FINWIRES · TerminalLIVE
FINWIRES

Crestchem's Subsidiary Forms New Subsidiary

By

Speciality chemical company Crestchem (BOM:526269) has formed a new subsidiary named Oleo Biosciences with a 75% stake in the latter, according to a BSE filing on Thursday.

The company invested 750,000 rupees for 75,000 equity shares of 10 rupees each in the new entity.

The subsidiary has been incorporated to establish a pilot-scale manufacturing facility and product development facility in the southern region of India.

The project is in the initial stages, and the company has not yet made any purchase orders for plant and machinery, the statement said.

The company's shares were up over 4% in recent trade.

Related Articles

Asia

Uranium Producers Rise as New South Wales Uranium Bill Passes into Law

Shares of Australia-listed uranium producers rose in recent Thursday trade as the New South Wales Uranium Bill was passed into law on Monday, according to a Thursday statement by the Minerals Council of Australia.Shares of Deep Yellow (ASX:DYL) rose 5%, while Paladin Energy (ASX:PDN) gained 7% and Nexgen Energy (ASX:NXG) added 6%.The new legislation removes the NSW prohibitions on uranium mining and nuclear energy, according to the statement.

ASX:DYLASX:NXGASX:PDN
Asia

Zeotech Starts Air-Core Drilling at Queensland Project

Zeotech (ASX:ZEO) started a new air-core drilling program at the Toondoon project in Queensland, with 119 holes covering 3,500 meters, according to a Thursday filing with the Australian bourse.The program, designed to increase confidence in the project's mineral resource, will focus on infill grade control drilling on mining lease 80126 and step-out exploration targeting high-prospect areas across exploration permits 27395 and 27866, the filing said.

ASX:ZEO
Asia

China to Issue Treasury Bonds Amounting to 84 Billion Yuan in Hong Kong

China's Ministry of Finance plans to issue 84 billion yuan in treasury bonds in Hong Kong this year, the ministry said in a Wednesday disclosure.The renminbi-denominated treasury bonds in Hong Kong for this year are higher than the 68 billion yuan issued a year earlier, Xinhua reported on the same day.The bonds for this year will be issued in six tranches, with the first two amounting to 29.5 billion yuan already issued in February and April, according to the ministry.

Shanghai Composite^SZSE