Sheng Siong

Supermarket operator Sheng Siong posted net profit of $32.1 million for the fourth quarter ended Dec 31, up 84.9 per cent from $17.4 million a year earlier.

Elevated demand driven by the pandemic lifted revenue 28.8 per cent to $319.3 million from $247.9 million in the same three months in 2019, thanks to better performances at existing stores and outlets opened last year, it said on Wednesday.

Earnings per share rose to 2.13 cents from 1.16 cents previously. Net profit for the full year came in at $139.1 million, 83.7 per cent higher than the $75.8 million reported in 2019.

THE BUSINESS TIMES

Traveloka

South-east Asia's largest online travel start-up plans to launch financial services in Thailand and Vietnam as it eyes a United States listing through a blank-cheque company.

The nine-year-old Indonesian company, which counts Expedia and China's JD.com among its backers, is seeing a strong rebound in its business after the pandemic pummelled demand.

President Caesar Indra said Traveloka's Vietnam business had surpassed pre-Covid-19 levels, is nearly back to normal in Thailand and is at half of pre-Covid-19 levels in Indonesia.

REUTERS

WeWork

WeWork co-founder and former chief executive Adam Neumann would give up his role on the company's board for at least a year under terms of a legal settlement in advanced discussions, said sources.

The agreement, which has not been finalised and could still change, would remove Mr Neumann's seat as a board observer for a year, after which he could request to attend meetings again without a vote or designate someone to take his place.

Spokesmen for WeWork and its biggest investor, SoftBank Group, declined to comment.

BLOOMBERG