Race Eco Chain (NSE:RACE, BOM:537785) said chief financial officer and key managerial personnel Piyanshu Sharma has resigned, effective May 12, citing personal reasons, according to a same-day filing on Indian bourses.
Shares of the company fell nearly 3% in Wednesday's trade.
The company said it is in the process of appointing a new CFO.
Pertamina Patra Niaga's ex-president director, Alfian Nasution, has been sentenced to a prison term of six years in a fuel purchase corruption case, The Jakarta Globe reported Tuesday.Central Jakarta District Court judges also handed a six-year sentence to Hanung Budya Yuktyanta, the company's marketing and trading director, under the same case.The executives were guilty of appointing oil storage terminal operators with substandard facilities, authorizing inaccurate Pertalite gasoline state subsidy payments, and selling diesel below production cost, according to the report.The court imposed lighter sentences than the 14-year jail terms pursued by prosecutors, stating the prosecutors were unable to prove personal enrichment by the defendants, The Jakarta Post said.The corruption case reportedly led to 285 trillion rupiah of losses to the state, the news report 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.)
Standard Chartered (HKG:2888) repurchased 782,380 shares on Tuesday at an average price of 18.27 pounds sterling apiece, according to a Wednesday filing with the Hong Kong bourse.The British lender plans to cancel the shares, following which it will have about 2.21 billion shares in issue.
Nanjing Xinlian Electronics (SHE:002546) won a bid from the State Grid Corporation of China for four packages worth 54.5 million yuan, according to a Shenzhen bourse filing on Wednesday.The packages included smart integrated terminals and special transformer collection terminals.The metering company's shares jumped 4% at the close.