Posts by Liam Redmond
CIMB Q3 profit up 2.3% at RM2.08 billion
[SINGAPORE] CIMB’s net profit for the third quarter ended Sep 30 rose 2.3 per cent to RM2.08 billion (S$653.5 million) from RM2.03 billion in the year-ago period, the company said on Friday (Nov 28). Operating income in Q3 grew 3.6 per cent to RM5.9 billion from RM5.7 billion, buoyed by higher non-interest income from robust…
Read More‘Lost their life savings’: Tokenize Xchange users sue founder and wife for over S$60 million in lost crypto assets
The firm owes its customers about S$266.3 million but has only S$2.6 million in realisable assets, interim judicial manager report reveals [SINGAPORE] More than 200 former customers of the now-defunct cryptocurrency trading platform Tokenize Xchange are collectively suing the founder of the company to claim S$60.5 million in damages for fraudulent misrepresentation. According to court…
Read MoreSingapore stocks gain more ground on Friday as regional peers close mixed
[SINGAPORE] Singapore stocks ended higher on Friday (Nov 28) as regional benchmarks ended the day mixed. The benchmark Straits Times Index (STI) gained 0.3 per cent or 14.62 points to finish at 4,523.96. Meanwhile, the iEdge Singapore Next 50 Index gained 0.2 per cent or 2.47 points to 1,447.21. Across the broader market, gainers edged…
Read MoreJPMorgan sees DBS at S$70 in a year’s time; with potential S$3.30 dividend for years
[SINGAPORE] As Singapore’s financial sector evolves, DBS could get “unjustifiably expensive”, and UOB may face volatility over the next six months, said JPMorgan in a note on Friday (Nov 28). This comes as local banks and the Singapore Exchange (SGX) are set for “significant improvement in value creation” over a multi-year period, amid shifts to…
Read MoreMalaysia’s electrical firms to gain from data centre boom: JP Morgan report
The market capitalisation of MEP businesses has compounded by nearly three times from 2024 to late 2025 [KUALA LUMPUR] Malaysia’s electrical companies are benefiting significantly from a data centre boom in the country, said a report by JPMorgan. The bank’s analysts said that the market capitalisation of mechanical, engineering and plumbing (MEP) businesses has compounded…
Read MoreSystem outage halts Bursa Malaysia’s derivatives trading
[KUALA LUMPUR] Trading on Bursa Malaysia’s derivatives market was halted on Friday due to a system outage of the Globex electronic trading platform, the Malaysian bourse said. Bursa Malaysia said all of its derivative products are affected, and said it was working with Globex provider Chicago Mercantile Exchange Group to restore services as quickly as…
Read MoreSingapore crowned world’s No 1 container port: report
This is driven by the country’s world-class infrastructure and transparent governance [SINGAPORE] The Republic has been crowned the world’s leading container port in the inaugural edition of the Leading Container Ports of the World report by DNV and Menon Economics. The report’s ranking methodology evaluated the top 160 container ports globally, based on a ranking…
Read MoreGold hits two-week peak on increased Fed rate-cut bets
GOLD prices rose to a two-week high in early Asian trade on Friday, as bets increased for a US interest rate cut next month amid conflicting signals from Federal Reserve officials. Spot gold rose 0.6 per cent to US$4,180.89 per ounce by 0100 GMT, hitting its highest level since Nov 14, and was set for…
Read MoreSingapore Flyer operator Straco Q3 profit down 8% at S$10.7 million
[SINGAPORE] Singapore Flyer operator Straco posted a net profit of S$10.7 million for its third quarter ended Sep 30, 8 per cent down from S$11.7 million in the year-ago period. Its revenue fell 13.4 per cent to S$27.2 million from S$31.4 million, Straco said on Thursday (Nov 27). The group noted that both its China…
Read MoreStocks to watch: OCBC, Frasers Property, Straco, ASL Marine, mm2 Asia, Banyan Tree
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Nov 28): OCBC : Its mobile banking services were fully restored after a two-hour outage on Thursday night. More than 1,400 customers reported issues with the OCBC mobile application such as difficulty logging in, though ATM and card services…
Read MoreFrasers Property to redeem S$300 million worth of 4.38% perpetuals on Jan 17
The securities are part of its S$5 billion multi-currency debt issuance programme [SINGAPORE] Frasers Property on Friday (Nov 28) announced that it will redeem S$300 million worth of perpetual securities on Jan 17, 2026. The securities, which have a S$250,000 face value, are part of the company’s S$5 billion multi-currency debt-issuance programme, and have a…
Read MoreBritain tries to fix its frayed relations with world’s rich
TECH billionaires, the owners of Premier League football teams and heirs to some of Europe’s oldest fortunes all recently left the UK because of higher taxes. Now, Britain’s finance minister is quietly trying to put a halt to the wealth and brain drain. UK Chancellor of the Exchequer Rachel Reeves’ budget on Wednesday sought to…
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