Company Briefs: Top Glove

Malaysia's Top Glove said yesterday that its first-quarter profit had been nearly wiped out, adding that it expected the business environment in the immediate term to be challenging.

The world's largest manufacturer of medical gloves posted net profit of RM185.7 million (S$60 million) during the September-November quarter, a plunge of 92 per cent from RM2.36 billion a year ago. Revenue tumbled 67 per cent to RM1.58 billion, its stock exchange filing showed.

The company said average selling prices and demand have been returning to normal.

REUTERS

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SenseTime

Chinese artificial intelligence start-up SenseTime Group is discussing the fate of its planned US$767 million (S$1.05 billion) Hong Kong initial public offering with the city's stock exchange, two people with direct knowledge of the matter said yesterday.

The move comes after the Financial Times reported on Thursday that the United States was putting the company on an investment blacklist yesterday that would mean US-based investors cannot buy shares in the company.

SenseTime had not been aware the blacklist was under consideration.

REUTERS

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Binance

Binance Holdings is in talks with Indonesia's richest family, the Hartonos, and a state-owned telecommunications operator to set up a cryptocurrency trading exchange, according to people with knowledge of the matter.

The world's largest crypto exchange has been in discussion with Bank Central Asia, controlled by billionaire siblings Budi and Michael Hartono, and Telkom Indonesia on the venture, the sources said.

The Hartonos also own a major cigarette manufacturer, a telecoms services firm as well as e-commerce businesses.

BLOOMBERG