Posts by Yurie Miyazawa
StanChart boosts return plan to US$8 billion as profit beats
STANDARD Chartered vowed to return at least US$8 billion to investors by 2026 as it reported better-than-estimated third-quarter earnings on its wealth business and markets trading. The London-headquartered bank said adjusted pretax profit rose 37 per cent to US$1.8 billion in the quarter, beating the US$1.5 billion Bloomberg-compiled analyst estimate. It had previously vowed to…
Read MoreCrypto exchange Gemini gets MAS’ in-principle nod for major payment institution licence
AMERICAN cryptocurrency exchange Gemini has received in-principle approval from the Monetary Authority of Singapore (MAS) for a major payment institution licence. This licence will allow it to provide cross-border money transfer and digital payment token services, the New York-based company announced on Tuesday (Oct 29). Gemini considers the in-principle approval a “significant milestone”, and will continue…
Read MoreESR-Logos Reit Q3 net property income declines 6.5% to S$192.7 million amid divestments
ESR-Logos Real Estate Investment Trust (Reit) reported a 6.5 per cent decline in net property income (NPI) in the third quarter to S$192.7 million, from S$206.1 million in the year-ago period, its manager said on Wednesday (Oct 30). Gross revenue fell 6.3 per cent to S$272.5 million for the three months ended Sep 30 from…
Read MoreBlackRock talks to buy private-credit firm HPS advance
BLACKROCK is in advanced talks to buy HPS Investment Partners, emerging as the only suitor in active talks with the firm as the world’s largest asset manager seeks to compete in the fast-growing private credit industry. The two sides are seeking to reach an agreement by the end of this year, according to sources with…
Read MoreStocks to watch: Hongkong Land, Mapletree Industrial Trust, CapitaLand Ascott Trust, Cordlife
THE following companies saw new developments that may affect trading of their securities on Wednesday (Oct 30): Hongkong Land: Hongkong Land said on Tuesday that it will exit the build-to-sell residential development business and pivot to fund management. The moves come amid its strategic review of its business as Hongkong Land swung to an underlying…
Read MoreCircle raises fees despite rising stablecoin market competition
FOR the second time in less than a year, Circle Internet Financial has increased the fees it charges to cash out holdings of its USDC stablecoin. Redemption of USDC via the Circle Mint platform used to be free and unlimited. In February, Circle introduced a fee for swaps above US$15 million. Now, there are additional…
Read MoreOpenAI builds first chip with Broadcom and TSMC, scales back foundry ambition
OPENAI is working with Broadcom and Taiwan Semiconductor Manufacturing Company (TSMC) to build its first in-house chip designed to support its artificial intelligence (AI) systems while adding Advanced Micro Devices (AMD) chips alongside Nvidia chips to meet its surging infrastructure demands, sources said. OpenAI, the fast-growing company behind ChatGPT, has examined a range of options…
Read MoreAMD tumbles after AI chip growth fails to inspire investors
ADVANCED Micro Devices (AMD) slid in late trading after the chipmaker’s revenue forecast missed analysts’ estimates, a sign its artificial intelligence (AI) sales are growing more slowly than some had anticipated. Revenue will be roughly US$7.5 billion in the fourth quarter, the company said on Tuesday (Oct 29). Analysts estimated US$7.55 billion on average. Though…
Read MoreMapletree Industrial Trust DPU up 1.5% at S$0.0337, with higher occupancy and rents
MAPLETREE Industrial Trust (MIT) reported a distribution per unit (DPU) of S$0.0337 for the second fiscal quarter ended Sep 30, 2024, up 1.5 per cent from S$0.0332 in the corresponding year-ago period. Its manager noted a “robust operational performance”, with higher average overall portfolio occupancy quarter on quarter, and positive rental revisions in Singapore, in a…
Read MoreSheng Siong’s Q3 net profit up 12.6% on the back of higher revenue
SUPERMARKET chain Sheng Siong posted a 12.6 per cent increase in net profit to S$39.1 million for the third quarter ended Sep 30, from S$34.7 million the year before. Revenue grew 5 per cent year on year to S$363.2 million, driven by the opening of five new stores over the same period, Sheng Siong said…
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