Karooooo Ltd.: Fiscal Q4 Earnings Snapshot
SINGAPORE — SINGAPORE — Karooooo Ltd. (KARO) on Wednesday reported profit of $13.6 million in its fiscal fourth quarter.
The Singapore-based company said it had profit of 44 cents per share.
The company posted revenue of $66 million in the period.
For the year, the company reported profit of $50.4 million, or $1.63 per share. Revenue was reported as $250 million.
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Yahoo
40 minutes ago
- Yahoo
Analysts react to US-China trade agreement
SINGAPORE (Reuters) -U.S. and Chinese officials said they had agreed on a framework to put their trade truce back on track and remove China's export restrictions on rare earths while offering little sign of a durable resolution to longstanding trade differences. China's Vice Commerce Minister Li Chenggang said the two teams had agreed on implementing their Geneva consensus and would take the agreed framework back to their leaders. MARKET REACTION: Share markets and the dollar were guarded, with S&P 500 futures down 0.3%, while awaiting more detail of what was decided and whether it would stick. QUOTES: CHRIS WESTON, HEAD OF RESEARCH, PEPPERSTONE, MELBOURNE: "The devil will be in the details but the lack of reaction suggests this outcome fully expected. "While clearly a positive outcome, the lack of reaction in S&P500 futures, and the incremental moves seen in CNH or AUD, suggests achieving the framework on the Geneva agreement was fully expected – the details matter, especially around the degree of rare earths bound for the US, and the subsequent freedom for US produced chips to head East, but for now as long as the headlines of talks between the two parties remain constructive, risk assets should remain supported." LIN GENGWEI, CO-FOUNDER AND CEO, RAIN TREE PARTNERS, SINGAPORE: "Both sides have the pressure, and willingness to reach an agreement. This is temporary achievement in talks but will not alter the pattern of perennial Sino-U.S. rivalry. "The U.S. will not completely remove restrictions on chip exports to China, but may relax the curbs in response to pressure from both Beijing and the domestic semiconductor sector." MARK DONG, CO-FOUNDER OF MINORITY ASSET MANAGEMENT, HONG KONG: "This is positive news to the market. At least now there's a bottom line that neither side is willing to cross. "Going forward, both sides will move toward reducing the trade imbalance." ZENG WENKAI, CHIEF INVESTMENT OFFICER, SHENGQI ASSET MANAGEMENT, HONG KONG: "The market likely anticipated this — Trump is just TACO (Trump always chickens out)." "Look at how countries are negotiating with the U.S. these days; it's no longer like how Vietnam approached things early on. Japan and South Korea are taking a tougher stance. People have realised that kneeling gets you nowhere — in fact, it only invites more bullying." CHARU CHANANA, CHIEF INVESTMENT STRATEGIST, SAXO, SINGAPORE: "Markets will likely welcome the shift in tone from confrontation to coordination. But with no further meetings scheduled, we're not out of the woods yet. The next step depends on Trump and Xi endorsing and enforcing the proposed framework. "It's important not to mistake this tactical de-escalation for a full reversal of strategic decoupling. The underlying competition around technology, supply chains, and national security remains very much intact. New issues can always emerge, and the real test will be how far this "new old deal" is implemented." TAN XIAOYUN, FOUNDING PARTNER OF ZONSO CAPITAL, GUANGDONG: "Talks will continue under the agreed framework, and I believe the U.S. will give in more than China to reach a deal." "Under the current circumstances, the U.S. side faces more pressing challenges, while the Chinese side has more breathing space. China was defensive, but has turned offensive, leveraging on rare earth and market access. This marks a rebalancing in strength and clout." MICHAEL MCCARTHY, CHIEF EXECUTIVE OFFICER, MOOMOO AUSTRALIA, SYDNEY: "I'll be watching to see how bonds trade today on the back of this. The currency markets are taking it in stride, and given the equity markets are back to all-time highs or thereabouts, it does appear that this was very much anticipated. "For weeks, there have been expectations of the deal. The delivery of it will likely be a market positive, with a weakening dollar and stronger equities, but it's not a step change." CAROL KONG, CURRENCY STRATEGIST, COMMONWEALTH BANK OF AUSTRALIA, SYDNEY: "I think in this environment... any hints on progress on a potential trade agreement will be positive for markets. "It will still be very hard and it will take a long time for both sides to reach a comprehensive trade agreement. That sort of comprehensive deal usually takes years to be reached, so I'm skeptical that a framework reached at the meeting in London will be comprehensive. Tensions might be de-escalated for now, but they will certainly escalate again in coming months." RAY ATTRILL, HEAD OF FX STRATEGY AT NATIONAL AUSTRALIA BANK, SYDNEY: "It's way too early to say that we know we're in the midst of establishing a cast iron, new US-China trade agreement. The whole year has been littered with positive omens about reaching agreements and then we haven't really seen substantial progress or we've seen backsliding on things that were seemingly agreed so. "Our view is still that whatever does get agreed in the coming weeks and months, the baseline view is that we're going to end up with a global tariff situation which is far worse than existed prior to Trump's ascent to the presidency so we're still going to have a tariff environment we believe will be detrimental as far as global growth is concerned." TONY SYCAMORE, MARKET ANALYST, IG, SYDNEY: "If we keep the terms of the Geneva Agreement, we're looking at US tariffs on Chinese goods staying at 30% for a period of time and Chinese tariffs on US goods at 10%. So that's down from 145% and 125% respectively. That would be