Family office for Hong Kong’s richest builds out hedge fund team
[HONG KONG] A money manager for some of Hong Kong’s richest families is building a hedge fund team to allocate money away from private equity after its clients asked for more liquid investments. VMS Group, which has about US$4 billion in assets under management, hired equities veteran Raymond Jook as managing director in April. The…
Read MoreBank of Japan offers cautiously upbeat view, keeps rates steady
[TOKYO] The Bank of Japan kept interest rates steady on Thursday and offered a cautiously optimistic view on the economic outlook, after Tokyo’s trade deal with Washington cleared some uncertainty surrounding its fragile recovery. The central bank also revised up its inflation forecasts and said risks to the price outlook were “roughly balanced,” a sign of its increasing conviction Japan will make progress towards meeting the…
Read MoreAsia: Most markets down as Fed holds and Trump announces fresh tariffs
[HONG KONG] Asian markets mostly fell on Thursday while the dollar held most of its gains as traders weighed a cautious Federal Reserve with strong tech earnings and Donald Trump’s tariffs on key economies South Korea and India. The central bank held interest rates steady and refrained from suggesting it would cut any time soon despite…
Read MoreRichest Thai sees US$10 billion hydro, LNG projects driving growth
Construction on a US$1 billion LNG import terminal project, Thailand’s third, will start later this year before commercial operations are scheduled in 2029 Published Thu, Jul 31, 2025 · 11:24 AM [BANGKOK] Thailand’s richest person, Sarath Ratanavadi, expects US$10 billion investments in hydropower projects in neighbouring Laos and a new domestic liquefied natural gas (LNG)…
Read MoreOpenAI hits US$12 billion in annualised revenue, The Information reports
Published Thu, Jul 31, 2025 · 11:01 AM CHATGPT-MAKER OpenAI roughly doubled its revenue in the first seven months of the year, reaching US$12 billion in annualised revenue, The Information reported on Wednesday citing a source. Reuters could not immediately confirm the report. OpenAI declined to comment. The figure implies that OpenAI is generating US$1…
Read MoreMacquarie ‘Millionaires Factory’ put at risk by investor revolt
[SINGAPORE/MELBOURNE] Macquarie Group’s long vaunted money-making machine for top bankers is showing signs of strain. Known as the “Millionaires’ Factory”, the Australian financial giant has for years awarded more generous pay to its senior management and dealmakers than rivals across Asia. Former commodities head Nick O’Kane famously earned more than JPMorgan Chase chief executive officer…
Read MoreSeatrium shares tumble 5.4% after fines, despite strong H1 results
The company will pay S$240 million in financial penalties to settle corruption offences [SINGAPORE] Shares of Seatrium dived 5.4 per cent shortly after market open on Thursday (Jul 31) despite posting strong results for the first half of 2025. On Wednesday, the engineering solutions provider announced that it would pay S$240 million in fines to…
Read MoreSeatrium falls 5.4% after fines, despite strong H1 results
The company announced on Wednesday (30 Jul) it was to pay S$240 million in financial penalties [SINGAPORE] Shares of Seatrium dived 5.4 per cent shortly after market open on Thursday (Jul 31) despite strong H1 2025 results. The company announced on Wednesday (30 Jul) that it would pay S$240 million in fines to authorities in…
Read MoreKeppel shares up 6.1% on H1 earnings growth, share buyback and asset divestment plans
[SINGAPORE] Shares of Keppel rose on Thursday (Jul 31) morning after the asset manager posted a 24.2 per cent rise in H1 earnings, a S$500 million share buyback scheme and plans to divest S$14.4 billion of non-core assets. As at 10.10 am, the counter was trading at a six-year high of S$8.68, with some 7.9…
Read MoreKeppel shares up 6.1% on H1 earnings growth and plan to divest S$14.4 billion of non-core assets
[SINGAPORE] Shares of Keppel rose on Thursday (Jul 31) morning after the asset manager said H1 net profit grew 24.2 per cent and that it planned to divest a portfolio of non-core assets worth S$14.4 billion. As at 10.10 am, the counter was trading at a six-year high of S$8.68, with some 7.9 million shares…
Read MoreKeppel shares up 5.5% on H1 earnings growth and plan to divest S$14.4 billion of non-core assets
Year to date, it is up 25.1% from its closing price on the last trading day of 2024 [SINGAPORE] Shares of Keppel rose on Thursday (Jul 31) morning after the asset manager said H1 net profit grew 24.2 per cent and that it planned to divest a portfolio of non-core assets worth S$14.4 billion. As…
Read MorePanama official seeks court review of CK Hutchison port contract
[NEW YORK] Panama’s comptroller general asked its Supreme Court to review the government’s contract extension with CK Hutchison’s local ports unit, potentially throwing a new wrench into the conglomerate’s deal to sell its global terminals business. Panamanian official Anel Flores said that he asked the court to find unconstitutional a 2021 extension for Panama Ports’…
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