Company briefs: JD.com

Chinese e-commerce platform JD.com reported a 39 per cent rise in quarterly revenue on Wednesday, aided by an expanded product line-up that helped draw more users.

Net revenue at JD.com, China's largest e-commerce company by revenue, rose to 203.2 billion yuan (S$42.1 billion) for the quarter ended March 31 from 146.2 billion yuan a year earlier.

Analysts on average had expected revenue of 191.83 billion yuan, according to IBES data from Refinitiv.

REUTERS

---

Thai Airways

Thai Airways International's creditors have approved the airline's debt restructuring plan, paving the way for payment extension and unpaid interest waiver on at least US$5.41 billion of its debt.

The plan was backed by 91 per cent of creditors at an online meeting, Mr Kitipong Urapeepatanapong, chairman of Baker & McKenzie in Bangkok, the airline's legal adviser, said by phone on Wednesday. Five people have been appointed as its administrators including acting chief executive officer Chansin Treenuchagron and former CEO Piyasvasti Amranand, Thai Airways said.

BLOOMBERG

---

No Signboard

Shares of Catalist-listed No Signboard Holdings closed 11.11 per cent higher yesterday after the company announced a new controlling shareholder. No Signboard said in a bourse filing after midnight that Gugong, a controlling shareholder which owns 74.91 per cent of the company, had agreed to sell a 20 per cent stake to Mr Su Hai Jin. No Signboard said the purchaser is a businessman with business interest in Singapore, and is not related to Gugong, the company or any substantial shareholders. No further details on the buyer were given.

THE BUSINESS TIMES