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Asia

Update: ASX Biggest Losers

(Updates to add tickers)Here are the ASX-listed companies with the biggest losses on Friday:Energy Resources of Australia (ASX:ERA): -20%, AU$0.002United Overseas Australia (ASX:UOS): -6%, AU$0.68Tamboran Resources (ASX:TBN): -7%, AU$0.22REA Group (ASX:REA): -4%, AU$141.51News Corp (ASX:NWS): -4%, AU$42.45Viva Energy Group (ASX:VEA): -4%, AU$2.24DigiCo Infrastructure REIT (ASX:DGT): -4%, AU$2.43Tuas (ASX:TUA): -3%, AU$2.62Anteris Technologies Global (ASX:AVR): -3%, AU$13.08Beach Energy (ASX:BPT): -2%, AU$1.06

ASX 200ASX:AVRASX:BPTASX:DGTASX:ERAASX:NWSASX:REAASX:TBNASX:TUAASX:UOSASX:VEA
Tuas Scraps Deal to Acquire Singapore's M1
US Markets

Tuas Scraps Deal to Acquire Singapore's M1

Australian telecommunication company Tuas (ASX:TUA) terminated its plan to acquire Keppel's stake in Singaporean digital network operator M1 for SG$1.43 billion, according to a Friday release.The 2025 deal, made through Tuas' Singapore-based unit Simba Telecom, collapsed after several conditions were not met on the long-stop date of May 21, the release said.The development came days after Singapore's Infocomm Media Development Authority (IMDA) suspended its review of the planned acquisition after finding out that Simba may be using unauthorized radio frequency bands for mobile services.Keppel had previously said it has been working on plan B in case it retains its 83.9% ownership in M1."We have a 90-day plan to drive M1's efficiency, which we will activate with immediate effect. This would include reducing technology platform costs and network costs, using AI for automation, as well as product rationalization," the global asset manager said on May 18.With Tuas exiting the acquisition race, telecom operator StarHub (SGX:CC3) is likely to become a suitor for M1, while Singtel (SGX:Z74) may face more regulatory troubles in its potential bid for M1 due to its leading 44% share in the mobile market, Bloomberg News reported, citing its analyst Chris Muckensturm.Singtel's executive officer, Yuen Kuan Moon, said they "would definitely evaluate where the opportunities are" if they are able to be included in the consolidation, the report said.

ASX:TUASGX:CC3SGX:Z74
Asia

Australian Shares Climb; Guzman y Gomez Exiting US Market, Expects One-Off Impact of Up to $40 Million

Australian shares climbed up on Friday as optimism prevailed over a potential peace agreement between the US and Iran to end the conflict in the Middle East.The S&P/ASX 200 Index rose 0.41%, or 35.30 points, to close at 8,657.Brent crude oil futures rose by around 2% to trade at nearly $105 per barrel. US Secretary of State Marco Rubio said there were "some good signs" in talks with ​Iran. However, differences remain over the control of the Strait of Hormuz and the nuclear issue.On the domestic front, Australia's housing demand took a measurable hit in the March quarter, and total loan commitments fell 6.2% in the quarter due to central bank rate hikes and low confidence, Cotality said in a report. The overall value of lending dropped by 3.8%. However, both measures remained higher than in March 2025.Westpac points to quarter-over-quarter gross domestic product growth of around 0.4% in the March quarter, with a range of 0.3% to 0.55%. The bank's framework points to growth stalling at just 0.1% quarter-over-quarter in the June quarter. The longer the Middle East conflict persists, alongside other sources of uncertainty, the greater the risk of a contraction in the June quarter.In company news, Guzman y Gomez (ASX:GYG) is exiting the US market with immediate effect as the business has not delivered sales momentum and is not meeting financial targets. As a result of the exit, the company expects to recognize a one-off profit and loss impact of between $30 million and $40 million in its 2026 results. Its shares were up 10% on market close.Tuas (ASX:TUA) said the sale and purchase agreement between it and its unit, Simba Telecom, and Keppel Konnect and Konnectivity regarding Simba's purchase of the shares in M1 was terminated.Lastly, Mayne Pharma Group (ASX:MYX) is entitled to nearly AU$13.3 million in legal costs following court proceedings against Cosette Pharmaceuticals in the New South Wales Supreme Court last year. Its shares closed up 3%.

ASX 200ASX:GYGASX:MYXASX:TUA
Asia

Tuas Says Agreement For Simba Telecom's Purchase of Shares in M1 Terminated

Tuas (ASX:TUA) said the sale and purchase agreement between it and its unit Simba Telecom, and Keppel Konnect and Konnectivity regarding Simba's purchase of the shares in M1 was terminated, according to a Friday Australian bourse filing.Under the terms of the agreement, it would be terminated if the conditions precedent were not fulfilled or waived by the long-stop date. The long-stop date had earlier been extended to Thursday. Several conditions precedent were not met on the same date.Simba continues to cooperate with the ongoing investigation being conducted by the Infocomm Media Development Authority into potential breaches of the Telecommunications Act and the conditions of Simba's facilities-based operator license.

