Latest news with #PeterLim
The Sun
08-05-2025
- Business
- The Sun
David Beckham and Gary Neville complete Salford takeover as rest of Man Utd Class of 92 relinquish their stakes
DAVID BECKHAM and Gary Neville have completed a takeover of Salford City. The former Manchester United duo clubbed together with other members of the Class of 92 to buy stakes in the club in 2014. But now Nicky Butt, Ryan Giggs, Phil Neville and Paul Scholes have relinquished their ownership. Majority shareholder Peter Lim also departed in 2024, leaving Beckham and Neville to seek fresh investment. And they have found that in the shape of Declan Kelly, founder of US-based advisory firm Consello, and Lord Mervyn Davies, chairman of the Lawn Tennis Association. Salford enjoyed four promotions in five years once the ex-United stars initially bought in. The 2024-25 season was their sixth consecutive campaign in League Two. The Ammies finished eighth, missing out on a play-off spot by just one point.
Time Business News
02-05-2025
- Business
- Time Business News
Utilizing Innovative Digital Footprint Analysis for Crypto Asset Recovery in the USA
Sacramento, California – April 25, 2025 – Tawny Swift Ltd., a leading crypto recovery firm specializing in tracing and recovering lost or stolen cryptocurrency, today announced its groundbreaking 'Digital Footprint Analysis' model, designed to revolutionize the landscape of crypto asset recovery in the United States. Digital Footprint Analysis leverages cutting-edge technology and sophisticated investigative techniques to meticulously trace the digital trail left by illicit transactions. Unlike traditional methods that often struggle to navigate the complexities of blockchain technology, this new model focuses on identifying and analyzing the comprehensive digital footprint associated with the theft or loss. ' We recognize that cryptocurrency, despite its perceived anonymity, leaves a traceable digital footprint ,' explains David Braxton, CEO of Tawny Swift Ltd. ' Our Digital Footprint Analysis meticulously connects the dots, examining transaction data, IP addresses, online activity, and other digital breadcrumbs to identify the movement of stolen assets and ultimately, the perpetrators .' This innovative approach offers a significant advantage in recovering lost or stolen crypto assets. By going beyond simple transaction tracing, Tawny Swift's Digital Footprint Analysis delves into the deeper layers of the digital landscape, uncovering valuable information that can lead to the identification of culprits and the recovery of crypto funds. The benefits of this new model include: Increased Recovery Rates: A more comprehensive analysis leads to a higher probability of successfully tracing and recovering lost or stolen assets. Enhanced Investigative Capabilities: Digital Footprint Analysis equips investigators with a broader range of tools and techniques to understand the intricacies of crypto theft. Improved Legal Action: The detailed evidence gathered through Digital Footprint Analysis provides a stronger foundation for legal action and potential asset forfeiture. Deterrent Effect: By demonstrating the traceability of crypto transactions, this model serves as a deterrent against future illicit activities within the cryptocurrency space. Tawny Swift Ltd. is committed to providing comprehensive support to victims of crypto theft and loss. The introduction of Digital Footprint Analysis marks a significant step forward in the firm's mission to empower individuals and businesses to recover their digital assets and navigate the complex world of cryptocurrency with confidence. About Tawny Swift Ltd. Tawny Swift Ltd. is a leading crypto recovery firm specializing in tracing and recovering lost or stolen cryptocurrency. With a team of experienced investigators and cutting-edge technology, Tawny Swift Ltd. provides comprehensive solutions for individuals and businesses seeking to reclaim their digital assets. Media Contact: Company Name: Tawny Swift Ltd Contact Person: Peter Lim Website: Email: contact@ TIME BUSINESS NEWS
Yahoo
04-03-2025
- Business
- Yahoo
Yeo Jia Min ends 6-year badminton title drought with 2025 German Open win; Valencia CF owner Peter Lim puts club for sale for $562 million: Singapore live news
And that's a wrap. Thanks for tuning in. We'll catch y'all again next week. Hello to all our readers, Yahoo Singapore will be bringing you live news updates today. The editorial team will be curating the latest must-know local and international news. First off, Singapore's Yeo Jia Min celebrated a major milestone at the 2025 German Open, ending a six-year title drought with a dominant 21-16, 21-17 victory over Nguyen Thuy Linh Sunday (2 March). The win, her first BWF Super 300 title, adds to her growing list of accomplishments in international badminton. The 26-year-old said victory is a result of consistent improvement, both mentally and tactically, under the guidance of coach Kim Ji-hyun. Meanwhile, Loh Kean Yew impressed with his performance in the men's singles final, despite falling short to Denmark's Viktor Axelsen. With this win, Yeo is now looking ahead to more successes, aiming to break into the top 10 rankings and claim further titles in 2025. Singapore Prime Minister and Finance Minister