Posts by Swedan Margen
Stocks to watch: SIA, Sembcorp, Keppel, Cordlife, CapitaLand India Trust, Civmec, ASL Marine
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jun 26): Singapore Airlines (SIA): The national carrier announced in its annual report on Wednesday that it paid its chief executive Goh Choon Phong S$7 million in remuneration for the latest financial year ended Mar 31. This a 13.5 per…
Read MoreCircle K owner misses estimates on lower fuel prices, demand
[TORONTO] Circle K owner Alimentation Couche-Tard slightly missed earnings estimates for its fiscal fourth quarter earnings because of lower fuel demand. The Canadian convenience store and fuel retailer earned 46 US cents per share on an adjusted basis, according to a statement on Wednesday (Jun 25), a penny short of the 47 US cents estimated…
Read MoreShell says it has no intention of making an offer for BP
[LONDON] Shell said it has no intention of making a takeover offer for BP, refuting an earlier report that two of Europe’s biggest companies were in active merger talks. The announcement quells speculation that the UK’s two oil majors would end up combining, following several years of poor performance from BP and rising pressure from…
Read MoreShell says it isn’t in talks to take over oil rival BP
Speculation has been growing that the embattled company would become a takeover target Published Thu, Jun 26, 2025 · 08:03 AM [LONDON] Shell denied a Wall Street Journal report that it is in active talks about acquiring its London-based oil rival BP. “This is further market speculation. No talks are taking place,” a Shell spokesperson…
Read MoreTrump-backed crypto firm is planning stablecoin audit, new app
[NEW YORK] Zak Folkman, the co-founder of US President Donald Trump’s cryptocurrency platform World Liberty Financial (WLF), said on Wednesday (Jun 25) that the company will issue an audit of its stablecoin “within days” and that it planned a new app. Folkman also hinted that WLF’s governance token, known as WLFI, could soon become tradable…
Read MoreXiaomi launches YU7, undercutting Tesla’s Model Y on price
[BEIJING] Chinese EV and smartphone maker Xiaomi on Thursday (Jun 26) priced its new electric YU7 SUV from 253,500 yuan (S$45,102), almost 4 per cent below Tesla’s Model Y, stepping up the challenge to the US firm in the world’s largest auto market. The YU7‘s base model costs 10,000 yuan less than the starting price…
Read MoreChina’s Xiaomi to launch first SUV as shares near record high
[HONG KONG] The unveiling of Xiaomi’s first electric SUV on Thursday (Jun 26) will showcase how the Chinese tech company has become an investor darling with its high-stakes bet on the auto market. Shares of the firm founded by billionaire Lei Jun are within striking distance of a fresh record in Hong Kong after a…
Read MorePartial offer for Cordlife lapses with Thai-listed Medeze obtaining less than 1% stake
An independent financial adviser had earlier deemed the offer unfair and unreasonable [SINGAPORE] A partial offer for a 10 per cent stake in Cordlife Group has lapsed, with the offerer, a subsidiary of Thai-listed Medeze Group, having secured less than a 10th of the shares it needed to. As at the close of the offer…
Read MoreUS Federal Reserve releases plan to relax key bank capital rule
[WASHINGTON] The US Federal Reserve unveiled plans to roll back an important capital rule that big banks have said limits their ability to hold more Treasuries and act as intermediaries in the US$29 trillion market. The Fed board voted 5-2 on Wednesday (Jun 25) to propose changes to what’s known as the enhanced supplementary leverage…
Read MoreSingPost pays ex-CEO Phang S$616,400 for FY2025 as it pursues automation, leadership reset
[SINGAPORE] Former Singapore Post (SingPost) group chief executive Vincent Phang, who was dismissed over the mishandling of a whistleblower complaint, received S$616,400 in remuneration for the financial year ended Mar 31. According to SingPost’s latest annual report released on Tuesday (Jun 24), the payout comprised S$570,600 in fixed salary, S$10,500 in provident fund contributions, and…
Read MoreAssisted living in Singapore: Companies face steep costs, but innovation is still possible
[SINGAPORE] Assisted living facilities – which enable elderly folk to live semi-independently with elderly-friendly amenities and care services – are a tough business in land-scarce Singapore. But there is still room for more private operators to pilot new models and innovate. Healthcare and real estate company Perennial Holdings is investing in this space. In 2023,…
Read MoreSingPost halves sacked CEO Vincent Phang’s pay to S$616,400
[SINGAPORE] Former Singapore Post (SingPost) group chief executive Vincent Phang, who was dismissed over the mishandling of a whistleblower complaint, received S$616,400 in remuneration for the financial year ended Mar 31. According to SingPost’s latest annual report released on Tuesday (Jun 24), the payout comprised S$570,600 in fixed salary, S$10,500 in provident fund contributions, and…
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