Company Briefs: Intel

Intel Corp shareholders have rejected compensation packages for top executives, including a payout of as much as US$178.6 million (S$247.8 million) to chief executive officer Pat Gelsinger (left), a regulatory filing showed on Monday.

About 1.78 billion votes were cast against executive compensation at the annual meeting, Intel said, though the vote is non-binding. About 921.2 million votes were cast in favour.

"We take our investors' feedback very seriously, and we are committed to engaging with them and addressing their concerns," Intel said.

REUTERS

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SEA 

Singapore's Sea Ltd has posted a wider quarterly loss as its revenue growth slowed, underscoring how online gaming and shopping are retreating from pandemic-era heights.

Its net loss in the first three months widened to US$579.8 million from US$422.7 million a year earlier, according to a statement yesterday. Total revenue climbed 64 per cent to US$2.9 billion, the slowest pace of growth in more than four years.

Sea revised its full-year outlook for e-commerce sales, its main source of revenue, to US$8.5 billion to US$9.1 billion.

BLOOMBERG

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 SK Inc

South Korea's SK Inc said yesterday that it has signed an agreement with TerraPower, a US venture founded by billionaire Bill Gates, to tap opportunities in connection with small nuclear power reactors, called small modular reactors.

SK Inc, the holding company for South Korea's second-largest conglomerate SK Group, said in a statement that it signed the agreement along with affiliate SK Innovation Co. The statement did not mention any investment details.

REUTERS