Lawrence Wong reaffirmed Singapore's commitment to providing humanitarian aid to Gaza in a speech at the Humanity Matters Relief Packing Exercise Sunday (2 March). With the conflict worsening, Singapore continues to contribute financially and logistically to alleviate suffering in the region. More on PM Wong's pledge for continued support for Gaza here. Singaporean billionaire Peter Lim has reportedly placed Valencia CF up for sale for $562 million (€400 million), following years of financial decline and fan protests. The club's future now hangs in the balance, with hopes that new ownership could bring stability and success. With debts reaching €340 million and a stalled stadium project, the sale presents an opportunity for a fresh start. Read more in our live blog below, including the latest local and international news and updates. Singapore sees record 307 business closures in 2024 as costs rise Bubble tea giant Mixue's shares surge 30% on Hong Kong IPO debut Microsoft announces Skype's shutdown in favour of Teams Oscars 2025: dominates with 5 Academy Awards Year of the Dragon fails to boost Singapore's birth rate CDL shares dive amid Succession-style father-son boardroom power struggle Hong Kong singer-songwriter Khalil Fong dies at 41 after long battle with illness Peter Lim, the controversial Singaporean billionaire owner of Valencia Football Club, has officially placed the club on the market for $562 million (€400 million), according reports in the Spanish media. The decision follows years of discontent from fans who have grown increasingly frustrated with his management and the club's financial struggles. Despite initially rescuing Valencia from the brink of bankruptcy in 2014, Lim's tenure has been marred by poor decision-making, financial instability, and a lack of investment, particularly in the long-stalled Nou Mestalla stadium project. In recent years, Valencia has faced mounting challenges, including a revolving door of managers, the sale of top players, and fears of relegation. The club, which once competed in European competitions, now finds itself struggling in La Liga, languishing in the lower part of the table. Fans have long expressed their discontent, with regular "Lim Go Home" protests at Mestalla, and the frustration reached a new level when two Spanish nationals were detained by Singaporean authorities for protesting Lim's ownership. The couple, Dani Cuesta and Mireia Sáez, who were on their honeymoon in Singapore, held a banner that read "Lim Go Home" outside Lim's residence, leading to their brief detention by Singapore police. After being issued a "stern warning," the couple left Singapore, but their protest highlighted the international reach of Valencia fans' dissatisfaction. The incident underscores the deepening divide between Lim and the fanbase, which has been calling for a change in ownership for years. Valencia's financial woes are significant, with debts reported to be as high as €340 million. While the club has agreed to resume work on the Nou Mestalla project, any potential buyer will need to help fund its completion. Interest in buying the club has surfaced in the past, with figures such as PSG president Nasser Al Khelaifi reportedly among the potential investors. However, the real challenge remains whether Lim can find a buyer who is willing to take on the club's debt and invest in its future. With the club facing an uncertain future, fans are hopeful that new ownership will bring the stability and success that Valencia desperately needs. The sale could mark the beginning of a new era for the club, one that might finally restore its competitive edge in La Liga and ensure the completion of its long-awaited stadium. In a triumphant return to form, Singapore's Yeo Jia Min clinched her first Badminton World Federation (BWF) World Tour title in six years at the German Open on Sunday (2 March) by defeating Vietnam's Nguyen Thuy Linh 21-16, 21-17 in the women's singles final. Meanwhile, her compatriot, Loh Kean Yew, despite falling short in the men's final, also impressed with a strong performance. With her win at the Westenergie Sporthalle in Mulheim, Germany, Yeo claimed her third World Tour title and fifth international title overall, following her Polish Open win in 2023. The 26-year-old's victory came after a long stretch of near misses, including a painful defeat at the 2021 Hylo Open. She then recorded a good run in 2024, breaking her winless streak against 2019 world champion P V Sindhu of India, and defeating four top-10 players An Se-young of South Korea, Akane Yamaguchi of Japan, Han Yue of China and Gregoria Tunjun of Indonesia. The world No 13's good form continued in early 2025 by making the quarter-finals at the Super 1000 Malaysia Open and Super 750 India Open. Yeo dominated the final in Mulheim sealing the match in just 41 minutes. From the start, she showcased her exceptional skills, pulling off well-timed drop shots and dominating the net play. Nguyen, ranked 29th in the world, struggled to match Yeo's sharp angles and strategic play, despite briefly fighting back in the second game. Alongside Yeo's victory, her compatriot Loh Kean Yew also showcased his resilience, although he fell short against Denmark's Viktor Axelsen in the men's singles final. Loh gave a