Latest news with #JardineMatheson
BusinessToday
4 days ago
- Business
- BusinessToday
SGX Hits Record High As Broad Market Gains Fuel Weekly Rally
The Singapore stock market closed the week on a high note, with the Straits Times Index (STI) surging to a new all-time high amid strong gains across all major sectors. Investor sentiment remained upbeat, driven by institutional inflows, solid corporate fundamentals, and renewed interest in local IPOs. The STI advanced from approximately 4,130 at the start of the week to end July 18 at 4,161.43, notching a 2.8% weekly gain and rising 0.7% in the final trading session. During intraday trade, the index touched a record peak of 4,163.45, underscoring bullish momentum in Singapore equities. All 11 sectors on the Singapore Exchange (SGX) posted gains over the week, with Industrials (5.1%), Technology (4.7%) and Healthcare (4.6%) leading the charge. The financial sector also contributed to the rally, supported by steady performance from heavyweight banks and conglomerates. Top blue-chip performers included Jardine Matheson (1.3%), DBS (0.66%), OCBC (1.46%) and UOB (0.60%). Mid- and small-cap stocks also saw heightened activity and outsized gains, with names like Food Empire (6.6%), Seatrium (5.8%), Cortina (6.8%), Banyan Tree (8.7%) and Digilife (8.1%) among the standout movers. The strong performance was bolstered by ongoing institutional buying, with investors rotating into growth and cyclical names on expectations of improving regional economic activity. Optimism surrounding recent IPOs, particularly the successful listing of NTT DC REIT, also lifted market sentiment. Looking ahead, the market's broad-based rally and record-setting performance suggest strong underlying momentum, though analysts caution that valuations are becoming stretched. Focus will now shift to upcoming corporate earnings and macroeconomic data to gauge the sustainability of the rally. Related
Business Insider
15-07-2025
- Business
- Business Insider
Jardine Matheson upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Jardine Matheson (JMHLY) to Overweight from Neutral with a price target of $57, up from $44. The firm sees a return to earnings growth and potential upside surprises from the company's new CEO. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
South China Morning Post
07-07-2025
- Business
- South China Morning Post
Power play in Chinese family firms: insiders vs. outsiders
[The content of this article has been produced by our advertising partner.] Advertisement History has shown the instrumental role of family businesses in the economy. A 2025 index from EY shows that 500 global family businesses earn US$17.6 billion annually, with 80 per cent yielding more than US$5 billion. Many of them are headquartered in Asia, including Hong Kong with household names like Jardine Matheson, Sun Hung Kai Properties, Chow Tai Fook and the like. It is natural to have family members in executive roles to ensure the firms continue their legacy and identity. On the other hand, family firms often hire professionals outside the family at top management levels to sustain growth and remain competitive. The firms' success then depends on how well these family and non-family managers collaborate, combining their unique skills and perspectives to create a competitive edge. Inevitably, hypothetical dividing lines or faultlines emerge between the two that can impact company performance in various ways. While these divisions can lead to conflicts and impair operations, they can also enhance information sharing and positively affect the firms' earnings, like a double-edged sword. The question is, how far can these lines affect the dynamics of family firms? 'While family and non-family managers collaborate as members of the same team, they differ significantly in terms of family affiliation, personal goals, and the treatment they receive from the controlling family,' says Dora Lau, Associate Professor (Teaching) in the Department of Management at the Chinese University of Hong Kong (CUHK) Business School. Advertisement To explore the implications of this division among Chinese family firms, Professor Lau conducted a study titled Top management team faultline size and family firm performance, in collaboration with Li Wenwen of Sun Yat-Sen University, He Ai of South China University of Technology and Li Xiaotong of Qingdao University of Science and Technology. 'The study found that large demographic faultlines between family and non-family managers would benefit firm performance,' Professor Lau says.
