CQ @ Clarke Quay reopens to 93% committed occupancy, could add to NPI in 2H2024
Goola Warden - CapitaLand Integrated Commercial Trust (CICT) has had a spate of better news in March and April. CQ @ Clarke Quay reopened on April 26 with a committed occupancy of 93% compared to 85% as at end-December 2023. The refreshed tenant mix comprises more than 50% new concepts from international and ho ...
Air China to buy 100 locally made C919 jets in US$11 billion deal
AIR China will buy 100 Comac C919 jets in a deal valued at US$10.8 billion based on list prices, giving a boost to the home-grown challenger to Airbus and Boeing.
Bank of Singapore uncovers misuse of medical benefits; fires some employees
Claims were made by employees for items such as bird’s nest and skincare products, which are not covered under the bank’s medical insurance scheme.
China Leaders ETF continues upmove after breakout as STI pauses after its breakout
Goola Warden - During the week, the Straits Times Index broke out of its thrice tested resistance at the 3,250-3,255 range setting an upside of 3,360. Usually, breakouts of this ilk are followed by temporary consolidations or retreats before prices continue their uptrend. A word of caution: there is some negative ...
India's HCLTech misses Q4 revenue estimates on weak services vertical
BENGALURU :HCLTech, India's No.3 IT services player, reported a smaller-than-expected fourth-quarter revenue on Friday amid decelerating tech spending among clients due to macro-overhang.The company posted a 7.1 per cent rise in revenue to 284.99 billion rupees ($3.42 billion) for the three mon ...
HCA beats first-quarter profit estimates on higher patient admissions
HCA Healthcare on Friday (Apr 26) beat Wall Street estimates for quarterly profit, helped by higher patient admissions due to demand for healthcare services.
F&B operator YKGI to exclusively operate Chicha San Chen in Macau for next eight years
Janice Lim - FOOD and beverage operator YKGI has been awarded the exclusive rights to operate and manage bubble tea brand Chicha San Chen in Macau.
LMIRT Q1 net property income dips 3.1% to S$30 million on higher expenses
Megan Cheah - LIPPO Malls Indonesia Retail Trust (LMIRT) on Friday (Apr 26) posted a 3.1 per cent decline in net property income to S$29.9 million for the first quarter ended Mar 31, from S$30.8 million in the corresponding year-ago period.
Exxon misses on Q1 profit despite big gains in Guyana
EXXONMOBIL on Friday (Apr 26) missed analysts’ estimates with a 28 per cent year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains.
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
THE US Food and Drug Administration approved Pfizer’s gene therapy for hemophilia B on Friday (Apr 26), the second such therapy for the rare bleeding disorder that typically requires regular infusions of a blood-clotting protein.
Chevron's quarterly profit beats estimates
OIL giant Chevron Corp beat estimates for first-quarter profit on Friday (Apr 26) as higher production volumes helped offset a hit from weak natural gas prices.
Intel falls as weak PC chip demand hurts second-quarter forecast
Intel shares slumped more than 7 per cent premarket on Friday after a downbeat second-quarter sales forecast signaled that the boom in AI technology was diverting enterprise spending away from its traditional data center and PC chips. The stock has fallen around 30 per cent so far this year as Intel ...
EU toughens rules on Chinese fashion retailer Shein
THE European Union on Friday (Apr 26) added Chinese-founded online retailer Shein to its list of digital companies that are large enough to come under stricter safety curbs.
Lippo Malls Indonesia Retail Trust holds back on DPU for fifth consecutive quarter
Bryan Wu - Lippo Malls Indonesia Retail Trust (LMIRT) will not be paying any distributions per unit (DPU) for its 1QFY2024 ended March 31, the fifth consecutive quarter in which LMIRT will not be paying distributions to holders of its $140 million perpetual securities. The REIT manager first announced the di ...
Daily Debrief: What Happened Today (Apr 26)
Stories you might have missed
Keppel prices 70 million euros of floating-rate notes due 2031
Megan Cheah - MAINBOARD-LISTED Keppel on Friday (Apr 26) said it will be offering 70 million euros (S$102.2 million) in floating-rate notes due 2031.
Denso to sell off cross-shareholdings and use proceeds on M&A
TOKYO : Toyota Motor supplier Denso plans to eventually sell all of its cross-shareholdings, its president said on Friday, as the company looks to fund acquisitions and other investments.WHY IT'S IMPORTANTInvestors have long pressured Japanese companies to sell-off cross-shareholdings and put t ...
Winking Studios eyes secondary listing on London Stock Exchange's AIM
Bryan Wu - Winking Studios has proposed a secondary listing on the London Stock Exchange’s (LSE) sub-market AIM to boost its European presence in the global gaming industry. The company says that the proposed AIM listing will provide an additional quoted platform for its securities to be traded via an establ ...
