Posts by Yurie Miyazawa
MMC Port said to be weighing mega Malaysia IPO valued at up to RM27 billion
It runs seven ports along the Strait of Malacca, one of the world’s busiest shipping lanes MMC Port Holdings has been considering an initial public offering (IPO) in Kuala Lumpur that could raise as much as RM7 billion (S$2.1 billion), sources said, which would make it the biggest in Malaysia in more than a decade.…
Read MoreMMC Port said to be weighing mega Malaysia IPO valued at up to RM7 billion
It runs seven ports along the Strait of Malacca, one of the world’s busiest shipping lanes MMC Port Holdings has been considering an initial public offering (IPO) in Kuala Lumpur that could raise as much as RM7 billion (S$2.1 billion), sources said, which would make it the biggest in Malaysia in more than a decade.…
Read MoreBrokers’ take: Maybank raises Sea’s target price to US$110 on higher earnings estimate
MAYBANK Securities has raised its target price for the Internet company Sea by 15 per cent to US$110, from US$96 previously, while reiterating its “buy” call on the counter. The research house forecasts that Sea will achieve its margin targets sooner than previously expected as e-commerce competition remains benign, which will drive monetisation initiatives and…
Read MoreTSMC’s third-quarter revenue easily beats market forecast
TAIWAN Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, reported on Wednesday (Oct 9) third-quarter revenue that easily beat both the market and the company’s own forecasts as it reaped the benefit from artificial intelligence (AI) demand. TSMC, whose customers include Apple and Nvidia, has been at the forefront of the march towards AI…
Read MoreOK Lim has accepted judgement debt of over US$3.5 billion, but creditors will likely claw back much less
The 82-year-old and his children, Evan Lim and Lim Huey Ching, are planning to file for bankruptcy EMBATTLED Hin Leong Trading founder Lim Oon Kuin – the former Singapore oil tycoon better known as OK Lim – and his children, Evan Lim and Lim Huey Ching, have accepted the demands of the company’s court-appointed liquidators…
Read MoreBoeing withdraws contract offer as union talks break down
TALKS between Boeing and its largest union to end an almost monthlong strike collapsed for a third time, extending a shutdown of the planemaker’s key commercial manufacturing base on the US west coast. Both the embattled planemaker and the International Association of Machinists and Aerospace Workers (IAM) blamed each other for the impasse, following two…
Read MoreBOS sees rising ‘non-dom’ flows from UK to Singapore
OCBC’s private bank plans to grow its business in Europe to capture more asset flows from wealthy people in the UK as the British government mulls raising some taxes on them, according to a senior executive. Bank of Singapore (BOS) sees the city-state attracting more of these flows from so-called “non-doms”, Ranjit Khanna, the firm’s…
Read MoreNew Zealand steps up pace of rate cuts as economy weakens
NEW Zealand’s central bank cut interest rates by half a percentage point, stepping up the pace of easing as policymakers become more concerned about the economic slowdown. The Reserve Bank of New Zealand’s (RBNZ) Monetary Policy Committee lowered the Official Cash Rate (OCR) to 4.75 per cent from 5.25 per cent on Wednesday (Oct 9)…
Read MoreDigital Core Reit recasts US$716 million loan facilities
PURE-PLAY data centre real estate investment trust (Reit) Digital Core Reit has recast US$716 million of loan facilities which will be used to refinance its existing US$703 million term loan and multicurrency revolving credit loan facilities. The recast loan facilities will also be used for working capital and other general corporate purposes, the Reit manager…
Read MoreRBA to boost risk assessment when deploying unconventional tools
AUSTRALIA’S central bank will strengthen its assessment of potential risks when deploying an unconventional monetary policy, assistant governor Christopher Kent said following a review of a cheap lending programme for banks introduced during the coronavirus pandemic. The Term Funding Facility (TFF), under which the Reserve Bank of Australia (RBA) provided credit for three years at…
Read More