Posts by Liam Redmond
Boeing forecasts big loss on defence troubles, strike; shares drop 2.5% – The Business Times
BOEING’S loss will exceed expectations when it unveils fourth-quarter results next week, the financially strapped US planemaker said on Thursday, due to charges at its defence unit, lower jetliner deliveries and losses from a crippling strike. The company forecast a quarterly loss of US$5.46 per share, sharply steeper than analysts’ average expectation of a US$1.84…
Read MoreJapan Foods warns of loss for 9-month period amid lower revenue, higher expenses – The Business Times
This was mainly due to weak sales in November and December 2024, despite a higher number of operating outlets JAPAN Foods expects to report a loss for its nine months ended Dec 31, 2024, mainly due to lower revenue and higher selling and distribution expenses. In a bourse filing on Friday (Jan 24), the company…
Read MoreOracle, Apple, Google diverge on whether to keep serving TikTok – The Business Times
APPLE and Oracle have reacted differently to President Donald Trump’s pledge that the US government will not enforce a national security law that raised potential penalties for US partners of the popular video app TikTok. Oracle, which provides cloud services for TikTok, took Trump’s go-ahead to heart. It’s kept TikTok operational since the app briefly…
Read MoreFar East Orchard unit acquires additional stake in Woodlands Square for S$25 million – The Business Times
A UNIT of Far East Orchard (FEO) has acquired an additional stake in its commercial property in Woodlands for S$25 million. Woods Square, an integrated commercial development comprising offices and retail spaces, was completed in 2020 and was a joint venture between FEO’s wholly owned subsidiary Tannery, Far East Civil Engineering (FECE), and Sekisui House.…
Read MoreChinese EV makers file challenges to tariffs at EU court – The Business Times
CHINESE electric vehicle makers BYD, Geely and SAIC have challenged the EU’s import tariffs at the Court of Justice of the European Union (CJEU), filings on the court’s website showed on Thursday (Jan 23). The EU imposed tariffs on China-made EVs at the end of October after an anti-subsidy investigation, including 17 per cent for…
Read MoreFu Yu board rejects substantial shareholder’s directorship bid due to non-conformance with SGX’s ‘integrity requirements’ – The Business Times
PRECISION plastic components manufacturer Fu Yu Corporation’s board of directors declined to appoint substantial shareholder Victor Lim as a director due to potential non-conformance to the “directors’ integrity requirements” set out by the Singapore Exchange (SGX). Specifically, Fu Yu said that the board’s nominating committee (NC) relied on SGX’s listing manual rules 246(5)(a), which are…
Read MoreAlfa Romeo and Jeep dealership in Singapore to close by June – The Business Times
CAPELLA Auto, the agent for Alfa Romeo and Jeep cars in Singapore, is winding up its business by June and will sell its remaining stock of cars over the next few months. Speaking to The Straits Times on Thursday (Jan 23), Capella Auto’s marketing director Tracy Teo said the company will continue to offer maintenance,…
Read MoreChina firms boost shareholder returns via dividends and buybacks – The Business Times
CHINESE firms are attracting investors with increased dividends and buybacks, spurred by a policy push for corporate governance reforms in a bleak and uncertain economic environment. Beijing’s encouragement of these reforms alongside directives to pension funds and mutual funds to increase investments in domestic stocks are also forcing corporations to distribute dividends and deliver stable…
Read MoreST Engineering Urban Solutions, SP Mobility win tender to deploy public EV charging points – The Business Times
TWO electric vehicle (EV) charging operators won contracts to deploy public EV charging points across Singapore under a tender by the Land Transport Authority’s (LTA) subsidiary EV-Electric Charging (EVe). EVe said on Friday (Jan 24) that it awarded contracts under its second tender to SP Mobility, the mobility arm of SP Group, and ST Engineering…
Read MoreGrab contributed as much as 0.8% of Singapore GDP in 2023: report – The Business Times
RIDE-HAILING company Grab added S$5.2 billion to Singapore’s economy in 2023 through its on-demand services such as ride-hailing and delivery, an Oxford Economics report indicated. This is equivalent to about 0.8 per cent of Singapore’s gross domestic product, said the research firm. This is a breakdown of the S$5.2 billion contribution to the economy, said…
Read MoreBYD plans to sell plug-in hybrids in Japan – The Business Times
CHINA’S BYD could start selling its first plug-in hybrid vehicle in Japan this year, the company said on Friday (Jan 24), as it aims to expand its lineup in the country to seven or eight models over the next two years or so. The Shenzhen-based automaker also said it will start selling its fourth electric…
Read MoreJack Ma-backed Ant Group’s unit Anext Bank appoints CEO-designate – The Business Times
Digital wholesale bank Anext Bank, a wholly owned subsidiary of Jack Ma-backed Ant Group’s overseas unit Ant International, welcomed a new chief executive officer on Friday (Jan 24). Deputy chief executive officer and chief technology officer Kai Qiu is now CEO designate, and replaces CEO Toh Su Mei, who is leaving the bank after nearly…
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