Q&M plans acquisition of stake in Thai dental group at enterprise value of $77.6 million
The Edge Singapore - Q & M Dental Group (Singapore) plans to expand into Thailand via the acquisition of an equity stake in an unnamed Thai dental clinic chain. This will expand its footprint that is now dominantly Singapore and Malaysia into Thailand. Under terms of an MOU, the stake will be acquired at an enterpri ...
Bank of America beats profit estimates on dealmaking strength
It reported a net income of US$8.5 billion, or US$1.06 per share, in the three months ended Sep 30
Global public debt set to top post-WWII levels by 2029: IMF
Jorgelina do Rosario / Bloomberg - The International Monetary Fund (IMF) said that global public debt is on track to exceed 100% of GDP by the end of this decade, its highest level since 1948, in the aftermath of World War II. Rising debt-servicing costs are adding pressure to government’s budgets, as well as increasing defense spe ...
Industrial property developer Soon Hock IPO 9.8 times subscribed
Young Zhan Heng - Its Singapore public offer of 2.8 million shares is 16.9 times subscribed
Industrial property developer Soon Hock IPO 9.8 times oversubscribed
Young Zhan Heng - Its Singapore public offer of 2.8 million shares is 16.9 times subscribed
Public sale of IOI Properties’ W Residences Marina View - Singapore to begin Oct 25
Jovi Ho - IOI Properties Singapore will release 100 units of the upcoming W Residences Marina View - Singapore for public sale on Oct 25, following the conclusion of a “Special VVIP Preview Phase” in July. Located at the gateway of Marina Bay, this is the first hotel-home integrated branded residence wher ...
Morgan Stanley’s profit beats estimates on boost from dealmaking, stock trading
[BENGALURU / NEW YORK] Morgan Stanley’s third-quarter profit beat market expectations as investment bankers brought in more fees from advising on deals...
Italy to apply extra levy on Chinese goods to safeguard its own fashion industry
ROME :Italy plans to apply an extra levy on some imported Chinese goods to help protect its fashion industry, government sources told Reuters on Wednesday.The move is aimed at avoiding unfair competition in the market for what is one of Italy's key industries, the people said, asking not to be ...
Soon Hock Enterprise's IPO 9.8 times subscribed
The Edge Singapore - The $48.1 million IPO of industrial properties developer Soon Hock Enterprise, which closed on Oct 14, is 9.8 times subscribed. For the 2.8 million shares available in the retail tranche, there were 1,444 applications for a total of 47.3 million shares, which makes this 16.9 times subscribed. The la ...
Hong Kong passes law to regulate online ride-hailing platforms
Platforms, vehicles and drivers will all be required to obtain licences, and drivers must pass a designated test
Xiaomi driver death adds to China’s push for new EV door designs
With China being the world’s biggest car market, global carmakers may need to redesign models to fall in with the rules China...
Temasek, Nvidia, Blackrock part of group striking US$40 billion data centre deal to fuel AI boom
The deal underscores the rush to build costly infrastructure essential for powering advanced AI models
BlackRock, Nvidia-backed group including Temasek strikes US$40 billion data centre deal to fuel AI boom
The deal underscores the rush to build costly infrastructure essential for powering advanced AI models
S&P Global strikes $1.8 billion deal for private markets firm With Intelligence
S&P Global has agreed to buy private markets data provider With Intelligence, the company said on Wednesday, as it looks to expand its products for the fast-growing segment of financial services. Private markets are seeing increased investor interest as years of higher interest rates and muted e ...
MIT spinout Vertical Semiconductor raises $11 million for AI power chip tech
SAN FRANCISCO :Vertical Semiconductor, a startup spun out of the Massachusetts Institute of Technology, on Wednesday said it raised $11 million in funding to commercialize chip technology that can deliver electricity to artificial intelligence servers more efficiently.Vertical makes chips out of a ...
Review committee finds government interests ‘sufficiently safeguarded’ in F1 contract: Gan Kim Yong
Tan Nai Lun - No irregularities were observed, says the deputy prime minister
Garuda Indonesia appoints new CEO Glenny Kairupan
The airline also appoints Balagopal Kunduvara, a former executive of Singapore Airlines, as new CIO
BlackRock, Nvidia-backed AI consortium to buy Aligned Data Centers in $40 billion deal
An investment consortium that includes BlackRock, Nvidia, xAI and Microsoft will acquire Aligned Data Centers in a deal worth $40 billion, the companies said on Wednesday. The investment consortium, dubbed the Artificial Intelligence Infrastructure Partnership (AIP), has an initial target of deployi ...
