Company Briefs : Ecowise
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Ecowise
Ecowise said in a filing on the Singapore Exchange (SGX) yesterday that requests for repayments of overdue amounts by several banks and an inability to pay the security deposit to extend its lease indicate "material uncertainty" of the company's ability to continue operating. The filing was in response to SGX queries on the board's assessment of the company's ability to continue operating as a going concern.
The environmental solutions provider had said through a series of filings, after its financial results were released on March 1, that several banks in Malaysia had been chasing for payment.
THE BUSINESS TIMES
DBS
DBS Bank has appointed veteran banker Ginger Cheng as the new country chief executive officer for its China operations, it said yesterday. Ms Cheng, who will be appointed effective from April 1 subject to regulatory approval, is currently deputy CEO of DBS China and head of DBS' institutional banking group (IBG) there. She takes over the role from Mr Neil Ge, who will be retiring from the bank at the end of June. Ms Cheng will also be part of DBS' group management committee upon appointment. She has spent 20 years at DBS, and has held progressively senior roles in IBG in both Hong Kong and China.
THE BUSINESS TIMES
Starbucks
Starbucks Corp rose in early trading after saying chief executive Kevin Johnson plans to retire next month and founder and chairman emeritus Howard Schultz will return as interim CEO. Mr Johnson, 61, will step down on April 4 after 13 years with the company. He had signalled to the board a year ago that he would consider retirement when the pandemic neared an end, said the Seattle-based company. Mr Schultz, 68, is coming back amid a challenging start to the year for Starbucks, which faces rising costs and a growing unionisation movement across the United States.
BLOOMBERG