Ever Glory to offer 2 mil new shares at 64 cents to fulfil Mainboard transfer requirement to have 500 shareholders
Nicole Lim - Ever Glory United is undertaking a public offer of up to 2 million new shares at a 64 cents per offer share, in relation to its proposed transfer of listing to the Mainboard of the SGX. The offering price represents a 9.1% discount to the volume weighted average price of 70.4 cents for trades done o ...
Former Cathay cinema operator mm2 given nod by High Court to apply for four-month reprieve from creditors
The entertainment company owes millions of dollars and has faced repayment demands.
Mapletree Pan Asia Commercial Trust to divest Festival Walk Tower in Hong Kong for HK$1.96 bil
Nicole Lim - Mapletree Pan Asia Commercial Trust (MPACT) has entered into an asset sale agreement to divest Festival Walk Tower in Hong Kong for HK$1.96 billion ($328.1 million). Through its subsidiary Festival Walk Limited, MPACT will divest the office component of Festival Walk called Festival Walk Tower to an ...
Vivendi in last ditch effort to avert EU fine for closing Lagardere deal too soon
BRUSSELS, Dec 10 : French media conglomerate Vivendi made a last-ditch effort on Wednesday to stave off a potential EU antitrust fine, following charges it closed its acquisition of publisher Lagardere before receiving regulatory approval.Vivendi, represented by more than a dozen lawyers, made its c ...
MPACT subsidiary sells Festival Walk Tower for close to HK$2 billion
Chloe Lim - The divestment proceeds will go towards reducing debt, says MPACT’s manager
HSBC to pay about $300 million to settle French tax probe, Bloomberg reports
Dec 10 : HSBC is preparing to pay around $300 million to settle a French criminal investigation into its alleged role in the "cum-cum" tax scandal, Bloomberg News reported on Wednesday, citing people familiar with the matter.HSBC said in October it had made a $300 million provision against ...
Coal’s grip on Asia strengthens as early phaseout bids stall
Governments keen to avoid outages are waving through coal plant approvals
ByteDance, Alibaba keen to order Nvidia H200 chips after Trump green light: sources
The chip’s ability to train AI models is currently unmatched by domestic equivalents
ComfortDelGro and Pony.ai get green light to test self-driving shuttles on public roads in Punggol
Lionel Lim - This is ahead of an expected launch of AV shuttle services in Punggol next year
ComfortDelGro and Pony.ai get green light from Singapore regulators to start autonomous vehicle testing on public roads
Lionel Lim - This is ahead of an expected launch of AV shuttle services in Punggol next year
IMF wades into debate over yuan, warns on risk of trade tensions
It’s lending its voice to a debate over distortions caused by a weaker exchange rate
HSBC’s senior bankers hid behind co-head roles, CEO Georges Elhedery says
Since taking charge, he has nearly halved the size of the bank’s operating committee
Oil rises after US says it seized tanker off the coast of Venezuela
NEW YORK, Dec 10 : Oil prices rose on Wednesday after officials said the U.S. seized an oil tanker off the coast of Venezuela, adding to prompt supply concerns.Brent crude futures rose 33 cents, or 0.5 per cent, to $62.27 a barrel by 2:21 p.m. ET. U.S. West Texas Intermediate crude futures rose 28 c ...
Oil drops as US reports smaller than expected fall in crude stocks
NEW YORK, Dec 10 : Oil prices fell on Wednesday as the U.S. government reported a smaller than expected draw in crude stocks last week, while investors watched for progress in Russia-Ukraine peace talks and awaited a decision on U.S. interest rates.Brent crude futures were down 49 cents, or 0.8 per ...
Oil steadies ahead of Ukraine peace talks and Fed interest rate decision
LONDON, Dec 10 : Oil prices steadied on Wednesday as investors watched for progress in Russia-Ukraine peace talks and awaited a decision on U.S. interest rates.After declines of about 1 per cent in the previous session, Brent crude was up 7 cents, or 0.1 per cent, at $62.01 a barrel by 1039 GMT whi ...
