Posts by Yurie Miyazawa
Philippine business buoys Jollibee profit as China pain persists
JOLLIBEE Foods’s Philippine businesses boosted the fast-food chain’s second-quarter profit, even as it struggled with its operation in China. Net income of the Philippines’ biggest restaurant operator jumped 31 per cent from a year ago to three billion pesos (S$69.5 million) during the period, the company said on Wednesday (Aug 14). Revenue rose 10.6 per…
Read MoreGold prices steady as US inflation data takes centre stage
GOLD held steady on Wednesday (Aug 14) as soft US producer prices reinforced hopes of an imminent interest rate cut, while trader focus shifted to US inflation print due later in the day for clues on the Federal Reserve’s next policy move. Spot gold held its ground at US$2,465.27 per ounce, as at 0158 GMT.…
Read MoreKeppel’s unit enters JV to manage cooling sector in Thailand
This includes the design, installation, operation, and maintenance of the systems within the country KEPPEL Infrastructure Holdings, through its unit Keppel EaaS in Thailand (KET), has entered into a joint venture (JV) with Combined Heat and Power Producing (CHPP) for the provision of comprehensive energy-as-a-service (EaaS) within the cooling sector in Thailand. This includes the design,…
Read MoreSingapore shares rise at Wednesday’s open; STI up 0.7%
SINGAPORE shares opened higher on Wednesday (Aug 14), after US and Europe indices rallied overnight. The Straits Times Index (STI) rose 0.7 per cent or 21.58 points to 3,280.15 as at 9.01 am. Across the broader market, gainers outnumbered losers 80 to 38, after 42.5 million securities worth S$56.1 million changed hands. Soilbuild Construction Group…
Read MoreOlam H1 profit inches up 0.2% at S$48 million
AGRI-FOOD giant Olam Group on Wednesday (Aug 14) reported a net profit of S$48.03 million for the first half-year, inching up 0.2 per cent from S$47.96 million in the year-ago period. Earnings per share stood at S$0.0084, unchanged from the previous corresponding period. An interim dividend of S$0.03 per share was declared for the…
Read MoreStocks to watch: CapitaLand Investment, ST Engineering, Wilmar, City Developments: Olam
THE following companies saw new developments that may affect trading of their securities on Wednesday (Aug 14): CapitaLand Investment (CLI): The real asset manager’s profit for the six months ended Jun 30, 2024, fell 6 per cent year on year to S$331 million, from S$351 million the year before. On Wednesday, CLI said its stronger…
Read MoreCancer test maker Grail cuts 350 jobs as part of restructuring programme
GRAIL said on Tuesday (Aug 13) it has cut about 350 existing jobs as the diagnostics company focuses on the development of its flagship cancer-detection test Galleri, sending its shares up more than 11 per cent in extended trading. The company, which listed its shares on the Nasdaq after being spun out of gene sequencing…
Read MoreUS: Stocks close higher after favourable producer inflation data
US STOCKS closed higher on Tuesday (Aug 13) as traders responded positively to cooler-than-expected producer inflation data, bolstering expectations of a Federal Reserve interest rate cut. The producer price index (PPI) rose by 0.1 per cent in July, down slightly from a month earlier, the Labor Department said. The data will likely be well-received by…
Read MoreOng Beng Seng’s Hotel Properties trims H1 loss to S$4.9 million
Revenue increase comes amid better performance from hotels and resorts, new opening HOTEL Properties (HPL), the real estate player owned by tycoon Ong Beng Seng, on Tuesday (Aug 13) reported a net loss of S$4.9 million for the half year ended Jun 30, narrowing from a loss of S$17.2 million in the corresponding year-ago period.…
Read MoreStreaming cushions Tencent Music’s second quarter revenue fall
CHINA’S Tencent Music Entertainment reported a smaller than expected fall in quarterly revenue on Tuesday (Aug 13), cushioned by an increase in paying subscribers at its music streaming platforms. The Tencent Holdings-controlled company said revenue fell 1.7 per cent to 7.16 billion yuan (S$1.3 billion) in the three months ended Jun 30, the fourth straight…
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