Derryn Wong

Singapore

Correspondent at The Business Times (Singapore)

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Articles

Changan, Huawei and CATL's luxury EV brand Avatr to be distributed by Premium Automobiles in Singapore

1 week ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] China luxury electric vehicle (EV) brand Avatr will be distributed and sold by Premium Automobiles in Singapore. Lee Hoe Lone, Premium Automobiles' managing director, told The Business Times that the brand will be officially launched in the Republic in late July or early August. The brand's first model, the Avatr 11 sport utility vehicle (SUV), will debut at the same time, with another SUV, the Avatr 07, to follow in 2025.
Elaine Heng to succeed Linus Goh as OCBC's head of global commercial banking

1 week ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] OCBC announced on Tuesday (May 27) key leadership changes to its global wholesale banking franchise, to take effect on Oct 1. Elaine Heng, now OCBC's group chief strategy and transformation officer, will succeed Linus Goh, the current head of global commercial banking who retires on Sep 30. Tan Yuen Siang, currently OCBC's head of global financial institutions, will join the global wholesale banking leadership team.
Boustead's H2 profit up 48 per cent to S$59.1 million

1 week ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] Engineering and technology group Boustead Singapore's net profit for the six months ended Mar 31, 2024 increased 58 per cent to S$59.1 million compared to the year-ago period. This came despite revenue decreasing 42 per cent to S$231.9 million over the same time frame. On a per-share basis, earnings for the half were 12 Singapore cents, up from 7.8 Singapore cents in the year-ago period.
Maybank Q1 net profit rises 4% to RM2.6 billion

1 week ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] Maybank's net profit for the quarter ended Mar 31, 2025, increased 4 per cent to RM2.6 billion (S$790 million), up from RM 2.5 billion in the previous corresponding period. Earnings per share increased to 21.45 sen, from 20.63 sen in the year-ago period. Return on equity was 11.3 per cent, up from 10.8 per cent in Q1 FY2024.
The Hour Glass H2 profit falls 6% to S$74.4 million on increased operating expenses

2 weeks ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] The Hour Glass has reported a 6 per cent drop in net profit to S$74.4 million in the six months ended March 2025, from S$79.5 million in the year-ago period. Revenue was at S$622.6 million, up 9 per cent year on year from S$571.3 million. Earnings per share stood at 11.48 Singapore cents for the half-year period, down from 12.17 cents previously.
Yangzijiang Shipbuilding order wins dip to US$0.3 billion

2 weeks ago | businesstimes.com.sg | Derryn Wong

This is down from US$3.3 billion in the year-ago period, but vessel deliveries remain on track Published Thu, May 22, 2025 · 06:54 PM [SINGAPORE] Marine vessel manufacturer Yangzijiang Shipbuilding reported that its year-to-date order wins for the first quarter of 2025 amount to six vessels worth US$300 million. This is around 5 per cent of its US$6 billion target for the 2025 financial year, it said in a quarterly business update on Thursday (May 22).
DBS' Tan Su Shan ranked sixth in Fortune's list of the most powerful women in business

2 weeks ago | businesstimes.com.sg | Derryn Wong

She is the only Singaporean to break into the top 10 Published Wed, May 21, 2025 · 08:42 PM [SINGAPORE] Tan Su Shan, chief executive officer (CEO) of DBS, has been named the sixth most powerful woman in business in Fortune magazine's 2025 100 Most Powerful Women in Business list. In the top 10, she is the only Singaporean and one of two Asian-based business leaders alongside Huawei chief financial officer Meng Wanzhou, who ranked 10th.
Large car COE premium down S$3,000 as most categories dip

2 weeks ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] Premiums for most Certificates of Entitlement (COEs) categories retreated in May's second round of bidding, with the mainstream-car category remaining almost unchanged, and the large-car category posting the biggest drop. This comes as passenger car COE premiums have been on the up since February, with the mainstream-car category setting new records in the preceding two rounds of bidding by cracking the S$100,000 mark.
3,000 new jobs to come in public transport sector, including digital, electrification roles : Chee

2 weeks ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] More than 3,000 new jobs will be added to Singapore's public transport sector in the coming years, said Transport Minister Chee Hong Tat on Tuesday (May 20). There will be around 2,000 jobs in rail and 1,000 jobs related to bus services. There will be a demand for varying roles as well - not just conventional ones - including digital and electrification specialists.
The Polestar 3 is an SUV for people who care

3 weeks ago | businesstimes.com.sg | Derryn Wong

WHILE electric car maker Polestar focuses on making motoring sustainable, it is reinventing the Sport Utility Vehicle (SUV) in order to sustain its own sales growth. The Nasdaq-listed company, a Volvo Cars spin-off, unveiled the Polestar 3 at a glitzy event in Denmark on Oct 12 as part of its plan to grow annual sales to 125,000 cars next year, two-and-a-half times this year's target of 50,000. It aims to sell 290,000 vehicles a year by the end of 2025.