Company briefs: Moderna; Roxy-Pacific; Airbnb

Biotechnology company Moderna has announced plans to set up a new subsidiary in Singapore, along with three additional ones in Malaysia, Taiwan and Hong Kong. The new subsidiaries will add to the Covid-19 vaccine manufacturer's presence in the Asia-Pacific region. It currently has offices in Japan, South Korea and Australia.

In a statement on Tuesday, Moderna chief executive Stéphane Bancel said: "I am pleased to announce that Moderna will be expanding into Singapore, the biotech epicentre of Asia... The Singapore biopharma industry is witnessing an incredible period of growth."

The Singapore Exchange has approved the delisting application for Roxy-Pacific Holdings, as the residential property managing company's free float has fallen below the 10 per cent threshold.

This comes as offeror TKL & Family and its concert parties now hold more than 90 per cent of all company shares, excluding treasury shares, the company said in a bourse filing yesterday.

TKL & Family is the bid vehicle of Roxy-Pacific chairman and chief executive Teo Hong Lim and 10 others last September to privatise the company.

THE BUSINESS TIMES

Airbnb on Tuesday forecast better-than-expected first-quarter revenue after the short-term home rental company reported strong quarterly results on rising domestic travel and longer stays by guests at higher prices. It expects current-quarter revenue of between US$1.41 billion (S$1.9 billion) and US$1.48 billion, higher than analysts' estimates of US$1.24 billion, according to Refinitiv IBES.

While the San Francisco-based firm was initially hit by the pandemic, its business rebounded quickly as people took trips closer to home where they stayed for longer to work remotely.

REUTERS