FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Taiwan Moves to Secure LNG Supplies as Middle East Tensions Persist

By

Taiwan has concluded liquefied natural gas (LNG) shipping schedules for June to August and is making winter procurement arrangements, amid Middle East tensions, state news agency CNA reported, citing Premier Cho Jung-tai's Cabinet meeting address.

Cho said the government has reviewed supplies of energy, agricultural inputs, and petrochemical feedstocks and confirmed overall domestic supply remains stable with prices gradually normalizing, according to the report.

He added that LNG shipping plans for summer have been set, and winter procurement planning is underway, while industrial gas prices will rise by 5% in June, but residential and power-related rates will remain unchanged. The government will continue price-stabilization measures and inspections to prevent unreasonable price increases and maintain market stability, CNA said.

(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.)

Related Articles

Asia

GS Engineering and Construction Bags Disputed KRW1.92 Trillion Construction Project

GS Engineering and Construction (KRX:006360) secured a 52-month construction Sangdaewon 2 District Housing Redevelopment Project worth 1.922 trillion won, according to a Tuesday filing with the Korean Exchange.The scope of the project includes the development of 4,885 apartments across 43 buildings and auxiliary welfare facilities.Additionally, the contract was awarded to the company after the granter of the award terminated its contract with an existing contractor.The company expects legal proceeding and has not yet signed a definitive agreement.

$KRX:006360
Asia

Heartland Group's Acquisition of TSB Bank to Help Reduce Exposure to Riskier Lending, Fitch Ratings Says

Heartland Group Holdings' (ASX:HGH, NZE:HGH) proposed acquisition of New Zealand-based TSB Bank will help cut its exposure to riskier lending types as a proportion of its total credit portfolio, Fitch Ratings said Tuesday.The ratings agency placed Heartland's BBB long-term issuer default ratings on rating watch positive as it waits for the deal to progress.Heartland Bank's long-term ratings are driven by its viability rating, which is one notch lower than the implied viability rating of "bbb+" because of the lender's higher exposure to riskier lending compared with domestic peers, Fitch said.In addition to reducing its overall risk profile, the deal will more than double Heartland Bank's share of New Zealand banking system assets, help strengthen its asset quality, and boost its funding profile given TSB's stronger deposit mix and liquid asset holdings, Fitch said.However, it added that TSB has a structurally lower earnings profile than Heartland Bank, and "even with synergies we expect the combined bank's earnings to be lower than that of pre-acquisition HBL's through-the-cycle earnings."Shares of Heartland Group in Australia were nearly 12% higher in recent Tuesday trade. The company's New Zealand-listed shares climbed past 11%.

$ASX:HGH$NZE:HGH
Asia

Mengdian Huaneng Thermal Power Responds to Unusual Stock Movement; Shares Down 6%

Inner Mongolia Mengdian Huaneng Thermal Power (SHA:600863) said it experienced an abnormal stock movement over three consecutive trading days, but its operations are still normal, according to a Shanghai bourse filing on Tuesday.Huaneng's closing price between May 28 and June 1 was 46.94%, exceeding the growth of the bourse's threshold.The company said it has no significant announcement or undisclosed information that could have affected its stock price.The Chinese power company's shares slumped 6% during Tuesday's midday trade.

$SHA:600863