Toyota Announces Production Plans in February 2022, as of January 18
Toyota City, Japan, Jan 18, 2022 - (JCN Newswire via SEAPRWire.com) - At Toyota, we have made repeated adjustments to our production plans due to a parts shortage resulting from the spread of COVID-19, causing various inconveniences to our customers and all parties concerned. We would like to express our gratitude to everyone involved for their immense support in helping us maintain production.Our global production plan in February 2022 is expected to be around 700,000 units. Current demand is very strong, therefore we were aiming for a high February production plan. However, due to the impact of the continuing demand for semiconductors across all industries, we have adjusted our production plan by around 150,000 units globally.As a result of the revision, the full-year production forecast for the fiscal year ending March 31, 2022 is expected to be lower than the previous forecast of 9 million units.With regards to the shortage of semiconductor-related parts, we will continue to examine the situation and consult with all companies involved in considering the use of substitutes where possible in anticipation of a continuing shortage.We will also continue to work with our suppliers i...
Showa Denko Revises Forecast of Consolidated Performance and Records Extraordinary Loss
TOKYO, Aug 3, 2021 - (JCN Newswire via SEAPRWire.com) - Showa Denko (SDK; TSE:4004) announces that it revises its forecast of consolidated business results for the first half of the year ending on December 31, 2021 and that for the full year ending on December 31, 2021, both of which were announced on July 8, 2021. SDK also announces that it will record extraordinary loss.1. Revision of forecast of consolidated business results for January 1 - June 30, 2021(1) Revised forecast of consolidated business results for January 1 - June 30, 2021Please see www.sdk.co.jp/assets/files/english/news/2021/20210803_sdknewsrelease_e.pdf(2) Reasons for the revisionNet sales hovers around the level of the previous forecast. However, operating incomes of all segments except the Others segment are expected to increase. Especially in the Showa Denko Materials segment, operating income is expected to increase due to a continuously tight supply-demand situation regarding its semiconductor related business. Also in the Petrochemicals segment, operating income is expected to increase due to higher-than-expected product prices resulting from a rise in raw naphtha price. As a result, our ordinary income is ...
SEA faces long road back to pre-pandemic growth but Singapore to buck trend: Survey
HONG KONG (BLOOMBERG) - The prolonged Covid-19 pandemic is clouding economic projections for South-east Asia, with most countries not expected to return to pre-pandemic growth levels for several years. The Philippines will see the largest decline in average annual gross domestic product (GDP) growth in the three years ending 2022 - more than five percentage points - compared with 2019, the last full year before the Covid-19 outbreak, according to median estimates of economists surveyed by Bloomberg. Major economies in South-east Asia expect to grow this year and next, but more slowly than before the pandemic. New local outbreaks and tightened lockdowns have prompted economic downgrades, with most countries reporting their economies contracted in the first three months of the year. Singapore is expected to be the lone country in the region to buck the trend, forecast to grow GDP by an average of 1.67 per cent in 2020-2022, compared to 1.3 per cent in 2019, amid a strong post-pandemic rebound in global trade, said Mr Arjen van Dijkhuizen, senior economist at ABN Amro. The return to normal of international tourism, expected in 2023, could be a key moment for South-east Asia. Indonesia...
Tech shares lead Nasdaq to record as markets await Fed decision
NEW YORK (AFP) - Major US indices finished at fresh records Monday (June 14) as global equity markets began the week cautiously ahead of a much-anticipated Federal Reserve meeting. Both the S&P 500 and Nasdaq ended at all-time highs, benefiting from a resurgence in technology shares. The first session of the week reflected the latest pivot after a stretch earlier in the year when tech shares lagged other sectors such as financial companies and manufacturers. Investors now appear to be taking profits on some of those bets, and steering funds back into large tech names, which outperformed other sectors earlier in the pandemic. Apple, Facebook and Netflix all gained at least one per cent. This week’s calendar is dominated by the Federal Reserve’s two-day policy meeting, which is expected to show central bankers raising their inflation forecasts. The Fed is expected to maintain its current easy money policy, but central bank chief Jerome Powell will face myriad questions about rising prices during the news conference following the meeting’s conclusion on Wednesday. While no change in the bank’s lending rate is expected, Powell could offer more assurances that the Fed will be vigilant a...
1,000 positions set to be filled at firm’s new S-E Asia HQ here
Gaming hardware and fintech firm Razer will hire for about 1,000 positions for its new South-east Asia headquarters at Singapore's one-north technology business park. The firm's chief executive Tan Min-Liang wrote about the decision in a LinkedIn post yesterday morning. It is, however, unclear what type of positions those will be, and whether they will be contract, temporary or full-time positions. Mr Tan also did not mention the firm's timeline for hiring. Razer declined to comment. The Hong Kong-listed company first announced plans for its regional headquarters in December 2018. The $100 million building was expected to have 19,300 sq m of office space, research and development labs, and design studios across seven storeys. Boustead Projects' joint venture company is the developer for the project. Echo Base, a start-up backed by Mr Tan that aims to incorporate next-generation technologies in real estate developments, was announced to be involved in the project as well. Razer currently has an office in Chai Chee industrial estate. The new one-north headquarters was originally expected to be ready for moving in by the middle of last year, but the official opening has been shifted t...
