FINWIRES · TerminalLIVE
FINWIRES

GAIL Signs Critical Minerals Cooperation Deal with KABIL

By

GAIL (India) (NSE:GAIL, BOM:532155) signed a memorandum of understanding with Khanij Bidesh India (KABIL) to collaborate on critical and strategic minerals, according to a Friday press release.

Shares of the state-owned energy corporation rose 1% in Monday's morning trade.

The agreement provides a framework for the companies to identify and evaluate opportunities in critical and strategic minerals, exchange technical expertise, build capabilities, and explore joint initiatives across the mining value chain.

KABIL is a joint venture of National Aluminium Company (NSE:NATIONALUM, BOM:532234), Hindustan Copper (BOM:513599, NSE:HINDCOPPER) and Mineral Exploration & Consultancy.

GAIL said the partnership aims to strengthen India's long-term supply of critical minerals and support the country's clean energy transition.

Related Articles

Asia

Eoptolink Expects H1 Profit to Rise by Up to 103%; Shares Up 4%

Eoptolink Technology (SHE:300502) expects its net profit attributable to shareholders in the first half to jump by between 78% and 103% year on year to a range of 7 billion yuan to 8 billion yuan, according to a Shenzhen bourse filing on Monday.The attributable profit a year earlier was 3.94 billion yuan.The company attributed the forecast to an increase in revenue due to the growth in investment in artificial intelligence-related computing power. The non-recurring gains and losses will also increase net profit by approximately 19 million yuan.The optical transceiver module manufacturer's shares rose 4% during the morning trade.

SHE:300502
Asia

Malaysia Pension Fund Pursuing Recovery of eFishery Investment After Fraud Case

Malaysia's state pension fund Kumpulan Wang Persaraan (KWAP) said it invested 163.4 million ringgit in Indonesian agritech startup eFishery for a 2.51% minority stake and is pursuing "all available avenues to maximize recovery of the investment."The statement followed a Bloomberg report that Malaysia's anti-graft agency had launched an investigation into losses linked to KWAP's investment in eFishery.KWAP said the losses stemmed from deliberate financial manipulation at eFishery. The fund noted that co-founder and former Chief Executive Officer Gibran Huzaifah was sentenced to nine years in prison in April for embezzlement and money laundering.The pension fund said it has completed an internal review of the investment and strengthened its private market investment process and portfolio monitoring after the irregularities were uncovered.

FTSE Bursa Malaysia KLCI
Asia

Medi Lifestyle Appoints CEO; Shares Up 4%

Medi Lifestyle (SGX:Z4D) has appointed Tan Lee Seng as chief executive officer, with effect from Friday, according to a same-day filing to the Singapore bourse.Prior to the appointment, Seng was an executive director of the company.His responsibilities include the overall management and execution of the group's strategic objectives, including overseeing business development, driving corporate growth and expansion initiatives, and leading the group's performance and corporate planning activities.The company's shares were up nearly 4% in Monday's trade.

SGX:Z4D