Asiatic Group (SGX:5CR) signed a non-binding heads of agreement to acquire Malaysia-based car dealership, Karrus Mobility, from Karrus Automotive, according to a Friday filing with the Singapore Exchange.
The move is part of the company's business diversification strategy.
The acquisition depends on the company's due diligence, finalization of consideration and regulatory approvals from relevant authorities. The heads of agreement gives Asiatic a 45-day exclusivity period.
Samsung Electronics (KRX:005930) is currently in discussions with Alphabet's Google to manufacture a part of its next-generation artificial intelligence (AI) processor, Reuters reported Thursday, citing people familiar with the matter.Google plans to have Taiwan Semiconductor Manufacturing Company (TPE:2330) manufacture the primary compute chip for its next-generation tensor processing unit, called Icefish, while Samsung Electronics may manufacture a memory interface component using its 2-nanometer process technology, the report said.Icefish is being developed in collaboration with MediaTek at present, with mass production possibly commencing in 2028, it said.Google and Samsung did not immediately reply to requests for comment from.Shares of Samsung Electronics jumped nearly 12% in recent trade, while those of TSMC added over 2%.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Emmerson Resources (ASX:ERM) said the Supreme Court of Western Australia will hear an application by the company on June 19 to approve its proposed acquisition by Pan African Resources, according to a Friday filing with the Australian bourse.Shareholders of Emmerson will vote on the deal at a meeting scheduled for June 15.The company's shares gained 5% in recent Friday trade.
HKC (SHE:001399) priced its initial public offering of 729.8 million shares on the Shenzhen bourse at 10.12 yuan apiece to raise 7.39 billion yuan, according to a notice on the bourse.Proceeds will fund initiatives to accelerate new technology development and expand production capacity in next-generation display technologies as well as boost capital and repay loans.Offline subscription payment and online subscription are scheduled on Friday.The technology company specializes in semiconductor displays.