FINWIRES · TerminalLIVE
FINWIRES

GS Engineering & Construction Wins KRW565.07 Billion Housing Redevelopment Project; Shares Down 5%

By

GS Engineering & Construction (KRX:006360) secured an urban development project to build apartment units in Osan Yangsan district, the construction company said in a Wednesday filing with the Korea Exchange.

The contract is valued at 565.07 billion won. Under the project, the company will build 1,069 apartment units with a maximum of 27 floors and ancillary welfare facilities at one location, and 714 apartment units with a maximum of 27 floors and ancillary welfare facilities at another location, the filing said.

Shares of GS Engineering & Construction fell nearly 5% in recent trade.

Related Articles

Asia

Malakoff Unit Sign Power Purchase Deals With Tenaga Nasional

Malakoff (KLSE:MALAKOF) units - GB3, and Segari Energy Ventures - signed new power purchase agreements with Tenaga Nasional (KLSE:TENAGA) to extend operations of their gas-fired power plants in Perak, Malaysia, according to a Monday Malaysian bourse filing.Malakoff's shares slid 2% in Tuesday's late morning trade, while those of Tenaga Nasional were flat.The deals cover the 429-megawatt open cycle gas turbine plant operated by GB3 and the 1,303-megawatt combined cycle gas turbine plant operated by SEV.The GB3 plant is scheduled to begin operations under the new agreement by Jan. 1, 2027, while the SEV plant is set to start by July 1, 2027. Both agreements will expire on Dec. 31, 2029, it said.The GB3 plant's original 21-year PPA expired in December 2022, while the SEV plant's initial 21-year agreement expired in June 2017 and was followed by a 10-year extension ending in June 2027, the filing said.

KLSE:MALAKOFKLSE:TENAGA
Asia

Shenzhen Expressway to Issue 1 Billion Yuan in Bonds

Shenzhen Expressway (SHA:600548, HKG:0548) plans to issue on Tuesday 1 billion yuan in three-year medium-term bonds to repay maturing debts, according to a Monday filing with the Shanghai bourse.Payment is scheduled for May 20, with listing and trading on the interbank market set for May 21.Lead underwriters are China CITIC Bank and Shanghai Pudong Development Bank.Shares of the toll road operator rose 1% in recent trade on the Shanghai bourse.

HKG:0548SHA:600548
Asia

Island Pharmaceuticals Appoints Senior Global Health Security Adviser Ahead of Animal Rule Studies for Antiviral Drug Candidate; Shares Drop 6%

Island Pharmaceuticals (ASX:ILA) appointed US biodefense executive Mark Herzog as senior global health security adviser ahead of the start of its Animal Rule studies for galidesivir in Marburg virus disease, according to a Tuesday Australian bourse filing.Marburg virus disease, formerly known as Marburg haemorrhagic fever, is a fatal illness caused by the Marburg virus, according to the World Health Organization website.The company said it is on track to begin planned dose optimization studies in the September quarter, adding that it remains in advanced negotiations with US-based BSL-4 biocontainment facilities regarding the execution of its planned two-stage development pathway.Island Pharmaceuticals' shares dropped 6% in recent trading on Tuesday.

ASX:ILA
GS Engineering & Construction Wins KRW565.07 Billion Housing Redevelopment Project; Shares Down 5% | FINWIRES