Latest news with #Singaporean
South Wales Guardian
4 hours ago
- Business
- South Wales Guardian
Mulberry in talks over £20m cash-call as losses widen
The Somerset-based firm said it was launching the cash-call after a 'post-2024-25 year-end review by the executive management, and in light of an even more challenging trading environment'. It added: 'The board has concluded that the company will require additional capital to fund its growth strategy and achieve its desired financial targets.' Shares in the firm plunged 11% in Friday afternoon trading. Mulberry said it was in discussions with majority shareholder Challice – a group controlled by Singaporean entrepreneur Christina Ong and husband Ong Beng Seng – and major stakeholder Mike Ashley's Frasers Group over the fundraising. It comes as Mulberry expects to slump to an underlying pre-tax loss of around £23 million for the year to March 29 against losses of £22.6 million the previous year. The group is set to report annual revenues tumbling 21% to around £120 million, adding that it does expect 'material overall revenue growth' in the new financial year. Andrea Baldo, chief executive of Mulberry, said the group had taken action to overhaul the business and cut costs as part of plans laid out in January, including shutting some stores. It already axed around 85 jobs in the run-up to Christmas – around a quarter of its workforce – largely impacting head office workers. Mr Baldo said: 'In the near term, we are firmly in turnaround mode, focused on rebuilding profitability and gross margin, while strategically investing in brand building initiatives.' He added: 'We've taken action to reduce costs – restructuring head office and exiting unprofitable stores, delivering a lower run-rate cost base into 2025-26. 'Following our year-end review, the board and I are confident that, with additional funding, we can accelerate momentum and deliver against our targets at pace.' The firm said shareholder Challice was willing to underwrite the fundraising in full, but Mulberry said it hoped Frasers would also take part. 'Whilst these discussions are ongoing, the board notes that it may not be possible for all parties to agree fully on the structure of the fundraising, in which case the board… will conclude on the most appropriate structure for the company,' Mulberry said. It expects to complete the fundraising in July, to coincide with the publication of its annual results. Mr Baldo, who joined the group in September last year from Ganni, is restructuring the business with a focus on the UK market, rather than China, under aims to turn around its fortunes. Founded in 1971 in Somerset, Mulberry is most famous for its luxury, leather handbags. But it has seen trading hit hard in recent years, partly as a result of waning appetite for luxury goods among Chinese consumers, previously a key market for the fashion company. Mr Baldo said, in January, the company will focus less on China and close 12 stores across its Asian estate while aiming to open more shops in UK cities in future.
Glasgow Times
4 hours ago
- Business
- Glasgow Times
Mulberry in talks over £20m cash-call as losses widen
The Somerset-based firm said it was launching the cash-call after a 'post-2024-25 year-end review by the executive management, and in light of an even more challenging trading environment'. It added: 'The board has concluded that the company will require additional capital to fund its growth strategy and achieve its desired financial targets.' Shares in the firm plunged 11% in Friday afternoon trading. Mulberry said it was in discussions with majority shareholder Challice – a group controlled by Singaporean entrepreneur Christina Ong and husband Ong Beng Seng – and major stakeholder Mike Ashley's Frasers Group over the fundraising. It comes as Mulberry expects to slump to an underlying pre-tax loss of around £23 million for the year to March 29 against losses of £22.6 million the previous year. The group is set to report annual revenues tumbling 21% to around £120 million, adding that it does expect 'material overall revenue growth' in the new financial year. Andrea Baldo, chief executive of Mulberry, said the group had taken action to overhaul the business and cut costs as part of plans laid out in January, including shutting some stores. It already axed around 85 jobs in the run-up to Christmas – around a quarter of its workforce – largely impacting head office workers. Mr Baldo said: 'In the near term, we are firmly in turnaround mode, focused on rebuilding profitability and gross margin, while strategically investing in brand building initiatives.' He added: 'We've taken action to reduce costs – restructuring head office and exiting unprofitable stores, delivering a lower run-rate cost base into 2025-26. 'Following our year-end review, the board and I are confident that, with additional funding, we can accelerate momentum and deliver against our targets at pace.' The firm said shareholder Challice was willing to underwrite the fundraising in full, but Mulberry said it hoped Frasers would also take part. 'Whilst these discussions are ongoing, the board notes that it may not be possible for all parties to agree fully on the structure of the fundraising, in which case the board… will conclude on the most appropriate structure for the company,' Mulberry said. It expects to complete the fundraising in July, to coincide with the publication of its annual results. Mr Baldo, who joined the group in September last year from Ganni, is restructuring the business with a focus on the UK market, rather than China, under aims to turn around its fortunes. Founded in 1971 in Somerset, Mulberry is most famous for its luxury, leather handbags. But it has seen trading hit hard in recent years, partly as a result of waning appetite for luxury goods among Chinese consumers, previously a key market for the fashion company. Mr Baldo said, in January, the company will focus less on China and close 12 stores across its Asian estate while aiming to open more shops in UK cities in future.
