Posts by Yurie Miyazawa
UK’s Mulberry to evaluate sweetened Frasers’ bid
BRITISH luxury brand Mulberry said on Monday (Oct 14) it is working with advisers to evaluate Frasers’ sweetened £111 million (S$189.3 million) takeover proposal, after its top investor Challice declined to sell shares to the sportswear retailer. Mulberry’s top investor Challice has declined to sell shares to Frasers, which last week sweetened the takeover bid. …
Read MoreLVMH investors jittery over anaemic China demand for European designer goods
INVESTORS in French luxury group LVMH are eager for signs that China’s new fiscal stimulus measures can finally pull wealthy and middle-class Chinese shoppers out of their funk, inspiring them to splash out on US$4,300 designer leather handbags ahead of Singles Day, China’s largest annual shopping spree. Global luxury bellwether LVMH, whose portfolio spans Louis…
Read MoreHot stock: Yangzijiang Shipbuilding’s shares fall following announcement of arbitration proceedings
The first tranche of arbitration hearings against the China-based shipbuilder’s units is scheduled for November 2024 SHARES of Yangzijiang Shipbuilding tumbled on Monday (Oct 14) morning, after the China-based shipbuilder announced in a regulatory filing on Saturday that arbitration proceedings had been filed in London two years ago against three of its units over the…
Read MoreSasseur Reit hits record 276.1 million yuan Golden Week sales as China’s domestic consumption surges
Sasseur Real Estate Investment Trust’s (Sasseur Reit) manager reported record-high aggregate sales of 276.1 million yuan (S$51 million) across its four outlets in China over the seven-day Golden Week holidays from Oct 1 to 7, in a filing with the Singapore Exchange on Monday (Oct 14). The sales amount is inclusive of non-Reit shop units…
Read MoreFugitive tycoon behind HHSC’s shady fundraising network held in Bali
THE fugitive Chinese businessman behind Shanghai HHSC Capital Management, an insolvent investment firm that left a 30 billion yuan (S$5.5 billion) financial black hole, has been arrested by Indonesian authorities and handed over to Interpol. Lin Qiang, chairman and controlling shareholder of HHSC, was detained shortly after arriving in Bali, according to a briefing by…
Read MoreAustralia’s TPG Telecom to sell fibre, fixed assets to Vocus for A$5.25 billion
TPG Telecom will sell its fibre and fixed network infrastructure assets including broadband provider Vision Network to Macquarie and pension fund Aware Super-owned telecommunications group Vocus for A$5.25 billion (S$4.6 billion). Under the deal, Vocus will acquire TPG’s enterprise, government and wholesale (EGW) fixed business and fibre network assets while the Australian telecom operator on…
Read MoreChina puts investor patience to test as briefing underwhelms
CHINA’S highly anticipated Finance Ministry briefing on Saturday (Oct 12) lacked the firepower that equity investors had hoped for, indicating that the volatility that’s gripped the market following a world-beating rally will likely extend. While Finance Minister Lan Fo’an promised more support for the struggling property sector and hinted at greater government borrowing to shore…
Read MoreStellantis CEO says tax hikes in France will hurt investment
STELLANTIS chief executive officer Carlos Tavares said plans by France to raise corporate taxes will hurt investment. “We are doing a short-term choice that will penalise the medium term,” Tavares said on Sunday. The planned corporate tax hike will be in the “double digit” millions of euros for the automaker, he added, declining to give…
Read MoreSabana Reit better off if major unitholders not represented on board of new internal manager
Would-be directors should commit to purchasing S$1 million worth of units in the market to align interest with unitholders UNITHOLDERS of Sabana Industrial Real Estate Investment Trust (Sabana Reit) are to vote at yet another extraordinary general meeting (EGM) on Friday (Oct 18). This time, the matter at hand is the appointment of directors to…
Read MoreTikTok slashes hundreds of jobs in AI shift
SOCIAL media platform TikTok said it will slash hundreds of jobs, with a significant number of employees in Malaysia expected to be affected, as the company shifts to AI-assisted content moderation. TikTok, owned by China-based ByteDance, said Friday (Oct 11) it would cut several hundred jobs around the world, without providing a breakdown by country.…
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