spirited performance, coming from behind multiple times, but ultimately lost 21-19, 21-18. Singapore's Prime Minister Lawrence Wong reaffirmed the nation's strong commitment to aiding Gaza, as the ongoing conflict in the region continues to highlight broader global instability. Speaking at a humanitarian relief event on Sunday (2 March), which coincided with the first day of Ramadan, Wong underscored the importance of international solidarity in addressing Gaza's crisis while emphasising unity and kindness within Singapore to face global challenges. Wong reiterated Singapore's long-standing support for Palestinian statehood and humanitarian aid efforts at the Humanity Matters Relief Packing Exercise for Gaza. In February, Singapore's first female president Halimah Yacob dismissed US President Donald Trump's controversial plan for the US to take over Gaza and re-settle Palestinians in other countries. Singapore's former President described the idea as 'truly horrifying' and a 'a clear violation of international laws.' The nation has contributed more than $19 million in aid and sent seven humanitarian shipments to Gaza, reflecting its commitment to addressing the urgent needs of the region. 'The suffering of civilians speaks to our shared humanity,' Wong said, urging Singaporeans to continue contributing to humanitarian efforts despite the geographical distance from Gaza. He also stressed that while Gaza's needs are vast, every contribution – from volunteer work to donations – matters greatly. Wong highlighted the growing global instability, warning that the world was becoming more dangerous and resembling a 'lawless jungle' where might often prevails over international norms. He called on Singaporeans to stay united, reminding them that solidarity and mutual respect are what make the nation resilient in the face of global turbulence. In addition to the relief packing exercise, the Singapore government continues to support various initiatives like the M3 Bazaar for Gaza, launched during Ramadan, to raise funds for the region. Singapore's efforts are also reflected in its ongoing support for a negotiated two-state solution for Palestine, ensuring long-term peace in the Middle East. Read on PM Wong's pledge for continued support for Gaza here. In 2024, Singapore saw a significant rise in business closures, with 307 companies forced into compulsory liquidation, marking the highest level since 2010. This surge in insolvencies signals a growing strain on the local economy as firms struggle with mounting costs and economic uncertainty. The Ministry of Law reported that the number of companies winding up in Singapore has more than doubled from 201 to 307 in just a year. Analysts point to rising operational costs, including higher rents, as a key factor driving small businesses to the brink. The pressures are felt across industries, from hawker stalls to larger corporate entities, as the cost of living and doing business in Singapore continues to climb. As the economy faces these challenges, growth projections for 2025 have been downgraded. Singapore's expected growth for this year is between 1 per cent and 3 per cent, significantly lower than the 4.4 per cent seen in 2024. The slowdown is attributed to external factors like rising protectionism, as Singapore is highly trade-dependent. With business closures at a 15-year high, experts warn that more companies may struggle to remain afloat unless these rising operational costs are addressed. Read on Singapore's corporate insolvencies here. Shares of Mixue Ice Cream and Tea, China's largest bubble tea and iced drink chain, surged nearly 30 per cent on their first day of trading on the Hong Kong Stock Exchange on Monday (3 Mar). The company raised a total of US$444 million in its initial public offering (IPO), making it the most significant IPO in Hong Kong this year. Founded in 1997 as a small ice shop in Zhengzhou, Mixue has grown to dominate the global bubble tea and iced drink market with over 45,000 stores worldwide, including Singapore, surpassing even Starbucks' 40,576 locations. Unlike Starbucks, Mixue operates primarily through franchising, with 99 per cent of its stores run by franchisees. This model has allowed the company to expand rapidly, adding more than 8,500 new stores in 2023 alone. Mixue's IPO was met with overwhelming investor interest, with retail subscriptions oversubscribed by more than 5,000 times, making it one of the most popular offerings in Hong Kong's history. Retail investors applied for a record HK$1.8 trillion in margin loans to buy shares, reflecting the massive demand for the company's stock. The chain's business model sets it apart from competitors like Starbucks. Mixue generates most of its revenue by selling ingredients, packaging, and equipment to its franchisees rather than relying on traditional franchise fees. In 2024, more than 97 per cent of Mixue's revenue came from these product sales, highlighting the company's vertically integrated supply chain. Read on Mixue's successful Hong Kong IPO debut here. Microsoft announced on Friday (28 Feb) that Skype, once the dominant force in video communication, will be officially retired on 5 May 2025. The decision comes as Microsoft focuses on Teams, its business-oriented platform. Skype, founded