Company Briefs

The Australian unit of Singtel said yesterday that it has appointed Ms Gladys Berejiklian, the former premier of New South Wales state, to its executive team.

Ms Berejiklian, who was NSW premier from 2017 to 2021, will take up the newly created role of managing director, enterprise, business and institutional, Optus said. The appointment marks Ms Berejiklian's first major role since her shock resignation last October as the head of Australia's biggest state amid a corruption probe relating to her personal relationship with a politician under investigation over grant funding.

REUTERS

The court is restraining mainboard-listed mDR from dealing with a property linked to its loan dispute with MKY Capital, the firm said in a Thursday bourse filing.

In 2021, mDR, which is an after-market service provider for consumer mobile products, had appointed receivers for a property located at 8 Devonshire Road, after MKY had defaulted on certain interest payments for a $24 million loan.

MKY later filed an originating summons against mDR, to seek, among other things, the declaration that MKY is entitled to exercise its equitable right of redemption over the property.

THE BUSINESS TIMES

Mercedes-Benz's 2021 earnings beat forecast after rising vehicle prices helped the luxury carmaker claw its way back from an autumn low-point in the global chip crisis. Adjusted returns on sales at its cars and vans segment hit 12.7 per cent, compared with an expected 10 per cent to 12 per cent range, it said. Strong new and used vehicle pricing helped achieve the result. The company said adjusted earnings before interest and taxes at the division was around €14 billion (S$21.5 billion) for the full year. Mercedes shares gained as much as 2.9 per cent on the news.

BLOOMBERG