Posts by Yurie Miyazawa
DBS says it raised flags over embattled Bangladesh lawmaker
DBS Group said it raised flags about a former lawmaker in Bangladesh who had amassed a US$265 million real estate empire and reportedly borrowed money from the Singapore bank. The bank made 19 loans to former Land Minister Saifuzzaman Chowdhury, who has come under fire for his array of properties from London to New York,…
Read MoreVietnamese EV maker VinFast reports wider sequential gross loss
VIETNAMESE electric-vehicle maker VinFast reported a deeper second-quarter loss on Friday (Sep 20), driven by rising costs linked to its ambitious Asia expansion, although its revenue remained on a rising trend, according to its exchange filing. VinFast, which started delivering cars in California last year, reported a gross loss of US$224 million in the April-to-June…
Read MoreIndonesia’s Barito Renewables tumbles after FTSE Index removal
BARITO Renewables Energy tumbled by its daily limit after FTSE Russell said it would delete the Indonesian power giant from its indices a day after the anticipated entry date. The decision comes after the index compiler cited “high shareholder concentration” for the US$78 billion geothermal power company, adding that four shareholders control 97 per cent…
Read MoreSingapore shares decline despite regional rally; STI down 0.2%
SINGAPORE stocks ceded some of the gains that they made this week as investors appeared to take profit on Friday (Sep 20). The Straits Times Index (STI) fell 0.2 per cent or 8.42 points to 3,624.76. Across the broader market, gainers beat losers 294 to 274 after 1.7 billion securities worth S$2.3 billion changed hands. On the…
Read MoreTech giants push to dilute Europe’s AI Act
THE world’s biggest technology companies have embarked on a final push to persuade the European Union to take a light-touch approach to regulating artificial intelligence as they seek to fend off the risk of billions of US dollars in fines. EU lawmakers in May agreed the AI Act, the world’s first comprehensive set of rules…
Read MoreLazada-backed TNG Digital eyes Malaysian IPO over next two to three years: sources
MALAYSIA’S largest fintech company TNG Digital is looking at a potential domestic initial public offering (IPO) over the next two to three years that could raise over US$300 million, two sources with knowledge of the matter said. TNG Digital could potentially fetch the valuation of a unicorn – a startup with a market value of…
Read MoreMoneyHero slashes Q2 loss to US$12.2 million on higher revenue
NASDAQ-LISTED MoneyHero reported a net loss of US$12.2 million for the second quarter ended Jun 30, narrowing from a loss of US$68.6 million in the year-ago period. This was attributed to “investments in strategically expanding customer acquisition, brand building, technology re-platforming and data infrastructure”, said chief financial officer Hao Qian in a statement on Friday…
Read MoreCTBC is said to consider pulling out of Shin Kong takeover battle in Taiwan
CTBC Financial Holding is set to decide against a fresh offer for Shin Kong Financial Holding, according to sources familiar with the situation, paving the way for rival Taishin Financial Holding to move ahead with one of the biggest combinations in Taiwan’s financial industry in years. CTBC is poised to walk away from the takeover…
Read MoreBank of Japan leaves key interest rate unchanged
THE Bank of Japan left interest rates unchanged on Friday, after a decision to hike them in July pushed the yen sharply higher and fuelled turmoil across world markets. Two days after the US Federal Reserve slashed rates for the first time since the start of the pandemic, the BoJ’s stasis came as data showed…
Read MoreChina’s banks maintain key lending rates as PBOC stays on pause
CHINESE banks maintained their benchmark lending rates for September, as policymakers hold off on further monetary stimulus while financial institutions struggle with record-low profit margins. The one-year loan prime rate (LPR) will stay at 3.35 per cent and the five-year rate, a reference for long-term credit including mortgages, remains at 3.85 per cent, according to…
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