in 2003, was one of the first services to make video calling mainstream. Acquired by Microsoft in 2011 for US$8.5 billion, the platform initially thrived as a consumer-facing tool. Skype's decline is attributed to its inability to adapt to changing consumer preferences and its failure to fully integrate with Microsoft's business strategy. Despite its early success, Skype's relevance began to fade as competitors like Zoom and WhatsApp surged ahead, especially during the pandemic, when the demand for video conferencing exploded. Skype's shutdown marks the end of a significant chapter in communication technology. Read on Skype going offline in 2025 here. The 2025 Academy Awards saw Anora sweep the night, winning five prestigious Oscars, including Best Picture, Best Director for Sean Baker, and Best Actress for Mikey Madison. Hosted by Conan O'Brien, the event held at Hollywood's Dolby Theatre also featured notable wins from Adrien Brody, Kieran Culkin, and Zoe Saldaña. Baker's Anora, a stirring drama about a New York stripper and a Russian heir's tumultuous love affair, marked a historic achievement, with Baker winning four Academy Awards, including Best Director. Adrien Brody won his second Oscar for Best Actor in The Brutalist. In the supporting categories, Kieran Culkin received Best Supporting Actor for his role in A Real Pain, while Zoe Saldaña took home Best Supporting Actress for Emilia Pérez. The evening also featured a moving tribute to firefighters who battled the devastating Los Angeles wildfires earlier in the year, with a standing ovation for their bravery. Read on the Oscars' winners, the fashion, the viral moments here. Despite government initiatives and societal expectations for higher birth rates, Singapore's fertility rate in 2024 remains at 0.97, mirroring last year's historic low. The Year of the Dragon, traditionally seen as a favourable time for births, failed to reverse the trend of declining fertility in the city-state. Minister Indranee Rajah addressed the issue in Parliament, stressing that Singapore's aging population and decreasing workforce present long-term challenges for the economy. With fewer young people entering the workforce and a growing elderly population, the pressure on social systems and healthcare will only intensify. To counteract this, Singapore continues to enhance support for families, such as the introduction of the Large Families Scheme offering financial bonuses for families with three or more children. Despite these efforts, the country's fertility rate remains far below the replacement level, indicating that the issue goes beyond financial incentives. The government is increasingly relying on immigration as a solution to bolster the local workforce. In 2024, 24,000 new citizens and 35,000 new permanent residents were welcomed to Singapore, reflecting a modest increase over previous years. As the population faces rapid demographic changes, Singapore emphasised that it will continue to adjust its population strategies to address both the short-term and long-term needs of the country. Read on the growing concern about Singapore's low birth rate here. Shares of City Developments Ltd (CDL) plunged 7 per cent this week, hitting their lowest point since 2009, after a high-profile family feud between the company's patriarch, Kwek Leng Beng, and his son, CEO Sherman Kwek. CDL shares dropped 28 cents, or 5.47 per cent upon trading resumption Monday (3 March). The elder Kwek has accused his son of breaching corporate governance laws and making poor business decisions that led to significant financial losses. Sherman Kwek has denied these claims, insisting that the board acted in the best interests of the company. This legal battle, which includes a lawsuit and duelling statements from both sides, has caused concern among investors, particularly in light of CDL's already challenging financial situation. The family struggle, which mirrors the dramatic power plays in Succession, has made waves in the business world, with many questioning the future of the company. Read on the Kwek's boardroom family drama that led to sharp decline in CDL stock price here. Celebrated Hong Kong singer-songwriter Khalil Fong passed away at the age of 41 on 21 Feb after a prolonged battle with illness. His death was confirmed by his music label, Fu Music, on Saturday (2 March). Fong's passing has left fans and colleagues mourning his loss, with tributes pouring in from notable figures like Singapore's JJ Lin, who expressed his shock on Instagram, saying, 'Soul boy, gone too soon. You will be deeply missed.' View this post on Instagram A post shared by JJ Lin (@jjlin) Best known for his unique fusion of R&B and soul with Mandopop, Fong leaves behind an impressive musical legacy, including hits like Love Love Love and Special Person. Fong was born in Hawaii in 1983 and relocated to Hong Kong in the late 1990s. He rose to fame with his 2005 debut album Soulboy, marking a new era in Mandopop with his distinctive sound. Despite his flourishing career, Fong faced severe health setbacks in 2010 when he was diagnosed with pneumothorax. His condition, a collapsed lung, prompted multiple hospitalisations, ultimately leading him to retreat from the public eye after his 2016 album Journey to the West. In 