Aurizon Holdings (ASX:AZJ) said Australian Retirement Trust ceased to be a substantial holder of the firm on May 22, according to a Tuesday Australian bourse filing.
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Urbanise.com Appoints Darc Rasmussen as Executive Chairman, Signs Two New Strata Contracts
Urbanise.com (ASX:UBN) has appointed Darc Rasmussen as executive chairman to "temporarily" expand its executive capability and assist in scaling the organization, according to a Tuesday Australian bourse filing.Rasmussen has agreed to a restructured fee arrangement comprising a reduced base component and a success-based element payable in cash and/or equity, subject to shareholder approval, the filing added.The company said it is executing a search for a chief product officer, in addition to the recent appointment of Adam Vidal as chief commercial officer.Two contracts have been executed this month, converting customers from a major legacy provider to Urbanise's cloud-based platform, with a combined total contract value of about AU$700,000 over three years and further upside if the customers later adopt banking and payments integration, the filing added.The company said it expects continued net operating cash outflows for the remainder of the year as part of the build of the new banking and payments integration, with overall operating cash flow expected to be negative in fiscal year 2026 and a return to positive operating cash flow targeted in fiscal year 2027.
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Asia
Mitsubishi Electric, Chiba Tech Team Up to Develop Physical AI
Mitsubishi Electric (TYO:6503) and Chiba Institute of Technology, signed a three-year agreement to collaborate on the development of native physical AI technologies, according to a company release on Tuesday.Under the agreement, the two parties will work together to commercialize AI robotics solutions for both public and private sector applications, the release added.The development pipeline will focus on deploying autonomously controlled machines, including multi-legged walking units, humanoid robots, and drone systems.
$TYO:6503
Asia
Centurion Accommodation REIT Secures Approvals for Workers' Dormitory Expansion
Centurion Accommodation REIT (SGX:8C8U) secured all required approvals, including the Foreign Employees Dormitories Act (FEDA) license to increase the bed capacity of its workers' dormitory in Westlite Mandai, according to a Monday Singapore bourse filing.Shares of the REIT were down nearly 1% in Tuesday trading.With the approvals, the REIT will grant an expansion consideration of SG$34 million to Lian Beng-Centurion (Mandai).In January, the REIT had secured a temporary occupation permit for the construction of an additional block in Westlite Mandai for 9,986 beds.The FEDA license is valid until Sept. 24, 2028, and the REIT will make a new license application closer to the expiration date.
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