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Eyes off the road | Borneo Bulletin Online


Reed Stevenson & Mark Gurman
BLOOMBERG – At first glance, the forays Apple, Google and other technology giants are making into the world of cars don’t appear to be particularly lucrative.
Building automobiles requires factories, equipment and an army of people to design and assemble large hunks of steel, plastic and glass. That all but guarantees slimmer profits. The world’s top 10 carmakers had an operating margin of just 5.2 per cent in 2020, a fraction of the 34 per cent enjoyed by the tech industry’s leaders, data compiled by
Bloomberg show.
But for Apple and other behemoths that are diving into self-driving tech or have grand plans for their own cars, that push isn’t just about breaking into a new market – it’s about defending valuable turf. ....

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Xiaomi Corp. to Raise US$1.2 Billion via Debt Sales


By P.R. Venkat
Xiaomi Corp. plans to raise US$1.2 billion via debt issuance, proceeds of which the Chinese technology company will use to fund working capital and finance eligible green projects.
The company will issue senior bonds to raise US$800 million carrying a coupon of 2.875% maturing in 2031, Xiaomi said Thursday.
It will also raise another US$400 million in senior green bonds that will mature in 2051 carrying a coupon of 4.10%.
The group may reallocate the use of the net proceeds of the bonds issue in response to unforeseen events or changing business conditions, Xiaomi said.
Bonds will be issued to professional investors only, it said. ....

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