2024, Fong made a triumphant return to the music scene with The Dreamer, an album reflecting his ongoing struggles with illness. In an Instagram post, he shared that the recording process was both a challenge and a relief during a difficult time in his life. View this post on Instagram A post shared by Khalil Fong (@soulboykhalilfong) He had been optimistic despite his health battles and even posted a New Year message on social media just days before his passing. Fong's influence extended beyond music. He was also a children's book author, creating a series of graphic novels titled Emi The Dream Catcher. Read on Khalil Fong's passing here. Peter Lim, the controversial Singaporean billionaire owner of Valencia Football Club, has officially placed the club on the market for $562 million (€400 million), according reports in the Spanish media. The decision follows years of discontent from fans who have grown increasingly frustrated with his management and the club's financial struggles. Despite initially rescuing Valencia from the brink of bankruptcy in 2014, Lim's tenure has been marred by poor decision-making, financial instability, and a lack of investment, particularly in the long-stalled Nou Mestalla stadium project. In recent years, Valencia has faced mounting challenges, including a revolving door of managers, the sale of top players, and fears of relegation. The club, which once competed in European competitions, now finds itself struggling in La Liga, languishing in the lower part of the table. Fans have long expressed their discontent, with regular "Lim Go Home" protests at Mestalla, and the frustration reached a new level when two Spanish nationals were detained by Singaporean authorities for protesting Lim's ownership. The couple, Dani Cuesta and Mireia Sáez, who were on their honeymoon in Singapore, held a banner that read "Lim Go Home" outside Lim's residence, leading to their brief detention by Singapore police. After being issued a "stern warning," the couple left Singapore, but their protest highlighted the international reach of Valencia fans' dissatisfaction. The incident underscores the deepening divide between Lim and the fanbase, which has been calling for a change in ownership for years. Valencia's financial woes are significant, with debts reported to be as high as €340 million. While the club has agreed to resume work on the Nou Mestalla project, any potential buyer will need to help fund its completion. Interest in buying the club has surfaced in the past, with figures such as PSG president Nasser Al Khelaifi reportedly among the potential investors. However, the real challenge remains whether Lim can find a buyer who is willing to take on the club's debt and invest in its future. With the club facing an uncertain future, fans are hopeful that new ownership will bring the stability and success that Valencia desperately needs. The sale could mark the beginning of a new era for the club, one that might finally restore its competitive edge in La Liga and ensure the completion of its long-awaited stadium. In a triumphant return to form, Singapore's Yeo Jia Min clinched her first Badminton World Federation (BWF) World Tour title in six years at the German Open on Sunday (2 March) by defeating Vietnam's Nguyen Thuy Linh 21-16, 21-17 in the women's singles final. Meanwhile, her compatriot, Loh Kean Yew, despite falling short in the men's final, also impressed with a strong performance. With her win at the Westenergie Sporthalle in Mulheim, Germany, Yeo claimed her third World Tour title and fifth international title overall, following her Polish Open win in 2023. The 26-year-old's victory came after a long stretch of near misses, including a painful defeat at the 2021 Hylo Open. She then recorded a good run in 2024, breaking her winless streak against 2019 world champion P V Sindhu of India, and defeating four top-10 players An Se-young of South Korea, Akane Yamaguchi of Japan, Han Yue of China and Gregoria Tunjun of Indonesia. The world No 13's good form continued in early 2025 by making the quarter-finals at the Super 1000 Malaysia Open and Super 750 India Open. Yeo dominated the final in Mulheim sealing the match in just 41 minutes. From the start, she showcased her exceptional skills, pulling off well-timed drop shots and dominating the net play. Nguyen, ranked 29th in the world, struggled to match Yeo's sharp angles and strategic play, despite briefly fighting back in the second game. Alongside Yeo's victory, her compatriot Loh Kean Yew also showcased his resilience, although he fell short against Denmark's Viktor Axelsen in the men's singles final. Loh gave a spirited performance, coming from behind multiple times, but ultimately lost 21-19, 21-18. Singapore's Prime Minister Lawrence Wong reaffirmed the nation's strong commitment to aiding Gaza, as the ongoing conflict in the region continues to highlight broader global instability. Speaking at a humanitarian relief event on Sunday (2 March), which coincided with the first day of Ramadan, Wong underscored the importance of international solidarity in addressing Gaza's crisis while emphasising unity and kindness within Singapore to face global challenges. Wong reiterated Singapore's long-standing support for Palestinian statehood and humanitarian aid efforts at the Humanity Matters Relief Packing Exercise for Gaza. In February, Singapore's first female president Halimah Yacob dismissed US President Donald Trump's controversial plan for the US to take over Gaza and re-settle Palestinians in other countries. Singapore's former President described the idea as 'truly horrifying' and a 'a clear violation of international laws.' The nation has contributed more than $19 million in aid and sent seven humanitarian shipments to Gaza, reflecting its commitment to addressing the urgent needs of the region. 