ASX:TUA
Asia

Australian Shares Decline; Santos Achieves First Oil from Alaska Project

Australian shares declined on Monday as ⁠oil prices rose and the Strait of Hormuz remained closed.The S&P/ASX 200 Index fell 1.45%, or 125.50 points, to close at 8,505.30.Brent crude oil futures climbed to above $110 per barrel. The 30-year US Treasury yield rose to the highest point since 2023.On the domestic front, the Reserve Bank of Australia said Project Acacia, a research project led by the RBA and the Digital Finance Cooperative Research Center (DFCRC), revealed considerable industry interest in tokenization and showed potential to materially improve the efficiency and functioning of Australia's wholesale asset markets.In company news, Santos (ASX:STO) achieved first oil from the Pikka phase one development in Alaska. The phase one initiated production was part of the start-up and late-stage commissioning process, and it is expected to lead to an initial ramp-up to gross 20,000 barrels of oil per day over the next few weeks. Its shares rose 3% on market close.Tuas (ASX:TUA) said the Infocomm Media Development Authority of Singapore paused the review of the proposed acquisition of Singaporean telecommunications firm M1 by its Simba Telecom subsidiary. Its shares closed down 63%.Lastly, Brambles (ASX:BXB) lowered its forecast fiscal-year ­sales revenue growth to 2% to 3% from the previous 3% to 4% and underlying profit growth to 3% to 5% from 8% to 11%, reflecting about $60 million in earnings impact due to repair capacity constraints in parts of its US subcontracted service center network. Its shares fell 20% on market close.

ASX 200ASX:BXBASX:STOASX:TUA
Singapore Telecom Regulator Suspends Review of Keppel's Sale of M1 to Simba Telecom
US Markets

Singapore Telecom Regulator Suspends Review of Keppel's Sale of M1 to Simba Telecom

Singapore's Infocomm Media Development Authority (IMDA) suspended its review of Keppel's (SGX:BN4) proposed SG$1.43 billion sale of telecommunications provider M1 to Simba Telecom, a unit of Tuas (ASX:TUA).The telecom regulator said it halted the assessment until further notice while it investigates the matter, according to a Monday press release.IMDA said it discovered during the review process that Simba may have used unassigned radio frequency bands to provide mobile services, potentially breaching Singapore's telecommunications law and conditions tied to the company's facilities-based operations licence.The regulator said it is investigating the matter and will take enforcement action if the breach is established.IMDA added that the findings of the investigation could materially affect its assessment of the proposed consolidation and any potential impact on competition, public interest, and cybersecurity.Last August, Keppel said it would sell its 83.9% stake in M1 to Simba Telecom while retaining M1's non-telecom operations, a transaction expected to unlock nearly SG$1 billion in cash proceeds.The company had described the proposed combination as a strategic move to create a "nimble and competitive digital-first telco" better positioned to accelerate investments in the telecom sector.Responding to IMDA's decision, Keppel said it had prepared a "Plan B" should it retain majority ownership of M1 and will begin executing a 90-day efficiency plan aimed at improving the telecom operator's run-rate EBITDA."On Keppel's part, our target to monetise SG$2-SG$3 billion of non-core assets in 2026 remains unchanged," the company said."The proposed divestment of our stake in M1's telecommunications business will be removed from Keppel's announced monetisation for 2025," it added.Keppel added that it remains open to future divestment opportunities and continues to believe Singapore's telecommunications industry would benefit from consolidation.

ASX:TUASGX:BN4
Asia

Tuas Says Singapore Media Development Authority Suspends Review of Proposed Acquisition; Shares Hit Over Two-Year Low

Tuas (ASX:TUA) said the Infocomm Media Development Authority of Singapore paused the review of the proposed acquisition of Singaporean telecommunications firm M1 by its Simba Telecom subsidiary, according to a Monday filing with the Australian bourse.The decision comes as the authority learned that Simba may have been using radio frequency bands that it was not authorized to use, breaching the conditions of its facilities-based operations license and the Telecommunications Act, the filing said.Tuas shares fell 67% in morning trade on Monday and earlier hit their lowest since late 2023.

ASX:TUA
Asia

ASX Biggest Losers

Here are the 10 ASX-listed companies with the biggest losses on Monday.Wisetech (ASX:WTC): -3%, AU$42.79NexGen Energy (ASX:NXG): -3%, AU$17.26Telix Pharmaceuticals (ASX:TLX): -2%, AU$14.47Cochlear (ASX:COH): -2%, AU$94.76Paladin Energy (ASX:PDN): -2%, AU$12.28Origin Energy (ASX:ORG): -2%, AU$12.44EVT (ASX:EVT): -2%, AU$12.44Tuas (ASX:TUA): -2%, AU$5.97Ramsay Health Care (ASX:RHC): -2%, AU$39.15Southern Cross Gold (ASX:SX2): -2%, AU$11.07

ASX 200ASX:COHASX:EVTASX:NXGASX:ORGASX:PDNASX:RHCASX:SX2ASX:TLXASX:TUAASX:WTC