Posts by Yurie Miyazawa
OCBC garners over 90% of Great Eastern’s shares; trading in insurer to suspend at close of offer
As the number of the insurer’s shares held by the public is now below 10%, the counter will be suspended from trading after the offer closes on Jul 12 OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, the bank announced on Monday (Jun 24). However, no delisting is…
Read MoreFoxconn to invest US$383 million in Vietnam circuit board plant: state media
FOXCONN Singapore has been awarded a licence to invest US$383 million in a factory to produce printed circuit boards in Vietnam, state media reported on Monday (Jun 24). The plant in the northern province of Bac Ninh will produce 2.79 million products a year, Cong Thuong newspaper reported. Foxconn, the world’s largest contract electronics maker…
Read MoreFast-fashion retailer Shein filed for London listing in early June: sources
SHEIN confidentially filed papers with Britain’s markets regulator in early June for a potential London listing, two sources said, as the online fast-fashion retailer moves ahead with what could one of the largest IPOs globally this year. The China-founded company, which was valued at US$66 billion in a fundraising round last year, started engaging with…
Read MoreForeign banks target Switzerland after UBS takeover of Credit Suisse
AS CREDIT Suisse fades into history following its takeover by UBS last year, global banks are expanding in Switzerland to take advantage of companies’ desire to spread their business. France’s BNP Paribas, Deutsche Bank and US lenders Citi and Bank of America are among those increasing staffing and courting smaller companies that form the bedrock…
Read MoreSingPost settles legal disputes with shares seller
The settlement is not expected to have a material impact on the company’s net tangible assets or earnings per share for the current financial year Singapore Post (SingPost) has settled long-drawn-out legal proceedings with a shares seller, with the terms behind the resolution of the disputes being confidential. The national postal service provider said in…
Read MoreBitcoin extends drop after one of crypto’s worst weeks of 2024
The cracks in crypto come amid doubts about the Federal Reserve’s scope to cut interest rates quickly from a two-decade high Losses are piling up in the crypto market after its second-worst weekly drop of 2024, a reflection of cooling demand for Bitcoin exchange-traded funds and uncertainty over monetary policy. A gauge of the largest…
Read MoreIndonesia central bank governor sees no need for further rate hike
He said this even after the rupiah fell to its weakest since 2020 against the dollar last week Bank Indonesia’s governor Perry Warjiyo on Monday (Jun 24) said he saw no need for further rate hikes at the moment, even after the rupiah fell to its weakest since 2020 against the dollar last week, partly…
Read MoreLG Energy Solution aims to raise up to US$2 billion in US dollar bond deal: sources
SOUTH Korean battery maker LG Energy Solution aims to raise up to US$2 billion in a three-tranche US dollar bond deal, said two sources with direct knowledge of the matter. The deal will consist of a three-year tranche alongside five- and 10-year green bonds, showed the term sheet, which did not outline the size of…
Read MoreFormer YuuZoo CEO fined S$35,000 for misleading financial statements
FORMER YuuZoo Corporation chief executive James Matthew Somasundram was fined S$35,000 for negligence in relation to overstating revenue of S$13.3 million for the first quarter of 2016’s results. Somasundram pled guilty to the second of four charges relating to the Securities and Futures Act for misleading financial statements. The other three charges of overstating revenue…
Read MoreFormula 1 and Amazon aim for AI-powered ‘personalised’ race viewing
AT THE Spanish Grand Prix on Sunday (Jun 23), Formula 1 (F1) plans to debut a new artificial intelligence (AI) “Statbot” with Amazon.com, whose executives described plans for AI-powered personalised broadcasts to keep viewers hooked. The Statbot will trawl race archives and parse torrents of real-time racing data to feed context and trivia to broadcast…
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