Australia and Singapore on May 30 held talks on regional security dynamics and explored ways to strengthen defense collaboration between the two nations.
Singapore's Ministry of Defence said potential areas of cooperation include critical underwater infrastructure and enhanced reciprocal access to defense facilities.
The meeting held at the 23rd Shangri-La Dialogue in the city-state also reaffirmed the two countries' "longstanding and multifaceted relations."
Greatland Resources (ASX:GGP) said it has executed a AU$500 million corporate debt facility with a lending syndicate, and has made a final investment decision (FID) to develop the Havieron gold-copper project in Western Australia, according to a Monday Australian bourse filing.The lending group consists of ANZ Group (ASX:ANZ, NZE:ANZ), ING, HSBC, National Australia Bank (ASX:NAB), and Westpac (ASX:WBC, NZE:WBC).The company said the facility comprises a AU$250 million revolving credit facility with a five-year term, a AU$225 million revolving credit facility with a seven-year term, and a AU$25 million contingent instrument facility (CIF) drawn to AU$17.9 million as of May 31.Financial close on facility A and the CIF has been achieved, with financial close on facility B targeted for the end of June following the publication of Greatland's updated ore reserve estimate for Telfer, the filing added.With over AU$1.7 billion in available liquidity subject to facility B closing, Greatland said it is fully funded to develop Havieron.The company's shares were up over 3% in recent Monday trade.
IT services management company Shift (TYO:3697) expects to recognize a non-consolidated extraordinary loss from valuation declines in shares of equity-method affiliate Rise Consulting, based on quoted market prices.In its consolidated financial statements, the company will assess recoverable amounts using the investee's business plan and other factors, with the equity-method loss still under review, according to a Tokyo bourse filing on Friday.Separately, shares of Gurunavi, held as investment securities, have also seen significant fair value declines, leading to an expected extraordinary loss on both a non-consolidated and consolidated basis.All figures are preliminary, based on recent market prices, and will be finalized in the third-quarter earnings release scheduled for July 15, with further updates if conditions change.
Moody's has upgraded the ratings of four major corporates in India as part of the revision of its sovereign-linked ratings methodology, which replaces its earlier framework, according to a Friday statement issued by the ratings agency.In this process, Tata Consultancy Services' (NSE:TCS, BOM:532540) long-term local currency issuer rating was upgraded to A2 from Baa1. The long-term local currency issuer rating of another technology giant, Infosys (NSE:INFY, BOM:500209), was upgraded to A2 from Baa1.Both companies are the only ones to be rated at four notches above the Indian sovereign.Moody's said both technology giants benefit from a highly diversified revenue base across geographies and sectors, strong and consistent profitability, excellent liquidity, a debt-free balance sheet, and sustained robust free cash flow generation.The ratings agency also upgraded Reliance Industries' (NSE:RELIANCE, BOM:500325) long-term local currency issuer rating and its foreign currency senior unsecured ratings to Baa1 from Baa2, while Tata Steel's (NSE:TATASTEEL, BOM:500470) long-term foreign currency issuer rating has moved up to Baa2 from Baa3.Moody's said Reliance gains from its leading positions across oil-to-chemicals, digital services, and retail, as well as counter-cyclical business segments and significant international exposure, with more than one-third of revenue coming from exports.For Tata Steel, Moody's said that the company continues to benefit from its close association with the parent Tata Sons and the broader Tata Group, including the strength of the Tata brand, which supports its access to funding and relationships with lenders and investors.The outlook for all four Indian companies remains stable, the statement said.