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Boeing Co has restarted deliveries of its commercial aircraft to China for the first time since early April, marking a significant development in the ongoing trade tensions between the United States and the world’s second-largest economy. Flight tracking data from Flightradar24 revealed that a Boeing 737 Max, registered as N230BE, departed from King County International Airport-Boeing Field in Seattle at approximately 10am local time on Friday. The aircraft’s first stop is Kailua-Kona, Hawaii, en route to Zhoushan, China, where Boeing completes final delivery processes for jets bound for domestic Chinese customers. This milestone follows a temporary easing of tariffs between the two countries. On 12 May, Chinese authorities lifted a previous ban on airlines accepting Boeing aircraft after a temporary trade truce with the United States. Under the agreement reached in Geneva, China reduced tariffs on US goods from 125 percent to 10 percent, while the United States agreed to cut combined duties on Chinese imports from 145 percent to 30 percent. However, the truce is valid for only 90 days, leaving the future of aerospace trade vulnerable to renewed escalation. The resumption of Boeing deliveries to one of the world’s largest aviation markets comes amid renewed geopolitical friction surrounding critical technologies and minerals. In recent weeks, both Washington and Beijing have imposed restrictions involving semiconductors and rare-earth elements. Additionally, the White House has advanced efforts to limit the transfer of US aerospace technologies to China’s state-backed aircraft manufacturer, Commercial Aircraft Corporation of China Ltd (Comac), which is developing the C919 jetliner as a challenger to Boeing and Airbus. Boeing has not commented on the resumed shipments. However, the move signals the possible unfreezing of its Chinese inventory, as Chinese carriers including Air China, Hainan Airlines, and Xiamen Airlines have resumed taking deliveries, according to data from Aviation.flights, a platform that monitors aircraft handovers. The developments also coincide with reports that China may soon place a major order for aircraft from Boeing’s European competitor, Airbus SE. Bloomberg recently reported that an order for several hundred Airbus jets could materialise as early as next month, heightening the strategic stakes for Boeing in the Asia-Pacific region. The temporary détente may provide Boeing with a narrow window to alleviate financial pressure by delivering dozens of jets previously sidelined due to trade policy. Prior to the April dispute, Boeing had planned to deliver approximately 50 aircraft to China. These plans were disrupted when China responded to fresh US tariffs by increasing levies that rendered the aircraft unaffordable for Chinese carriers. China’s dependence on diversified aircraft sources, including US-made engines and avionics for Comac’s C919, highlights the mutual reliance underpinning the aviation sector. Despite ongoing tensions, both countries have historically benefited from aerospace trade, with the United States recording consistent surpluses in the sector. Industry analysts have warned, however, that further disruption may hinder Boeing’s delivery schedule. Kristine Liwag of Morgan Stanley noted in a 16 May client briefing that while Boeing could potentially redirect aircraft to other buyers if tensions escalate, doing so might jeopardise its short-term delivery targets. As commercial air travel demand continues to outpace supply, Boeing’s ability to navigate geopolitical headwinds while maintaining production and delivery timelines remains a critical factor for its global market position. -Bloomberg

Temasek Holdings has announced the appointment of Mr Teo Chee Hean as its fifth chairman, succeeding Mr Lim Boon Heng. Mr Teo, who retired from politics in April and did not stand in the recent General Election, will join Temasek’s board as deputy chairman on 1 July. He will formally assume the role of chairman on 9 October following the conclusion of the company’s third-quarter board meeting. A seasoned public servant with more than five decades of service, Mr Teo, 70, previously served as Singapore’s Chief of Navy before entering politics in 1992. His political career began with a by-election victory in Marine Parade GRC and continued through multiple successful terms in Pasir Ris-Punggol GRC. Over the years, he held senior ministerial roles, including Deputy Prime Minister from 2009 to 2019 and Senior Minister thereafter. He also served as Coordinating Minister for National Security and led key national initiatives involving digital transformation and climate policy. Temasek cited Mr Teo’s deep expertise in geopolitics and complex policy matters, noting his strategic acumen in managing cross-agency challenges. The firm expressed confidence that Mr Teo’s leadership