Posts by Yurie Miyazawa
Siemens profit beats market view on software but outlook remains guarded
SIEMENS beat quarterly earnings forecasts on Thursday (Aug 8), helped by demand for electricity infrastructure and production software, but warned some customers were hesitant to invest amid uncertainty over borrowing costs. The technology group reported an 11 per cent increase in adjusted operating profit to three billion euros (S$4.3 billion) for April-to-June quarter, its fiscal…
Read MoreHong Leong Finance H1 net profit up 12.9% to S$52.6 million on higher net interest income
HONG Leong Finance posted a 12.9 per cent rise in net profit to S$52.6 million for the half year ended Jun 30, from S$46.6 million in the same period a year ago. This was driven by higher net interest income, as net interest margin expanded to 1.6 per cent, from 1.48 per cent in the…
Read MoreSingaporean David Yong from Netflix’s Super Rich In Korea faces more fraud charges, denied bail
SINGAPOREAN businessman David Yong was on Thursday (Aug 8) handed two new charges over falsifying accounts in relation to a promissory note arrangement involving Evergreen Group Holdings. The 37-year-old chief executive of Evergreen Group Holdings, whose full name is Yong Khung Lin, is accused of having the intention to defraud by abetting his employee Jolene…
Read MoreTokyo Electron ups forecast after AI demand helps sales beat
TOKYO Electron raised its profit forecast for the fiscal year to March after reporting a better-than-expected surge in sales. The Japanese provider of semiconductor-patterning systems said it sees operating profit for the full year reaching 627 billion yen (S$5.7 billion), up 8 per cent from its previous guidance. Citing “strong growth trends from the previous…
Read MoreSGX will represent broader views in MAS review group: CEO
THE review group set up by the regulator to improve Singapore’s stock market will engage a wider group beyond its own members, said Loh Boon Chye, the chief executive officer of the Singapore Exchange (SGX) Group. Currently, the review group includes a representative from SGX, as well as other public and private sector representatives. But…
Read MoreStocks to watch: DBS, SGX, Frasers Property, Sasseur Reit
THE following companies saw new developments that may affect trading of their securities on Thursday (Aug 8):
Read MoreShopify beats estimates for quarterly results on AI boost, shares soar
SHOPIFY beat analysts’ estimates for second-quarter results and forecast upbeat sales growth as its AI-enabled tools attracted more merchants to its e-commerce services, sending its US shares up 17 per cent before the bell on Wednesday (Aug 7). The Canadian company, which helps small and medium businesses build an online store as well as…
Read MoreShopify soars as AI focus powers quarterly beat, bullish forecast
SHOPIFY beat analysts’ estimates for second-quarter results and forecast upbeat sales growth on Wednesday (Aug 7) as its AI-enabled tools attracted more merchants to its e-commerce services, sending its shares up more than 20 per cent. The Canadian company, which helps small and medium businesses build an online store as well as sell, has been…
Read MoreStrong fees, more resiliency will boost earnings in 2024 despite rising uncertainty: DBS CEO
Bank reports strong set of results in Q2 with net profit up 6% on year at S$2.79 billion A STRONG fees business and lower sensitivity to interest rates will likely help support earnings growth at DBS in 2024, said chief executive Piyush Gupta. The bank also has strong buffers against economic slowdown, even as market…
Read MoreIntel has lost Wall Street’s patience as headwinds keep mounting
AFTER another catastrophic earnings report, Intel bulls are increasingly few and far between on Wall Street. Intel shares have shed nearly a third of their value since the firm gave a grim growth forecast, announced plans to slash 15,000 jobs, and suspended a dividend that has been in place since 1992. The report was the…
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