Posts by Yurie Miyazawa
Carlsberg to take control of India and Nepal business, eyes expansion
CARLSBERG has agreed to take full control of its business in India and Nepal, the Danish brewer said on Friday (Aug 2). The group will buy a 33.33 per cent stake in Carlsberg South Asia (CSAPL) from partner CSAPL (Singapore) Holdings as well as other stakes in underlying companies for a total of US$744 million,…
Read MoreGreat Eastern gets extension to restore free float by Oct 23
GREAT Eastern Holdings (GEH) has been granted nearly three months to explore options to restore its public float, which dropped below 10 per cent in June. The Singapore Exchange (SGX) has given the insurer until Oct 23 to do so, GEH said on Friday (Aug 2). It had sought approval from SGX for a time…
Read More7-Eleven operator DFI Retail wants a big bite of ready-to-eat food
The operator of 7-Eleven in Singapore, Hong Kong, Macau and Southern China says growth in the ready-to-eat food arena can make up for fall in cigarette sales WITH DFI Retail Group’s top line stubbed by declining cigarette sales, group chief executive Scott Price is eyeing a growing appetite for ready-to-eat food – which he believes…
Read MoreBooking’s soft forecast overshadows second-quarter earnings beat
BOOKING, the parent company to almost a dozen travel brands including Kayak and Priceline, delivered a disappointing forecast for the third quarter, even as it posted second-quarter results that mostly beat analysts’ expectations. In the current quarter, Booking expects growth of 3 per cent to 5 per cent in room nights sold, chief financial officer…
Read MoreHow scoring for the Singapore governance index is done
THE Singapore Governance and Transparency Index (SGTI) is a joint initiative by CPA Australia, the National University of Singapore Business School’s Centre for Governance and Sustainability (CGS), and the Singapore Institute of Directors. The Business Times is the project’s strategic media partner. The objective of the SGTI is to evaluate listed companies, including real estate…
Read MoreJardine Matheson posts 33% fall in underlying net profit to US$550 million
JARDINE Matheson Holdings (JMH) on Thursday (Aug 1) posted a US$550 million underlying net profit for the six months ended June, down 33 per cent from the year-ago period. It kept its interim dividend unchanged from a year ago at US$0.60 per share. “The group delivered weaker results in the first half of 2024, impacted…
Read MoreIndonesia says Jiangsu Delong debt woes not affecting local operation
CHINESE stainless steelmaker Jiangsu Delong Nickel Industry assured Indonesia said its potential bankruptcy reorganisation has had no impact on its Indonesia operation so far and the firm will prioritise business stability, a government official told Reuters on Thursday (Aug 1). A court in China is considering whether to proceed with bankruptcy reorganisation for Jiangsu Delong,…
Read MoreModerna cuts 2024 sales forecast, sees low EU vaccine revenue into 2026
MODERNA on Thursday (Aug 1) cut its 2024 sales forecast for Covid-19 and respiratory syncytial virus vaccines by up to 25 per cent, or US$1 billion, due partly to low Covid sales to the EU that it expects to continue into 2026. The vaccine maker’s shares plunged more than 15 per cent to US$101.01, taking…
Read MoreDisney plans a new round of job cuts in its television operation
WALT Disney is planning a fresh round of job cuts in its TV division, part of an effort to reduce costs in a shrinking part of its business, according to people with knowledge of the matter. The company is eliminating about 140 jobs, or about 2 per cent of staff at Disney Entertainment Television, said…
Read MoreJapan’s Nissan, Honda to research software platform together
JAPANESE automakers Nissan Motor and Honda Motor agreed to conduct joint research into technologies for a next-generation software platform, they said in a joint statement on Thursday (Aug 1). The companies also signed a memorandum of understanding to deepen the strategic partnership they announced in March, pledging to cooperate in areas such as batteries, e-axles…
Read More