Latest news with #JoyceLee
Time of India
6 days ago
- Business
- Time of India
Nvidia supplier SK Hynix plans to boost spending after record Q2 profit
By Heekyong Yang and Joyce Lee SEOUL : SK Hynix flagged plans to boost spending this year after posting on Thursday a record quarterly profit , as the Nvidia supplier seeks to alleviate investor concerns about slowing growth for artificial intelligence chipsets . The South Korean chipmaker said demand growth would be driven by new model launches by customers and that it was on track to double high-bandwidth memory (HBM) chip sales for the full year compared to 2024. Its shares climbed more than 3% in early trade, compared to the 0.8% rise in the benchmark South Korean KOSPI index Hynix did not quantify its new investment plan for 2025. Ryu Young-ho, a senior analyst at NH Investment & Securities, said its proactive response to customer demand for next year appeared to reflect its confidence, as it faces major competition from Samsung Electronics. At an earnings conference, SK Hynix also said it was in talks with a major customer regarding sales next year which are "proceeding as planned". It did not elaborate. In March, SK Hynix said it planned to finalise sales with customers for 2026 within the first half of this year. "SK Hynix foresees that increasing competition among big tech companies to enhance inference of AI models would lead to higher demand for high-performance and high-capacity memory products," it said in a statement. Chaotic U.S. policy and turbulence over tariffs have overshadowed the outlook for many companies, and SK Hynix said its earnings were helped by demand from customers to increase inventory ahead of potential tariffs. Earlier this month, U.S. President Donald Trump threatened to soon introduce tariffs on semiconductors. SK Hynix said in April that the proportion of its exports to the United States was not high, but analysts said the company could face pricing pressure from customers squeezed by U.S. tariffs. A much-anticipated meeting between U.S. and South Korean officials scheduled for Friday to discuss tariffs was cancelled. Hopes for a deal had risen after Japan and the United States reached a deal on tariffs this week. Hynix reported a 9.2 trillion won ($6.69 billion) operating profit for the April-June period, up 69% from 5.5 trillion won a year earlier. That compared with a 9.0 trillion won average forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate. Revenue rose 35% to 22.2 trillion won during the quarter. HYNIX VS SAMSUNG Its profit is double the quarterly operating profit expected by crosstown rival Samsung Electronics, which this month projected a worse-than-expected 56% plunge in second-quarter operating profit due to weak AI chip sales. SK Hynix overtook Samsung Electronics as the world's top memory chipmaker in the first quarter due to its leadership in HBM chips, a crucial component of AI chipsets designed by the likes of Nvidia that assist the processing of vast amounts of data to train AI models. After posting a series of record profits boosted by strong AI demand, SK Hynix is bracing for potential U.S. tariffs and rising competition from rivals in supplying advanced chips to Nvidia, analysts say. Last Thursday, SK Hynix saw its shares close about 9% lower after Goldman Sachs downgraded the stock to "neutral", expecting HBM prices would decline for the first time next year. Shares of SK Hynix are up 54.7% so far this year, outperforming the KOSPI's 32.7% rise.
