Posts by Stephanie Irvin
Goldman sells significant risk transfer bond tied to US$2 billion of private fund loans
GOLDMAN Sachs is selling a bond that will help it offload risk from a portfolio of about US$2 billion of loans, according to sources with knowledge of the matter. The bank is selling notes that are tied to a pool of loans to private market funds, the sources said. If enough of the loans default,…
Read MoreMalaysia’s Sarawak reclaims gas assets in autonomy bid
MALAYSIA’S biggest state, Sarawak, is set to take control of its natural gas assets from federal government-run companies, as its campaign for economic autonomy bears fruit in the South-east Asian country’s fragile political landscape. The Borneo island state’s oil firm, Petroleum Sarawak, last week signed its first gas sale agreements. It is effectively starting a…
Read MoreDasin Retail Trust to hold EGM by end-September on amending trust deed, removing adviser
THE trustee-manager of Dasin Retail Trust on Wednesday (Jul 31) said it will be holding an extraordinary general meeting (EGM) to vote on resolutions requisitioned by unitholders representing around 12.57 per cent of the total voting rights of unitholders in the trust. The requisitioning unitholders consist of DBS Nominees – which refers to units held…
Read MoreFed expected to hold rates and signal September cut
FEDERAL Reserve officials are likely to move closer to lowering interest rates from a two-decade high this week by signalling a potential rate cut in September, though they may stop short of providing details beyond that. The US central bank’s Federal Open Market Committee (FOMC) will keep its benchmark rate in a range of 5.25…
Read MoreStocks to watch: Great Eastern, CapitaLand Ascendas Reit, MPACT, ESR-Logos Reit, Aims Apac Reit
THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 31): Great Eastern: The insurer on Wednesday posted a 45 per cent year-on-year increase in net profit to S$280.4 million for the second quarter ended Jun 30, from S$193.2 million. On a half-yearly basis, net profit increased 34 per cent…
Read MoreESR-Logos Reit H1 DPU falls 18.6% to S$0.01122
ESR-LOGOS Real Estate Investment Trust (ESR-Logos Reit) posted an 18.6 per cent drop in distribution per unit (DPU) to S$0.01122 for the first half ended Jun 30, from S$0.01378 in the previous corresponding period. It also announced acquisitions of two facilities in Japan and Singapore for S$772.6 million. On Wednesday (Jul 31), the manager attributed…
Read MoreChina’s mega-grocers turn to an upstart to win back shoppers
CHINA’S biggest supermarkets are struggling to survive. France’s Carrefour has shut more than 140 mainland stores, leaving just four remaining outlets, and the UK’s Tesco has exited entirely. Traffic-driving membership chain Sam’s Club is a bright light for Walmart, which has had to rethink its China strategy. Last year, four out of five of China’s…
Read MoreGreat Eastern Q2 earnings up 45% at S$280.4 million; declares interim dividend of S$0.45 per share
INSURER Great Eastern on Wednesday (Jul 31) posted a 45 per cent increase in net profit to S$280.4 million for the second quarter ended Jun 30, from S$193.2 million in Q2 FY2023. For the six months ended Jun 30, net profit increased 34 per cent year on year to S$587.1 million, from S$437.2 million. This…
Read MoreIntel to cut thousands of jobs to reduce costs, fund turnaround
INTEL plans to eliminate thousands of jobs to reduce costs and fund an ambitious effort to rebound from an earnings slump and market share losses. The workforce reduction may be announced as early as this week, according to sources familiar with the company’s plans, who asked not to be identified because the information is not…
Read MoreP&G posts surprise sales drop as demand slows despite price controls
PROCTER & Gamble posted a surprise drop in fourth-quarter sales, as demand for its Charmin toilet paper and Pampers diapers slowed globally despite efforts to keep prices in check, sending its shares down 5 per cent before the bell on Tuesday (Jul 30). Attempts to raise prices more slowly have not been enough to win…
Read More