Leadership
CDL net profit drops 75% to S$317.3 million for 2023, targets S$1 billion in divestments
CITY Developments Ltd’s (CDL) net profit dropped 75 per cent to S$317.3 million in 2023, as higher financing costs ate into profits in the absence of divestment gains. This...
WuXi is now most-sold Chinese stock by foreigners on US ban fear
WUXI AppTec has become the most-sold Chinese stock this year on fears of United States sanctions, a reversal from last year when the shares of the biotech company were...
Chinese chipmaker cleared in US criminal trade secrets case
A CHINESE chipmaker was cleared of economic espionage and other criminal charges in a setback for a United States Justice Department crackdown on intellectual property theft by China. More...
Hot stock: OCBC falls 3.1% after Q4 earnings miss
SHARES of OCBC retreated on Wednesday (Feb 28) morning amid heavy trading after the bank reported a fourth quarter net profit of S$1.62 billion, falling short of the S$1.72...
Starbucks, US union agree to form ‘framework’ for organising, bargaining
STARBUCKS and a union seeking to organise the coffee chain’s US workforce said on Tuesday they have agreed to create a “framework” to guide organising and collective bargaining and...
Oil rises more than US$1/barrel as Opec+ mulls extending output cuts
OIL prices rose more than US$1 a barrel on Tuesday as sources said Opec+ is considering extending voluntary oil output cuts into the second quarter to provide additional support. Brent crude futures...
Blood in the water from US office Reits could draw highly speculative investors
INVESTORS buy into Singapore-listed real estate investment trusts (S-Reits) for their stable distributions. But of late, the three US office S-Reits – after completely halting all or most of...
Yangzijiang Shipbuilding H2 net profit rises 64.7% on rise in shipbuilding revenue
YANGZIJIANG Shipbuilding on Tuesday (Feb 27) reported net profit of 2.4 billion Chinese yuan (S$443.2 million) for the second half of the financial year ended Dec 31, 2023, up...