Shein to face tougher online content rules as EU designates it as very large online platform
BRUSSELS : The European Union designated Chinese-founded fast-fashion company Shein as a very large online platform (VLOP) after it reported a huge number of users, the EU said in a statement on Friday.Under the EU's Digital Services Act (DSA), companies with more than 45 million users are rega ...
Online retailer Shein is latest to face strict European Union digital regulations
LONDON: Online fast-fashion retailer Shein must face the European Union's strictest level of digital regulations, the bloc said on Friday (Apr 26) as it added the company to its list of big platforms that need extra scrutiny. The EU's Executive Commission said it formally classed Shein as ...
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Tan Nai Lun - ASIA markets ended mixed on Friday (Apr 26) as investors watched for further macroeconomic data, while persistent inflation continues to weigh on concerns of higher-for-longer rates.
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
Navene Elangovan - DISGRUNTLED shareholders of beauty product distributor Best World International raised questions over the lack of dividend payouts and the compensation of directors at the company’s first in-person annual general meeting (AGM) in five years.
Keppel prices EUR70 mil notes due 2031
Bryan Wu - Keppel has priced the issue of EUR70 million ($102 million) floating rate notes due 2031 under its multicurrency medium term note programme. The Series 017 Notes will bear interest at a floating rate based on the 6-month Euribor rate (Euro Interbank Offered Rate) plus an agreed spread, payab ...
Analysts maintain ‘buy’ calls on FCT after 1HFY2024 results
Ashley Lo - DBS Group Research’s Geraldine Wong and Derek Tan and Maybank Securities’ Krishna Guha have maintained their “buy” calls on Frasers Centrepoint Trust (FCT) with an unchanged target price of $2.70 and $2.40 respectively after FCT’s results for the 1HFY2024 ended March 31. On April 25, FCT r ...
China’s Bank of Communications Q1 profit rises 1.44%
CHINA’S Bank of Communications (BoCom), reported a 1.44 per cent rise in first-quarter net profit amid a slowing economy.
Russia's Yandex reports Q1 revenue rise as market awaits spin-off news
MOSCOW : Russian internet giant Yandex reported a 40 per cent rise in first-quarter revenue to 228.3 billion roubles ($2.47 billion), driven by growth in e-commerce and ride-hailing, with the market awaiting news on a much anticipated corporate spin-off. Yandex's Nasdaq-listed and Dutch-registe ...
Better protection for e-commerce consumers
Daryl Guppy - E-commerce is an essential part of reaching out to China’s new discretionary economy but the rules are changing. E-commerce is part of the digital economic transformation of China as it seeks to improve productivity and move up the value chain. Along with the broader area of consumer rights, the l ...
Huawei’s smart car tech offers automakers route to China sales
IT IS taken Huawei just four years to become a force in smart car technology, navigating the devastation of trade sanctions on its smartphones business while simultaneously developing a driver assistance system that is the darling of the Beijing auto show.
Sri Lanka to hand management of China-built airport to India, Russia companies
SRI Lanka will hand over management of its US$209 million Chinese-built airport to two Indian and Russian companies, a Cabinet statement said on Friday (Apr 26), as the island nation attempts to reduce losses from its state enterprises.
HSBC’s private bank shuts independent asset management business in HK, Singapore
HSBC Holdings’ private bank has discontinued its independent asset management business in Hong Kong and Singapore following a strategic business review, a bank spokesperson said.
Singapore must prepare for slower growth at higher costs: MAS
Elysia Tan - SINGAPORE faces a slower “long-run growth path” with higher costs, the Monetary Authority of Singapore (MAS) said in its half-yearly macroeconomic review on Friday (Apr 26).
Analysts lower TPs on CLCT after divergent performance between retail and new economy assets
Ashley Lo - DBS Group Research’s Geraldine Wong and Derek Tan and OCBC Investment Research’s (OIR) analyst Ada Lim have maintained their “buy” calls on CapitaLand China Trust (CLCT) while both lowering their target prices to 95 cents and 86 cents respectively. This is following a diverging performance b ...
Electrolux Q1 loss nearly triples on weak demand but beats expectations
ELECTROLUX’S operating loss nearly tripled in the first quarter on weak demand and poor performance in North America, but the loss was smaller than expected as raw material costs eased.
Thoma Bravo to buy UK's Darktrace for about $5.32 billion
LONDON :Private equity firm Thoma Bravo agreed to buy Britain's Darktrace for about $5.32 billion in cash on Friday, saying it would use its software expertise to drive growth at the Mike Lynch-backed cybersecurity specialist. The agreed price of $7.75, or around 620 pence per share represents ...
