Latest Developments

Asia-Pacific
The Straits Times

Singapore Kitchen Equipment retains CEO after charges linked to CAD probe

Chua Chwee Choo and two others were charged for allegedly conspiring to make false representations to auditors. SINGAPORE – Singapore Kitchen Equipment’s (SKE) chief executive and a senior manager will remain in their roles despite having been charged in connection with a Commercial Affairs Department (CAD) investigation into alleged falsification of accounts and false representations made to auditors. In a June 4 filing on the Singapore Exchange (SGX), the Catalist-listed company said CEO and executive director Chua Chwee Choo and senior manager Koh Sai Eng were served with the charges under the Penal Code and the Securities and Futures Act (SFA) on June 2. Former chief financial officer Chow Mei Ling was also charged, according to a separate June 3 statement by the Singapore Police Force (SPF). Despite the charges, SKE said in its SGX statement that its nominating committee and board believe it is in the company’s best interests for both Chua and Koh to remain in their positions. It cited additional safeguards and measures which have been implemented as part of its enhancements to the company’s internal controls. “The board expects that the business of the group will continue normally, as the court proceedings are not expected to disrupt the operations of the group,” the statement said. The trio were charged for allegedly engaging in a conspiracy between February and March 2021 to make false representations to SKE’s auditor, BDO, in relation to bonuses paid by SKE’s subsidiary, Q’son Kitchen Equipment (QKE). To lend credence to these false representations, the trio allegedly conspired to falsify more than 100 payment vouchers belonging to QKE to purport that the bonuses were paid in January 2020, when this was not the case, SPF said. Chow also faces other charges for alleged offences in related transactions. These include charges which alleged that between 2018 and 2019, Chow willfully omitted a total of eight payments, which included the payment of the bonuses, from QKE’s accounts for the financial years (FY) 2018 and 2019. Subsequently, Chow allegedly made further false entries to include the eight payments in QKE’s accounts for FY2020. Following Chow’s alleged falsification of QKE’s accounts, SKE purportedly made false statements relating to the company’s profitability in announcements of its financial statements for FY2018 to FY2020. These false statements are the subject matter of offences under the SFA – committed with Chow’s consent, and Chow was thus charged with offences under the SFA.

Singapore Kitchen Equipment retains CEO after charges linked to CAD probe
Europe
The Guardian

60 Minutes correspondent Scott Pelley accuses Bari Weiss of ‘murdering’ show

‘She’s murdering 60 Minutes,’ Scott Pelley said, according to sources with knowledge of the situation. Photograph: Michele Crowed/CBS via Getty ImagesView image in fullscreen‘She’s murdering 60 Minutes,’ Scott Pelley said, according to sources with knowledge of the situation. Photograph: Michele Crowed/CBS via Getty ImagesCBS60 Minutes correspondent Scott Pelley accuses Bari Weiss of ‘murdering’ showPelley reportedly rebuked CBS ousting show’s executive producer, executive editor and two top correspondents Scott Pelley, a veteran 60 Minutes correspondent, called out CBS News management in a heated meeting on Monday morning, attacking the network’s decision on Thursday to fire the show’s executive producer, executive editor, and two fellow correspondents, Sharyn Alfonsi and Cecilia Vega, as part of a broader overhaul of the show, sources tell the Guardian. During a meeting of the show’s staff and Nick Bilton, its newly appointed executive producer, along with the CBS News managing editor Charles Forelle, Pelley took direct aim at Bari Weiss, the network’s controversial editor-in-chief. “She’s murdering 60 Minutes,” Pelley said, according to sources with knowledge of the situation. “She does not love this place. She was brought in to kill it and is doing exactly that.” Forelle accused Pelley of being rude, and Pelley countered by saying that the network had been rude by the way it treated Tanya Simon, the show’s executive producer who was fired on Thursday. 60 Minutes staff who were present for the meeting showed strong support for Pelley, giving him a standing ovation, sources said. A CBS News spokesperson declined comment on the meeting. A source with knowledge of the situation said that overtures have been made to Pelley, who is seen as an important part of the show. (Pelley has also been contacted for comment.) Still, the exchange on Monday raises questions about Pelley’s long-term future at the show. Last Wednesday, hours after Alfonsi announced that the network had opted not to renew her contract for the show’s 59th season, Pelley gave her a shoutout at the News & Documentary Emmy awards. “There have been many great 60 Minutes correspondents over the years. I see Sharyn Alfonsi in the audience,” he said. Pelley was also effusive in praising Santiago Campos, an 18-year-old high school senior who called out the network’s direction under Weiss, saying that it “stains the legacy of Mike Wallace”, the namesake of the award that Campos received. “I know that Mike Wallace is looking down on you with pride at this very moment,” Pelley said. On Wednesday, Alfonsi – who had reported a December 2025 segment about a notorious prison in El Salvador that got shelved by Weiss – released a blistering statement, saying: “The wall between editorial independence and corporate interest at CBS is being methodically torn down.” She added: “Journalists willing to challenge authority are being pushed aside in favor of those who will not. If this continues, the result will be a broadcast that looks like 60 Minutes but lacks the courage and character to produce journalism that matters.”

