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NEC, Sumitomo Electric Partner on Meta's Petabit Transoceanic Subsea Cable

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Japanese tech firms NEC (TYO:6701) and Sumitomo Electric Industries (TYO:5802) are participating in the development of Meta Platforms' new transoceanic subsea cable project, Petal, according to a statement from Meta on Monday.

Petal will link France and the US across roughly 7,000 km, and deliver petabit capacity at transoceanic distances,

It will use multi-core fiber technology at transoceanic scale, delivering 1 petabit per second.

The cable is expected to enter service in 2029, with French telecommunications firm Orange supporting the French landing on the Atlantic coast.

What else is happening in Asia?

Asia

Goodman Group Receives 2 Shareholder Resolutions for Upcoming Annual General Meeting

Goodman Group (ASX:GMG) received two shareholder resolutions for consideration at its Nov. 19 annual general meeting, according to a Monday filing with the Australian bourse.One of the resolutions calls on the company to disclose its framework for identifying and managing material environmental and social-license risks related to data center development close to residential areas, schools, or environmentally sensitive land.The second one seeks an amendment to Goodman Group's constitution to permit advisory resolutions, per the filing.Both resolutions are advisory and do not bind the company's directors.Its shares gained past 1% in recent Tuesday trade.

ASX:GMG
Asia

Farglory Land Development Approves NT$5.46 Billion Construction Contract

Farglory Land Development (TPE:5522) approved a construction contract with its subsidiary, Farglory Construction, for a land bank in Kaohsiung City for NT$5.46 billion, according to a Monday Taiwan bourse filing.The real estate developer's subsidiary will be engaged in the contract on the company's own land to increase revenue.

TPE:5522
Asia

Sealink International Receives $17 Million Insurance Payout for Vessel Fire Incident in Brazil

Sealink International (KLSE:SEALINK) has received the insurance proceeds of $17.3 million on Monday, in relation to the fire incident involving one of the group's vessels located in Brazil, according to a sameosay filing to the Malaysian bourse.The payout follows a settlement agreement executed on May 5.The company's shares were up nearly 2% in recent trade.

KLSE:SEALINK