Posts by Yurie Miyazawa
Sliver of hope for Singapore IPO market as karaoke chain, interior decoration firm mull Catalist listings
SINGAPORE’S barren spell for initial public offerings (IPOs) could come to an end, as two companies in late September lodged their preliminary offer documents for listing on the Catalist board of the Singapore Exchange (SGX). This offers a sliver of hope for Singapore’s equities market, which is the worst-performing market in South-east Asia for IPOs…
Read MoreBank Indonesia says it’s ready to intervene after rupiah slump
INDONESIA’S central bank said it’s ready to step in to support the rupiah that’s in its longest losing streak since 2023. Bank Indonesia (BI) is prepared to intervene in the spot, domestic non-deliverable forwards and bond markets to maintain the balance of currency supply and demand, said Edi Susianto, executive director for monetary management. Susianto’s…
Read MoreChina’s gold reserves unchanged for fifth straight month in September
CHINA’S central bank held back on buying gold for its reserves for a fifth straight month in September, official data showed on Monday (Oct 7), mainly due to a surge in prices for the yellow metal. China’s gold holdings stood at 72.8 million troy ounces at the end of last month. The value of the…
Read MoreSamsung’s profit recovery seen weakening in Q3
SAMSUNG Electronics is expected to flag more than a four-fold jump in quarterly profit on Tuesday (Oct 8) on improving demand for chips, but the pace of its recovery is weakening, as it is slow to cash in on the artificial intelligence (AI) boom. Operating profit for Samsung, the world’s top maker of memory chips,…
Read MoreSingapore shares open higher on Monday; STI up 0.6%
SINGAPORE stocks began Monday (Oct 7) trading in positive territory, mirroring weekend gains in overseas markets. As at 9.01 am, the Straits Times Index (STI) rose 0.6 per cent or 20.59 points to 3,609.72. Across the broader market, gainers outnumbered losers at 83 to 31 after 39.5 million securities worth S$34 million changed hands. Offshore…
Read MoreRio Tinto makes approach for US$3.3 billion Arcadium Lithium
RIO Tinto, the world’s second-largest miner, confirmed it has made a non-binding takeover approach for Arcadium Lithium. Rio said there was no certainty that any transaction will be agreed with the US miner, on Monday (Oct 7). Arcadium, which is valued at around US$3.3 billion, confirmed it had been approached. The companies did not provide…
Read MoreQuebec pension fund says it’s ready to back Couche-Tard in 7-Eleven quest
A SENIOR executive at Quebec’s public pension manager said the fund will likely provide financial backing to Alimentation Couche-Tard if it moves ahead with a takeover bid for Seven & i Holdings, the parent of the 7-Eleven chain. “Couche-Tard knows that we will always accompany them in these endeavours if necessary,” Vincent Delisle, head of…
Read MoreVolkswagen CEO sees threat of retaliatory tariffs from China: report
VOLKSWAGEN chief executive officer Oliver Blume hopes for an alternative solution to tariffs on Chinese electric vehicles (EVs) as he braces for potential retaliation from Beijing, Bild am Sonntag reported. “Possible punitive tariffs would be particularly risky for the German automotive industry,” Blume told the Berlin-based newspaper. “We would face significant disadvantages in the Chinese…
Read MoreBeng Kuang Marine strips non-core business units, pivots to asset-light model to chart turnaround
It has shuttered its ship chartering, hardware distribution and bottled water supply businesses WHEN a live cattle carrier owned by Beng Kuang Marine was detained in Indonesian waters, chief executive officer Yong Jiunn Run thought it seemed like the right time to call it a day for the ship chartering business. At the time, in…
Read MoreChina stock scepticism gets louder as world-beating run extends
The world-beating rally in Chinese stocks is failing to convince many global fund managers and strategists. Invesco, JPMorgan Asset Management, HSBC Global Private Banking and Wealth, and Nomura Holdings are among those viewing the recent rebound with scepticism and waiting for Beijing to back up its stimulus pledges with real money. Some are also concerned…
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