Posts by Stephanie Irvin
Money laundering case: Bulk of S$3 billion worth of assets seized from 17 foreigners, not from 10 arrested
THE S$3 billion in cash and assets seized or issued with prohibition of disposal orders in Singapore’s largest money laundering case belonged to 27 individuals, and not just the 10 hauled to court on various charges. In response to queries from The Straits Times (ST), the police on Jun 5 said 17 other individuals are…
Read MoreUG Healthcare makes acquisitions in Spain, Germany
UG HEALTHCARE : 8K7 0% announced on Thursday (Jun 6) that it acquired a 50 per cent interest in reusable glove distributor UG Nitrex to form a joint venture with its initial shareholders in Spain for 500,000 euros (S$730,650). The acquisition was accompanied by a put-and-call option agreement between Unigloves Singapore – UG Healthcare’s wholly…
Read MoreASML to ship its US$380 million chip machine to TSMC this year
ASML Holding will ship its latest chipmaking machine to Taiwan Semiconductor Manufacturing Company (TSMC) this year. Two of ASML’s biggest customers, TSMC and Intel, will get the so-called high-NA extreme ultraviolet (EUV) machine by the end of this year, chief financial officer Roger Dassen told analysts in a recent call, according to company spokesperson Monique…
Read MoreBanks’ drive to ‘tokenise’ assets moves slower than expected
BANKS which for years have talked about creating ‘tokenised’ versions of assets such as bonds and currencies say a shift to blockchain-based trading is taking longer than expected, with some investors cautious about the idea. By creating tokenised assets – usually blockchain-based tokens to represent holdings of mainstream assets such as currencies or bonds –…
Read MoreUS: Stocks up as Nvidia tops US$3 trillion market capitalisation
WALL Street stocks closed solidly higher on Wednesday (Jun 5), with the S&P 500 and Nasdaq both hitting fresh highs while chip designer Nvidia topped US$3 trillion in market value. This makes Nvidia only the third United States company to reach a market valuation of that level, after Microsoft and Apple. The broad-based S&P 500…
Read MoreBoeing’s Starliner capsule is launched from Florida on first crewed space flight
BOEING’S new Starliner astronaut capsule was launched from Florida on Wednesday (Jun 5) in a much-delayed first test flight carrying a crew, a milestone in the aerospace giant’s ambitions to step up its competition with Elon Musk’s SpaceX. The CST-100 Starliner, with two astronauts aboard, lifted off from the Cape Canaveral Space Force Station in…
Read MoreQatarEnergy signs LNG supply deal with Taiwan’s CPC
QATARENERGY signed a deal on Wednesday (Jun 5) to supply Taiwan’s state-owned oil firm Chinese Petroleum Corp (CPC) with liquefied natural gas (LNG) for 27 years and giving it a stake in the Gulf state’s gas expansion project. The state-owned Qatari firm said that it will supply CPC with four million tonnes per annum (mtpa)…
Read MoreMcDonald’s chicken ‘Big Mac’ trademark axed in EU
MCDONALD’S lost the European Union trademark rights to chicken versions of its iconic “Big Mac” burgers after judges ruled that the fast food giant failed to do enough to claim exclusive rights. In a ruling that leaves the protection for the traditional beef Big Mac intact, the EU’s General Court in Luxembourg ruled that McDonald’s…
Read MoreOCBC eyes rising investment flows as Greater China companies expand into Asean
MORE companies in Greater China (China, Hong Kong, Macau and Taiwan) are looking to set up shop in Asean – and OCBC is looking to capture these flows, said OCBC group chief executive Helen Wong. She noted that 11 per cent of China’s outbound investment flowed into Asean in 2022, and believes that the figure…
Read MoreNXP, Vanguard to invest US$7.8 billion in Singapore wafer plant
NXP Semiconductors and TSMC-backed Vanguard announced a US$7.8 billion joint venture to produce silicon wafers on Wednesday (Jun 5), joining other chipmakers setting up plants in Singapore to diversify their manufacturing base. Taiwan’s Vanguard International Semiconductor Corp will invest US$2.4 billion for a 60 per cent stake, while NXP will invest US$1.6 billion and hold…
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