades as investors assess the impact of…
Read MoreJardine Cycle & Carriage H1 underlying profit falls 14% to US$500 million
JARDINE Cycle & Carriage posted an underlying profit of US$500 million for the first half of 2024, down 14 per cent from US$583 million in the year-ago period. The group’s businesses in Indonesia and Vietnam experienced softer consumer demand and lower commodity prices compared to before. “Weaker domestic currencies in these countries also had an…
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