Posts by Liam Redmond
SingPost Q3 operating profit down 23.8% at S$21.1 million
SINGAPORE Post’s (SingPost) group operating profit for the third quarter ended December was S$21.1 million, down 23.8 per cent on the year from S$27.7 million. The decrease in operating profit comes as operating expenses for SingPost’s Singapore and International business units outpaced revenue growth. “The decline was driven primarily by ongoing macroeconomic pressures, including…
Read MoreTelstra’s profit jumps, announces A$750 million share buyback
TOP Australian telecom firm Telstra met consensus expectations for its first-half profit on the back of its mobile business and announced an A$750 million (S$639 million) share buyback, citing cost discipline and confidence in its outlook. Telstra will conduct the on-market buyback through 2025, which CEO Vicki Brady said was consistent with its capital management…
Read MoreSeatrium gets offshore rig contract from International Maritime Industries
SEATRIUM’S offshore jack-up designer Seatrium Offshore Technology has won an international tender from International Maritime Industries, a shipyard in the Middle East and North Africa region, for the supply of equipment and licence for a self-elevating drilling unit. This marks the start of new-build construction for the shipyard since its opening, and of its “long-term…
Read MoreStocks to watch: Seatrium, SingPost, Sasseur Reit, CSE Global, United Hampshire US Reit
THE following companies saw new developments that may affect trading of their securities on Thursday (Feb 20). Seatrium: It announced on Thursday that its offshore jack-up designer, Seatrium Offshore Technology, won an international tender from shipyard International Maritime Industries for the supply of equipment and licence of a drilling unit. The company said this…
Read MoreSasseur Reit posts 0.1% rise in H2 DPU to S$0.02929 on resilient rental income
THE manager of Sasseur Real Estate Investment Trust (Reit) on Thursday (Feb 20) posted a distribution per unit (DPU) of S$0.02929 for the second half ended December, up 0.1 per cent from S$0.02927 in the previous corresponding period. This was supported by resilient rental income under the Reit’s entrusted management agreement (EMA) model. EMA rental…
Read MoreTesla cited by US regulators over worker’s death
US FEDERAL regulators have cited Tesla for violating workplace safety rules in connection with the electrocution of a worker last summer at its Austin, Texas auto-manufacturing plant. The US Department of Labor confirmed the findings in a statement to Reuters. “The investigation is closed and citations have been issued,” said the department, which oversees the…
Read MoreNasdaq-listed Grab’s Q4 profit falls to US$27 million, but beats analyst estimates
NASDAQ-LISTED Grab on Thursday (Feb 20) posted a net profit of US$27 million for the fourth quarter ended December, down from US$35 million in the previous corresponding period. The earnings beat estimates of a US$10.3 million profit in a poll of eight analysts by Bloomberg. Revenue for the three months was US$764 million, up…
Read MoreChinese rivals seize on Illumina’s blacklisting to woo clients
BEIJING’S surprise move to blacklist Illumina has unleashed a frenzy among the US firm’s Chinese rivals to win market share from the gene-sequencing giant. While Illumina is still assessing the consequences of being added to China’s unreliable entity list earlier this month, Chinese makers of instruments that read genetic information have wasted little time trying…
Read MoreBeyond Meat pursues new borrowing to shore up liquidity
PLANT-BASED burger maker Beyond Meat is sounding out investors to borrow as much as US$250 million from private credit lenders, its second such attempt in less than 12 months, according to sources with knowledge of the matter. The Los Angeles-based producer of meat substitutes is working with PJT Partners on the outreach for a new…
Read MoreOlivia Munn claims she was offered ‘7 figures’ to keep her mouth shut about ‘traumatic’ incident on movie set
Olivia Munn claimed she was offered over $1 million to stay quiet about a “traumatic” incident on a movie set. During an appearance on Monica Lewinsky’s “Reclaiming” podcast Tuesday, the “Predator” actress discussed how her “tumultuous upbringing” affected her values as an adult — and trickled into her career. Munn revealed she was relentlessly bullied as…
Read MoreManulife’s profit climbs on wealth management strength, Asia growth
MANULIFE Financial posted higher fourth-quarter profit on Wednesday, bolstered by a thriving wealth and asset management business and strong growth in Asia. The results underscore the rising significance of Manulife’s asset and wealth management unit. Insurers have been expanding their investment advisory and retirement planning services to tap into the rising demand for long-term financial…
Read MoreGoogle develops AI co-scientist to aid researchers
GOOGLE has developed an artificial intelligence (AI) tool to act as a virtual collaborator for biomedical scientists, the US blue chip said on Wednesday (Feb 19). The new tool, tested by scientists at Stanford University in the US and Imperial College London, uses advanced reasoning to help scientists synthesize vast amounts of literature and generate…
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