The Star
4 hours ago
- Entertainment
- The Star
SG radio DJ Glenn Ong says he was 'unhappily married' in IG post on weight loss
Radio DJ Glenn Ong said he was in an unhappy marriage in a June 18 Instagram post celebrating his weight loss. Photo: Glenn Ong/Instagram Singaporean radio DJ Glenn Ong admitted he was 'unhappily married' in an Instagram post made on June 18 to celebrate his weight-loss journey. In it, he wrote that he will turn 55 on June 22, and that it has been two years since he started training two to three times a week to lose weight. 'From an unhealthy 84kg when I was unhappily married to a crazy happy 73kg now. Always choose happy if you can,' wrote the host of The Big Show With Glenn And Angel on SPH Radio's Kiss92, alluding to his eight-year marriage to fellow local radio DJ Jean Danker, 46, a host and presenter on Mediacorp's Class 95. The former couple, who did not have any children together, announced their split in December 2024. It was Ong's third marriage, following his first two with the late Kate Reyes and Jamie Yeo, both former radio DJs. Ong's post, in which he encouraged his 77,600 Instagram followers to exercise and lose weight, included two photos – a selfie and a shot of him exercising at a gym. 'Can't seem to hit my target of 70kg, but I'll settle for 72 to 73 because I feel really awesome now. The last time I was in this shape was when I was 21. If I can do it, guys and gals, so can you. Ready to take on the world,' he wrote. About a week earlier, Danker mused about her post-divorce dating life in a series of Instagram Stories on June 10, where she answered anonymous Ask Me Anything questions posed by some of her 77,700 followers. She revealed that she has been asked out by guys she labels as 'the brave young 20somethings'. Asked if she was ready to get attached, she replied: 'Let's just say it's gonna take someone really special for me to give up sleeping diagonal on my massive king-size bed – and it hasn't happened yet.' She also advised that women should not beat themselves up for having 'any kind of feelings' towards divorce, 'whether it's embarrassment or otherwise'. 'It's scariest just before you do it and even if you leap crying, and fly through the air screaming in fear, you're gonna land on solid ground, I promise you. Be brave.' Danker later told news outlet CNA that she feels 'a real sense of uplevelling at the moment'. 'I'm honestly grateful every day and am just looking to work hard professionally... taking good care of myself in all aspects and enjoying my friendships.' She added: 'It's a bonus (and a miracle) if I find someone who is aligned with me in many ways, so that's not a huge priority. I really don't want to go on dating apps, so whatever will be will be. Open to casual coffee dates.' – The Straits Times/Asia News Network
Rhyl Journal
4 hours ago
- Business
- Rhyl Journal
Mulberry in talks over £20m cash-call as losses widen
The Somerset-based firm said it was launching the cash-call after a 'post-2024-25 year-end review by the executive management, and in light of an even more challenging trading environment'. It added: 'The board has concluded that the company will require additional capital to fund its growth strategy and achieve its desired financial targets.' Shares in the firm plunged 11% in Friday afternoon trading. Mulberry said it was in discussions with majority shareholder Challice – a group controlled by Singaporean entrepreneur Christina Ong and husband Ong Beng Seng – and major stakeholder Mike Ashley's Frasers Group over the fundraising. It comes as Mulberry expects to slump to an underlying pre-tax loss of around £23 million for the year to March 29 against losses of £22.6 million the previous year. The group is set to report annual revenues tumbling 21% to around £120 million, adding that it does expect 'material overall revenue growth' in the new financial year. Andrea Baldo, chief executive of Mulberry, said the group had taken action to overhaul the business and cut costs as part of plans laid out in January, including shutting some stores. It already axed around 85 jobs in the run-up to Christmas – around a quarter of its workforce – largely impacting head office workers. Mr Baldo said: 'In the near term, we are firmly in turnaround mode, focused on rebuilding profitability and gross margin, while strategically investing in brand building initiatives.' He added: 'We've taken action to reduce costs – restructuring head office and exiting unprofitable stores, delivering a lower run-rate cost base into 2025-26. 'Following our year-end review, the board and I are confident that, with additional funding, we can accelerate momentum and deliver against our targets at pace.' The firm said shareholder Challice was willing to underwrite the fundraising in full, but Mulberry said it hoped Frasers would also take part. 'Whilst these discussions are ongoing, the board notes that it may not be possible for all parties to agree fully on the structure of the fundraising, in which case the board… will conclude on the most appropriate structure for the company,' Mulberry said. It expects to complete the fundraising in July, to coincide with the publication of its annual results. Mr Baldo, who joined the group in September last year from Ganni, is restructuring the business with a focus on the UK market, rather than China, under aims to turn around its fortunes. Founded in 1971 in Somerset, Mulberry is most famous for its luxury, leather handbags. But it has seen trading hit hard in recent years, partly as a result of waning appetite for luxury goods among Chinese consumers, previously a key market for the fashion company. Mr Baldo said, in January, the company will focus less on China and close 12 stores across its Asian estate while aiming to open more shops in UK cities in future.