UK Advertising spend to recover faster than key international markets in 2021
LONDON, Jan 26, 2021 - (ACN Newswire) - The latest Advertising Association/WARC Expenditure Report expects the UK's ad market to grow by 15.2% this year, an upgrade of 0.8 percentage points from the last forecast in October 2020. The preliminary estimate for growth in 2020 now stands at -7.9% with adspend of GBP 23.17bn - a marked improvement (+6.6 percentage points) since the last outlook owing mostly to brighter prospects for online platforms.The new forecasts show that the UK's ad market will make up for 2020's decline and accelerate further into growth this year, reaching a total of GBP 26.69bn - above the previous high of GBP 25.37bn recorded in 2019. Further, the decline seen in the UK's ad market during 2020 is estimated to be softer than the global rate (-10.2%) and that of the rest of Europe (-13.7%). The UK's projected ad market growth in 2021 is also expected to be ahead of key international markets, with the US expected to grow 3.8%, Germany 9.3%, Europe (excluding UK) 8.8%, and China 10.3%.Internet adspend leads to stronger Q3 2020 performanceThe latest dataset includes actual figures for Q3 2020 and predictions for the coming eight quarters. The key findings show that...
ZONBONG LANDSCAPE Environmental Limited(1855.HK) Announces its Global Offering
HONG KONG, Dec 22, 2020 - (ACN Newswire) - The established service provider for landscaping and ecological restoration projects in the Three Northeast Provinces of the PRC - ZONBONG LANDSCAPE Environmental Limited (the "Company", together with its subsidiaries, the "Group", stock code: 1855), announces details of its Global Offering and listing on the Main Board of the Stock Exchange of Hong Kong Limited ("Hong Kong Stock Exchange").ZONBONG LANDSCAPE Environmental Limited plans to offer an aggregate of 68,750,000 Shares (comprising 55,000,000 new Shares and 13,750,000 Sale Shares, and subject to the Over-allotment Option) under the Global Offering, of which 6,876,000 Shares (subject to reallocation) will be offered in the Hong Kong Public Offering, and 61,874,000 Shares (comprising 48,124,000 new Shares and 13,750,000 Sale Shares, and subject to the Over-allotment Option and reallocation) will be offered by way of International Placing. The Offer Price will not be more than HKD2.42 per Offer Share and is expected to be not less than HKD1.90 per Offer Share. The Hong Kong Public Offering will commence on Tuesday, 22 December 2020 and is expected to close at 12:00 noon (at 11:30 a.m....
US food delivery giant DoorDash raises $4.5 billion in above-range IPO
NEW YORK (BLOOMBERG) - DoorDash raised US$3.37 billion (S$4.5 billion) in an initial public offering (IPO) above its marketed range, according to people familiar with the matter. The San Francisco-based company sold 33 million shares on Tuesday (Dec 8) for US$102 each after marketing them for US$90 to US$95 each, said the people, who asked not to be identified because the information wasn't public yet. At that price, DoorDash has a fully diluted value of about US$38 billion, which includes employee stock options and restricted stock units. DoorDash's IPO is one of the largest US tech listings this year. The company is part of a cadre of consumer-facing, web-based businesses that are expected to go public in December - including home-rental platform Airbnb, which is set to price its IPO on Wednesday. Others include video-game company Roblox Corp, installment loans provider Affirm Holdings and ContextLogic, the parent of online discount retailer Wish. Food delivery start-up DoorDash has seized on the pandemic-fueled boom in demand for meals brought to your door, as well as investor exuberance over new stock listings as it moves ahead with its IPO. Revenue in the first nine months of ...
Singapore economy shrank 5.8% in Q3, better than estimate; 4% to 6% growth forecast for 2021
SINGAPORE - Singapore's economy will rebound in 2021, helped by a low base, but it will probably not return to pre-Covid levels until the end of next year. The economy will contract by 6.5 to 6.0 per cent in 2020, compared to the previous estimate of -7 to -5 per cent, the Ministry of Trade and Industry said on Monday (Nov 23) while presenting the Economic Survey of Singapore. The forecast for 2020 has been narrowed due to Singapore's better than expected economic performance in the first three quarters, said Mr Gabriel Lim, Permanent Secretary for Trade & Industry, in his opening remarks at a virtual press briefing on Monday. The economy is expected to grow by 4.0 to 6.0 per cent in 2021, helped by continued expansion of trade and manufacturing and a gradual recovery in construction and aviation- and tourism-related sectors, he said. "While growth is expected to rebound from the low base this year, our economic recovery is expected to be gradual, with GDP not likely to return to pre-Covid levels until the end of 2021," Mr Lim noted. "Furthermore, there remains uncertainty over how the Covid-19 situation will evolve globally in the year ahead, which will depend in part on the progr...