Singtel

Singtel announced yesterday it has appointed former manpower minister Lim Swee Say as a non-executive independent director in the group.

Mr Lim, 66, had also served as secretary-general of the National Trades Union Congress (NTUC) prior to his appointment as manpower minister from 2015 to 2018.

He currently holds various positions such as NTUC trustee and chairman of the NTUC Administration and Research Unit's board of trustees. He is also deputy chairman of the Singapore Labour Foundation.

THE BUSINESS TIMES

CIMB

CIMB Group Holdings on Monday reported a 384 per cent bump in its first-quarter earnings, helped by a one-off gain related to an investment in its e-wallet business, plus higher income. A third-party investment in TNG Digital, jointly founded by its wholly owned subsidiary Touch 'n Go and China's Ant Group, led to a revaluation gain of RM1.16 billion (S$371.7 million), CIMB said in a statement.

The investment of about RM200 million was from a limited partnership fund managed by a US-based private equity firm which invests in online and mobile payment firms globally, it said, but did not name it.

REUTERS

Nestle

Global food giant Nestle said on Monday it was developing a new nutrition strategy after the Financial Times reported on an internal document showing that most of its food and drinks were unhealthy. An internal presentation earlier this year had shown over 60 per cent of its mainstream food and drinks portfolio did not meet "recognised definition of health", FT said, with only 37 per cent of the food and beverages by revenues (not including products like baby food and specialised medical nutrition) rated over 3.5 under Australia's five-star health rating.

AGENCE FRANCE-PRESSE