Singapore Law Watch
22-07-2025
- Health
- Singapore Law Watch
What does it mean for etomidate to be listed under the Misuse of Drugs Act?: ST Explains
What does it mean for etomidate to be listed under the Misuse of Drugs Act?: ST Explains Source: Straits Times Article Date: 22 Jul 2025 Author: Joyce Lee Authorities taking stronger action amid growing trend of vapes containing the substance. Etomidate, which is increasingly being abused through e-vaporisers, will be reclassified under the Misuse of Drugs Act (MDA). Offences under the Act carry heavier sentencing and mandatory rehabilitation. Announcing this on July 20, Health Minister Ong Ye Kung said it was now necessary to take stronger action, with the growing trend of e-vaporisers or vapes containing the drug. Kpods, which are vape juice mixed with etomidate, have been touted by online sellers to be undetectable by urine tests. What other drugs fall under the MDA, and what are the penalties for the trafficking, possession and consumption of these? The Straits Times explains. What is etomidate? Etomidate is an anaesthetic agent used in clinical practice to induce sedation. It is currently controlled under the Poisons Act, which restricts its use to licensed medical professionals. Under the Poisons Act, those caught possessing, using or trafficking pods containing etomidate face a maximum fine of $10,000 and a prison term of two years. Why is there a need to reclassify etomidate? Vapes, often used to deliver nicotine, are banned in Singapore under the Tobacco (Control of Advertisements and Sale) Act. Besides nicotine, vapes have been found to contain even more harmful substances such as etomidate and ketamine. Mr Ong said that in a recent seizure of over 100 vapes, a third were found to contain etomidate. Etomidate is meant to be administrated intravenously under strict medical supervision. Inhaling etomidate into the lungs through vapes can cause failure of vital organs. It can also induce confusion, tremors and unsteady gait, leading to falls and accidents. Accounts have surfaced of Kpods triggering erratic, violent and zombie-like behaviour in users. Like other substance addictions, etomidate can alienate the addict from loved ones. Readers have recounted their experiences of etomidate-laced vapes destroying their marriage and straining relationships with their children. Many have called for harsher penalties for those trafficking Kpods, and for better coordination among agencies to help children curb their addiction rather than hand them fines. This would include ordering mandatory treatment for addicts and those caught using the vapes. Professor Teo Yik Ying, dean of the NUS Saw Swee Hock School of Public Health, for one, had proposed that current laws keep up with the technology – e-cigarettes and vapes – used to deliver synthetic drugs. 'If I am a police officer and I catch someone with a vape, and I detect that the vape cartridge is actually a Kpod... the person is not just caught for vaping, but also caught for possession of narcotics,' he said. Former Jurong GRC MP Tan Wu Meng, who had previously brought up the vaping issue in Parliament, said the scourge is concerning as Kpods could be a gateway for users to try harder drugs. What does listing etomidate under the Misuse of Drugs Act mean? There are plans to reclassify etomidate as a Class C drug under the MDA. It will share this category with other substances that have lower potential for harm than Class A and Class B drugs, but are still dangerous enough to warrant strict control. Stimulants like mephentermine and pipradrol, and the hypnotic drug Erimin-5 (nimetazepam), are examples of Class C drugs. These substances may have legitimate medical uses, but are harmful when used in an unregulated manner. Here is what listing etomidate as a Class C drug would entail: Stiffer penalties Under the MDA, illegal possession and use of a Class C drug carry a maximum sentence of 10 years' jail and a $20,000 fine. Those who traffic such drugs may be jailed for up to 10 years and given five strokes of the cane. This is compared with the maximum penalty of two years' jail and a $10,000 fine under the Poisons Act. The MDA also provides for supervision and mandatory rehabilitation for drug addicts. The addict must remain at a rehabilitation centre for 12 months unless he or she is discharged earlier. Whole-of-government effort in enforcement against etomidate-laced vapes The classification of etomidate as a Class C drug is a recognition of the scale of the vape problem here. The Health Sciences Authority (HSA) has seen an increase in reports on vaping-related offences, from more than 3,000 reports in 2024 to more than 2,500 reports in the first half of 2025. How have agencies stepped up efforts recently? Mr Ong said on July 20 that various agencies – the National Parks Board, National Environment Agency, police, HSA and Land Transport Authority – are already coordinating enforcement against the consumption of e-vaporisers. When seized by agencies, the vapes first go to the Ministry of Health for testing. 