Posts by Swedan Margen
OCBC keeps 2025 guidance, but loan growth targets could be buffeted by headwinds: CEO Helen Wong
[SINGAPORE] OCBC is keeping its financial targets for 2025, but noted that its loan growth guidance of a mid-single digit will likely see the most headwinds, especially if the market continues to be “very uncertain”, said chief executive officer Helen Wong. Nevertheless, current trade tariffs are expected to have a “first-order impact” on 3 per…
Read MoreSingapore banks set aside extra allowances to account for heightened uncertainty
[SINGAPORE] The local banking trio have taken extra allowances in their first-quarter 2025 results amid a rise in uncertainty in the macroeconomic environment. DBS, OCBC and UOB each said this was a pre-emptive step to beef up their reserves as they navigate the impact of US tariffs and a possible economic slowdown, even as asset…
Read MoreAsia: Stocks lifted by hopes for US-China talks after UK deal
[HONG KONG] Most Asian equities rose on Friday (May 9) on growing optimism that the worst of US President Donald Trump’s trade war is past after he reached a deal with Britain and suggested he could lower tariffs on China as officials prepare for high-stakes talks this weekend. The mood among investors has improved substantially…
Read MoreBain Capital to sell China data centre business likely valued at over US$4 billion: sources
[HONG KONG] US investment firm Bain Capital is seeking to sell the China business of data centre operator WinTriX DC Group, in a deal that could value the business at over US$4 billion, two sources with knowledge of the situation said. Bain Capital has engaged with advisers who have held preliminary conversations with potential buyers…
Read MoreMarco Polo Marine posts 3.4% decline in H1 profit to S$10.6 million
[SINGAPORE] Marco Polo Marine on Friday (May 9) posted a 3.4 per cent year on year decline in H1 net profit to S$10.6 million, from S$11 million. The results translate to earnings per share of S$0.0028, against S$0.0029 in the same period last year. No dividend was declared for the half year, unchanged from the year before.…
Read MoreUS sanctions on China refiners over Iran oil disrupt operations: sources
[SINGAPORE] Recent US sanctions on two small Chinese refiners for buying Iranian oil have created difficulties receiving crude and led them to sell product under other names, sources familiar with the matter said, evidence of the disruption that Washington’s stepped-up pressure is inflicting on Tehran’s biggest oil buyer. The targeting of independent refiners, known as…
Read MoreA Day in the Live-Streamed Life of Donald Trump
In Donald Trump’s first term, he reinvented many things about how the job of President was done. The strictly scheduled day of his predecessors—the rigid procession of fifteen-minute meetings, the early-morning starts—was not for him. Instead, much of his “executive time” was spent in the small dining room off the Oval Office—a place eventually made…
Read MoreLuxury labels ditch steep China discounts to rebuild brand value
[HONG KONG] Some luxury labels are pulling back from steep markdowns in China, seeking to rebuild an image of exclusivity to lure back wealthy shoppers whose spending remains less affected by the economic slowdown. None of the products sold by Kering’s Balenciaga on Tmall, China’s dominant e-commerce platform, were discounted in the first quarter of…
Read MoreOil prices rise 3% on support from US-China trade hopes
[NEW YORK] Oil prices rose around 3 per cent on Thursday (May 8), buoyed by hopes of a breakthrough in looming trade talks between the US and China, the world’s two largest oil consumers. Brent crude futures settled up US$1.72, or 2.8 per cent, at US$62.84 a barrel. US West Texas Intermediate crude rose US$1.84,…
Read MoreHow advisers can augment the board
ONE of the expected roles of the board of a company is to provide strategic guidance by drawing upon the diverse experience and expertise of its directors. Indeed, much of the discussions around the need for board diversity is precisely in response to this. There are however, limitations in developing cognitive diversity through just the…
Read MoreUS: Wall St opens higher ahead of potential US-UK deal announcement
Published Thu, May 8, 2025 · 09:46 PM [NEW YORK] Wall Street’s main indexes opened higher on Thursday (May 8) on news that the United States was on the verge of signing a trade agreement with Britain, while chip stocks added to gains on the prospect of fewer export curbs on AI semiconductors. The Dow…
Read MoreFar East Orchard Q1 net profit more than doubles to S$17.3 million
[SINGAPORE] Hospitality and student housing player Far East Orchard’s net profit more than doubled to S$17.3 million for the first quarter ended Mar 31, 2025, from S$6.9 million the previous corresponding period, the company announced on Thursday (May 8). The significant rise in its Q1 net profit was driven by a one-off gain of S$9.2…
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