Oil prices rose on Sunday with U.S. crude topping $114 per barrel, after President Donald Trump gave Iran until Tuesday to open the Strait of Hormuz or face attacks on its power plants.
U.S. crude oil jumped 2.35% to $114.16 per barrel by 6:08 p.m. ET. International benchmark Brent prices advanced 1.72% to $110.91 per barrel.
AEM Holdings experienced rapid growth as a major supplier to Intel, with revenue rising from $223 million in 2017 to a peak of $870 million, before declining as Intel lost competitiveness to rivals such as TSMC. The downturn was driven by heavy reliance on Intel, resulting in slower growth, reduced visibility, and lower investor confidence when Intel faced operational challenges. By 2025, signs of recovery emerged as revenue rebounded, supported by AI and high-performance computing demand, returning the company to positive free cash flow, a strong net cash position, and reinstated dividends. For 2026, revenue is guided between $460 million and $510 million. Strategically, AEM partnered with ASE to expand its global customer base, collaborated with Intel Foundry to access new clients and markets, and reduced dependence on a single key customer. In the AI space, AEM is aligning with AI-driven chip complexity, where advanced testing solutions are increasingly vital. Challenges remain, including margins below historic peaks and execution risks. Overall, AEM is transitioning from an Intel-dependent cyclical business to a broader AI-focused growth platform but must prove its ability to sustain long-term growth and restore profitability.
Amova Asset Management has become a significant shareholder in Frencken Group following additional open market purchases last week. On March 30, Amova acquired 2,478,200 Frencken shares just under $2.12 per share. Consequently, Sumitomo Mitsui Trust Group, which controls Amova and other related entities, saw its effective holding in Frencken rise to 5.27%. Frencken Group, a key supplier to Dutch semiconductor equipment maker ASML, has recently received multiple analyst upgrades in anticipation of a stronger second half of 2026.
Amova has also increased its position in Valuetronics Holdings. On March 25, it purchased 811,100 shares for $719,364.59, or approximately 88.7 cents per share, boosting its holding from 19.9 million shares (4.85%) to over 20.7 million shares (5.05%).
Thakral Corporation is transforming its 21-acre site in Gurugram, India, by shifting from a passive land-banking approach to active development centered on healthcare. The project will be developed in phases, beginning with a hospital as the main anchor, followed by a wellness centre, and eventually incorporating residential and commercial components, with total development potential exceeding 2.5 million sq ft. To reinforce its commitment, Thakral plans to increase its stake in the land-owning entity from 13.64% to 95.28% for $93.9 million, reflecting strong confidence in the project. Strategically, the company aims to position the site as a healthcare and wellness hub rather than directly competing in the residential market, using the hospital as a key destination driver to boost demand and enhance land value while generating recurring income through partnerships and leasing. Given Gurugram’s rapid urban growth and infrastructure expansion, the development is designed as a long-term, phased investment, which Thakral views as a major future growth engine with significant value creation potential
Geo Energy Resources plans to raise up to $18.375 million by issuing up to 35 million new shares at 52.5 cents each.
The price is at a small discount. Funds will be used for working capital. Share count will rise ~2% to over 1.77 billion.
CSE Global says no further discussions thus far on strategic review. Heliconia Capital: Holds a 23.44% stake in CSE Global and is an indirect unit of Temasek.
The Trendlines Group, a Singapore-listed startup incubator, returned to profitability in FY2025 with a net profit of US$1.9 million, reversing a US$9.4 million loss the previous year. The company has shifted focus from broad venture-building to scaling its most promising portfolio companies, reducing operating costs by over 50%, and halting new investments while exiting non-core businesses. Strong fundraising and favorable portfolio valuations contributed to the turnaround. Trendlines’ 41 portfolio companies, including notable medtech and foodtech startups, saw record external investment, supporting future strategic exits and long-term value. The group also addressed governance issues, notably a US$2.1 million misappropriation incident, implementing all recommended controls and maintaining transparent shareholder communication. CEO Haim Brosh emphasized that while not all portfolio companies will succeed, top performers are expected to generate significant returns for shareholders
Hong Kong stocks closed lower, with the Hang Seng Index (HSI) down 177 points (-0.7%) to 25,116, the HSCEI down 47 points (-0.6%) to 8,456, and the HSTECH down 77 points (-1.6%) to 4,679, on a total turnover of HK$243.6 billion.
Automakers: CHERY AUTO surged 15.3% on strong YoY sales; GWMOTOR and GEELY AUTO rose 7.3% and 6.4% respectively. BYD fell 0.8%, Xiaomi-W dropped 3.6%
Autonomous driving & NEVs: SERES declined 3.6% despite 21% YoY sales growth; PONY-W and HORIZONROBOT-W fell 7.6% and 4.1%, HESAI-W rose 3.7%
Tech: Tencent down 1.5%, Alibaba-W down 3.4%, Kuaishou-W, Bilibili-W, Meituan-W all fell 2–3%; JD-SW, Baidu-SW, NTES-S down 0.7–0.9%; XD INC dropped 5.3%
Electronics/Components: SUNNY OPTICAL gained 5.2%; LENS and FIT HON TENG tumbled 9.4% and 9.5%
The session reflected broad selling pressure in tech and electronics, while some auto and component stocks gained on strong sales or positive performance indicators.
Oiltek secures US$350 mil contract to build sustainable aviation fuel plant in Sabah
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