Singapore 

Razer CEO to set aside $10m for Singapore’s gaming industry, partly to spite an esports nonbeliever, Digital, Singapore News

You just can’t stop the rise of the global competitive gaming industry as it undergoes constant explosive growth, with esports and gaming culture going mainstream, reaching out to new corners of the market. Closer to home, local professional gamers have been creating ripples in Singapore’s esports scene. Soon, they’ll stand a chance to make some waves globally following a major investment by gaming hardware firm Razer. Min-Liang Tan, the company’s affable co-founder and CEO, today pledged to drop $10 million into his country’s gaming industry across the next 12 months. Whoa.  The massive funding extends to supporting and…

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Singapore 

Kimly sponsor says ex-Pokka CEO Alain Ong not mastermind of IPO; CAD probe ongoing, Singapore, Business News

SINGAPORE – PrimePartners Corporate Finance said Kimly executive director Vincent Chia was the key person driving the coffee shop operator’s initial public offering (IPO) – not Pokka’s former chief executive Alain Ong, who is being sued by the beverage giant alleging he was part of a conspiracy that had caused the drinks maker to suffer at least $10 million in losses. PrimePartners was the sponsor of Kimly’s IPO in 2017, and is its continuing sponsor. Pokka has accused Mr Ong of working with others to divert business to another beverage…

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Chinese sportswear maker Li Ning’s shares jump to nine-year high as former Uniqlo executive Kosaka Takeshi appointed joint CEO

Li Ning, the Chinese sportswear maker whose shares have more than quadrupled in the past two years, may get another boost to its stock-market performance.The Beijing-based company, which was founded by the Olympic gold medal-winning gymnast of the same name, said it has hired Kosaka Takeshi from Japanese clothing retailer Uniqlo as its joint chief executive officer, alongside Li Ning himself.Kosaka, a Japanese-Chinese, was formerly the chief operating officer of the Chinese unit of Uniqlo, Asia… Source link

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Singapore 

CEO who sexually assaulted son’s schoolmate loses appeal, Singapore News

SINGAPORE – The Court of Appeal on Wednesday (Aug 7) rejected arguments by a former chief executive, who is serving jail time for sexual offences against his son’s nine-year-old schoolmate, that the boy had lied about being abused. The 49-year-old, a foreign national, was appealing against his conviction and sentence of 14 years’ jail and 24 strokes of the cane for sexually assaulting the victim during a Halloween sleepover in 2015. He cannot be named to protect the identity of the victim. Among other things, his lawyer Eugene Thuraisingam argued…

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Hong Kong electricity provider CLP eyes China power distribution market, India’s renewables, says CEO

CLP Holdings, the larger of Hong Kong’s two power utilities firms, is eyeing opportunities to invest in southern China’s electricity distribution market, which has been partially deregulated to let private firms participate.It is also seeking to step up investment in India’s consolidating renewable energy sector and power transmission and distribution assets, chief executive Richard Lancaster told reporters as the firm reported a net loss that fell within expectations.“As the industry is going… Source link

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Ousting of HSBC CEO John Flint shows ‘increased ruthlessness’ of bank’s board, S&P says

The abrupt departure of HSBC chief executive John Flint shows the “increased ruthlessness” of HSBC’s directors and their unwillingness to tolerate middling performance by the bank, S&P Global Ratings said on Tuesday.On Monday, HSBC said that Flint, a career HSBC executive, had stepped down by mutual agreement with the company’s directors after 18 months in the top job and the board of directors believed a change was needed to navigate “an increasingly complex and challenging global environment”… Source link

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HSBC CEO John Flint steps down less than two years after taking top role

HSBC said on Monday that John Flint had abruptly stepped down as chief executive less than two years after he took the top job at the bank.He will be replaced on an interim basis by Noel Quinn, who has headed global commercial banking since December 2015. Quinn previously served as regional head of commercial banking for Asia-Pacific out of Hong Kong.“I have agreed with the board that today’s good interim results indicate that this is the right time for change, both for me and the bank,” Flint… Source link

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Apple’s sales performance in China recovers as CEO Tim Cook says Mac production will continue in US

US technology giant Apple Inc saw an improvement in its China business in the past quarter even though global iPhone sales fell to less than 50 per cent of total revenue for the first time in seven years.The Cupertino, California-based company on Tuesday reported revenue of US$53.8 billion for the April-June period, up 1 per cent from the same period a year ago and beating Wall Street estimates. CEO Tim Cook shrugged off news that iPhone sales fell to 48.3 per cent of overall revenue, saying it… Source link

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Huawei CEO Ren Zhengfei predicts 30% gain in global handset shipments in 2019 despite US trade blacklist

Huawei Technologies founder and chief executive Ren Zhengfei said he expects the Chinese telecom giant to ship 30 per cent more handsets globally this year despite being blacklisted by the US from doing business with American suppliers.The Shenzhen-based company’s two smartphone brands, Huawei and Honor, will ship an estimated 270 million handsets globally in 2019, Ren said in an interview with Yahoo Finance published recently. Huawei confirmed the contents of the interview, without elaborating… Source link

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China is so over looking to US, other foreign countries for business advice, says CEO of Oliver Wyman

Chinese companies have little interest in learning from overseas businesses, as the domestic market matures and nationalism kicks in, according to the head of a leading global management consultancy firm.New York-headquartered Oliver Wyman entered China 15 years ago and for the first 10 years “most of our work was around best practises, bringing global best practises into the Chinese market,” said Scott McDonald, president and CEO of Oliver Wyman Group. “There was a lot of curiosity about what… Source link

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