would be instrumental in navigating an increasingly volatile global environment while sustaining its growth as a global investment house. Prime Minister and Finance Minister Lawrence Wong paid tribute to Mr Lim’s contributions and welcomed Mr Teo’s appointment. Mr Wong commended Mr Lim for enhancing Temasek’s global reach, reinforcing governance standards, and positioning the company as a sustainability leader. He expressed confidence in Mr Teo’s ability to build on these foundations. Mr Lim Boon Heng, 77, has chaired Temasek since 2013, following a distinguished public service career including roles as Minister in the Prime Minister’s Office and Secretary-General of the National Trades Union Congress. He joined Temasek’s board in 2012 and has played a pivotal role in shaping its global trajectory. Under his leadership, the firm’s net portfolio value grew from S$223 billion (US$174 billion) in March 2014 to S$389 billion in the most recent financial year. During his tenure, Temasek expanded significantly across developed markets in Europe and the United States, which now account for nearly half of its 13 international offices. Mr Lim also led the firm through a critical leadership transition in 2021, with Mr Dilhan Pillay assuming the role of CEO from Mdm Ho Ching. He placed strong emphasis on talent development and international representation, aligning with the company’s broader strategy. Temasek credited Mr Lim for strengthening corporate governance and promoting sustainability through initiatives such as the Temasek Roundtable and the Ecosperity conference series. He also spearheaded Temasek’s social initiatives during the COVID-19 pandemic and played a vital role in shaping its T2030 strategy, a decade-long roadmap focused on resilience and long-term value creation. Reflecting on his 13-year journey at Temasek, Mr Lim expressed gratitude for the opportunity to work with a dedicated team committed to excellence. He expressed his confidence in Mr Teo’s leadership, noting his profound understanding of both domestic and international issues. In response, Mr Teo acknowledged Mr Lim’s stewardship and emphasised the need for clarity and foresight in an era marked by global uncertainty. He reaffirmed Temasek’s commitment to addressing both present and future challenges while sustaining its mission to generate long-term value for Singapore and beyond. Mr Pillay praised Mr Lim’s leadership, describing him as a model of stewardship and a unifying force across Temasek’s ecosystem. He credited Mr Lim for fostering a culture of trust through initiatives like the Temasek Tripartite Conversations and welcomed Mr Teo’s appointment as a strategic step forward for the firm. In addition to the chairmanship transition, Temasek announced the upcoming retirements of three long-serving board members. Deputy Chairman Cheng Wai Keung and Director Stephen Lee will step down on 30 June, while Director Bobby Chin will retire on 31 July. Their combined expertise in governance, investment strategy, and industry developments has significantly shaped the company’s decision-making and global positioning. Temasek, which celebrated its 50th anniversary last year, has evolved from managing a S$354 million portfolio of Singapore-based companies to becoming a globally recognised investment firm with a multibillion-dollar footprint. -CNA

Moody’s Investors Service has downgraded Nissan Motor Co Ltd’s corporate family rating from Ba1 to Ba2, citing ongoing weakness in the company’s financial profile as it attempts to implement a wide-ranging turnaround plan. The global ratings agency has maintained a negative outlook for the Japanese automaker. According to Dean Enjo, Vice-President and Senior Analyst at Moody’s, the downgrade reflects continued deterioration in Nissan’s credit metrics, particularly in relation to its automotive free cash flow and EBIT margin. These key indicators are expected to remain under pressure, raising concerns about the company’s financial resilience. Nissan, Japan’s third-largest car manufacturer, recently announced a significant restructuring initiative aimed at restoring profitability. As part of the plan, the company will reduce its global workforce by approximately 15 percent and scale back the number of its production plants worldwide from 17 to 10. These measures come amid persistent challenges in core markets that have adversely impacted performance. -Reuters