Airbus CEO concedes likely defeat to Boeing in order race this year
The planemaker remains ahead of its US rival in deliveries and the pipeline of outstanding orders
3 Keppel subsidiaries put up for voluntary liquidation
Chloe Lim - The wholly owned units are Keppel Enterprise FinHub, Keppel Enterprise Services and Keppel People Services
HG Metal to acquire stake in Malaysian steel manufacturer Eden Flame for RM18 mil
Nicole Lim - HG Metal Manufacturing has entered into a subscription agreement for 18,000,000 Class B Preference Shares in Eden Flame for RM1 per share, amounting to RM18 million ($5.68 million). Eden Flame is a Malaysian steel manufacturer with a plant in Pasir Gudang, Johor Bahru. It is targeted to commence ope ...
SGX’s November securities turnover value up 18%, driven by index stocks and Reits
Derryn Wong - Volume is 4% higher year on year, at 29.3 billion shares
Daily Debrief: What Happened Today (Dec 10)
Stories you might have missed
Air India admits compliance culture needs overhaul after flying Airbus without permit
The report is a stark admission from the airline whose Boeing Dreamliner crash in June killed 260 people
Rex International reports 10,417 boepd in Nov from Norway, Oman and Germany
Nicole Lim - Rex International has reported a production of 10,417 barrels of oil equivalent per day (boepd) in November from Norway, Oman and Germany. The group’s indirect subsidiary Lime Petroleum reported 9,408 boepd for the month. Similarly, the group’s other indirect subsidiary Masirah Oil announced a g ...
Airbus wins €50 million contract to deploy French military AI
Dec 10 - Airbus has agreed a 50 million euros ($58 million) contract to incorporate artificial intelligence developed by the French Ministerial Agency for Defence AI (AMIAD) into weapons and information systems used by the French armed forces.The contract's initial phase will focus on upgrading ...
SGX Group’s bellwether STI gain 2.2% m-o-m in Nov; y-t-d calendar gains at 19%
Nicole Lim - The Singapore Exchange Group (SGX) saw the bellwether Straits Times Index (STI) gaining 2.2% m-o-m, taking y-t-d calendar gains to 19% and total returns to 25% for November. In the month, turnover surged 18% y-o-y to $35.5 billion, the best traded value since April, according to the group. The excha ...
Coupang CEO resigns over historic South Korean data breach
The company faces a potential fine of up to one trillion won
Singapore stocks close flat ahead of Fed interest rate decision
Benjamin Cher - The STI ends the day flat; the iEdge Singapore Next 50 Index is 0.1% lower
Singapore stocks inch down ahead of Fed policy decision
Benjamin Cher - The STI ends the day flat; the iEdge Singapore Next 50 Index is 0.1% lower
ComfortDelGro obtains M1 AV licences for Punggol trial
Felicia Tan - ComfortDelGro has obtained the Milestone testing regime level 1 (M1) license for autonomous vehicles (AVs) on public roads, says the company on Dec 10. The license will enable CDG’s AVs to be able to conduct trials for its Punggol route. CDG, on Sept 20, said its autonomous shuttle service, Zig Dr ...
Another Chinese rare earth producer obtains streamlined licence for magnet exports
BEIJING, Dec 10 : Ningbo Jintian said on Wednesday it had obtained a streamlined licence to export rare earth magnet products.The new general licences are designed to allow more exports under year-long permits for individual customers, Reuters reported in early November.Reuters reported last week th ...
12,000 Marriott suppliers in Singapore, Malaysia, Indonesia to get same-day invoice financing by OCBC
Lee U-Wen - The partnership gives the hospitality group’s SME suppliers quick and seamless access to capital, and enables them to be more sustainable
HSBC set to pay about US$300 million to settle French criminal case
The full agreement would cover the fine to end the PNF case as well as the tax bill
Wingtech invites Nexperia custodians to Beijing for talks on control of the company - source
AMSTERDAM, Dec 10 : Wingtech, the Chinese parent company of Netherlands-based chipmaker Nexperia, has invited the court-appointed custodians of its Dutch unit to Beijing for talks on control of the company, a source familiar with the dispute said on Wednesday.A spokesperson for Nexperia BV confirme ...
Wingtech invites Nexperia custodians to talks on control of the company
AMSTERDAM: Wingtech, the Chinese parent company of Netherlands-based chipmaker Nexperia, said on Wednesday (Dec 10) it has invited the court-appointed custodians of the Dutch firm for talks on control of the company, a possible first step toward easing relations.Nexperia's European arm has
Nintendo sheds US$14 billion value after chip squeeze fears grow
The gaming pioneer faces rising memory costs, which threaten to impair margins for its Switch 2 console
