Tata Steel Reports 2.5x Profit Growth
Tata Steel reported a 2.5x YoY jump in net profits to INR 95.7bn ($1.3bn) for the quarter ended December. Consolidated revenues stood at INR 608bn ($8.1bn), up 45% YoY. With improved steel demand on the back of an economic and commodity recovery, the company said that...
Mapletree Commercial to Merge with Mapletree North Asia in $3.1bn Deal
Temasek’s commercial units of Mapletree are set to merge in an SGD 4.2bn ($3.1bn) deal. Mapletree Commercial Trust (MCT) plans to buy Mapletree North Asia Commercial Trust (MNACT) either through cash-and-scrip or a scrip-only consideration. The consideration...
SIA Trims 1H Loss to $617mn; VTL Boosts Revenues to $2.1bn
Singapore national carrier Singapore Airlines (SIA) reported improving numbers for H2 ended September with revenues rising 73% YoY to S$2.83bn ($2.09bn), and operating and net loss narrowing 66.8% and 75.9% to S$619.4mn ($457mn) and S$836.8mn ($617.5mn) respectively....
ESR REIT & ARA Logos Plan $1bn Merger
Singapore-based ESR-REIT and ARA Logos Logistics Trust have proposed a S$1.4bn ($1bn) merger that involves ESR acquiring all of ARA Logos’ units in exchange for cash and new units. The transaction will be effected by way of a trust scheme of arrangement with a...