60 Minutes correspondent Scott Pelley accuses Bari Weiss of ‘murdering’ show
China / Asia
South China Morning Post

Booking system considered to protect popular Hong Kong hiking trail from crowds

Wynna WongPublished: 8:00am, 4 Jun 2026Authorities are considering a pilot booking system for one of Hong Kong’s most popular hiking routes and creating a new marine park at Sharp Island in Sai Kung, following bigger-than-expected crowds during mainland Chinese holidays. “Therefore, to more effectively control visitor numbers and flows, the government is studying and considering the introduction of a reservation system,” the paper said. “The aim would be to protect the trail from excessive wear and tear and to improve the visitor experience by dispersing visitors across different times of the day.” The department said Po Pin Chau – a scenic headland featuring massive hexagonal volcanic columns east of High Island Reservoir – would serve as a pilot site for a reservation system in ecological locations, with data collected to assess its effectiveness.

Booking system considered to protect popular Hong Kong hiking trail from crowds
China / Asia
South China Morning Post

Singapore’s Pritam Singh is facing cracks in his party. What does this say about the opposition?

Jean IauPublished: 8:00am, 4 Jun 2026Updated: 8:09am, 4 Jun 2026Just over a year after consolidating its status as Singapore’s main opposition, the Workers’ Party (WP) is grappling with internal fissures as chief Pritam Singh’s role is being questioned by his own members.Singh, who has led the WP since 2018, is facing a special conference later this month called by 25 cadre members pushing for him to step down as secretary general for breaching the party constitution, according to local media. Sources say there is a generational divide in the party, with the old guard in recent years growing sceptical of Singh’s leadership. This faction – who tended to be Chinese-educated with some Malays – comprised about a quarter of the cadre members, as opposed to newer cadres who were typically young professionals. Observers warn that while infighting is common in maturing political parties, the conflict could undo the progress the WP has made in recent elections. “Such divides in parties are normal. Even the WP has had this before with the contest between Low Thia Khiang and Chen Show Mao. However, for Pritam, what he needs is a clear vote in his favour,” said Walid Jumblatt Abdullah, an associate professor of public policy at Nanyang Technological University, referring to the party’s 2016 leadership vote which saw Low edge out fellow MP Chen.

Singapore’s Pritam Singh is facing cracks in his party. What does this say about the opposition?
Asia-Pacific
Channel NewsAsia

