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Straits Times
17-07-2025
- Business
- Straits Times
Singapore shares continue winning streak; STI up 0.7%
Find out what's new on ST website and app. SINGAPORE – The winning streak continues apace for local shares, with the bourse up for the fourth day straight on July 17. Investors clearly have the bit between their teeth given yet another bumper close for the benchmark Straits Times Index (STI), this time rising 0.7 per cent or 29.18 points to 4,161.43. Gainers left losers in the dust to the tune of 358 to 198 on trade of 1.9 billion securities worth $1.4 billion. DFI Retail Group led the STI winners, surging 4 per cent to US$3.12, while Thai Beverage was at the bottom of the table, down 1.1 per cent to 47 cents. Singtel was the most actively traded by volume, with 35.5 million shares done. The counter, which was trading on a cum-dividend basis, gained 3 per cent to $4.17. The STI's rise reflected a positive session both on Wall Street and most regional markets after US President Donald Trump backtracked on reports that he was planning to fire Federal Reserve chair Jerome Powell. The two have clashed over the pace of interest-rate cuts. US shares fell early on but rebounded on that Trump backtrack. The Dow Industrials added 0.5 per cent, the S&P 500 advanced 0.3 per cent and the Nasdaq rose 0.3 per cent to close at its third-straight record. Top stories Swipe. Select. Stay informed. Singapore Fatal abuse of Myanmar maid in Bishan: Traffic Police officer sentenced to 10 years' jail Singapore Man charged over manufacturing DIY Kpods at Yishun home; first such case in Singapore Singapore HSA launches anti-vaping checks near 5 institutes of higher learning Business 5 things to know about Kuok Hui Kwong, tycoon Robert Kuok's daughter and Shangri-La Asia head honcho Singapore Jail for elderly man for using knife to slash neighbour, who later died of heart disease Singapore $7,000 fine for eatery chain involved in ByteDance food poisoning case World UK to lower voting age to 16 in landmark electoral reform Opinion Grab tried to disrupt taxis. It now wants to save them Regional bourses mostly rose. Japan's Nikkei 225 added 0.6 per cent, South Korea's Kospi advanced 0.2 per cent and the ASX 200 in Australia gained 0.9 per cent for its best day in three weeks. Market fluctuations showed that Mr Trump's attempt to challenge the Fed's independence was not welcome, said Mr Vishnu Varathan at Mizuho Securities.
Business Times
17-07-2025
- Business
- Business Times
Singapore shares continue winning streak; STI up 0.7%
[SINGAPORE] The benchmark Straits Times Index (STI) extended its winning streak on Thursday (Jul 17), tracking gains in regional markets. The STI rose 0.7 per cent or 29.18 points to close at 4,161.43 – reaching a high for a fourth consecutive trading day. This was after hitting an intraday peak of 4,163.45. Across the broader market, advancers outnumbered decliners 358 to 198, after 1.9 billion securities worth S$1.4 billion were traded. The top gainer on the blue-chip index was DFI Retail Group , which rose 4 per cent or US$0.12 to US$3.12. The biggest decliner was Thai Beverage . The counter fell 1.1 per cent or S$0.005 to S$0.47. Local telco Singtel was the most actively traded counter by volume, with 35.5 million shares worth S$147.1 million changing hands. The counter, which was trading on a cum dividend basis, gained 3 per cent or S$0.12 to close at S$4.17. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Regional markets ended Thursday mostly higher after US President Donald Trump backtracked on news reports that he was planning to fire Federal Reserve chair Jerome Powell. The two have clashed over the pace of interest-rate cuts, with Trump calling for quicker action and Powell taking a more cautious stance. Japan's Nikkei 225 ended up 0.6 per cent, South Korea's Kospi rose 0.2 per cent, and Australia's ASX 200 gained 0.9 per cent. Market movements showed that Trump's attempt to challenge the Fed's independence was not welcome, said Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho Securities. While the news reports may have been an attempt by the president's administration to gauge how markets would react to Powell's removal, Varathan warned that the 'real danger' lies in Trump viewing the market drop as acceptable, which could embolden him to make further attacks on Powell and the Fed's independence.