US sanctions three Singaporeans in global fraud takedown tied to Cambodian scam empire
Goh Ruoxue - Seventeen entities registered here have also been sanctioned over alleged links to a tycoon accused of human trafficking, crypto fraud
Huawei affiliates parade products that fuel China chip ambitions
[SHENZHEN] Huawei Technologies’ key partners are showcasing a dizzying array of products from software to chip gear, just days after US President...
Jardine Cycle & Carriage appoints former OCBC CEO Samuel Tsien as chairman of the board
Felicia Tan - Jardine Cycle & Carriage has appointed Samuel Tsien as its independent chairman of the board. His appointment will take effect on Nov 11. Tsien is best known as being Oversea-Chinese Banking Corporation’s (OCBC) group CEO. He held that position from 2012 to 2021. From 2021 to 2022, Tsien was a ...
Apple’s shipments in China boosted by iPhone 17 series
[BEIJING] Apple’s shipments in China grew 0.6 per cent from the year before to 10.8 million units in the third quarter. This...
Daily Debrief: What Happened Today (Oct 15)
Stories you might have missed
Driving transformation: How Lionel Lee is steering Westpoint Transit as a second-gen boss
Shikhar Gupta - From wage hikes to digitalisation, he is retooling a family business to attract younger drivers and prepare for the future
Altice France rejects joint bid for SFR from French telecoms operators
Altice France, the owner telecoms firm SFR, has rejected a bid from three French rivals to buy the operator, Altice CEO Arthur Dreyfuss told staff in a memo on Wednesday, setting back a potential deal that could spur more consolidation in the European telecoms market.Bouygues Telecom, Iliad's F ...
Aztech Global Q3 profit falls 21.2% to S$10.8 million on lower demand
Young Zhan Heng - Earnings per share at S$0.0141, down from S$0.0178 the previous year
SIA, Scoot passenger traffic up 3.7% in September
Tan Nai Lun - However, the group’s cargo business was affected by Typhoon Ragasa in East Asia
Analysis:Investors on guard for risks that could derail the AI gravy train
NEW YORK :Optimism over the profit potential of artificial intelligence has helped drive the U.S. stock market to record highs, but investors are looking for weak spots that could emerge in the AI trade and have identified some risks to watch for.AI has been the dominant theme on Wall Street since t ...
Astronomers observe rings forming around icy celestial body Chiron
WASHINGTON :The rings of Saturn are among the wonders of our solar system, with a diameter of roughly 175,000 miles (280,000 kilometers) as they encircle the giant planet. But smaller celestial bodies in the solar system also boast ring systems that are impressive in their own right, even if their s ...
Credit Suisse loses $440 million UK lawsuit against SoftBank over Greensill losses
LONDON :Credit Suisse on Wednesday lost its $440 million London lawsuit against Japan's SoftBank Group Corp over losses linked to collapsed finance firm Greensill Capital.Greensill's collapse made Credit Suisse close $10 billion of funds linked to the financial firm and, along with other s ...
Singapore shares edge higher as bank stocks lift STI 0.3%
Renald Yeo - Keppel is the benchmark index’s top gainer, climbing 3.2 per cent to S$9.30
ASML orders beat expectations as AI arms race boosts demand
[AMSTERDAM] ASML Holding posted stronger-than-expected orders in the third quarter and said sales next year would be at least on par with...
Chinese premier to visit Singapore for first time since 2018
Andrea Tan and Josh Xiao / Bloomberg - Chinese Premier Li Qiang will visit Singapore later this month, people familiar with the matter said, in the first trip to the country by China’s No. 2 official in seven years as the governments seek to deepen relations. Li will visit the city-state to celebrate the 35th anniversary of diplomatic ...
Bugatti has ‘absolutely’ no plans to ditch internal combustion engines, says its EV-pioneering CEO
Derryn Wong - Electric vehicles are not the future for hypercars, says Mate Rimac; Asia-Pacific an ‘untapped’ market for the brand
