<div class=newsTextDataWrapInner><p>SINGAPORE (May 28): DBS and Standard Chartered have executed the industry’s first interbank option trade referencing the Singapore Overnight Rate Average (SORA).</p></div>

<div class=newsTextDataWrapInner><p>In a joint press statement dated May 28, the banks disclosed that the interbank option trade was done on behalf of a global real estate group to manage the potential market risk arising from a SORA interest rate option.</p></div>

<div class=newsTextDataWrapInner><p>The SORA interest rate option is designed to help<a href="https://www.theedgesingapore.com/news/banking-finance/dbs-and-standard-chartered-execute-singapore%E2%80%99s-first-sora-referenced-interbank" target="_blank"><em>...(click on link for full story on theedgesingapore.com)</em></a></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>


SINGAPORE (May 28): DBS and Standard Chartered have executed the industry’s first interbank option trade referencing the Singapore Overnight Rate Average (SORA).

In a joint press statement dated May 28, the banks disclosed that the interbank option trade was done on behalf of a global real estate group to manage the potential market risk arising from a SORA interest rate option.

DBS, StanChart execute Singapore’s first SORA-referenced interbank option trade

Israeli foreign minister Gideon Saar met Dutch Justice Minister David van Weel and far-right leader Geert Wilders in Amsterdam on Friday afternoon to discuss the assaults on Israeli soccer supporters in the city.

Israeli foreign minister meets Dutch justice minister, far-right leader after assaults

About one-tenth of the US labour force is working in the gig economy, a share that’s held steady from the pre-pandemic years, a new government study found.
 
The so-called gig economy employs some 15.5 million people or 10.2% of the labour force, according to a Bureau of Labor Statistics (BLS) report published on Friday that’s based on a special supplement to the Current Population Survey for July 2023.

America’s gig economy workforce holds steady around 10% of total

German Chancellor Olaf Scholz signalled he’s open to discussing the timing of an early election as long as opposition lawmakers back legislation he wants to pass before his term ends.

After dismantling his coalition with the Greens and Free Democrats on Wednesday and losing his Bundestag majority, Social Democrat Scholz said he was ready to submit to a confidence vote on Jan 15, the first step in triggering a new national ballot in March.

Scholz says ready to discuss timing of snap German election

Invesco Advisers Inc will pay a US$17.5 million (RM77.07 million) fine to settle US Securities and Exchange Commission (SEC) allegations that it misled clients about the share of company-wide assets under management (AUM) that integrated environmental, social and governance (ESG) factors into investment decisions.

SEC slaps Invesco Advisers with US$17.5 mil fine over its ESG claims 

The S&P 500 and the Dow edged higher on Friday, putting them on course for their best week this year, as a sweeping Trump victory powered bets of a business-friendly agenda and an expected interest-rate cut eased pressure on the US economy.

S&P 500, Dow set for best week this year on Trump win, rate cut

European Union (EU) leaders are trying to work out whether they can keep the Ukrainian war effort going if Donald Trump decides to shut off support from the US.

EU is looking at ramping up Ukraine aid if Trump pulls plug

Temu is at risk of being fined for breaching European Union consumer-protection law, adding to the e-commerce platform’s regulatory problems a week after the bloc opened a separate investigation into whether it’s doing enough to combat illegal sales.

Temu faces second EU probe for misleading sales practices

US consumer sentiment climbed to a seven-month high in early November, boosted by Americans’ optimism about the future of the economy and their finances.

US consumer sentiment advances to highest level since April

Irish Prime Minister Simon Harris on Friday announced the formal start of the country's general election campaign, hoping to retain his coalition's lead in polls and to capitalise on a slide in support for the opposition Sinn Fein.

Irish PM kicks off election focussing on immigration, housing and Trump

A brief recap of some business news and corporate announcements that made the headlines on Friday.

Maxis, 99 Speed Mart, Carlsberg Malaysia, Westports, PIE Industrial, Duopharma, Milux, Steel Hawk, Petra Energy, Fajarbaru, JF Technology, Sarawak Cable, REDtone, HeiTech Padu, Cypark

<p>Renewable energy producer Cypark Resources Bhd (KL:CYPARK) announced on Friday that its chief financial officer (CFO) Vinie Chong Pui Ling has resigned, just three months after her appointment on Aug 15.</p>


Cypark CFO resigns after just three months in role

<p>Home appliance distributor Milux Corp Bhd (KL:MILUX) received an unconditional mandatory takeover offer on Friday from ABS Capital Sdn Bhd to acquire all the remaining shares it does not own, at 43.2 sen per share.</p>


Company linked to Exsim's Lim brothers buys 63.88% stake in Milux, triggering mandatory takeover at 43.2 sen per share

<p>99 Speed Mart Retail Holdings Bhd’s (KL:99SMART) net profit dipped 3.5% to RM107.16 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM111.06 million a year ago, dragged by higher administrative and other operating spending. This included one-off special staff bonuses and initial public offering (IPO) listing expenses totalling RM23.2 million.</p>