'The suffering of civilians speaks to our shared humanity,' Wong said, urging Singaporeans to continue contributing to humanitarian efforts despite the geographical distance from Gaza. He also stressed that while Gaza's needs are vast, every contribution – from volunteer work to donations – matters greatly. Wong highlighted the growing global instability, warning that the world was becoming more dangerous and resembling a 'lawless jungle' where might often prevails over international norms. He called on Singaporeans to stay united, reminding them that solidarity and mutual respect are what make the nation resilient in the face of global turbulence. In addition to the relief packing exercise, the Singapore government continues to support various initiatives like the M3 Bazaar for Gaza, launched during Ramadan, to raise funds for the region. Singapore's efforts are also reflected in its ongoing support for a negotiated two-state solution for Palestine, ensuring long-term peace in the Middle East. Read on PM Wong's pledge for continued support for Gaza here. In 2024, Singapore saw a significant rise in business closures, with 307 companies forced into compulsory liquidation, marking the highest level since 2010. This surge in insolvencies signals a growing strain on the local economy as firms struggle with mounting costs and economic uncertainty. The Ministry of Law reported that the number of companies winding up in Singapore has more than doubled from 201 to 307 in just a year. Analysts point to rising operational costs, including higher rents, as a key factor driving small businesses to the brink. The pressures are felt across industries, from hawker stalls to larger corporate entities, as the cost of living and doing business in Singapore continues to climb. As the economy faces these challenges, growth projections for 2025 have been downgraded. Singapore's expected growth for this year is between 1 per cent and 3 per cent, significantly lower than the 4.4 per cent seen in 2024. The slowdown is attributed to external factors like rising protectionism, as Singapore is highly trade-dependent. With business closures at a 15-year high, experts warn that more companies may struggle to remain afloat unless these rising operational costs are addressed. Read on Singapore's corporate insolvencies here. Shares of Mixue Ice Cream and Tea, China's largest bubble tea and iced drink chain, surged nearly 30 per cent on their first day of trading on the Hong Kong Stock Exchange on Monday (3 Mar). The company raised a total of US$444 million in its initial public offering (IPO), making it the most significant IPO in Hong Kong this year. Founded in 1997 as a small ice shop in Zhengzhou, Mixue has grown to dominate the global bubble tea and iced drink market with over 45,000 stores worldwide, including Singapore, surpassing even Starbucks' 40,576 locations. Unlike Starbucks, Mixue operates primarily through franchising, with 99 per cent of its stores run by franchisees. This model has allowed the company to expand rapidly, adding more than 8,500 new stores in 2023 alone. Mixue's IPO was met with overwhelming investor interest, with retail subscriptions oversubscribed by more than 5,000 times, making it one of the most popular offerings in Hong Kong's history. Retail investors applied for a record HK$1.8 trillion in margin loans to buy shares, reflecting the massive demand for the company's stock. The chain's business model sets it apart from competitors like Starbucks. Mixue generates most of its revenue by selling ingredients, packaging, and equipment to its franchisees rather than relying on traditional franchise fees. In 2024, more than 97 per cent of Mixue's revenue came from these product sales, highlighting the company's vertically integrated supply chain. Read on Mixue's successful Hong Kong IPO debut here. Microsoft announced on Friday (28 Feb) that Skype, once the dominant force in video communication, will be officially retired on 5 May 2025. The decision comes as Microsoft focuses on Teams, its business-oriented platform. Skype, founded in 2003, was one of the first services to make video calling mainstream. Acquired by Microsoft in 2011 for US$8.5 billion, the platform initially thrived as a consumer-facing tool. Skype's decline is attributed to its inability to adapt to changing consumer preferences and its failure to fully integrate with Microsoft's business strategy. Despite its early success, Skype's relevance began to fade as competitors like Zoom and WhatsApp surged ahead, especially during the pandemic, when the demand for video conferencing exploded. Skype's shutdown marks the end of a significant chapter in communication technology. Read on Skype going offline