Posts by Yurie Miyazawa
Cordlife reverses into red with S$12.4 million H1 loss, loses accreditation with blood banking body
EMBATTLED cord-blood bank Cordlife Group on Thursday (Aug 15) posted a net loss of S$12.4 million for the six months ended Jun 30, compared to a net profit of S$2.2 million year on year. This came as revenue fell 67.5 per cent to S$9.2 million from S$28.3 million in the previous corresponding period, largely due…
Read MoreJack Ma-backed Ant sees profit slide 10% after shakeup
Ant Group’s profit dropped 10 per cent in the March quarter, following a structural shakeup and ramped up efforts to grow overseas. The Hangzhou-based fintech company contributed 3.9 billion yuan (S$717.7 million) of profit to Alibaba Group Holding. Based on Alibaba’s one-third stake in Ant, that translates to an estimated 11.7 billion yuan in…
Read MorePositive economic figures from China, Japan lift regional markets; STI up 0.9%
SINGAPORE shares rose on Thursday (Aug 15) amid strong retail sales and gross domestic product data from China and Japan, respectively. The benchmark Straits Times Index (STI) rose 0.9 per cent or 29.45 points to 3,315.73. Across the broader market, gainers beat losers 314 to 263 after one billion securities worth S$1.3 billion were traded.…
Read MoreGlobal rush for Thai debt may cool on BOT policy, political risk
Foreign investors may start shying away from Thailand’s sovereign bonds as the prospect of a tighter monetary policy compared with peers and rising political risk in the country reduces their attractiveness. That would mark a turnaround in sentiment after global funds ploughed in US$1.7 billion into Thai bonds this quarter, the most since 2022, making…
Read MoreMalaysia’s minimart chain 99 Speed Mart launches biggest IPO in 7 years
[KUALA LUMPUR] Convenience store chain operator 99 Speed Mart Retail launched Malaysia’s biggest initial public offering (IPO) in seven years, which is expected to raise up to RM2.36 billion (S$701 million) for its Main Market listing. The IPO comprises up to 1.03 billion existing shares and 400 million new shares, priced at RM1.65 per share.…
Read MoreMalaysia’s 99 Speed Mart unveils RM2.4 billion IPO, the country’s biggest in 7 years
[KUALA LUMPUR] Major mini-market chain operator 99 Speed Mart Retail on Thursday (Aug 15) launched Malaysia’s biggest initial public offering (IPO) in seven years. It expects to raise up to RM2.36 billion (S$701 million) for a place in the main market. The last time the country witnessed an IPO of this size was in 2017,…
Read MoreBritain to trial use of drones in deliveries, emergency services
BRITAIN’S aviation regulator has selected six projects, including one by e-commerce giant Amazon, to test the use of drones in deliveries, inspection of infrastructure and emergency services, it said on Thursday (Aug 15). The UK’s Civil Aviation Authority (CAA) had said earlier this year that it wanted to permit more drone flying for such uses. …
Read MoreBerkshire invests in Ulta Beauty, Heico as it retreats from Apple
WARREN Buffett’s Berkshire Hathaway acquired stakes in cosmetics store chain Ulta Beauty and aircraft parts maker Heico during the second quarter when it also nearly halved its huge stake in Apple. Berkshire owned about 690,000 Ulta Beauty shares worth US$266.3 million and 1.04 million Heico shares worth US$185.4 million as at Jun 30, according to…
Read MoreTemasek spent billions on US tech stocks before July sell-off
SINGAPOREAN state-owned investor Temasek Holdings spent billions of US dollars in the second quarter buying shares in US technology giants, just before the sector dropped in July. Temasek increased the value of its holdings in 11 big tech firms by US$3.3 billion in the three months ended Jun 30, according to an analysis of its…
Read MoreSingtel Q1 net profit up 42.9% to S$690 million on exceptional gain
SINGTEL reported on Thursday (Aug 15) that its net profit for the first quarter ended Jun 30, rose 42.9 per cent to S$690 million, from S$483 million in the corresponding year-ago period. The increase was mainly attributed to a net exceptional gain of S$88 million, compared to a net exceptional loss of S$88 million in…
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