Thailand ready for UN mediation on maritime dispute with Cambodia

BANGKOK: Thailand is "fully prepared" to engage in UN-backed mediation initiated by Cambodia over disputed maritime claims, the foreign minister said on Wednesday (Jun 3), while pledging to safeguard national interests. Neighbouring Cambodia said on Tuesday it had started the dispute resolution process under the United Nations Convention on the Law of the Sea (UNCLOS) over disputed areas in the Gulf of Thailand, where undersea energy reserves are valued at around US$300 billion. The move followed Bangkok's cancellation last month of a 2001 agreement that established a framework for joint oil and gas exploration in areas of overlapping claims, with Thailand's prime minister citing a long-standing stalemate in implementing it. Thailand's Foreign Minister Sihasak Phuangketkeow said in a statement on Wednesday that Cambodia's "rushed decision" to begin compulsory conciliation proceedings under UNCLOS could hinder efforts to "rebuild trust and confidence towards restoring bilateral relations". CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less The Southeast Asian neighbours have disputed maritime territories and the demarcation of their 800km land border for decades, a legacy of the French colonial era. After two rounds of deadly border clashes last year, the two sides agreed to a ceasefire in December but have repeatedly accused each other of truce violations. "Thailand is fully prepared to undertake all necessary actions in accordance with UNCLOS, placing the utmost importance on safeguarding the country's interests," Sihasak said in the statement. The conciliation process results in non-legally-binding recommendations for the parties to use to negotiate a resolution, according to the Thai statement. Thailand's energy ministry has estimated future revenues from oil and natural gas in the area to be worth around US$300 billion. Cambodian Prime Minister Hun Manet said on Tuesday that his government had begun the mediation process to "protect Cambodia's sovereignty and maritime rights in accordance with international law".

Thailand ready for UN mediation on maritime dispute with Cambodia
Asia-Pacific
Channel NewsAsia

North Korea's Kim vows 'exponential' boost in nuclear forces

Of the planned increase, North Korean leader Kim Jong Un said: "This signifies an amazing, successful change that is beyond rhetorical description, a historic event that has set up an epochal milestone in rapidly upgrading our nuclear capabilities." This picture taken on Mar 23, 2026 and released by North Korea's official Korean Central News Agency (KCNA) on Mar 24, 2026, shows North Korean leader Kim Jong Un delivering a policy speech at the First Session of the 15th Supreme People's Assembly at the Assembly Hall in Pyongyang. (File photo: AFP/KCNA) SEOUL: North Korea's production of weapons-grade nuclear material has more than doubled in the past five years, leader Kim Jong Un said on Wednesday (Jun 3), vowing an "exponential" increase in military nuclear capabilities. During a visit to a new nuclear material production facility, Kim said North Korea has confirmed an "ambitious future plan designed to beef up our state's nuclear forces at an exponential rate", the state-run Korean Central News Agency reported on Thursday. North Korea sees its nuclear arsenal as protection against attack from South Korea and US forces stationed there. Of the planned increase, Kim said: "This signifies an amazing, successful change that is beyond rhetorical description, a historic event that has set up an epochal milestone in rapidly upgrading our nuclear capabilities." Rejecting pressure from the United States, North Korea insists it will not give up its nuclear arsenal, describing its path as "irreversible". Pyongyang withdrew from the Non-Proliferation Treaty in 1993 and has since conducted six nuclear tests, subjecting it to multiple United Nations resolutions, and is believed to possess dozens of nuclear warheads. Our chief editor shares analysis and picks of the week's biggest news every Saturday.

North Korea's Kim vows 'exponential' boost in nuclear forces
Europe
The Guardian

Media mogul Barry Diller’s People offers to buy MGM Resorts for over $18bn

Aerial view of the south Las Vegas Strip, including the MGM Grand, Excalibur and New York-New York casinos, in 2022. Photograph: Michael Quine/Las Vegas Review-Journal via Getty ImagesView image in fullscreenAerial view of the south Las Vegas Strip, including the MGM Grand, Excalibur and New York-New York casinos, in 2022. Photograph: Michael Quine/Las Vegas Review-Journal via Getty ImagesBusinessMedia mogul Barry Diller’s People offers to buy MGM Resorts for over $18bnFocus on casino operator is sharp departure from media for Diller as markets remain volatile Media mogul Barry Diller’s People Inc said on Monday it had proposed to buy MGM Resorts, valuing the casino operator at more than $18bn. The offer comes just weeks after Diller, the digital media company’s chair, told shareholders in a 28 April letter that People would sharpen its focus on its MGM stake, calling the stock “wildly undervalued”. People currently owns 26.1% of the outstanding common stock of MGM. It is planning to bid $48.30 a share in cash for the remaining company, representing a premium of about 10.6% to MGM’s Friday close of $43.67. MGM’s shares rose more than 10% in premarket trading, while those of People – renamed from IAC in April – rose nearly 3%. Diller’s interest in MGM dates back to the Covid-19 pandemic, when he began accumulating shares in the casino operator when its shares were battered by closures and travel restrictions. MGM owns marquee properties that account for roughly 40% of the Las Vegas Strip. However, the casino operator has been struggling with sluggish footfalls in Las Vegas, and in recent quarters has relied on growth in its China properties, including Macau, and digital operations. The company’s BetMGM venture has also emerged as one of the leading US online sportsbooks, giving higher exposure to a digital gambling market that analysts have been bullish on. For Diller, MGM is a sharp departure from digital media, giving his group access to an industry focused on travel and tourism at a time when markets remain volatile. The offer also marks another major takeover attempt in the casino sector. Last week, the hospitality billionaire Tilman Fertitta’s firm announced the takeover of Caesars Entertainment in a $17.6bn deal.