Yahoo
18-06-2025
- Business
- Yahoo
AM Best Affirms Credit Ratings of PT Asuransi Astra Buana
SINGAPORE, June 18, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent), the Long-Term Issuer Credit Rating of "a-" (Excellent) and the Indonesia National Scale Rating (NSR) of (Exceptional) of PT Asuransi Astra Buana (Asuransi Astra) (Indonesia). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Asuransi Astra's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The ratings also factor in a neutral impact from Asuransi Astra's ultimate parent, Jardine Matheson Holdings Limited (Bermuda). Asuransi Astra's balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level as of year-end 31 December 2024, as measured by Best's Capital Adequacy Ratio (BCAR), and is expected to remain at this level over the medium term. The company's capital adequacy is supported by its consistently robust internal capital generation and low net underwriting leverage. AM Best views Asuransi Astra's investment portfolio to be of moderate risk, with a majority of investments allocated to bonds and mutual funds, comprising mainly domestically rated bond funds. An offsetting balance sheet strength factor is the company's elevated counterparty credit risk due to its exposure to domestic reinsurance companies not rated on an international FSR scale. AM Best also views Asuransi Astra's operating performance as strong, demonstrated by its five-year average combined ratio of 87.9% and return-on-equity ratio of 17.4% (2020-2024). Underwriting performance remained favourable in 2024, with the company reporting a combined ratio of 87.2%, supported by profitable business from its parent group, PT Astra International Tbk (Astra group). Investment returns remain a stable contributor to the company's overall earnings. Prospectively, AM Best expects Asuransi Astra to continue delivering a strong operating performance, supported by favourable underwriting performance and robust investment income. AM Best assesses Asuransi Astra's business profile as neutral. Asuransi Astra is a large insurance organisation in Indonesia, ranking second in the country's general insurance market based on 2024 gross premiums written. Asuransi Astra benefits from being a subsidiary of the Astra group, having preferential access to business from it, especially in the motor line of business. The company's portfolio is viewed to be diversified by line of business with key lines being motor, personal accident and health, and fire insurance, although with geographic concentration in Indonesia. Asuransi Astra has moderate distribution channel concentration to a financial leasing company, mainly in respect of its motor insurance business. Notwithstanding, distribution channels are viewed to be broadly diversified for the non-motor insurance business. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Ong Xin Ya Associate Financial Analyst +65 6303 5024 Victoria Ohorodnyk Director, Analytics +65 6303 5020 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Sign in to access your portfolio
Straits Times
13-06-2025
- Business
- Straits Times
Singapore shares fall on Friday amid Middle East tensions; STI down 0.3%
Dip in STI mirrors loss in global equity markets on fears Israel's strikes on Iran could stoke wider regional conflict. ST PHOTO: BRIAN TEO SINGAPORE – Local shares dipped on June 13 after escalating conflict in the Middle East prompted investors to sell up and reduce their risk exposure ahead of the weekend. There was hardly a rush to the exits, but the sell-off did leave the Straits Times Index (STI) down 0.3 per cent or 10.78 points at 3,911.42 with losers easily outstripping gainers 359 to 160 on trade of one billion securities worth $1.3 billion. Jardine Matheson was the top blue-chip gainer, rising 1.8 per cent to US$45.44, while Seatrium was the biggest decliner, down 2.8 per cent to $2.06. The local banks fell. DBS dropped 0.5 per cent to $44.45, OCBC closed 0.5 per cent down at $16.06 and UOB shed 0.4 per cent to $34.95. The Israeli strikes on Iran also sent Asian and European stocks tumbling while US index futures slipped in pre-market trade. Investors also rushed to safer assets and helped send gold and the greenback higher. 'Oil and defence stocks will likely benefit from rising tensions, but the rest of the market should remain under pressure,' said Swissquote Bank analyst Ipek Ozkardeskaya. Most regional markets declined and many took a bigger hit than the STI. China's Shenzhen Component led the losers, shedding 1.1 per cent, while South Korea's Kospi and the Nikkei 225 in Japan each shed 0.9 per cent. Australian shares got off relatively lightly, with the ASX 200 index closing down 0.2 per cent Wall Street traders, who were mostly off duty when the air strikes occurred, were focused on the bond market in a positive trading session overnight, with investors growing more confident that another cut in interest rates is imminent. Stocks, meanwhile, dipped in early trading before reversing course in the afternoon, with investors giving little heed to new threats of tariffs from President Trump. The S&P 500 led gains, rising 0.4 per cent, while the Dow Jones Industrial Average and Nasdaq each climbed 0.24 per cent. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
