Posts by Yurie Miyazawa
OCBC Q3 2024 results driven by customer growth and net new money inflow: CEO Helen Wong
She notes that the bank is seeing the outcome of its investment in people, products and capabilities to serve customers THE growth OCBC has seen in the third quarter ended September has been customer driven, said CEO Helen Wong, as growth plans and initiatives have paid off for the bank across geographies. “I feel the…
Read MoreGeely seeks over two billion euros loan to refinance Volvo truck deal
CHINESE billionaire Li Shufu’s Zhejiang Geely Holding Group is in talks with banks for a syndicated loan to refinance borrowings related to its acquisition of a stake in Volvo in 2018, according to sources familiar with the matter. The facility could be for more than two billion euros (S$2.9 billion) and launched into syndication as…
Read MoreSoros Fund Management to shut Hong Kong office in rejig
SOROS Fund Management, founded by billionaire George Soros, plans to shut its Hong Kong office as part of an administrative reorganisation, but said it will continue to invest in Asia. Following the closure, investments in Asia will be overseen from its New York and London offices, the New York-based firm said. It will continue to…
Read MoreRivian reassures investors with cost cuts, green credit sales amid weak EV demand
RIVIAN said on Thursday (Nov 7) it was on track to turn a gross profit in the fourth quarter helped by cost cuts and a sharp increase in sales of green car credits, despite a parts shortage disrupting production and weak electric vehicle (EV) demand. Reaffirming the forecast, along with that for full-year deliveries, helped…
Read MoreRinggit’s strength versus dollar faces test as US tariff risks loom
MALAYSIA’S ringgit, the only emerging Asian currency to strengthen against the US dollar this year, may see its performance ebb on risks from Donald Trump’s election win. A rally in the greenback and fears over higher tariffs on imports into the US have already started to weigh on the ringgit, which slid to its lowest…
Read MoreSasseur Reit Q3 rental income falls 2% to 158.6 million yuan
SASSEUR Real Estate Investment Trust’s (Sasseur Reit) rental income under its entrusted management agreement model for its third quarter ended September was down 2 per cent at 158.6 million yuan (S$29.3 million) from 161.9 million yuan in the previous corresponding period. Its rental income in Singapore-dollar terms fell 3.6 per cent because of the yuan’s…
Read More‘I would do it differently, if I were to do it again’: Outgoing DBS CEO on bank’s tech capabilities
OUTGOING DBS chief executive Piyush Gupta would have done things differently if he were given another chance to build the bank’s technology capabilities. Gupta’s 15-year tenure as head honcho saw DBS go all in to develop tech systems that transformed much of the bank ’s operations. DBS, South-east Asia’s largest bank, started its digital transformation…
Read MoreStocks to watch: UOB, OCBC, Sats, Sasseur Reit, Far East Orchard, Daiwa House Logistics Trust
THE following companies saw new developments that may affect trading of their securities on Friday (Nov 8):
Read MoreDHLT posts 5.5% drop in distributable income to S$25.5 million for 9M FY2024
THE manager of Daiwa House Logistics Trust (DHLT) has recorded distributable income of S$25.5 million for the first nine months of FY2024, down 5.5 per cent from S$27 million the year before. The decline was largely due to currency fluctuations, as the average exchange rate for the Japanese yen against the Singapore dollar was about…
Read MoreUOB posts 16% higher Q3 profit of S$1.61 billion
UOB’s net profit for the third quarter ended September 2024 rose 16 per cent year on year to S$1.61 billion, from S$1.38 billion the year before. Its results released Friday (Nov 8) beat the S$1.51 billion consensus forecast among four analysts polled by Bloomberg. UOB deputy chairman and chief executive Wee Ee Cheong attributed this…
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