in 2025 here. The 2025 Academy Awards saw Anora sweep the night, winning five prestigious Oscars, including Best Picture, Best Director for Sean Baker, and Best Actress for Mikey Madison. Hosted by Conan O'Brien, the event held at Hollywood's Dolby Theatre also featured notable wins from Adrien Brody, Kieran Culkin, and Zoe Saldaña. Baker's Anora, a stirring drama about a New York stripper and a Russian heir's tumultuous love affair, marked a historic achievement, with Baker winning four Academy Awards, including Best Director. Adrien Brody won his second Oscar for Best Actor in The Brutalist. In the supporting categories, Kieran Culkin received Best Supporting Actor for his role in A Real Pain, while Zoe Saldaña took home Best Supporting Actress for Emilia Pérez. The evening also featured a moving tribute to firefighters who battled the devastating Los Angeles wildfires earlier in the year, with a standing ovation for their bravery. Read on the Oscars' winners, the fashion, the viral moments here. Despite government initiatives and societal expectations for higher birth rates, Singapore's fertility rate in 2024 remains at 0.97, mirroring last year's historic low. The Year of the Dragon, traditionally seen as a favourable time for births, failed to reverse the trend of declining fertility in the city-state. Minister Indranee Rajah addressed the issue in Parliament, stressing that Singapore's aging population and decreasing workforce present long-term challenges for the economy. With fewer young people entering the workforce and a growing elderly population, the pressure on social systems and healthcare will only intensify. To counteract this, Singapore continues to enhance support for families, such as the introduction of the Large Families Scheme offering financial bonuses for families with three or more children. Despite these efforts, the country's fertility rate remains far below the replacement level, indicating that the issue goes beyond financial incentives. The government is increasingly relying on immigration as a solution to bolster the local workforce. In 2024, 24,000 new citizens and 35,000 new permanent residents were welcomed to Singapore, reflecting a modest increase over previous years. As the population faces rapid demographic changes, Singapore emphasised that it will continue to adjust its population strategies to address both the short-term and long-term needs of the country. Read on the growing concern about Singapore's low birth rate here. Shares of City Developments Ltd (CDL) plunged 7 per cent this week, hitting their lowest point since 2009, after a high-profile family feud between the company's patriarch, Kwek Leng Beng, and his son, CEO Sherman Kwek. CDL shares dropped 28 cents, or 5.47 per cent upon trading resumption Monday (3 March). The elder Kwek has accused his son of breaching corporate governance laws and making poor business decisions that led to significant financial losses. Sherman Kwek has denied these claims, insisting that the board acted in the best interests of the company. This legal battle, which includes a lawsuit and duelling statements from both sides, has caused concern among investors, particularly in light of CDL's already challenging financial situation. The family struggle, which mirrors the dramatic power plays in Succession, has made waves in the business world, with many questioning the future of the company. Read on the Kwek's boardroom family drama that led to sharp decline in CDL stock price here. Celebrated Hong Kong singer-songwriter Khalil Fong passed away at the age of 41 on 21 Feb after a prolonged battle with illness. His death was confirmed by his music label, Fu Music, on Saturday (2 March). Fong's passing has left fans and colleagues mourning his loss, with tributes pouring in from notable figures like Singapore's JJ Lin, who expressed his shock on Instagram, saying, 'Soul boy, gone too soon. You will be deeply missed.' View this post on Instagram A post shared by JJ Lin (@jjlin) Best known for his unique fusion of R&B and soul with Mandopop, Fong leaves behind an impressive musical legacy, including hits like Love Love Love and Special Person. Fong was born in Hawaii in 1983 and relocated to Hong Kong in the late 1990s. He rose to fame with his 2005 debut album Soulboy, marking a new era in Mandopop with his distinctive sound. Despite his flourishing career, Fong faced severe health setbacks in 2010 when he was diagnosed with pneumothorax. His condition, a collapsed lung, prompted multiple hospitalisations, ultimately leading him to retreat from the public eye after his 2016 album Journey to the West. In 2024, Fong made a triumphant return to the music scene with The Dreamer, an album reflecting his ongoing struggles with illness. In an Instagram post, he shared that the recording process was both a challenge and a relief during a difficult time in his life. View this post on Instagram A post shared by Khalil Fong (@soulboykhalilfong) He had been optimistic despite his health battles and even posted a New Year message on social media just days before his passing. Fong's influence extended beyond music. He was also a children's book author, creating a series of graphic novels titled Emi The Dream Catcher. Read on Khalil Fong's passing here.
