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ONCO Stock Hits 52-Week Low at $0.6 Amid Market Challenges
Opening a window is not just about letting the outside world in; it is also about allowing ourselves to connect with nature and take a moment to breathe. The sensation of a gentle breeze on our face, the sounds of birds chirping in the distance, and the sight of sunlight streaming through the glass can all work wonders for our well-being.
On December 19th, the highly publicized case of Yu Hua and Ying, who were convicted of child trafficking, was revisited in a second trial. This case has garnered widespread attention due to its shocking nature and the implications it has for child welfare and trafficking laws in China.The woman, identified as Ms. Smith, recounted her experience of feeling uneasy and observed the suspicious behavior of the man sitting across from her on the subway. Smith noticed the man aiming his phone towards her repeatedly, leading her to believe that he was taking photos of her without her knowledge. Feeling violated and angry, Smith confronted the man, demanding to see his phone to check for any unauthorized images.
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In recent months, the rental housing market in various regions has seen a gradual recovery, thanks to the implementation of supportive policies by local governments. The impact of the COVID-19 pandemic on the housing sector has been significant, with many tenants facing financial challenges and landlords experiencing difficulties in securing rental income. However, with the introduction of new measures and incentives, the market is showing signs of improvement.
Developers of Baltimore flex-lab space hope to create more than 100 jobs
IN A recent episode of the Mark To Market podcast, BT senior correspondent Ben Paul delves into a hot topic that has stirred the market: DBS’ S$3 billion share buyback and the subsequent sale of shares by its CEO, Piyush Gupta. This episode has valuable insights into share buybacks, executive compensation, and capital management strategies that investors and corporate watchers must know. Here are the key points discussed during the podcast. Controversy explained DBS reported robust third-quarter earnings last month and unveiled a remarkable S$3 billion share buyback program. This announcement propelled DBS’ already high share price even higher, capturing the market’s attention. However, controversy soon followed when it was revealed that DBS’ CEO, Piyush Gupta, sold S$12.6 million worth of shares as their market price soared, benefiting from the rally spurred - at least in part - by the share buyback announcement. The incident has raised several questions about capital management and executive compensation practices, driving a multifaceted discussion around the topic. Providing context Ben Paul provides context by noting that DBS was not the only bank experiencing a share price surge. Its local peers OCBC and UOB also saw upticks following their financial results and strategic announcements. Market sentiment buoyed by macroeconomic trends, including the election of Donald Trump and expectations of his inflation-stoking policies, further encouraged this positive movement in banking stocks. Hence, the backdrop for DBS’ strong performance was a generally bullish market. A crucial point made in the podcast addresses why CEOs might sell shares. Selling shares doesn’t necessarily reflect the CEO’s outlook on the company’s future but more about converting their earnings into liquid assets. However, the timing of these sales can cause market stir and reputation implications, as seen with Gupta’s transactions. Buybacks vs dividends Paul further delves into the broader implications of share buybacks versus dividends. Unlike dividends that benefit all shareholders proportionately, share buybacks only benefit those who choose to sell their shares back to the company. This raises questions about whether continuing shareholders genuinely gain from such buybacks, especially when companies seldom disclose their rationale behind the repurchase prices relative to the intrinsic value of their shares. The podcast also examines the timing of buybacks, stressing that companies often engage in such activities following periods of strong performance when share prices are likely already high. Paul suggests that regulatory frameworks might help address these issues by implementing rules around share buyback timings and disclosures. Moreover, companies seeking share buyback mandates could be required to estimate their shares’ intrinsic value and justify their buyback price, thus enhancing transparency and accountability. The episode does not only dwell on problems but also offers alternatives. Re-evaluation needed? Paul concludes by urging a re-evaluation of how companies use their capital and structure executive compensation, especially against changing economic backdrops. Continuous improvement in these areas could ultimately lead to more robust corporate governance and better alignment of interests between executives and shareholders. For a detailed exploration of these points, tune into the full episode of the Mark To Market podcast now. Paul and other BT Correspondents will continue to analyse and provide insights into pivotal issues shaping the market, offering valuable perspectives for investors, corporate managers, and policy-makers alike. For any thoughts or questions, reach out to the podcast team at btpodcasts@sph.com.sg . Follow BT Correspondents for the latest updates and episodes. Written and hosted by: Ben Paul (benpaul@sph.com.sg) Edited by: Howie Lim & Claressa Monteiro Produced by: Ben Paul & Howie Lim Engineered by: Chai Pei Chieh A podcast by BT Podcasts, The Business Times , SPH Media --- Follow BT Correspondents: Channel: bt.sg/btcobt Amazon: bt.sg/btcoam Apple Podcasts: bt.sg/btcoap Spotify: bt.sg/btcosp YouTube Music: bt.sg/btcoyt Website: bt.sg/btcorresp Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks BT Podcasts: bt.sg/pcOM BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlenson
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