Mercuria

Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding.

The deal, signed on Wednesday, will see Mercuria present potential projects for investment to Envysion, founded and led by former Julius Baer banker Veronica Shim. Envysion will then decide whether to participate via a fund with a start-up amount of US$100 million (S$132 million) to US$200 million.

REUTERS

Honda Motor

Honda Motor said yesterday that its output in Japan could be affected by a shortage of semiconductors, becoming the latest automaker hit by a chip crunch as demand rebounds from the coronavirus crisis.

The Japanese automaker will first shrink its production by about 4,000 units this month, mainly affecting the Fit subcompact made at a plant in the city of Suzuka in Mie prefecture.

While Honda's semiconductor inventory is secured until next month, the company is "currently under examination for supplies from then on, including alternative supplies", a spokesman said.

REUTERS

Total

Total will be as active in adding renewable energy assets this year as it was last year, chief executive Patrick Pouyanne said yesterday.

Total is trying to reduce its dependence on oil and shift towards electricity and renewable energy. It aims to have 35 gigawatts (GW) of gross renewable energy generation capacity by 2025 from around 9GW now.

Mr Pouyanne said the investment budget for electricity and renewables would surpass US$2 billion (S$2.65 billion) this year.

REUTERS