Posts by Stephanie Irvin
Cordlife shareholder linked to Nanjing Xinjiekou owner dumps entire 10% stake
Global Cord Blood Corporation is ultimately owned by Sanpower Group Corporation, which also holds a stake in Nanjing Xinjiekou Department Store GLOBAL Cord Blood Corporation’s joint liquidators from Grant Thornton, a substantial shareholder of Cordlife Group, have disposed of more than 25.5 million shares in the mainboard-listed cord blood bank, the group said in a…
Read MoreTemasek appoints 3 external hires to senior management, including MTI perm sec Gabriel Lim
The company says it will continue to rotate and expose its leaders across different sectors and functions SINGAPORE investment company Temasek will appoint three new external hires, including a permanent secretary, to senior leadership roles over the next two months. Gabriel Lim, who is currently permanent secretary for policy at the Ministry of Trade and…
Read MoreGerman carmaker mood darkens on slowing EV shift, China slump
GERMANY’S carmakers are growing gloomier about their prospects after a disappointing earnings season marked by waning electric vehicle (EV) sales and weakness in China for companies including Volkswagen and Mercedes-Benz. Business expectations by the German auto industry deteriorated to minus 18.3 points in July, from minus 9.5 points the month before, according to a survey…
Read MoreJapan’s Nikkei sees biggest rout since 1987 Black Monday
JAPANESE stocks collapsed on Monday (Aug 5) in their biggest single day rout since the 1987 Black Monday sell-offs, driven by last week’s plunge in global stock markets, economic concerns and worries investments funded by a cheap yen were being unwound. The Nikkei share average shed a staggering 12.4 per cent as Friday’s dismal jobs…
Read MoreUOB prices A$1 billion worth of conventional single-tranche senior bonds
UOB has priced A$1 billion (S$858.1 million) in four-year senior unsecured notes due 2028 under its US$30 billion global medium-term note programme. The notes were priced on Friday (Aug 2) at the three-month Bank Bill Swap Rate (BBSW) plus 0.74 per cent. The BBSW is a short-term interest rate commonly used as a benchmark to…
Read MoreGold eases as profit-taking counters rate-cut bets
GOLD prices eased on Monday (Aug 5) amid profit-taking, but recession worries and rising expectations of United States interest rate cuts limited further downside. Spot gold was down 0.1 per cent to US$2,439.94 per ounce by 0158 GMT. US gold futures rose 0.5 per cent to US$2,482.00. Data on Friday showed that job growth in…
Read MoreManulife US Reit posts 27.5% lower H1 distributable income per unit of US$0.0129
MANULIFE US Real Estate Investment Trust (Reit)’s adjusted distributable income (DI) per unit for the first half ended Jun 30 declined 27.5 per cent year on year to US$0.0129, versus US$0.0178 in the year prior. On Monday (Aug 5), the Reit manager said adjusted DI was down 27.8 per cent to US$22.9 million after accounting…
Read MoreShould ThaiBev’s minority shareholders support the proposed FPL-F&N share swap?
FPL and F&N are plainly undervalued, but ascribing a precise fair value to a company can be tricky While this column was on a hiatus last month, Thai Beverage (ThaiBev) unveiled a proposal to offload its entire interest in Frasers Property (FPL) and increase its stake in Fraser and Neave (F&N). The deal will turn…
Read MorePrivate credit sells funds for small investors as big ones balk
Private credit firms are looking to get their share of an estimated US$178 trillion personal wealth market by offering individual investors what looks almost like a mutual fund. The product, called an interval fund, is being pitched to registered investment advisers as an easy-to-sell entry into direct lending. Interval funds are being offered in amounts…
Read MoreS’porean David Yong, who was in Netflix’s Super Rich in Korea, charged with falsification of accounts
Singaporean businessman David Yong has been charged with falsification of accounts in relation to a promissory note arrangement involving Evergreen Group Holdings. The 37-year-old chief executive of Evergreen Group Holdings, whose full name is Yong Khung Lin, was arrested on Aug 1 and charged on Aug 3. He is accused of having the intention to defraud…
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