Media mogul Barry Diller’s People offers to buy MGM Resorts for over $18bn
Asia
The Economic Times

Swiggy among 9 largecap stocks with up to 45% upside potential. Do you own any?

Analyst forecasts offer more than just numbers; they provide a forward-looking view of market potential. For investors seeking the next opportunity, a closer examination of BSE large-cap stocks reveals several promising names. Based on consensus estimates compiled by Trendlyne, a number of large-cap stocks are expected to deliver strong returns over the next 12 months. This projected “upside” reflects the average expected gain over the coming year and serves as a data-driven indicator for investors. In this analysis, we highlight nine large-cap stocks that analysts expect could deliver gains of 35% to 45% over the year ahead. The stock is currently trading at Rs 251 and has an analyst consensus target price of Rs 374, implying a potential upside of 49%. Among the 27 analysts covering the stock, the consensus recommendation is Buy. The stock is currently trading at Rs 483 and has an analyst consensus target price of Rs 688, implying a potential upside of 42%. Among the 33 analysts covering the stock, the consensus recommendation is Buy. The stock is currently trading at Rs 578 and has an analyst consensus target price of Rs 822, implying a potential upside of 42%. Among the 22 analysts covering the stock, the consensus recommendation is Strong Buy. The stock is currently trading at Rs 747 and has an analyst consensus target price of Rs 1,040, implying a potential upside of 39%. Among the 39 analysts covering the stock, the consensus recommendation is Strong Buy. The stock is currently trading at Rs 3,041 and has an analyst consensus target price of Rs 4,143, implying a potential upside of 36%. Among the 34 analysts covering the stock, the consensus recommendation is Strong Buy. The stock is currently trading at Rs 575 and has an analyst consensus target price of Rs 780, implying a potential upside of 36%. Among the 34 analysts covering the stock, the consensus recommendation is Strong Buy. The stock is currently trading at Rs 257 and has an analyst consensus target price of Rs 347, implying a potential upside of 35%. Among the 32 analysts covering the stock, the consensus recommendation is Buy. The stock is currently trading at Rs 894 and has an analyst consensus target price of Rs 1,200, implying a potential upside of 34%. Among the 18 analysts covering the stock, the consensus recommendation is Buy. The stock is currently trading at Rs 2,199 and has an analyst consensus target price of Rs 2,939, implying a potential upside of 34%. Among the 43 analysts covering the stock, the consensus recommendation is Buy.

Swiggy among 9 largecap stocks with up to 45% upside potential. Do you own any?
Asia
The Economic Times

NFO Watch: 2 mutual funds will open for subscription this week. Check dates and key details

Two new mutual funds will open for subscription this week. Fund houses launch new funds to complete their bouquet of offerings. Here is a detailed breakup (Source: ACE MF) Among these two funds - one will be an active fund and one will be a passive fund. On a broader basis, one fund will be an aggressive hybrid fund and the other will be an ETF. WOC Aggressive Hybrid Fund will open for subscription on June 8 and will close on June 22. The minimum investment amount will be Rs 500. ICICI Prudential Nifty Smallcap 250 ETF will open for subscription on June 9 and will close on June 16. The minimum investment amount will be Rs 1,000. Are you willing to invest then choose a fund based on your risk appetite, financial goals, and investment horizon. Just do not go by where others are investing.

NFO Watch: 2 mutual funds will open for subscription this week. Check dates and key details