Company Briefs : CMA CGM

Shipping giant CMA CGM is collaborating with the Maritime and Port Authority of Singapore (MPA) to explore the use of low carbon fuels and green technologies for commercial shipping.

CMA CGM has ordered 16 vessels, including 10 to be powered by liquefied natural gas (LNG) and six by methanol.

As part of its collaboration with the MPA, CMA CGM will register three of these e-methane-ready, LNG-powered vessels under the Singapore flag.

REUTERS

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H&M

H&M has shut its flagship Shanghai store, its latest closure in China where consumer demand has slumped amid Covid-19 lockdowns, and the fast-fashion retailer has borne the brunt of a backlash against companies that refuse to use Xinjiang cotton.

Although it was open earlier this month, the three-storey building in downtown Shanghai was yesterday boarded up with its H&M signage gone.

The world's second-biggest fast-fashion retailer had more than 500 stores in mainland China early last year but its website currently only lists 376, including the flagship Shanghai store.

REUTERS

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NutryFarm

NutryFarm International's financial controller and joint company secretary Yang Kai Leong will step down from July 31 to pursue other career opportunities, the durian and health foods distributor said yesterday. The move comes about four months after his appointment on April 6. The 35-year-old is in charge of finance operations and is joint secretary for Nutryfarm's corporate matters. On April 24, Mr Lim Boo Hiong, Nutryfarm's acting chief financial officer and joint company secretary, quit due to health reasons. He had taken on the roles on Oct 1, 2021.

THE BUSINESS TIMES