Posts by Liam Redmond
Indonesian fund, Mitsui vie for US$300 million stake in toll operator RKE: sources
INDONESIA’S sovereign wealth fund, Indonesia Investment Authority (INA), and Japan’s Mitsui are among prospective buyers of CVC Capital Partners’ 25 per cent stake in Indonesian toll road operator RKE International, valued at up to US$300 million, two sources with knowledge of the matter said. CVC, a Luxembourg-based investment firm, initiated the sale process for its…
Read MoreChinese tea drinks firm Guming aims to raise US$202 million in Hong Kong IPO
CHINESE bubble tea drinks company Guming Holdings is aiming to raise up to US$202 million in a Hong Kong initial public offering (IPO), according to regulatory filings on Tuesday (Feb 4). The company is selling 158.6 million shares in a price range of HK$8.68 to HK$9.94 each, the filings showed. In that range, Guming will…
Read MoreAyesha Curry’s Oakland shop, Sweet July, closes over safety concerns in crime-ridden Calif. city
Ayesha Curry’s boutique shop and café in Oakland, Calif. is closing “in order to prioritize the safety” of customers and workers, the business announced over the weekend. Sweet July’s last day in the crime-ridden city will be Feb. 9 — about four years after the wife of NBA star Steph Curry first opened its doors…
Read MoreBNP expands Australia presence by hiring banker for leverage finance market
BNP Paribas has hired a senior leveraged finance banker in Sydney as the French bank expands its presence in one of Asia Pacific’s busiest markets for the debt class. Peter Medynski has joined BNP in a newly-created role as director, loan capital markets, according to a spokesperson for the bank. He reports to Chris Ruffa,…
Read MorePatrick Mahomes can close GOAT gap on Tom Brady in significant way with Super Bowl 2025 win
NEW ORLEANS — Patrick Mahomes has been chasing greatness from the moment Andy Reid tapped him on the shoulder and handed him the keys to the Chiefs kingdom, and he has chased it so feverishly and so furiously that he already finds himself chasing down Tom Brady. Joe Montana was the GOAT for a while,…
Read MoreDutch lender ING looking for acquisitions to grow in Germany, Italy and Spain, says CEO
DUTCH lender ING Group is looking for opportunities to buy rival banks in major European countries to boost its size, its chief executive said, potentially joining a wave of takeovers sweeping the region’s financial sector. The remarks from the head of one of Europe’s biggest banks are a clear signal that it is open to…
Read MoreSingapore shares open higher on Tuesday; STI up 0.6%
SINGAPORE stocks rose in early trade on Tuesday (Feb 4) after US President Donald Trump delayed the start of tariffs on Mexico and Canada for a month. At the opening bell, the Straits Times Index (STI) opened 0.6 per cent or 23.27 points higher at 3,849.74. Across the broader market, gainers outnumbered losers 87 to…
Read MoreSalesforce cutting 1,000 roles while hiring salespeople for AI
SALESFORCE is cutting jobs as its latest fiscal year gets underway, according to a person familiar with the matter, even as the company simultaneously hires workers to sell new artificial intelligence products. More than 1,000 roles will be affected, according to the person, who asked not to be identified because the information is private. Displaced…
Read MoreSingapore finds its seat at the China+1 table
FOR multinationals looking to reduce their reliance on China, the top alternative locations in Asia so far have been Vietnam and Indonesia. Both economies have witnessed a boom in exports and foreign investments over the past few years. But now someone new wants to play: Singapore. To gauge the city’s seriousness, look no further than…
Read MoreKeppel Pacific Oak US Reit posts 8.8% fall in distributable income to US$23.8 million for H2
THE manager of Keppel Pacific Oak US Reit (Kore) on Tuesday (Feb 4) posted an 8.8 per cent fall in distributable income to US$23.8 million for H2 ended Dec 31, from US$26.1 million in the previous corresponding period. This brought its income available for distribution for the full year down 8.8 per cent to US$47.6…
Read MoreKeppel Infrastructure Trust posts 54.2% lower H2 DPU of S$0.0195
KEPPEL Infrastructure Trust (KIT) on Tuesday (Feb 4) posted a 54.2 per cent lower distribution per unit (DPU) of S$0.0195 for the second half ended Dec 31, from S$0.0426 in the year-ago period. The year-ago period included S$0.0233 of special distributions paid out in November. Excluding the special distributions, DPU for the second half rose…
Read MoreJapan’s biggest lender MUFG posts 32% jump in Q3 profit
Japan’s largest lender Mitsubishi UFJ Financial Group on Tuesday (Feb 4) reported a 32 per cent increase in quarterly net profit. Profit in the October-December period came in at 490.74 billion yen (S$4.29 billion) versus 370.64 billion yen a year earlier, according to Reuters’ calculations based on nine-month cumulative figures disclosed in a filing. MUFG…
Read More