Posts by Yurie Miyazawa
With its teleconsultation platform intact, revoking MaNaDr’s licence could have little impact
Telemedicine revenue accounts for about US$12.8 million or 90.4% of its parent company’s total sales JUST days before Christmas, MaNaDr Clinic unwrapped a lump of coal in its stocking – confirmation that the healthcare provider’s licence to offer medical services in Singapore had been revoked. The news was not entirely unexpected. The writing had been…
Read MoreAlibaba, E-Mart to create US$4 billion e-commerce JV in South Korea
Alibaba Group Holding agreed to merge its South Korean operations with E-Mart’s e-commerce platform to better compete in the country’s fast-paced online retail sector. AliExpress International and Gmarket are creating a 50-50 joint venture, according to a stock exchange filing by E-Mart which confirmed a report by Bloomberg News. The companies plan to make further…
Read MoreSingapore Institute of Advanced Medicine says ‘no assurance’ it can turn profitable
Troubled healthcare provider Singapore Institute of Advanced Medicine Holdings (SIAMH) said on Thursday (Dec 26) that it is not guaranteed that the company can generate “significant” revenue and profitability. “There is no assurance that the group will be able to expand its business and secure sufficient patients to generate significant revenue and profitability or, if…
Read MoreOla Electric opens 3,200 stores amid year of consumer complaint woes
OLA Electric Mobility announced the opening of 3,200 new stores in a single day, as India’s biggest e-scooter maker seeks to expand its local footprint and address customer frustration related to shortcomings in service. The Bengaluru-based Ola Electric has increased the number of showrooms and service centres to 4,000, Ankush Aggarwal, group head of financial…
Read MoreAsia: Stocks up as ‘Santa Rally’ persists
ASIA’S stocks rose in thin Boxing Day trade on Thursday (Dec 26), extending a “Santa Rally” with key markets Hong Kong and Sydney still shut for the holidays. Japan’s Nikkei index was up 0.5 per cent at the break, boosted by a Christmas Eve tech rally on Wall Street and gains for top-selling automaker Toyota. …
Read MoreOil prices edge higher on hopes for more China stimulus
OIL prices edged higher on Thursday (Dec 26) in thin holiday trading, driven by hopes for additional fiscal stimulus in China, the world’s biggest oil importer, while an anticipated decline in US crude inventories also provided support. Brent crude futures rose 11 US cents, or 0.2 per cent, to US$73.69 a barrel by 0148 GMT.…
Read MoreKoh Brothers Eco unit wins S$313.9 million LTA contract to build bus depot
CATALIST-LISTED engineering solutions provider Koh Brothers Eco Engineering was awarded a S$313.9 million contract by the Land Transport Authority (LTA) through its wholly owned subsidiary, Koh Brothers Building & Civil Engineering Contractor (KBCE). Under the contract commencing on Jan 6, KBCE will be designing and constructing a multi-storey bus depot at Lorong Halus. This includes…
Read MoreChina avoids rate cut to keep ammunition for future pressure
CHINA refrained from cutting the interest rate and drained the most cash since 2014 with a one-year policy tool, keeping its powder dry ahead of possible escalation in trade tensions with the US next year. The People’s Bank of China (PBOC) held the interest rate on the one-year medium-term lending facility (MLF) steady at 2…
Read MoreTaiwan blocks Uber’s US$950 million Foodpanda deal over competition concerns
TAIWAN has blocked Uber Technologies’ US$950 million purchase of Delivery Hero’s Foodpanda business on the island because of concerns it would be anti-competitive, the Fair Trade Commission (FTC) said on Wednesday (Dec 25). Uber and Foodpanda did not immediately respond to requests for comment outside regular business hours. Delivery Hero said in a statement that…
Read MoreTaiwan blocks Uber’s US$950 million Foodpanda deal over competition concerns
TAIWAN has blocked Uber Technologies’ US$950 million purchase of Delivery Hero’s Foodpanda business on the island because of concerns it would be anti-competitive, the Fair Trade Commission (FTC) said on Wednesday (Dec 25). Uber and Foodpanda did not immediately respond to requests for comment outside regular business hours. Delivery Hero said in a statement that…
Read More