Posts by Yurie Miyazawa
Trump Media, fusion power firm TAE Technologies combine in US$6 billion deal
Under the deal, shareholders of both companies will own about 50% of the combined entity [NEW YORK] US President Donald Trump’s social media firm is entering the fusion-power business through a US$6 billion merger with privately held TAE Technologies, betting on the 7experimental technology as AI datacentres drive a surge in energy demand. The all-stock…
Read MoreElliott woos other Toyota Industries investors in buyout fight
[TOKYO] Elliott Investment Management has been approaching asset managers and other institutional investors in Japan to build support for its campaign and push Toyota group to sweeten its 4.7 trillion yen (S$38.9 billion) bid to take a key affiliate private, according to people familiar with the matter. Billionaire Paul Singer’s activist fund, which has quickly…
Read MoreKGI starts Ever Glory at ‘outperform’ with S$1.20 target amid high construction demand in Singapore
Its asset-light model and careful working-capital management enable disciplined expansion, says analyst [SINGAPORE] KGI Securities has initiated coverage on Ever Glory United with an “outperform” rating and a target price of S$1.20, on the back of strong order book visibility and exposure to Singapore’s infrastructure supercycle. Its development into a more “integrated platform” was observed…
Read MoreAcrophyte Hospitality Trust unit to divest Hyatt Place Primacy Parkway hotel for US$7.8 million
[SINGAPORE] ARA USH Chicago, an indirect wholly owned subsidiary of Acrophyte Hospitality Management Trust (AHT), is selling a hotel in the United States for US$7.8 million. Located in Memphis, Tennessee, the Hyatt Place Primacy Parkway hotel has 126 rooms and is 11.3 miles (18.2 km) south-east of the Memphis central business district, the managers of…
Read MoreWarburg Pincus is said to near acquisition of Asian firm Acclime
The transaction may value the corporate services firm at US$950 million to US$1 billion [HONG KONG] Warburg Pincus is nearing a deal to acquire Asia-focused corporate services firm Acclime, sources said. Warburg Pincus is the likeliest buyer after beating rival private equity firms, they said, asking not to be identified because the information is private.…
Read MoreGold ticks higher as US unemployment climbs in November
[BENGALURU] Gold climbed on Wednesday (Dec 17) after a US jobs report showed the unemployment rate rose in November, buoying bets of further US interest rate cuts next year while pressuring the US dollar and yields. Spot gold gained 0.4 per cent to US$4,318.37 per ounce, as at 9.17 am. US gold futures gained 0.3…
Read MoreProperty tycoon Gordon Tang to acquire Suntec Reit manager
Tang and his affiliates currently own 35.7% of Suntec Reit, while the Reit manager ESR Trust Management (Suntec) owns 10.8% [SINGAPORE] Acrophyte Asset Management, controlled by property tycoon Gordon Tang, has issued a disclosure of interest notification to acquire ESR Trust Management (Suntec), the manager of Suntec Real Estate Investment Trust (Reit). Acrophyte plans to…
Read MoreKeppel divests remaining interests in two Singapore data centres for S$50.5 million to Keppel DC Reit
[SINGAPORE] Asset manager Keppel announced on Tuesday (Dec 16) that its connectivity division has agreed to sell its stakes in two data centres for a total cash consideration of S$50.5 million to Keppel DC Real Estate Investment Trust (Reit). The remaining stakes held by Keppel are the 10 per cent interest in data centre Keppel…
Read MoreRupee hits record low, pressured by persistent outflows and NDF maturities
[MUMBAI] The Indian rupee slipped to an all-time low for the fourth consecutive session on Tuesday, pressured by dollar bids spurred by the likely maturity of positions in the non-deliverable forwards market and persistent portfolio outflows. The rupee slipped to an all-time low of 90.82, eclipsing its previous record low of 90.7875 hit on Monday.…
Read MoreJPMorgan debuts first money market fund tokenised on Ethereum
MONY, open to qualified investors, allows them to earn a yield while holding the token on the blockchain [NEW YORK] JPMorgan Chase’s asset management arm is launching its first ever tokenized money market fund built on Ethereum, joining a growing list of Wall Street firms pushing into blockchain-based finance. The New York-based bank on Monday…
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