Posts by Liam Redmond
Some analysts downgrade CDL, reduce price target on boardroom tussle
ANALYSTS believe that the ongoing feud between CDL’s executive chairman Kwek Leng Beng and chief executive officer and his son, Sherman Kwek, could cause an overhang on the group’s share price in the near term. Some analysts downgraded the company’s stock on Wednesday (Feb 26) and Thursday, checks by The Business Times showed. JP Morgan…
Read MoreToyota global output rises for the first time in a year in January
TOYOTA Motor said on Thursday its worldwide production rose for the first time in a year in January, as it ramped up output in Japan after recovering from last year’s certification scandal in its home market. The world’s biggest automaker’s global output for January increased 6 per cent year-on-year to 781,729 vehicles, with domestic production…
Read MoreKwek Leng Beng-Sherman tussle at CDL can destroy value
Share price is deeply undervalued, could father-son tussle lead to restructuring or a merger? Investors buy into listed groups where families hold major stakes and are active in management, partly because they see families with skin in the game taking the long-term view in growing the business. However, families are prone to conflict – and…
Read MoreHong Kong bourse logs 10% profit jump as trading turnover and IPOs surge
HONG Kong’s bourse operator reported a 10 per cent rise in annual profit, helped by sharp increases in trading turnover and new company listings, and said it was optimistic that a pickup in Chinese economic activity would help its prospects. Recent years have seen the exchange’s performance hampered by slow growth in China’s economy, regulatory…
Read MoreHong Kong exchange’s 2024 profit rises 10% on higher trading revenues
HONG Kong’s bourse operator reported on Thursday a 10 per cent rise in profit in 2024, beating forecasts, bolstered by a sharp jump in trading revenues after China’s announcement of economic stimulus measures boosted investor sentiment. The exchange also benefitted from an increased momentum in new listings, particularly in the second half of the year,…
Read MoreOCBC Capital Return Plan Splits RHB, Maybank Analysts on Impact
ANALYSTS were split on the scale of impact of OCBC’s capital return plan announced on Wednesday (Feb 26), despite agreeing that it was a “welcome addition” and lifting their price targets for the counter. The bank on Wednesday posted higher earnings for its fourth quarter and full year ended December 2024, and announced its intention…
Read MoreKim Kardashian Says North West Was “Mad” At Her For Divorcing Kanye West
North West, the eldest daughter of Kim Kardashian and Kanye West, had a hard time with their divorce. On the latest episode of The Kardashians — titled “She Said Yes!” — Kim reveals that North was “mad” at her for a long time after she filed for divorce from the controversial rapper. While playing ping…
Read MoreTrump team weighs pulling funds for Moderna bird flu vaccine
US HEALTH officials are reevaluating a US$590 million contract for bird flu shots that the Biden administration awarded to Moderna, sources familiar with the matter said. The review is part of a government push to examine spending on messenger RNA-based vaccines, the technology that powered Moderna’s Covid vaccine. The bird flu shot contract was awarded…
Read MoreAG Pam Bondi says DOJ will likely release Epstein files Thursday: ‘It’s pretty sick’
Attorney General Pam Bondi teased Wednesday that the Justice Department will likely release documents related to Jeffrey Epstein “tomorrow,” including the flight logs from the notorious sex predator’s private jet. Bondi, who revealed last week that the highly sought documents were sitting on her desk for review, told Fox News host Jesse Watters that the…
Read MoreBain Capital mulls US$10 billion sale of Rocket Software: sources
PRIVATE equity firm Bain Capital is weighing options, including a sale, for Rocket Software that could value the US automation software provider at as much as US$10 billion, including debt, sources familiar with the matter said. Bain’s deliberations come as the artificial intelligence boom is forcing large corporations to increase their technology spending to upgrade…
Read MoreJustin Tucker, wife further deny ‘shocking’ sexual misconduct allegations against Ravens kicker
Justin Tucker continued to maintain his innocence as the spotlight remained on his alleged sexual misconduct this week after Ravens general manager Eric DeCosta addressed the matter at the NFL combine Tuesday. In a statement to Outkick on Wednesday, Tucker, 35, decried the allegations as “shocking and heart-breaking” while maintaining that they are “simply not…
Read MoreHeavy selling wipes nearly a billion dollars off Yangzijiang Shipbuilding’s value as its shares plummet 9%
Shares of Yangzijiang Shipbuilding dropped as much as 16 per cent on Thursday (Feb 27), a day after it posted earnings and in a week when the US proposed to slap fees on Chinese-built vessels entering US ports. Just past 10 am, shares of the Singapore-listed maritime vessel maker plunged to roughly S$2.28. That drop built…
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