Straits Times
4 hours ago
- Health
- Straits Times
Muscles, fats and simple blood test can predict menopausal women's health
Madam Sabarina Jumarudin, a participant of the Integrated Women's Health Programme (IWHP) at NUH and the NUS Yong Loo Lin School of Medicine, with IWHP lead Yong Eu Leong. PHOTO: NUHS SINGAPORE – A simple blood test can predict which woman will have less muscle and will be walking more slowly later in life. It is also practical and cheaper than current methods of measuring muscle, such as the current gold standard magnetic resonance imaging scans or strength tests, which are also more time-consuming. This new insight from a longitudinal cohort study of midlife women in Singapore shone light on how muscle strength, visceral fat and their association with the physical decline after menopause can potentially lead to downstream health impacts among women here. Researchers from the National University Hospital (NUH) and National University of Singapore (NUS) found that women with a lower creatinine-to-cystatin C ratio (CCR) – a marker derived from blood tests – had less muscle and walked more slowly as they age. Creatinine is a by-product of normal muscle function and energy use, and a higher level indicates higher skeletal muscle mass or poor kidney function. Cystatin C is a protein produced by the body's cells that is filtered out by the kidneys. A normal cystatin C level rules out poor kidney function. A low CCR of under 8.16 was associated with a lower muscle volume of 0.350 litres in the thigh, and a slower gait of 0.049 metres per second. This suggested that CCR could be a useful early warning sign for age-related muscle loss, which may lead to falls, frailty and reduced quality of life. The findings were published in Menopause, a monthly peer-reviewed journal, in March 2025. The scientists are from the Integrated Women's Health Programme (IWHP) at NUH and the NUS Yong Loo Lin School of Medicine. The IWHP was initiated to identify and address the health care needs of midlife Singaporean women. It recruited a cohort of 1,200 Chinese, Malay, and Indian women aged 45 to 69 years between 2014 and 2016 – about 70 per cent of whom were postmenopausal . Their health metrics were then tracked over time. In the first study based on this cohort, published in international journal Maturitas in October 2023, the researchers shared a ranking of menopausal symptoms – with joint and muscular discomfort found to be the most reported symptom among women in Singapore. Called arthralgia, it had moderate or severe impact on a third of the midlife women of the cohort. A subsequent study, published in Diabetes, Obesity & Metabolism in October 2024, found that women with both weak muscle strength and high levels of visceral fat – the deep belly fat around the internal organs – had the highest risk of developing prediabetes or type 2 diabetes. Their risk was 2.63 times higher than that of women who had normal muscle strength and lower fat levels. Having just one of these conditions also increased risk, though to a lesser degree. The risk from having high visceral fat alone is 1.78 times higher. Among those with weak muscle strength, women with high visceral fat had a 2.84 times higher risk compared to those with low visceral fat. Explaining the impetus for the study, IWHP lead Yong Eu Leong said: 'Muscle... burns up fat. What about those who have weak muscles? Does it affect the risk for diabetes in the future?' The cohort's initial muscle and visceral fat measurements served as a baseline for researchers to track changes over the years. Researchers then analysed how changes in fat and muscle measurements taken about six years later – by then, about 90 per cent of the women were postmenopausal – related to whether women had developed diabetes. Professor Yong, who also heads the division of benign gynaecology in the Department of Obstetrics and Gynaecology at NUH, noted that a large proportion of women in Singapore are 'skinny fat', where their body mass index is in the normal range, but they have high levels of visceral fat and low muscle mass. ' One way (to know what your risks are) is to measure your walk and the speed at which you walk. If you cannot walk fast and straight, then your health is not so good. We wanted to see if we can develop a test that can predict gait speed. We wanted to look at molecules that actually measure muscle functions,' he said. 'These findings validated our previous (IWHP) research that showed that women should not just focus on weight loss, but on building muscle strength through exercise for diabetes prevention,' Prof Yong said. One participant of the IWHP, administrative assistant Sabarina Jumarudin, is living proof of the findings. The 59-year-old grandmother used to weigh 93kg and suffered from sleep apnoea. Since she underwent the bariatric surgery at NUH in 2018, a procedure that modifies the digestive system to help people with obesity lose weight, she lost more than 30kg. Mindful of keeping her weight down, Madam Sabarina walks to the MRT station every day instead of taking the shuttle service, and takes the stairs instead of the escalator to catch the train. 'On my way home, I usually take a longer route to ensure I clock at least 10,000 steps a day, and practising stretching and breathing exercises to strengthen my core,' she said. 'I realised that small but consistent changes do make a big impact on my health, so I do what I can on a daily basis, and it gives me confidence to not only stay healthy physically and mentally but also stave off diabetes,' she added. Join ST's WhatsApp Channel and get the latest news and must-reads.
