Posts by Yurie Miyazawa
Companies should do away with having an executive chairman
The individual might get too involved in the group’s operations, and the staff could be torn between potentially competing centres of power AMID an uncertain economic backdrop, many companies are looking to pare costs. Perhaps, cost savings can be found at the board level, say by cutting director fees or doing away with paying fees…
Read MoreTencent SDRs fall nearly 7% after US designates tech giant as ‘Chinese military’ firm
TENCENT’S Singapore-listed shares, or Singapore Depository Receipts (SDRs), fell nearly 7 per cent on Tuesday (Jan 7) morning after the US categorised it as a “Chinese military” company. The US Department of Defense included the Chinese tech giant on a list of “Chinese military companies.” This means that the US defense agency is prohibited from…
Read MoreDBS upgrades PropNex to a buy rating, lifts target price on expected ‘rebound’ in property market
DBS Group Research on Monday (Jan 6) upgraded its call for real estate agency PropNex to “buy” and raised its target price on the counter by 21.1 per cent to S$1.15 from S$0.95 previously. This comes as the research team forecasts a positive earnings outlook for PropNex in 2025 amid a “strong pipeline of new…
Read MoreToyota aims to open its futuristic city in Japan this year
TOYOTA Motor plans to move in the first 100 residents of a futuristic city at the base of Mount Fuji in Japan by as soon as this fall. The initial residents of Woven City will be composed mostly of the carmaker’s own employees and their families, and will gradually expand to about 2,000 residents as…
Read MoreThe unravelling of Hin Leong and OK Lim’s fall from grace
ONCE a giant in Singapore’s oil trading industry, the collapse of Hin Leong Trading (HLT) exposed a web of fraud, forgery and financial mismanagement. Founder Lim Oon Kuin – better known as OK Lim – was declared a bankrupt and also jailed 17 years.Here’s how it all went south for the once-iconic oil trader and…
Read MoreMcDonald’s rolls back some diversity practices in head office
MCDONALD’S is retiring its goal for diversity in corporate leadership and shifting away from some diversity practices, citing a “shifting legal landscape” in the United States in an open letter sent to employees and franchise owners. The rollback by the fast-food chain follows other US corporations shying away from diversity, equity and inclusion (DEI) initiatives…
Read MoreEurope: Shares rev up as auto sector jumps on report of softer US tariffs
EUROPEAN markets closed higher on Monday (Jan 6), as investor optimism was fuelled by a report suggesting that US tariffs might be less severe than previously feared, boosting the automobile sector. Europe’s premier index, Stoxx 600, closed up 0.5 per cent, at its highest level in more than two weeks. Major bourses across the region…
Read MoreFormer PSA chairman and veteran banker Fock Siew Wah dies, aged 84
FORMER PSA International chairman Fock Siew Wah, who steered the port operator for over 13 years and grew its global footprint, died on Jan 6. He was 84. The veteran banker played a key role leading several public and private sector boards, notably in transport. He started his career as a junior clerk at OCBC…
Read MoreUS: Wall St opens higher after report of selective Trump tariffs; chip stocks gain
WALL Street’s main indexes opened higher on Monday (Jan 6) as optimism around AI boosted technology stocks, and a report suggested the incoming Trump administration could adopt a less aggressive stance on tariffs than previously anticipated. The Dow Jones Industrial Average rose 103.4 points, or 0.24 per cent, at the open to 42,835.52. The…
Read MoreStraits Trading Company expects to raise up to S$10 million through digital commercial paper
THE Straits Trading Company on Monday (Jan 6) launched the second series of its three-month commercial paper in digital securities on Singapore’s Digital Assets Exchange (SDAX). It will be offered for subscription only to accredited investors and institutional ones at an interest rate of 3.7 per cent per annum, and will mature about three months…
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