Posts by Yurie Miyazawa
Wilmar posts 39.4% fall in H2 net profit on absence of year-ago gain, weak sugar price
AGRIBUSINESS Wilmar International posted a 39.4 per cent fall in net profit to US$590.2 million for the six months ended December 2024. The decline was due to the absence of a US$231 million gain in the year-ago period – from the disposal of its Moroccan associate Cosumar – as well as a US$22.8 million net…
Read MoreTikTok restructures trust and safety team, lays off staff in unit: sources
The layoffs began the same day for teams in Asia and Europe, Middle East and Africa TIKTOK is laying off global staff at its trust and safety unit which handles content moderation as part of a restructuring, three sources familiar with the matter said on Thursday (Feb 20). Two sources said that Adam Presser, operations…
Read MoreSingapore’s Abaxx Exchange plans gold futures as metal surges
SINGAPORE’S Abaxx Exchange plans to introduce gold futures in the coming months, with prices setting fresh records this year as traders grapple with disruptions in key bullion hubs and increased haven demand. The contracts – which will be physically deliverable in the South-east Asian city-state – will seek to connect futures and physical markets in…
Read MoreAnalysts raise target prices, dividend estimates on UOB as they get positive on earnings outlook
Maybank forecasts return on equity to increase, thereby driving higher valuations ANALYSTS have raised their target prices for UOB after the lender on Wednesday (Feb 19) posted full-year net profit that reached a record of S$6.05 billion. It also announced a S$3 billion package to distribute surplus capital over the next three years, through special…
Read MoreManulife US Reit to sell Plaza office building for US$40 million as H2 distributable income falls 57.6%
THE manager of Manulife US Real Estate Investment Trust (Reit) reported on Thursday (Feb 20) that its distributable income fell 57.6 per cent to US$15.4 million from US$36.3 million in the year-ago period, with its revenue and net property income (NPI) declining. It reported a 57.6 per cent decline in adjusted distributable income per unit…
Read MoreSingapore shares open lower on Thursday; STI down 0.4%
SINGAPORE stocks declined on Thursday (Feb 20) morning, tracking overnight losses in European markets. As at 9.01 am, the Straits Times Index (STI) opened 0.4 per cent or 14.07 points lower at 3,919.97. Across the broader market, losers outnumbered gainers 60 to 46 after 41.2 million securities worth S$74.4 million changed hands. Among…
Read MoreTrump tariff worries keep gold near record high level
GOLD prices edged higher on Thursday (Feb 20), hovering near their all-time highs as concerns persisted over US President Donald Trump’s tariff strategies, which could fuel inflation and escalate a global trade war. Spot gold rose 0.2 per cent to US$2,938.57 an ounce, as at 0027 GMT. Bullion scaled an all-time high of US$2,946.85 on…
Read MoreStocks to watch: Seatrium, SingPost, Sasseur Reit, CSE Global, United Hampshire US Reit
THE following companies saw new developments that may affect trading of their securities on Thursday (Feb 20). Seatrium: It announced on Thursday that its offshore jack-up designer, Seatrium Offshore Technology, won an international tender from shipyard International Maritime Industries for the supply of equipment and licence of a drilling unit. The company said this…
Read MoreSiemens set to raise 1.4 billion euros in Healthineers stake sale
SIEMENS is likely to raise about 1.4 billion euros (S$2 billion) from the sale of a roughly 2.3 per cent stake in Siemens Healthineers, the medical technology unit it listed in 2018, after increasing the size of the deal. The German group increased the number of Healthineers shares offered to around 26.5 million from 22…
Read MoreManulife’s profit climbs on wealth management strength, Asia growth
MANULIFE Financial posted higher fourth-quarter profit on Wednesday, bolstered by a thriving wealth and asset management business and strong growth in Asia. The results underscore the rising significance of Manulife’s asset and wealth management unit. Insurers have been expanding their investment advisory and retirement planning services to tap into the rising demand for long-term financial…
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