Yahoo
04-03-2025
- Business
- Yahoo
Peter Lim refutes $562 million Valencia CF sale reports: Singapore live news
Hello to all our readers, Yahoo Singapore will be bringing you live news updates today. The editorial team will be curating the latest must-know local and international news. Valencia CF's future is up in the air, but Peter Lim's Meriton Holdings has denied media reports claiming that the Spanish football club is being sold for $562 million (€400 million). Meriton Holdings, which has been the majority shareholder in Valencia since 2014, dismissed the claims, asserting that the club is not for sale. These rumours come at a time when the club is facing significant debts, estimated at €340 million, and after a tumultuous period that saw the sacking of popular manager Marcelino Garcia Toral and disappointing team performances. Fan frustration has grown, with "Lim Go Home" protests becoming a common sight at Mestalla. Even an international protest outside Lim's residence in Singapore sparked a brief detention of two Spanish nationals. The tension between Lim and the fanbase has reached new heights, but Meriton remains steadfast in its commitment to managing the club's future. Amid these challenges, the club announced a significant leadership change. Kiat Lim, the son of Peter Lim, will take over as president on 5 March 2025. His appointment is seen as a sign of the Lim family's ongoing commitment to the club and its long-term stability. While Valencia's future remains uncertain, the Lim family is determined to navigate the challenges ahead, with Kiat Lim leading efforts to restore stability and success. Read more in our live blog below, including the latest local and international news and updates. Valencia CF is not for sale, Peter Lim's Meriton Holdings clarified, after Spanish media reported that the Singaporean billionaire was looking for a buyer for the football club. The reported asking price for Lim's majority stake in the club was $562 million (€400 million), following years of growing fan discontent and the club's ongoing financial struggles. In a statement emailed to Yahoo News Singapore by Meriton Holdings, the company firmly denied the rumours, asserting: 'Valencia CF is not up for sale, and Meriton remains committed to the club." This clarification follows reports in Spanish outlets that suggested Lim was seeking a buyer due to Valencia's mounting debts, which are reported to be as high as €340 million ($477 million). The rumours of a potential sale were first ignited by reports from Spanish media, which claimed that Peter Lim was seeking €400 million for his 70.4 per cent stake in the club. These reports came after years of turmoil under Lim's ownership, which began in 2014 when he rescued Valencia from bankruptcy. However, his tenure has been marred by poor decision-making, mounting debts, and dissatisfaction from fans, who have frequently staged "Lim Go Home" protests at Mestalla. The protests reached an international level when two Spanish nationals were detained by Singaporean authorities after they displayed a "Lim Go Home" banner outside Lim's residence. This incident highlighted the ongoing frustration from fans who are desperate for a change in ownership, hoping for someone who can bring stability and success to the club. The club has faced multiple challenges, including financial instability and an unfinished Nou Mestalla stadium project. Despite efforts to resume construction, the burden of Valencia's debts and its recent underperformance in La Liga have made the club a challenging investment. As a result, speculation about potential buyers, including PSG president Nasser Al Khelaifi, has circulated, but no formal offers have materialised. Meriton Holdings reassured that it remains focused on revitalising Valencia's fortunes, dismissing any plans to sell the club. Despite the financial struggles, the company reiterated its long-term commitment to addressing these issues and building a competitive future for the club. Amid the ongoing speculation and fan protests, Valencia CF also announced a major leadership change. Kiat Lim, the son of Peter Lim, will officially take over as the new president of the club on 5 March. Kiat Lim, who has served as a director since 2022, will lead Valencia at a crucial time, as the club aims to resolve its financial issues and stabilise its operations. He succeeds Layhoon Chan, who expressed gratitude for her time leading the club and welcomed the transition to Kiat Lim, highlighting the shareholder's ongoing dedication to Valencia CF's future. Valencia CF is not for sale, Peter Lim's Meriton Holdings clarified, after Spanish media reported that the Singaporean billionaire was looking for a buyer for the football club. The reported asking price for Lim's majority stake in the club was $562 million (€400 million), following years of growing fan discontent and the club's ongoing financial struggles. In a statement emailed to Yahoo News Singapore by Meriton Holdings, the company firmly denied the rumours, asserting: 'Valencia CF is not up for sale, and Meriton remains committed to the club." This clarification follows reports in Spanish outlets that suggested Lim was seeking a buyer due to Valencia's mounting debts, which are reported to be as high as €340 million ($477 million). The rumours of a potential sale were first ignited by reports from Spanish media, which claimed that Peter Lim was seeking €400 million for his 70.4 per cent stake in the club. These reports came after years of turmoil under Lim's ownership, which began in 2014 when he rescued Valencia from bankruptcy. However, his tenure has been marred by poor decision-making, mounting debts, and dissatisfaction from fans, who have frequently staged "Lim Go Home" protests at Mestalla. The protests reached an international level when two Spanish nationals were detained by Singaporean authorities after they displayed a "Lim Go Home" banner outside Lim's residence. This incident highlighted the ongoing frustration from fans who are desperate for a change in ownership, hoping for someone who can bring stability and success to the club. The club has faced multiple challenges, including financial instability and an unfinished Nou Mestalla stadium project. Despite efforts to resume construction, the burden of Valencia's debts and its recent underperformance in La Liga have made the club a challenging investment. As a result, speculation about potential buyers, including PSG president Nasser Al Khelaifi, has circulated, but no formal offers have materialised. Meriton Holdings reassured that it remains focused on revitalising Valencia's fortunes, dismissing any plans to sell the club. Despite the financial struggles, the company reiterated its long-term commitment to addressing these issues and building a competitive future for the club. Amid the ongoing speculation and fan protests, Valencia CF also announced a major leadership change. Kiat Lim, the son of Peter Lim, will officially take over as the new president of the club on 5 March. Kiat Lim, who has served as a director since 2022, will lead Valencia at a crucial time, as the club aims to resolve its financial issues and stabilise its operations. He succeeds Layhoon Chan, who expressed gratitude for her time leading the club and welcomed the transition to Kiat Lim, highlighting the shareholder's ongoing dedication to Valencia CF's future.
