Posts by Yurie Miyazawa
Singapore restaurants warn of losses amid challenging business environment
CATALIST-listed restaurant groups Tung Lok Restaurants and Japan Foods Holding (JFH) separately issued profit warnings on Friday (Oct 25), underscoring the challenges that restaurant operators are facing. The food businesses warned that they expect to incur net losses for the half-year ended Sep 30, 2024, with both noting the challenging economic environment. They did not…
Read MoreBrokers’ take: RHB raises ISOTeam target price on strong order book, positive outlook
RHB raised its target price for building maintenance company ISOTeam to S$0.07 from S$0.048, while maintaining its “buy” call on the counter. This comes as the research house maintains its positive earnings outlook for ISOTeam, given its strong order book performance and higher-than-expected earnings for FY2024. RHB believes the group’s order book, which stood at…
Read MoreStocks to watch: MPACT, Frasers Centrepoint Trust, Suntec Reit, CapitaLand India Trust
THE following companies saw new developments that may affect trading of their securities on Friday (Oct 25): Mapletree Pan Asia Commercial Trust (MPACT): Its distribution per unit (DPU) fell 11.6 per cent to S$0.0198 for the second quarter ended Sep 30, from S$0.0224 in the previous corresponding period. The decline came amid reduced contribution…
Read MoreUS leveraged loan sales hit record US$986 billion in repricing run
COMPANIES have issued a record US$986 billion of debt in the US leveraged loan market this year, mostly to cut interest expense on existing debt. That figure surpassed 2017 as the busiest year for new issuance, according to Bloomberg-compiled data going back to 2013. Most of this year’s volume has come from companies refinancing current…
Read MoreAmerican Airlines lifts profit view on higher pricing, sales strategy correction
The airlines’ pricing power has also improved as the industry cuts down excess capacity in the domestic market American Airlines lifted its annual profit forecast on Thursday (Oct 24), recovering from the missteps in its sales strategy that had led to an exodus of corporate clients and on improved pricing power. The airline’s move to…
Read MoreMPACT’s Q2 DPU falls 11.6% to S$0.0198 amid mixed overseas sentiments
MAPLETREE Pan Asia Commercial Trust’s (MPACT) distribution per unit (DPU) fell 11.6 per cent to 1.98 Singapore cents for its second quarter ended Sep 30, from 2.24 cents the year before. Gross revenue was down 6.1 per cent year on year to S$225.6 million, from S$240.2 million. Net property income (NPI) fell 8.5 per cent…
Read MoreIndia’s Adani Wilmar posts profit in Q2 on higher demand for edible oils
INDIA’S Adani Wilmar reported a profit for the second quarter on Thursday (Oct 24), buoyed by higher demand for its edible oils and food segments. The company reported a consolidated net profit of 3.11 billion rupees (S$48.8 million) for the quarter ended Sep 30, compared to a loss of 1.31 billion rupees an year ago. …
Read MoreSTI bucks regional rout after eking out a 0.1% gain
Across the broader market, decliners beat gainers 313 to 217 amid a trading volume of 1.3 billion securities worth S$1.1 billion SINGAPORE’S 30-blue-chip barometer, the Straits Times Index (STI), was spared the rout in most regional markets on Thursday (Oct 24) after Wall Street closed in the red overnight. The benchmark was 0.1 per cent…
Read MoreNvidia deepens Indian tie-ups, rolls out Hindi-language AI model
CHIP behemoth Nvidia expanded tie-ups on Thursday (Oct 24) with India’s big firms, such as Reliance Industries, and launched a lightweight artificial intelligence (AI) model for the widely-used Hindi language, as it looks to tap a growing market. The company is hosting an AI summit in the business capital of Mumbai, at which chief executive…
Read MoreArta Finance partners Temasek Trust’s Co-Axis to unlock US$30 million catalytic funding for impact projects
THE digital impact marketplace launched by Temasek Trust, Co-Axis, has partnered digital wealth platform Arta Finance to secure US$30 million for projects over two years. The partnership will extend the reach of Co-Axis projects, which all align with United Nations Sustainable Development Goals, allowing them to leverage Arta’s clientele of high- and ultra-high-net-worth individuals and…
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