'If it is just nicotine, we will process and fine them (those involved)... In the most serious cases involving drugs, the Central Narcotics Bureau will have to come in, so it will have to be a concerted effort,' said Mr Ong. From July 21, the HSA has also extended the operating hours for its hotline to report vaping-related offences. The hotline now operates from 9am to 9pm daily, including on public holidays. Previously, it operated only on weekdays, from 9am to 5.30pm. The HSA has also launched a new online portal to report vaping-related offences at If you need help to quit vaping, you can join the Health Promotion Board's I Quit programme by calling the QuitLine on 1800-438-2000. Participants need not worry about being prosecuted, as it does not presume they use or have used vaping products. But those caught using or possessing such items will be prosecuted. If you have a story to share about vapes, e-mail us at [email protected] Source: The Straits Times © SPH Media Limited. Permission required for reproduction. Print
Time of India
17-07-2025
- Business
- Time of India
South Korea's top court clears Samsung Chairman Lee in 2015 merger fraud case
By Joyce Lee and Heekyong Yang SEOUL : South Korea's top court upheld on Thursday a not-guilty verdict for the chairman of Samsung Electronics Jay Y. Lee, backing two lower court rulings clearing him of accounting fraud and stock manipulation related to an $8 billion merger in 2015. The Supreme Court's verdict permanently removes a long-running legal distraction for Lee as Samsung plays catch-up in a global race to develop cutting-edge AI chips. The verdict upheld an appeals court's ruling dismissing all the charges in the case involving the merger a decade ago between two Samsung affiliates, Samsung C&T and Cheil Industries, which prosecutors said was designed to cement Lee's control of the tech giant. A lower court last year had also cleared Lee of the charges. "The Supreme Court ruling clears a layer of legal uncertainty, which could be a long-term positive for Samsung," said Ryu Young-ho, a senior analyst at NH Investment & Securities. "It remains to be seen how directly and proactively he will engage going forward, but if the owner takes a more active role, it could allow management to focus more on long-term initiatives rather than short-term results," Ryu added. Samsung Electronics shares were little changed after the ruling, up 1.7%. The Supreme Court verdict was widely expected, but comes at a critical moment for Lee, who has faced mounting questions about his ability to lead Samsung Electronics - the world's top memory chip and smartphone maker. Samsung's lawyers said they were "sincerely grateful" to the court for its decision and added in a statement that the ruling confirmed that the merger was legal. Business lobby groups welcomed the court's decision, framing it as a stabilising development for the South Korean economy. The Korea Enterprises Federation said the ruling removes a major legal burden for Samsung and comes at a time of intensifying global competition in high-tech industries like AI and semiconductors as well as economic pressure from U.S. trade tariffs. "Samsung's role as a leading South Korean company is more critical than ever," the group said in a statement. The group said it hoped Samsung, under Lee's leadership, would step up investment and innovation, helping to create jobs and bolster South Korea's economic rebound. For nearly a decade, Lee has faced legal challenges, including those from the merger that paved the way for his succession after his father, Lee Kun-hee, had a heart attack in 2014 that left him in a coma. Park Ju-gun, head of corporate analysis firm Leaders Index, said Lee now faces dual challenges of tightening his grip on the conglomerate while steering Samsung back to leadership in key sectors. "He must both defend Samsung's core businesses and find new growth engines, all while consolidating his control," Park said.
Yahoo
09-07-2025
- Business
- Yahoo
EXCLUSIVE: Parker Thatch Names Joyce Lee First Creative Director
Parker Thatch, the Northern California accessories brand, has named Joyce Lee its first creative director. Founded in 2002 by Irene Chen and Matthew Grenby and based in Orinda, about 20 miles east of San Francisco, Parker Thatch is known for its functional, personalized handbags and accessories. The brand gained attention in 2009 with the launch of its Mimi bag, an elevated take on the classic canvas tote that can be customized with a wide range of options. Personalization is central to Parker Thatch's DNA, with design features like interchangeable straps, playful charms and leather details. Prices in handbags range from $118 to $1,150, available direct-to-consumer and at its boutique in Orinda. More from WWD Dior Lady Art Project Celebrates 10th Anniversary Massimiliano Giornetti Named Creative Director of Drumohr Caviar Kaspia Is Getting Into Leather Goods Lee's appointment signals a new chapter for the brand as it looks to grow its community and expand its reach. 