Posts by Stephanie Irvin
Top 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…
Read MoreUS: Nvidia at new record as stocks end mixed
[NEW YORK] Wall Street stocks finished mixed on Wednesday as markets weighed lingering worries over Iran, while Nvidia surged to a fresh record amid continued artificial intelligence bullishness. President Donald Trump boasted that US strikes had destroyed Iran’s nuclear program, although leaked US intelligence said the strikes had set back Tehran’s nuclear programme by just a few…
Read MoreHSBC sees ‘huge opportunities’ for Singapore businesses in India’s fast-changing economy
[SINGAPORE] Companies based in Singapore are well-positioned to seize “huge opportunities” in India’s rapidly evolving economy, said two senior HSBC executives in a recent interview with The Business Times. Key areas of growth include technology, healthcare, renewables and data centres, said Wong Kee Joo, chief executive officer of HSBC Singapore. “From a renewables perspective, since…
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