Business Times
15-07-2025
- Business
- Business Times
Singapore shares rise, tracking regional gains; STI up 0.3%
[SINGAPORE] The benchmark Straits Times Index (STI) continued its record-breaking streak for a second day running to close higher on Tuesday (Jul 15). The STI rose 0.3 per cent or 10.61 points to 4,119.82, after hitting an intra-day high of 4,129.77. Across the broader market, advancers outnumbered decliners 370 to 163, after 1.8 billion securities worth S$1.4 billion were traded. The top gainer on the benchmark index was investment company Jardine Matheson Holdings which rose 3.9 per cent or US$1.92 to US$51.45. The biggest decliner was property developer UOL . The counter fell 1.3 per cent or S$0.09 to S$6.75. Beverage distributor Thai Beverage was the most actively traded counter by volume, with 56.2 million units worth S$26.7 million traded. The counter rose 1.1 per cent or S$0.005 to S$0.475. Regional bourses mostly ended Tuesday higher. Japan's Nikkei 225 was up 0.6 per cent and Hong Kong's Hang Seng Index up 1.6 per cent. Australia's ASX 200 was up 0.7 per cent, while South Korea's Kospi was up 0.4 per cent. Stephen Innes, managing partner of SPI Asset Management, said that market watchers still expect the US Federal Reserve to reduce interest rates this year. However, whether the rate cuts will be a 'smooth descent' depends on the level of inflation, he added. If the US tariffs affect the prices of household goods and durable consumption, driving up the upcoming figures for the US Consumer Price Index – which is an indicator for inflation – cuts to interest rates might be thrown off course, Innes noted.
Yahoo
25-06-2025
- Business
- Yahoo
Thai Beverage's controlling family sets out shareholding changes
Charoen Sirivadhanabhakdi, Thailand's richest man and the controlling investor in drinks giant Thai Beverage, has outlined changes to the company's shareholder structure. According to a series of documents lodged with the Singapore Stock Exchange, Charoen has passed his stakes in holding firms that own the majority of ThaiBev to his children. The holding companies own around 66% of the Chang beer and Larsen Cognac maker. Charoen, 81, has transferred the stakes in the firms to his five children, the filings show. However, as part of the changes, the children have activated an agreement that will confer on Charoen 'the authority to manage and make all decisions in respect of the business and assets' of the group. ThaiBev is part-way through its current financial year. In the six months to the end of March, revenue grew 1% to Bt117.62bn (US$3.6bn). Net profit was down 9.2% at Bt17.77bn. Sales were 'mainly driven' by ThaiBev's beer and non-alcoholic drinks businesses, the Bia Siagon brewer said. The Old Pulteney whisky maker's spirits business is its largest when measured by sales. In the period to the end of March, sales from spirits dropped 1.5% to Bt64.52bn, with volumes down 1.9%. The division's net profit dropped 10.3% to Bt11.6bn. In January, International Beverage, ThaiBev's international arm, snapped up full ownership of Asiaeuro International Beverage to accelerate growth in Asia, with a particular focus on China. AIB was established in 2018 as a joint venture between International Beverage and Asia Group Corporate Limited, to bolster the ThaiBev subsidiary's route to market in Greater China. In ThaiBev's 2023/24 financial year, which ran to 30 September last year, revenue grew 2.2% to Bt340.29bn. Net profit inched up 0.6% to Bt35.27bn. Last July, ThaiBev struck a share-swap agreement to increase its stake in Singapore-based food and drinks producer Fraser & Neave (F&N). The deal saw ThaiBev's stake in F&N rise from 28.21% to 69.61%. "Thai Beverage's controlling family sets out shareholding changes" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
24-06-2025
- Business
- Business Times
Billionaire leaves ownership of Thai beermaker to five children
[BANGKOK] Thailand's richest man Charoen Sirivadhanabhakdi distributed stakes in holding firms which control about 66 per cent of Thai Beverage to his five children, though stopped short of handing over full control of the drinks giant. The scions of the octogenarian billionaire put into effect a shareholders' agreement which will confer on their father 'the authority to manage and make all decisions in respect of the business and assets' of the entity, according to filings to the Singapore exchange late on Monday (Jun 23). That move means that a key question over who will ultimately take over Charoen's sprawling business empire remains unanswered, as a succession plan gathers pace. The tycoon is worth an estimated US$10.9 billion, according to the Bloomberg billionaires Index. A cornerstone of that is Thai Beverage, the maker of Chang beer, which also operates distilleries across Scotland. The share transfer is part of a longer term shift in the holdings of the patriarch and his late wife Khunying Wanna Sirivadhanabhakdi as succession beckons. The company did not immediately respond to a request for comment. Thapana Sirivadhanabhakdi, his elder son, is ThaiBev's current chief executive officer. The restructuring means he will share the family's controlling stake in the firm with his brother, Panote Sirivadhanabhakdi, who's the CEO of Singapore-listed property developer Frasers Property, as well as three sisters – Atinant Bijananda, Wallapa Traisorat and Thapanee Techajareonvikul. Thapanee is the CEO of Berli Jucker – a conglomerate with interests including grocery retailer Big C, while Wallapa helms Asset World, a Thailand-focused hospitality firm. BLOOMBERG