'Joyce has a deep understanding of how to build a brand with soul,' said Chen and Grenby in a joint statement to WWD. 'What makes her so right for Parker Thatch is her ability to connect the emotional and the practical and to create pieces that feel personal, intentional and elevated, without losing their ease. We're at a pivotal moment of growth, and Joyce's creative vision will help us expand in ways that stay true to who we are, while opening up new possibilities for how we show up in the world.' Lee brings more than two decades of experience in fashion and accessories. She most recently served as senior vice president of design and creative director at Madewell, where she led the women's design team. Prior to that she designed handbags and footwear for brands including Marc Jacobs and Michael Kors. In her new role, Lee will oversee all aspects of creative direction at Parker Thatch, from product design to brand imagery and customer experience. 'Parker Thatch has such a distinct, joyful point of view — it celebrates individuality in a way that feels bold, thoughtful and refreshingly personal,' Lee said in a statement. 'I'm drawn to how the brand brings character and function together so effortlessly. I'm excited to help shape this next chapter and evolve the creative vision in a way that feels fresh, enduring and true to the spirit that makes Parker Thatch so special.' Best of WWD Why Tennis Players Wear All White at Wimbledon: The Championships' Historic Dress Code Explained Kate Middleton's Looks at Trooping the Colour Through the Years [PHOTOS] Young Brooke Shields' Style Evolution, Archive Photos: From Runway Modeling & Red Carpets to Meeting Princess Diana
Time of India
08-07-2025
- Business
- Time of India
Samsung flags big miss in Q2 profit, blames US AI chip curbs on China
By Heekyong Yang and Joyce Lee SEOUL: Samsung Electronics on Tuesday projected a far worse than expected 56% plunge in second-quarter operating profit due to weak AI chip sales , deepening investor concerns over the tech giant's ability to revive its struggling semiconductor business . The world's biggest memory chipmaker blamed the profit miss on U.S. restrictions on advanced AI chips for China, but analysts said the decline was also due to delays in supplying high-bandwidth memory (HBM) chips to key U.S. customer Nvidia . In March, Samsung flagged meaningful progress on its latest HBM 3E 12-layer chips could come as early as June. But on Tuesday it gave no update on supply to Nvidia, only saying its improved HBM products were undergoing customer evaluation and proceeding with shipments. Key rivals SK Hynix and Micron have benefited from robust demand for memory chips driven by AI growth in the United States, but Samsung relies more on China, where sales of advanced chips are restricted by the U.S. and competition with local rivals is growing. "For Samsung Electronics, the key issue remains regaining competitiveness ... Everything ultimately comes back to HBM," said Ryu Young-ho, a senior analyst at NH Investment & Securities. Potential U.S. tariffs also cloud the outlook for Samsung's mainstay chip and phone businesses, pressuring margins. "It will also be difficult to raise prices immediately due to competition, making it challenging to sustain high margins," Ryu said. Despite the concerns, Samsung Electronics shares rose 0.4% versus a 1.5% gain in the benchmark KOSPI's as of 0030 GMT. It said it plans to buy back 3.9 trillion won ($2.85 billion) worth of its shares, part of a 10 trillion won buyback announced last November. Analysts said they expect Samsung's profit to improve gradually, supported by the launch of new phones and growth in sales of HBM chips to non-Nvidia customers. Samsung estimated an operating profit of 4.6 trillion won for the April-June period, versus a 6.2 trillion won LSEG SmartEstimate. That would be its weakest in six quarters, down from 10.4 trillion won in the same period a year earlier and 6.7 trillion won in the preceding quarter. "The DS Division recorded a quarter-on-quarter decline in profit due to inventory value adjustments and the impact of U.S. restrictions on advanced AI chips for China," Samsung said in a statement, referring to its Device Solutions division, which houses its chip business. Revenue would likely fall 0.1% to 74 trillion won from a year earlier, the filing showed. Samsung said earnings in its foundry business also fell, driven by sales restrictions and related inventory value adjustments stemming from U.S. export controls on advanced AI chips for China, as well as continued low utilisation rates. It expects the operating loss in its foundry business to narrow in the second half of the year as utilisation improves in line with a gradual recovery in demand. The company plans to release detailed results including a breakdown of earnings for each of its businesses on July 31.
