Posts by Yurie Miyazawa
Singapore stocks fall as investors await Nvidia results; STI declines 0.2%
SINGAPORE equities were in the red on Wednesday (Aug 28), amid mixed regional performance. The benchmark Straits Times Index (STI) fell 0.2 per cent or 7.44 to 3,391.03 points. Across the broader market, losers beat gainers 295 to 226, as 1.1 billion shares worth S$882.8 million were traded across the day. Regional markets were varied.…
Read MoreMBS bans ex-top executive, now working for RWS, from premises for alleged poaching of high-rollers
RESORTS World Sentosa (RWS) chief casino officer Andrew MacDonald and another RWS executive have been banned from the premises of Marina Bay Sands (MBS) for reportedly trying to poach high-rollers, in what industry experts see as an unprecedented move. Both executives, who were former employees of MBS, were issued persona non grata notices which prohibit…
Read MoreLego CEO wants to copy Fortnite success with more game deals
LEGO is on the hunt for new digital partnerships, following the success of its Fortnite venture with Epic Games, which already reached 83 million people since the introduction, according to the toymaker’s chief executive officer. Lego needs to stay relevant for its users, which “are increasingly present digitally” to ensure they’ll continue to engage with…
Read MorePrudential’s H1 new business profit falls 1% to US$1.47 billion
Insurer attributes decline to high base effects in 2023 in many markets; excluding effect of interest rates and other economic impacts, new business profit is up 8% PRUDENTIAL’S new business profit – a measure of profitability for insurance businesses – fell 1 per cent to US$1.47 billion on an actual exchange rate basis for the…
Read MorePrudential H1 profit tumbles 81% to US$182 million
PRUDENTIAL’S net profit for the first half ended Jun 30 fell 81 per cent to US$182 million, from US$947 million in the previous corresponding period, on an actual exchange rate basis. Net profit would have fallen 80 per cent from US$924 million on a constant exchange rate basis. The insurer on Wednesday (Aug 28) attributed…
Read MoreBooming India primary market lures funds from pricey stocks
THE ongoing boom in new-share offerings in India has caught the fancy of global funds, who seem to be shunning the nation’s secondary market for its high valuations. Global funds net bought shares worth US$6.6 billion through initial public offerings (IPOs), preferential allotments and sales to large investors in 2024 so far, the highest since…
Read MoreWhat’re your brand and technology worth? New valuation guidelines being developed for intangible assets
Singapore valuers’ institute working with key international organisations; public views to be sought in H1 2025 BUSINESS valuers can look forward to more guidance on how to value non-physical assets such as brand value, intellectual property and technology in their valuation reports, through a new set of guidelines co-developed by Singapore’s business valuation body. The…
Read MoreGold holds ground near record high as rate-cut bets build
GOLD prices were little changed on Wednesday (Aug 28), but held near a record high hit last week on prospects of imminent US rate cuts and safe-haven demand fuelled by the Middle East crisis. Spot gold was flat at US$2,524.88 per ounce, as at 0033 GMT. Bullion hit a record high of US$2,531.60 on Aug…
Read MoreSingapore shares open lower on Wednesday; STI down 0.1%
SINGAPORE shares started trading in negative territory on Wednesday (Aug 28) despite overnight gains in global markets. As at 9.01 am, the Straits Times Index (STI) opened 0.1 per cent or 1.65 points lower at 3,396.82. Across the broader market, losers outnumbered gainers 51 to 48 after 25.9 million securities worth S$25.2 million changed hands.…
Read MoreStocks to watch: Keppel Infrastructure Trust, Wing Tai, Lum Chang
THE following companies saw new developments that may affect trading of their securities on Wednesday (Aug 28): Keppel Infrastructure Trust: It has issued 456.6 million new units at an issue price of S$0.438 apiece on Wednesday, representing the highest end of the price range indicated when it proposed its equity fundraising the day before. The…
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