FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: South Korea Reportedly Considering $22.3 Billion Texas Gas Power Investment

By

South Korea is said to be planning to jumpstart its $350 billion US investment package with a 6.3-gigawatt gas-fired power project in Texas, The Korea Herald reported Tuesday, citing government sources.

The proposed project in Encinal, Texas, would be developed in phases and see a reported investment of $22.3 billion from the Asian country.

A memorandum of understanding covering the investment framework could be signed as early as Sept. 18, while the details are yet to be finalized.

The South Korean Trade Ministry did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

What else is happening in Asia?

Asia

Majestic Dragon Aerotech Appoints Marketing Chief

Majestic Dragon Aerotech (HKG:0918) has appointed Zhang Chen as the company's chief marketing officer, according to a Monday bourse filing.Zhang has over 10 years of experience in real estate development and in managing hotel operations and fire safety systems. His appointment will be effective Dec. 7.

HKG:0918
Asia

HRnetGroup Gets SGX-ST Preliminary Nod for Share Listing

HRnetGroup (SGX:CHZ) has received in-principle approval from the Singapore Exchange Securities Trading (SGX-ST) for the listing and quotation of 241,527 shares to be transferred to certain employees and executive director.The approval is subject to the company complying with SGX-ST listing requirements, including obtaining specific shareholders' approval where applicable, according to a Monday Singapore Exchange filing.The company will make the necessary announcement once the shares are transferred.

SGX:CHZ
Asia

Sequoia Financial Group Ex-Boss Faces 10-Year ASIC Ban From Financial Services Roles

Sequoia Financial Group (ASX:SEQ) former Chief Executive Garry Crole has been banned by the Australian Securities and Investments Commission (ASIC) for 10 years from performing any function involved in carrying on a financial services business as a director or responsible manager, according to a Tuesday statement by ASIC.The regulator said Crole failed to adequately respond to serious concerns about the financial advice model used by former Interprac-authorized representatives, who advised thousands of clients to invest superannuation in the now-collapsed First Guardian and Shield Master Funds.The company did not immediately respond to anemail request for comment.

ASX:SEQ