fantastic. "Now that for me was probably the market consensus ... and now people just trying to work out whether they're gonna buy or sell the US dollar and that's I think reflecting a bit of that indecision. "That's why U.S. equity markets are holding at this point of time. I still feel like they're overcooked and they need to pull back. It's just been a remarkable run and we're sort of pushing up now against the record highs from February, so for me, it would make sense for them to take a breather." DAVID CHAO, GLOBAL MARKET STRATEGIST, ASIA PACIFIC, INVESCO, HONG KONG: "The recent headlines that we've seen is that the US and China - they're ready to make a deal, I think from both sides, and that is a very good sign for markets as well as for policymakers in both countries. Because ultimately, cooler heads will prevail, and we think that the road has been laid for closer dialogue between the top leaders between the two countries. "Today's news about the US and China striking a potential deal on things like rare earths or access to semiconductors or jet engine equipment, that is a very good indication that we have moved through peak tariff uncertainty." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Toto: Singapore Pools to debut new fixed-prize game with 12 June draw – how to play?
SINGAPORE — Sales for Toto Match, a new fixed-bet game by Singapore Pools, began on Tuesday (10 June) ahead of its inaugural draw this Thursday (12 June). Toto Match, unlike in traditional Toto where players can win from jackpot prize, pays out a fixed prize amount per dollar bet. In Toto Match, you can pick between two and four numbers from 1 to 49. A player will win if all their selected numbers are included in the six winning numbers of the Toto draw. For every dollar bet, players can win $50 for two matched numbers, $500 for three numbers and $7,000 for four numbers. Additionally in Toto Match, you can also try choosing just one number from 1 to 49. Here, a player wins $30 for every dollar bet if this number matches the additional number in the Toto draw. However, in both scenarios you must place a Toto Match bet to be eligible as placing a normal Toto bet will not qualify for these prizes. What is Toto? Toto was launched in 1968 as the first lottery game in the history of Singapore Pools. The game got its name from a combination of the words 'Totalisator' and 'Lotto'. The current format of Toto sees six winning numbers and one additional number drawn from 49 numbers (1 to 49) every Monday and Thursday. The jackpot sum begins from $1,000,000. A snowballing feature, which allows for the prize to increase if there are no winners, was introduced to the game in 1981. The System Entry option, where you can pay to be able to pick more numbers, was added later that year. Latest Toto results Singapore Pool's latest Toto draw (4085) did not produce a Group 1 winner on Monday (9 June). As a result, the prize amount of $1,296,208 will snowball to the next draw set for this Thursday (12 June). The jackpot amount will be around $2.5 million, according to Singapore Pools. The winning numbers for Monday's draw were 7, 10, 11, 21, 32 and 48. The additional number was 27. There were four Group 2 winners from the draw with a share amount of $68,222. The winning tickets for Group 2 were sold at: 7-Eleven store at 3 McCallum Street (System 8 Entry) NTUC FairPrice Serangoon at Blk 152B Serangoon North Avenue 1 #01-384 (System 7 Entry) Singapore Pools Account Betting Service (System 7 Entry) Singapore Pools Account Betting Service (Ordinary Entry) What is the prize structure for Toto? Singapore Pools says that 54% of sales in each draw are added to the Toto prize pool. Your winnings from the pool is dependent on which prize group you land in after the draw reveals the winning numbers. Prize group Matching numbers Prize Group 1 (Jackpot) 6 winning numbers 38% of prize pool (Minimum guarantee of $1,000,000) Group 2 5 winning numbers + additional number 8% of prize pool Group 3 5 winning numbers 5.5% of prize pool Group 4 4 winning numbers + additional number 3% of prize pool Group 5 4 winning numbers $50 Group 6 3 winning numbers+ additional number $25 Group 7 3 winning numbers $10 What are the odds of winning Toto? The odds of winning the Toto jackpot (6 winning numbers) are one in almost 14 million, according to Singapore Pools. Prize group Matching numbers Odds of winning Group 1 6 winning numbers 1 in 13,983,816 Group 2 5 winning numbers+ additional number 1 in 2,330,636 Group 3 5 winning numbers 1 in 55,491 Group 4 4 winning numbers+ additional number 1 in 22,197 These figures are available on the Singapore Pools website. How do I calculate my Toto prize? Singapore Pools has a prize calculator for Toto which you can find here. How big can the Toto prize snowball to? The Group 1 prize amount will not snowball beyond the fourth consecutive draw. If there is no Group 1 winner at the end of four consecutive draws, the final jackpot amount (38% of the fourth draw's prize pool plus snowballed amount from the three preceding draws) cascades, i.e. it will be paid to the next prize group with winner(s) and shared equally. Prize amounts for Group 2, 3, and 4 will snowball until it is won. What are the largest jackpot prizes and winning shares in Toto history? Statistics from Singapore Pools includes lottery draws from 9 October 2014 onwards when Toto was updated to the current 6-out-of-49 format. According to their data, the biggest jackpot prize was $19,416,913 which was drawn on 11 February, 2022. The $19.4 million jackpot had eight winning shares which means the winning share amount worked out to over $2.4m each. A nice sum but nowhere close to the biggest winning shares in Toto history which came in at over $13m on two separate occasions. This happened first on 2 October in 2023 when a single winning share took home $13,077,918. In May last year, another lucky individual had the sole winning share of a very cool $13,123,509 jackpot.
