Posts by Yurie Miyazawa
India’s Adani Group to increase capex to US$15.6 billion in fiscal 2025, CFO says
The group is betting on infrastructure spending, which is expected to grow at a compounded annual growth rate of 20 per cent-25 per cent Indian ports-to-power conglomerate Adani Group will increase capital expenditures in fiscal year 2025 to US$15.6 billion from 700 billion rupees (S$11.3 billion) a year earlier, chief financial officer Jugeshinder Singh said…
Read MoreOzempic maker Novo plans another US$4.1 billion US factory
Novo Nordisk plans to invest US$4.1 billion in another US factory, ploughing more money into its biggest market amid rising discontent over the cost of its obesity and diabetes drugs. The project in Clayton, North Carolina, will double the company’s production footprint in the US, adding 1.4 million square feet of space for the final…
Read MoreChina companies seek assurances from Malaysia on avoiding US tariffs: FT
CHINESE executives have been meeting top Malaysian officials to seek assurances they can avoid United States tariffs if they relocate their battery, medical devices and semiconductor manufacturing to the country, the Financial Times (FT) reported on Tuesday (Jun 25). The companies have asked Malaysian ministers and senior government officials to lobby against the US imposing…
Read MoreOlam 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,…
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