Latest
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Corporate News
Funds raised by Singapore’s tech startups up 59% in 2023
Singapore’s early-stage emerging technology startups raised US$402mil in funding in 2023, up 59% from the US$253mil raised in 2022, says national investment arm SGInnovate.
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Corporate News
Helping more city-state F&B businesses to expand overseas
Plans are afoot to help more Singapore food and beverage (F&B) businesses expand overseas.
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Corporate News
Investors revolt as Woodside expands in oil and gas
Major investors are opposing Woodside Energy Group Ltd’s climate plans and the chairman’s re-election, raising questions about the strategy of Australia’s largest energy company as it rushes to expand oil and natural gas output.
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Corporate News
Enphase sees soft solar market rebounding despite weak sales
Solar equipment giant Enphase Energy Inc sees the sluggish US rooftop market rebounding this year even as the company forecast disappointing sales for the second quarter.
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Corporate News
UK firms told to ‘urgently review’ green claims
Firms operating in Britain are being advised to go through any products and services around which some sort of sustainability claim has been made, to ensure they’re not in the crosshairs of a regulatory crackdown that’s due to take effect at the end of next month.
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Economy
Singapore's core inflation cools more than expected
Singapore’s core inflation eased more than expected in March as prices of food and services rose at a slower pace, with overall inflation dropping to a 2½-year low.
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Corporate News
Chinese knockoff raid jolts a throng of fake-fashion influencers
Christmas came early last year for Brandon Lee King, a youthful online influencer who lives near Birmingham, England.
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Insight
‘Overcapacity’ an excuse to target ‘Made-in-China’
Recently, some US and EU officials have said China’s overcapacity distorts global pricing and production patterns. Concur-rently, the Joe Biden administration is considering imposing high tariffs on Chinese steel and aluminum, potentially opening a new front in the ongoing trade conflicts in order to contain Beijing’s “Made in China” drive.
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Insight
Has Wall Street peaked too early this year?
History suggests Wall Street’s recent 5% mini-correction won’t be its last this year but stocks face potentially higher earnings and interest rate hurdles in the second half of the year if investors’ bullish expectations are to be met.
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Corporate News
Seven Group mulls takeover of Cleanaway Waste
Australian industrial conglomerate Seven Group Holdings Ltd is exploring an acquisition of Cleanaway Waste Management Ltd, one of the country’s biggest waste disposal firms, according to sources.
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Markets
Nasdaq, S&P set to open higher on tech boost, earnings glee
THE S&P 500 and the Nasdaq were set to open higher on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support.
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Corporate News
Sasbadi reports highest ever quarterly revenue
PETALING JAYA: Sasbadi Holdings Bhd reported its highest-ever quarterly revenue of RM35.02mil for the second quarter ended Feb 29, 2024 (2Q24), due to the robust sales of its academic publications for the 2024 academic year.
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Corporate News
Aneka Jaringan leverages order book for growth
KUALA LUMPUR: Aneka Jaringan Holdings Bhd will capitalise on its current order book of RM233.16mil as of Feb 29, 2024, prioritising the timely completion of ongoing projects to maintain its momentum moving forward, according to managing director Pang Tse Fui.
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Corporate News
Chin Hin Group to develop two lands with combined GDV of RM1.08bil
KUALA LUMPUR: Chin Hin Group Property Bhd’s (CHGP) unit, Chin Hin Property (Segambut) Sdn Bhd has inked an agreement with New York Empire Sdn Bhd and Kar Sin Bhd to develop a freehold land in Segambut, Kuala Lumpur, with an estimated gross development value (GDV) of RM685.1 million.
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Corporate News
CLMT 1Q net profit rises to RM33.49mil on higher occupancies, positive rental reversions
KUALA LUMPUR: CapitaLand Malaysia Trust's (CLMT) net profit for the first quarter ended March 31, 2024 (1Q 2024) rose to RM33.49 million from RM12.04 million a year earlier.
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Forex
Ringgit ends marginally lower on firmer US dollar index
KUALA LUMPUR: The ringgit closed marginally lower on Wednesday on firmer US dollar Index (DXY) despite the sluggish United States (US) manufacturing Purchasing Managers' Index (PMI) data yesterday.
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Business
MoF: Govt to establish high-level facilitation platform to oversee potential, approved strategic investments
KUALA LUMPUR: A meeting with 70 financial fund investors and corporate members at the recently concluded Joint Investors Meeting in London has touched on the MADANI government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MoF).
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Corporate News
Meta Bright signs RM24mil leasing contract with Australia company
PETALING JAYA: Meta Bright Group Bhd (MBGB), via its wholly-owned Australian subsidiary Meta Bright Australia Pty Ltd, has secured a new equipment leasing contract from Australian copper mining company Mt Cuthbert Resources Pty Ltd (MCR).
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Corporate News
OCR Group to develop RM313mil residential project in Rawang
KUALA LUMPUR: OCR Group Bhd’s indirect subsidiary OCR Templer Sdn Bhd plans to develop a landed residential project on 7.44 hectares in Templer, Rawang, with an estimated gross development value (GDV) of RM313 million.
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Corporate News
Legacy Credit emerges as substantial shareholder in VCI Global
KUALA LUMPUR: Legacy Credit Sdn Bhd announced a significant investment exceeding a 5% stake through a private placement in Nasdaq-listed VCI Global Limited.