Skift
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Qantas Group to Shut Down Jetstar Asia Operations
Moral of the story: Being low-cost is no longer enough. Without scale, efficiency, and solid financial backing, it's getting harder for smaller airlines to stay in the game — especially with the kind of cut-throat competition we're seeing in the region. The Qantas Group on Wednesday announced the closure of operations of Jetstar Asia, its low-cost Singapore-based airline, by the end of July. The decision, made with majority shareholder Westbrook Investments, comes after years of mounting pressure on the carrier's cost base and operating environment. The shutdown will displace more than 500 staff based in Singapore. Qantas has committed to offering redundancy packages and job placement assistance, both within the Qantas Group and with other airlines in the region. Jetstar Asia, which currently operates 16 routes across Asia including to Thailand, Indonesia, the Philippines, and Sri Lanka, will wind down with a reduced schedule between now and July 31. This does not impact Jetstar Airways' domestic and international operations in Australia and New Zealand or Jetstar Japan. Despite the closure, Qantas is not exiting Singapore. The city remains its third-largest international hub. The group will continue to serve the market through Qantas-operated flights and a network of nearly 20 codeshare and interline partners. Jetstar Airways will continue to fly from Australia into Asia to all its popular destinations across Singapore, Thailand, Indonesia, Vietnam, Japan and South Korea, Qantas Group said in statement. What Led to the Decision? Listing some of the reason, the airline said it has been hit hard by rising airport charges, supplier costs, and fierce competition. Qantas Group CEO Vanessa Hudson stated, 'We have seen some of Jetstar Asia's supplier costs increase by up to 200%, which has materially changed its cost base.' Qantas Group forecasts Jetstar Asia to record a $35 million underlying EBIT loss this financial year. The group said it is reallocating up to $500 million in fleet capital unlocked from Jetstar Asia into its core businesses to improve long-term returns. Thirteen of Jetstar Asia's mid-life Airbus A320s will be repurposed. Some will support Jetstar's domestic growth, while others will bolster Qantas' regional operations in Western Australia, particularly in the resources sector. The move also supports Qantas' largest-ever fleet renewal program, with the first A321XLR joining the fleet later this month and the long-range A350-1000s arriving from 2026 under Project Sunrise. Project Sunrise is Qantas' plan to launch non-stop flights from Australia's east coast to London and New York from 2026, using specially configured Airbus A350-1000s to cut travel time by up to four hours. Hudson said, 'We're making disciplined decisions which recycle capital across our business and prioritise it to stronger performing segments as well as strategic growth initiatives.' She also highlighted that Qantas is in the midst of its 'most ambitious fleet renewal program in history,' with nearly 200 aircraft on order and the group making significant investment to upgrade the fleet. Lessons from Thai Smile's Exit The decision mirrors the recent closure of Thai Smile Airways by Thai Airways. That budget carrier also faced persistent losses, totaling over THB 20.9 billion across 12 years. Despite its initial promise, Thai Smile struggled to establish sustainable financial performance and was eventually dissolved earlier this month. While Jetstar Asia is not a long-term financial drag on the same scale, both closures reflect broader challenges for low-cost carriers in Asia. Tight margins, high fees, and volatile demand are making it harder for smaller regional brands to compete, especially as full-service carriers consolidate operations to regain profitability. Support Measures Jetstar Asia CEO John Simeone, who joined the airline last year from parent company Qantas, acknowledged the challenges: 'Unfortunately, despite our best efforts, the local market conditions have ultimately impacted our ability to continue to offer the everyday low fares that are our DNA.' The airline has said it would issue full refunds for cancelled flights, including those scheduled after July 31. The airline will be contacting customers impacted by the reduced flying schedule over the next seven weeks with options. Jetstar Asia has also published a dedicated support page for refunds, flight changes, and updated schedules. The Jetstar website's "Travel Alerts" section also offers the latest updates.
