Posts by Stephanie Irvin
Singapore’s millionaire inflow to halve in 2025: report
[SINGAPORE] Singapore will likely see a net inflow of 1,600 millionaires in 2025 – less than half the 3,500 that had been projected to move there in 2024, a report by investment migration consultancy Henley & Partners showed. This is even as a record 142,000 millionaires worldwide are expected to relocate this year, according to…
Read MoreIndonesia working on new e-commerce tax rule in bid to target ‘shadow economy’
[JAKARTA] Indonesia is working on a new regulation that will require e-commerce platforms to collect and pass on sellers’ sales income in a bid to tackle the “shadow economy”, its tax office said on Thursday (Jun 26) confirming a Reuters report earlier this week. Citing sources, Reuters reported exclusively on Tuesday about a planned directive…
Read MoreTop Glove Q3 profit slides 31% to RM34.7 million despite higher revenue
[SINGAPORE] Malaysian glove maker Top Glove on Thursday (Jun 26) posted a net profit of RM34.7 million (S$10.5 million) for its third quarter ended May, 31 per cent down from a profit of RM50.7 million in the previous corresponding period. Earnings per share for the quarter stood at 0.43 sen, down from 0.63 sen previously.…
Read MoreBank of Korea overhauls repo framework amid changing liquidity conditions
[SEOUL] The Bank of Korea (BOK) said it’s revamping its open market operation framework to increase its operational flexibility to manage liquidity, stabilise short-term rates, and respond during periods of financial stress. Starting Jul 10, the central bank will conduct both buying and selling of repurchase agreements, or repos on fixed days, shifting away from…
Read MoreMars US$36 billion Kellanova deal waved ahead by US regulator
[SAN FRANCISCO] Mars’ US$36 billion takeover of snack maker Kellanova was given the green light by the US Federal Trade Commission (FTC) on the same day European Union regulators opened up a lengthy probe of the deal. The head of antitrust enforcement at the Washington-based agency said a review of the deal found that it…
Read MoreCivmec set to acquire ship manufacturer Luerssen Australia for A$20 million
[SINGAPORE] Construction and engineering services provider Civmec will purchase Luerssen Australia from Naval Vessels Lurssen (NVL) Australia for A$20 million (S$16 million) in cash, the company said on Thursday (Jun 26). Civmec will take ownership of the whole business, including assets, employees and licences. The deal will be funded by the group’s existing cash reserves.…
Read MoreCapitaLand India Trust prices S$100 million perpetual securities at 4.4%
The issuance is part of Clint’s S$1.5 billion multicurrency debt issuance programme [SINGAPORE] CapitaLand India Trust (Clint) has priced S$100 million worth of subordinated perpetual securities, with a fixed rate of 4.4 per cent per annum, the trustee-manager said on Wednesday (Jun 25). The issuance is part of Clint’s S$1.5 billion multicurrency debt issuance programme.…
Read MoreShell says it isn’t in talks to take over oil rival BP
Speculation has been growing that the embattled company would become a takeover target Published Thu, Jun 26, 2025 · 08:03 AM [LONDON] Shell denied a Wall Street Journal report that it is in active talks about acquiring its London-based oil rival BP. “This is further market speculation. No talks are taking place,” a Shell spokesperson…
Read MoreAssisted living in Singapore: Companies face steep costs, but innovation is still possible
[SINGAPORE] Assisted living facilities – which enable elderly folk to live semi-independently with elderly-friendly amenities and care services – are a tough business in land-scarce Singapore. But there is still room for more private operators to pilot new models and innovate. Healthcare and real estate company Perennial Holdings is investing in this space. In 2023,…
Read MoreSingPost pays ex-CEO Phang S$616,400 for FY2025 as it pursues automation, leadership reset
[SINGAPORE] Former Singapore Post (SingPost) group chief executive Vincent Phang, who was dismissed over the mishandling of a whistleblower complaint, received S$616,400 in remuneration for the financial year ended Mar 31. According to SingPost’s latest annual report released on Tuesday (Jun 24), the payout comprised S$570,600 in fixed salary, S$10,500 in provident fund contributions, and…
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