Company Briefs: AMTD International

PHOTO: EZION
Ezion HoldingsPHOTO: EZION

AMTD International 

Investment banking firm AMTD International, which is dual-listed in New York and Singapore, has promoted Mr William Fung to chief executive, succeeding Mr Calvin Choi.

This is in addition to Mr Fung's current position of group vice-president of the company's parent, Hong Kong-based AMTD Group. Mr Fung was AMTD International's chief investment officer and head of asset management.

Meanwhile, Mr Choi and the vice-chairman Andrew Chiu will step down from the company's board.

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Telegram

Encrypted messaging app Telegram will launch pay-for services next year, its Russian-born founder Pavel Durov said Wednesday, as the growing company needed "at least a few hundred million dollars per year".

"Telegram will begin to generate revenue, starting next year," Mr Durov said in a statement. "We will be able to launch countless new features and welcome billions of new users."

Mr Durov, 36, said he did not plan to sell the company and therefore needed to look for other ways to come up with funding.

AGENCE FRANCE-PRESSE


Ezion Holdings

The offshore and marine player posted a net loss of US$224.5 million (S$298.4 million) for the third quarter ended Sept 30, widening from a net loss of US$71 million a year ago.

Its revenue shrank 79 per cent to US$5.2 million from US$24.7 million in the corresponding quarter of the previous year. Loss per share increased to 5.98 US cents from 1.91 US cents. It attributed the revenue drop to a decrease in the units owned, utilised and chartered for its jack-up rigs, and a decrease in utilisation rates for its liftboats.

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A version of this article appeared in the print edition of The Straits Times on December 25, 2020, with the headline 'Company Briefs: AMTD International '. Print Edition | Subscribe