Company Briefs: FWD Group Mapletree Investments BNP Paribas

FWD Group Holdings, the Asian insurer backed by billionaire Richard Li, has decided to postpone its Hong Kong initial public offering (IPO) due to market volatility, according to people familiar with the matter.

The company could resume its listing plans when market conditions become favourable again, said the people, who asked not to be identified as the information is private. FWD won approval for its Hong Kong IPO last month but had not decided when to launch the share sale, Bloomberg News reported. The insurer is seeking to raise about US$1 billion (S$1.4 billion), people familiar with the matter said.

BLOOMBERG

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Mapletree Investments 

Mapletree Investments' net profit for the financial year ended March 31 grew 6.2 per cent year on year to $1.96 billion on the back of a record year of recurring earnings as well as higher revenue. The property developer and manager yesterday reported recurring earnings of $810.2 million, up 27.9 per cent from the previous year. This was further boosted by about $1 billion in property revaluation gains, said the group. Revenue grew 4.6 per cent year on year to $2.9 billion, mainly boosted by new portfolio acquisitions as well as higher revenue contributions from its four Singapore-listed real estate investment trusts.

THE BUSINESS TIMES

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BNP Paribas

BNP Paribas announced a plan to hire as many as 7,000 people in France this year, as the lender implements a strategy to drive growth through technology and sustainable finance.

The recruitment effort will focus on retail and corporate services, and information technology and support functions, as part of its strategy through 2025, the bank said in a statement yesterday.

Some 3,000 of those roles will be permanent and the rest allocated for apprentices and interns, the bank said.

BLOOMBERG