Posts by Yurie Miyazawa
Olam Agri obtains US$550 million loan facility
OLAM Group’s indirect 64.6 per cent-owned subsidiary, Olam Agri, has secured a loan facility of US$550 million (S$743.7 million), said the group on Tuesday (Jun 25). The revolving credit facility, which has a tenor of three years, was obtained by Olam Agri’s subsidiaries, Olam Global Agri and Olam Global Agri Treasury. Proceeds from the…
Read MoreCity Developments takes out S$400 million sustainability-linked loan from DBS
CITY Developments (CDL) has secured a S$400 million sustainability-linked loan from DBS to advance nature conservation and sustainable development in Singapore. On Tuesday (Jun 25), both parties said the loan marks the first of its kind with criteria guided by targets set by CDL in its adoption of the Taskforce on Nature-related Financial Disclosures (TNFD)…
Read MoreJasper Investments to acquire marine engineering company with additional S$13 million fundraise
JASPER Investments announced that it has agreed to acquire a 51 per cent stake in Prosper Excel Engineering for S$7.5 million. The acquisition will be funded by proceeds from the marine player’s larger fundraising and debt capitalisation exercise, the company said on Tuesday (Jun 25). The proposed acquisition aims to “tap on the core strengths”…
Read MoreCharting big tech’s US$70 billion spending spree in South-east Asia
A WHIRLWIND tour of Malaysia, Singapore, and Vietnam all in less than a week. Sounds like the tour schedule of BTS or another K-pop supergroup? Well, this was the trip taken by Nvidia co-founder and CEO Jensen Huang in South-east Asia late last year to discuss investment deals for the chipmaker in the region. Huang…
Read MoreFearing losses, banks are quietly dumping real estate loans
SOME Wall Street banks, worried that landlords of vacant and struggling office buildings won’t be able to pay off their mortgages, have begun offloading their portfolios of commercial real estate loans hoping to cut their losses. It’s an early but telling sign of the broader distress brewing in the commercial real estate market, which is hurting…
Read MoreStocks to watch: OCBC, Great Eastern, SingPost, Best World, Cordlife
THE following companies saw new developments that may affect trading of their securities on Tuesday (Jun 25): OCBC, Great Eastern: OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, said the lender. But no delisting is in sight as the bank’s offer for its insurance subsidiary has been…
Read MoreApple spurned idea of iPhone AI partnership with Meta months ago
APPLE rejected overtures by Meta Platforms to integrate the social networking company’s artificial intelligence (AI) chatbot into the iPhone months ago, according to sources with knowledge of the matter. The two companies are not in discussions about using Meta’s Llama chatbot in an AI partnership and only held brief talks in March, said the sources,…
Read MoreNvidia enters correction territory as slump erases US$430 billion
NVIDIA shares entered correction territory on Monday (Jun 24), as an ongoing sell-off erased a historic amount of value for the artificial intelligence (AI) focused chipmaker. The stock fell 6.7 per cent, its third straight negative session and the biggest one-day percentage drop since April. The three-day drop erased about US$430 billion from Nvidia’s market…
Read MoreEurope: Shares start the week higher on autos, banks
EUROPEAN equities advanced on Monday, led by gains in automobile and financial stocks, while investor attention focused on the first round of French parliamentary elections later this week. The Europe-wide Stoxx 600 closed up 0.7 per cent, slightly below a nearly two-week high hit earlier in the session. Banks rose 1.7 per cent to lead…
Read MoreChina’s Fosun to buy out Henlius Biotech, values it at HK$13.37 billion
CHINESE conglomerate Fosun International will buy the remaining stake in Shanghai Henlius Biotech that it does not already own in a deal that values the Hong Kong-listed drugmaker at HK$13.37 billion (S$2.3 billion), the companies said on Monday (Jun 24). Fosun International, through its unit Shanghai Fosun Pharmaceutical, is offering HK$24.60 per Henlius share, which…
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