FINWIRES · TerminalLIVE
FINWIRES

Daewoo Engineering & Construction Secures KRW372 Billion Public Redevelopment Project; Shares Fall 7%

By

Daewoo Engineering & Construction (KRX:047040) has secured a construction order worth 372.0 billion won for the Cheonho A1-1 District public redevelopment project, according to a Tuesday filing with the Korea Exchange.

The contract with Korea Land & Housing Corp. became effective Monday and will run for 56 months.

The project involves the construction of eight apartment buildings with 747 apartment units, as well as ancillary and retail facilities.

Shares of the construction company fell more than 7% in recent trade.

What else is happening in Asia?

Asia

Amlogic (Shanghai) Gets China Regulator Nod for Hong Kong Secondary Offering

Amlogic (Shanghai) (SHA:688099) received approval from the China Securities Regulatory Commission for its secondary share offering on the Hong Kong Stock Exchange, according to a Tuesday filing with the Shanghai bourse.The fabless semiconductor company is approved to issue up to 53.8 million H-shares, according to the filing.

SHA:688099
Asia

MediaTek Secures $3.5 Billion Investment from Nvidia; Shares Jump 10%

Semiconductor giant Nvidia agreed to invest $3.5 billion in Taiwanese chipmaker MediaTek (TPE:2454) through the subscription of convertible bonds, according to a Monday statement.MediaTek shares jumped 10% in Tuesday's trade.The move is aimed at deepening a partnership between Nvidia and MediaTek. Under the expanded agreement, MediaTek will adopt Nvidia's NVLink Fusion platform, designed to help hyperscalers, cloud providers, and AI model developers build custom accelerator chips that connect into Nvidia's rack-scale data center systems.The pact also entails enhancing existing collaboration on Nvidia RTX Spark and DGX Spark chips for consumer and enterprise PCs, as well as AI-powered automotive platforms built around MediaTek's Dimensity Auto line.

TPE:2454
Asia

Mapletree Industrial Trust Says No Certainty on US Data Center Asset Divestment

Mapletree Industrial Trust (SGX:ME8U) clarified that there is no certainty that a transaction will materialize following media reports about a potential divestment of its US data center assets.The trust said it regularly reviews its portfolio to optimize asset performance, unlock value and recycle capital.Mapletree Industrial Trust is pursuing selective divestments in North America under its portfolio rejuvenation efforts, and continues to evaluate opportunities aligned with the strategy.Any material developments will be announced on SGXNET, it said.

SGX:ME8U