Posts by Stephanie Irvin
China’s BYD signs deal to open electric car plant in Turkey
CHINA’S electric vehicle (EV) giant BYD on Monday (Jul 8) signed a US$1 billion agreement with Turkey to open a plant in the country in a move that would help it dodge new EU tariffs. The signing ceremony in Istanbul between BYD’s CEO Wang Chuanfu and Turkey’s industry and technology minister Fatih Kacir was overseen…
Read MoreTan Chong expects 86% fall in profit after tax for H1 2024 on ‘severe drop in sales’
Markets with ‘significant losses’ include Malaysia, Thailand, Taiwan, Singapore and the Philippines AUTO dealer Tan Chong International is expecting an 86.6 per cent fall in profit after tax to HKD$25 million (S$4.3 million) in the first half of 2024, from HKD$187 million in the same period of 2023. This comes after the group experienced a…
Read MoreMore misses than hits for Singapore firms that listed in the US in H1
Despite all the drawbacks, analysts say that the US market remains more attractive than the local bourse EVEN as many initial public offering (IPO) aspirants seek to list in the US, the recent experience of some Singapore companies has been less than positive. A check by The Business Times found that three out of the…
Read MoreAsia Impact First Fund leads S$2 million funding in social enterprise The Gentle Group
THE Gentle Group, a Singapore-based social enterprise founded in 2017, has bagged a S$2 million investment from the Asia Impact First Fund (AIFF) and Seeds Capital, which is the investment arm of Enterprise Singapore. It announced on Monday (Jul 8) that it plans to use the funds to increase the production capacity for its textured-modified…
Read MoreCarlsberg to buy Britvic for US$4.2 billion and take over Marston’s joint venture
The new Carlsberg Britvic business will also strengthen the Danish group’s partnership with PepsiCo Carlsberg has agreed to buy British soft drinks maker Britvic for US$4.23 billion and buy out UK pub group Marston’s from its joint venture with the Danish brewer. Carlsberg’s announcement on Monday (Jul 8) said that it plans to create an…
Read MoreThat’s a no, on GIC
In this issue:
Read MoreTSMC shares soar to record on expectations of tight 2025 supply
TAIWAN Semiconductor Manufacturing Company (TSMC) rose to a record intraday high in Taipei after Morgan Stanley joined a list of brokers boosting price targets on the chipmaker before its earnings. TSMC’s shares jumped as much as 4.5 per cent in Taipei, extending its rally this year to more than 75 per cent. Morgan Stanley raised…
Read MoreTSMC shares soar to fresh high on expectations of tight 2025 supply
Taiwan’s stock market rose by more than 300 points to close at a fresh high on Monday (Jul 8) on the back of strong performances by chipmaker Taiwan Semiconductor Manufacturing Co (TSMC) and iPhone-assembler Hon Hai Precision Industry. Market sentiment improved as investors witnessed major indexes for the US markets hit record highs at the…
Read MoreAsia: Euro slips in trade after snap French poll
THE euro slipped in Asian trade on Monday after snap French elections in which a hung parliament appeared the likeliest outcome, as markets in the region searched for direction after Wall Street closed the previous week on a strong note. In France, the left was set to emerge as the biggest group in a new…
Read MoreWSI secures S$5 million strategic investment, to expand its investments in new media intellectual property and sports portfolio
SINGAPORE — Jul 8, 2024 — Wonder Strategic International (WSI) has secured a six-figure strategic investment from Mr. Jimmy Poh, an accomplished Real Estate Senior Associate Division Director renowned for his exceptional performance and expertise in the industry. With nearly eight years of experience, Jimmy has established himself as a top achiever. Jimmy held significant…
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