AESC, a Japanese battery manufacturer, has announced a temporary halt to construction of its $1.6 billion electric vehicle (EV) battery plant in Florence, South Carolina, citing ongoing policy and market uncertainty in the United States. The company, which is a key supplier for BMW’s EV production, did not elaborate on the specific challenges it is facing. However, South Carolina Governor Henry McMaster pointed to concerns over the potential loss of federal tax incentives for EV buyers, the broader impact of shifting EV-related subsidies, and tariff uncertainties under the trade policies proposed by former President Donald Trump. “What we’re doing is urging caution — let things play out because all of these changes are taking place,” Governor McMaster stated. AESC confirmed the decision in a corporate statement issued on Thursday, noting that while construction will pause, the company remains committed to its long-term investment in the state. “Due to policy and market uncertainty, we are pausing construction at our South Carolina facility at this time,” the statement read. The company has already invested $1 billion in the project and reaffirmed its commitment to invest a total of $1.6 billion and to create 1,600 jobs. AESC did not specify a timeline for when construction would resume. In addition to its operations in Japan, AESC maintains battery production facilities in China, the United Kingdom, France, Spain, and Germany. In the United States, it currently operates a plant in Tennessee and is developing another in Kentucky. The company did not report any disruptions at these other locations. The South Carolina plant is designed to supply battery cells to BMW, which is building a battery assembly facility near its automotive manufacturing hub in Greer. BMW confirmed that its plans to open the plant in 2026 remain unchanged despite the construction delay by AESC. This is not the first adjustment to AESC’s plans in the region. The company had initially announced a second facility on the Florence site, but later revised its projections, stating that a single plant would suffice to meet BMW’s demand. As a result, South Carolina officials rescinded $111 million in state assistance tied to the now-cancelled second plant. Nevertheless, AESC is still receiving significant support from the state, including $135 million in grants from the South Carolina Department of Commerce and $121 million in bonds. The department confirmed that the temporary pause in construction would not affect the current incentive agreements. South Carolina has aggressively pursued EV investment in recent years. Volkswagen-owned Scout Motors is planning a $4 billion facility in the state, which is expected to generate 10,000 jobs and begin production of new electric SUVs by 2027. The state’s economic strategy has long relied on attracting foreign manufacturers such as BMW, Michelin, and Samsung, which have collectively contributed to a significant economic upswing over the past two decades. However, renewed concerns around the potential imposition of high tariffs by the Trump administration are creating a sense of unease regarding the future stability of these partnerships. Governor McMaster sought to allay concerns, noting ongoing discussions between state leaders and federal officials. “I think the goal of the president and the administration is to have robust economic growth and prosperity, and there is no doubt there has to be changes made in our international trade posture, and President Trump is addressing that,” he told reporters. -Japan Today

Link Real Estate Investment Trust is reportedly exploring a potential listing of a new real estate investment trust in Singapore, comprising selected assets located outside of mainland China and Hong Kong. Sources familiar with the matter, who requested anonymity due to the private nature of the discussions, indicated that the Hong Kong-based REIT has engaged in preliminary consultations with advisers regarding the proposed initial public offering. The deliberations remain at an early stage, and there is no certainty that the company will proceed with the listing. Link Asset Management, which manages Link REIT, declined to provide comment on the matter. This move aligns with Link REIT’s broader strategic pivot towards diversification beyond its traditional property management portfolio. In recent months, the firm has announced plans to expand into fund management, partnering with capital investors. As part of this initiative, the company appointed John Saunders, formerly Head of Asia-Pacific Real Estate at BlackRock Inc, to lead its newly launched platform, Link Real Estate Partners. Link REIT has experienced a 27% surge in its share price on the Hong Kong exchange this year, resulting in a market capitalisation of approximately US$13.7 billion (RM57.9 billion). Should the listing proceed, it would mark a notable addition to Singapore’s capital markets, which have been facing challenges in attracting IPOs. As of early June 2025, only five companies have gone public in Singapore, raising a total of just US$39 million, according to data compiled by Bloomberg. Nonetheless, there are indications of renewed activity. Japan’s Nippon Telegraph & Telephone Corp is said to be preparing a REIT listing in Singapore later this year, while US-based AvePoint Inc filed for a secondary listing in the city-state in January. -Bloomberg