<p>Excluding the one-off expenses, 99 Speed Mart said in a statement its normalised net profit increased 13.2% to RM126 million in 3QFY2024 from RM111.27 million in 3QFY2023.</p>


99 Speed Mart posts RM107.16m 3Q profit, down 3.5% on-year due to one-off expenses

<p>A brief recap of some business news and corporate announcements that made the headlines on Friday.</p>


<p>Vanzo Holdings Bhd has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its ACE Market listing.</p>


M&A Securities to underwrite Vanzo's ACE Market IPO

<p>Crude palm oil (CPO) futures on Bursa Malaysia Derivatives hit a two-year high, as prices rallied to above RM5,000 per tonne, a trader said.</p>

<p>Palm oil trader David Ng said the market outlook remains positive with Indonesia implementing a higher biodiesel mandate next year which will boost demand for palm oil.</p>


CPO futures at two-year high, prices rally above RM5,000 per tonne

<p>Construction and property development outfit Fajarbaru Builder Group Bhd (KL:FAJAR) has pulled out from participating in the affordable housing development in Putrajaya dubbed Residensi Cemara, which is estimated to have a gross development value of RM192 million.</p>


Fajarbaru pulls out of RM192m affordable housing project in Putrajaya

<p>REDtone Digital Bhd (KL:REDTONE) said on Friday that it has ceased to be a substantial shareholder of HeiTech Padu Bhd (KL:HTPADU) after disposing of a 1.01% stake in the open market.</p>


REDtone ceases to be substantial shareholder in HeiTech Padu

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>The Malaysian Oil, Gas and Energy Services Council (MOGSC) has commended the recent awarding of landmark contracts for integrated well continuity services (ICWS) and maintenance, construction, and modification (MCM) services to oil and gas services equipment (OGSE) players.</p>


Industry group hails award of landmark contracts by Petronas to O&G services equipment firms

<p>JF Technology Bhd (KL:JFTECH) is acquiring stakes in Singapore-based companies for a combined value of about RM26 million, in a bid to expand its business and market reach globally.</p>


JF Tech buys into Singapore-based semiconductor firms for RM26 mil

<p>Sarawak Cable Bhd (KL:SCABLE) said trading in its shares will be suspended from Nov 18, ahead of the court hearing of an application to place the company under judicial management (JM).</p>


Trading in Sarawak Cable to be suspended from Nov 18

<p>Main Market-bound bottle water producer Life Water Bhd (KL:LWSABAH) booked a net profit of RM7.49 million on revenue of RM42.59 million for its first quarter ended Sept 30, 2024 (1Q2025).</p>


Main Market-bound Life Water posts RM7.5 mil profit in 1Q2025

<p>Duopharma Biotech Bhd (KL:DPHARMA) said its net profit increased 73.9% to RM15.59 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM8.97 million a year ago, on higher revenue.</p>


Duopharma Biotech's 3Q net profit up 74% on higher sales

<p>The Malaysian Anti-Corruption Commission (MACC) is currently looking into identifying assets, ownership and financial sources obtained by the founders of e-commerce platform FashionValet Sdn Bhd.</p>


Probe to focus on identifying assets procured by FashionValet, says MACC

<p>PIE Industrial Bhd (KL:PIE) reported a 56.7% drop in net profit for the third quarter, primarily due to lower revenue from electronic manufacturing activities, coupled with foreign exchange losses, and higher administrative and distribution expenses.</p>


PIE Industrial 3Q profit down 56%, eyes higher margin customers

<p>（吉隆坡8日讯）99 Speed Mart Retail Holdings Bhd（KL:99SMART）第三季净利按年微降3.5%，受累于管理和其他营运开销增加，包括一次性的员工特别奖金和上市费用。</p>


99 Speed Mart第三季净赚1.07亿 按年降3.5%

<p>flydubai and Batik Air Malaysia have announced on Friday an interline agreement that will offer flydubai passengers access to more than 40 destinations across Batik Air’s network via Kuala Lumpur International Airport (KUL).</p>


flydubai, Batik Air ink strategic interline agreement

<p>Investors hoping China would announce extra fiscal buffers for an economy girding for another Donald Trump presidency were disappointed on Friday.</p>

<p>China's top legislative body, the standing committee of the National People's Congress (NPC), did as was expected, approving bills to allow local governments to allocate 10 trillion yuan (US$1.4 trillion) towards reducing off-balance sheet, or "hidden", debt.</p>


China's latest stimulus falls short of expectations

<p>Electric vehicles (EVs) should be seen as a crucial step in Malaysia's green transition and a means to reduce national petrol consumption, according to Investment, Trade and Industry Deputy Minister Liew Chin Tong.</p>

<p>Liew emphasised that Malaysia’s focus should extend beyond the current level of petrol usage, highlighting the broader goal of electrifying the automotive sector to cut overall petrol consumption and position Malaysia as a net exporter of petroleum once again.</p>
