FINWIRES · TerminalLIVE
FINWIRES

Keppel Secures Facilities-Based Operator License for Kruger Subsea Cable

By

Keppel's (SGX:BN4) subsidiary Keppel Kruger has obtained a Facilities-Based Operator license from Singapore's Infocomm Media Development Authority, allowing it to own, operate and maintain telecommunications infrastructure and provide services related to the Kruger Cable System.

The system will link Singapore with Malaysia, Bangladesh, India and Oman, according to a Tuesday news release.

As part of its asset manager-operator model, Keppel plans to mobilize third-party capital through its private infrastructure fund to support the development of the Kruger Cable System. The project is under evaluation with potential investors, with an investment decision expected by year-end.

Related Articles

Asia

Guolian Securities to Repurchase Up to 200 Million Yuan of Shares

Guolian Securities (SHA:601456, HKG:1456) is looking to buy back between 100 million yuan and 200 million yuan of shares, according to a Tuesday filing with the Shanghai bourse.The securities company could buy between 7.7 million and 15.4 million shares at 13 yuan apiece.The share repurchase will help protect the company's value and shareholder rights, Guolian said in its filing.

HKG:1456SHA:601456
Asia

CP Axtra's Profit Declines in Q2

CP Axtra (BKK:CPAXT) reported a profit attributable to owners of 1.87 billion baht in the second quarter, down from 2.29 billion baht a year earlier.Earnings per share were 0.18 baht, compared with 0.22 baht in the year-ago period, according to an Aug. 7 Thailand Exchange filing.Total revenue rose to 132.3 billion baht from 129.1 billion baht previously.

BKK:CPAXT
Asia

Update: Austal Gets Up to $1.2 Billion Offer for US Operations From Hanwha Unit; Shares Up 19%

(Updates to add stock movement in the headline and the last paragraph)Australian shipbuilder Austal (ASX:ASB) received a non-binding, conditional proposal from a unit of South Korea's Hanwha Group to acquire its U.S. operations for an indicative enterprise value of up to $1.20 billion.Hanwha Defence USA has offered $1.05 billion to $1.20 billion for the relevant Austal USA entities and operations, according to a Tuesday press release.The proposed deal would cover 100% of the relevant Austal US entities but exclude Austal's publicly traded shares and its core Australasia operations in Australia, the Philippines, and Vietnam.The offer is subject to due diligence, regulatory approvals, and agreement on definitive transaction terms.Austal's board has approved a four-week due diligence period for Hanwha to review the US business and engage with key government and other counterparties.The proposal does not include a financing condition, the statement said.Austal's shares jumped around 19% in recent Tuesday trade.

ASX:ASB