FINWIRES · TerminalLIVE
FINWIRES

Kelington Group Arm Plans to Set Up New Air Separation Unit Plant in India

By

Ace Gases Technologies, a wholly-owned subsidiary of Kelington Group (KLSE:KGB), plans to construct a merchant air separation unit plant in Maharashtra, India, with a planned investment of 120 million ringgit, according to a Wednesday filing with the Malaysian bourse.

The ASU plant will be developed by the third quarter of 2028 on a parcel of land leased from the Maharashtra Industrial Development Corporation for a 95-year term.

The new unit is aimed at strengthening Ace Gases' industrial gas liquid production capacities to meet increasing demand in the region.

The investment will be made through a combination of internally generated funds and bank borrowings.

Related Articles

Asia

Xiamen Tungsten to Avail of Up to 2.1 Billion Yuan of Wealth Management Products; Shares Rise 6%

Xiamen Tungsten (SHA:600549) will avail of wealth management products for up to 2.1 billion yuan, according to a Thursday filing with the Shanghai bourse.The funds will be sourced from idle proceeds from its cash management program, the tungsten materials supplier said in its filing.Shares rose 6% during the midday break on Thursday.

SHA:600549
Asia

Seiko Epson to Launch Up to 30 Billion Yen Share Buyback

Seiko Epson (TYO:6724) said its board agreed to launch an up to 30 billion yen buyback, repurchasing as many as 17 million common shares as part of its plan to drive growth investments and shareholder returns.The printer manufacturer said the share buyback will run from Aug. 7, 2026, through March 31, 2027, and all repurchased shares will be canceled, according to a Thursday filing on the Tokyo Stock Exchange.The buyback, to be conducted on the Tokyo Stock Exchange using the discretionary method, represents 5.31% of its outstanding shares excluding treasury stock.

TYO:6724
Asia

CPE Technology Unit to Buy Johor Land with Factory for MYR10 Million

CPE Technology's (KLSE:CPETECH) subsidiary, Champion Precision Technology, agreed to acquire a piece of freehold land with a factory in Johor, Malaysia, from Flomatic Industries, for 10 million ringgit, according to a Wednesday filing with Bursa Malaysia.The acquisition will be funded via proceeds from the company's initial public offering.The expansion is part of CPE's strategy to strengthen its manufacturing capabilities and expand production capacity.The transaction is expected to conclude by the second quarter of 2027, the filing said.

KLSE:CPETECH