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iX Biopharma Allots, Issues Over 1.2 Million Shares

iX Biopharma (SGX:42C) allotted and issued 1.2 million shares at SG$0.06 per share, pursuant to the exercise of warrants, according to a Wednesday filing with the Singapore Exchange.Following the issue, the company's share capital increased to 1.05 billion shares, with the new shares expected to be listed and quoted on April 21.

SGX:42C

Asia160d ago

Shyam Metalics and Energy Commissions Phase II of Cold Rolling Mill Expansion at Jamuria

Shyam Metalics and Energy (NSE:SHYAMMETL, BOM:543299) said it has commissioned Phase II of its cold rolling mill (CRM) facility at Jamuria in West Bengal, India, according to an Indian bourse filing on Friday.The facility, operated by the company's wholly owned subsidiary Shyam Sel and Power, began commercial production on April 16, the filing said.With this, the total CRM capacity has increased to 0.40 million tons per annum, it added.

BOM:543299NSE:SHYAMMETL

Asia160d ago

Singapore Shares End Week in Red Over as Uncertainty Remains Over US-Iran Talks

Singapore shares closed in the red zone on Friday, tracking larger regional losses, amid uncertainty over the timeline for the next round of U.S.-Iran diplomatic talks.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,987.85 and 5,016.20 throughout the day. It ended the session at 4,997.93, down 9.90 points or 0.2% compared to Thursday's close.Pakistan is continuing to push the peace talks, with the country's civil and military leadership visiting regional leadership to find a way forward to put an end to the Iran conflict.In economic news, Singapore's non-oil domestic exports jumped 15.3% year over year in March, following a 4% increase in the previous month, according to data released by Enterprise Singapore on Friday.On the corporate front, shares of Rex International (SGX:5WH) surged 28% at the close as its subsidiary, Lime Petroleum, will now look to satisfy its overdue cash call obligations through a new super senior bond issue.Ascent Bridge (SGX:AWG) zoomed over 18% as it completed the transfer of 30% of its shares in MTBL Cultural Centre to Nyonya Heritage.Meanwhile, MoneyMax Financial Services (SGX:5WJ) closed over 4% higher with the pawnbroker targeting to raise up to SG$44.3 million through the placement of 53 million shares at SG$0.835 each.

^STISGX:5WHSGX:5WJSGX:AWG

Asia160d ago

Akebono Brake Industry to Book 300 Million Yen in Extraordinary Income for Fiscal Year 2027

Akebono Brake Industry (TYO:7238) is expected to record an extraordinary income of 300 million yen for the fiscal year ending March 31, 2027, on a consolidated basis, according to a Tokyo bourse filing on Friday.On a non-consolidated basis, Akebono Brake expects to log a 1 billion yen extraordinary income for the same fiscal year.The income follows the company's decision to transfer a portion of its equity interests in its Chinese subsidiary, Akebono Corp. (Guangzhou) (ACG), to joint venture partner Fujiwa Machinery Industry, while also allowing a third-party capital increase by Kunshan Technical Automotive Centre, a member of the LIOHO Group.As a result of the transactions, Akebono's ownership in ACG will drop from 70% to 30%, with Fujiwa holding 55% and Kunshan holding 15%, and ACG will be reclassified from a consolidated subsidiary to an equity-method affiliate.The move is part of Akebono's restructuring of its China operations, shifting principal management responsibility to the LIOHO Group while focusing more on its disc brake pad business through Akebono Corporation (Suzhou).The equity transfer agreement is scheduled for execution on April 27, with the transaction expected to close on June 30.

TYO:7238

Asia160d ago

Zaggle Prepaid Ocean Services Secures Three-Year Contract from Federal Bank

Zaggle Prepaid Ocean Services (NSE:ZAGGLE, BOM:543985) has secured a three-year contract from Federal Bank (NSE:FEDERALBNK, BOM:500469), according to a Friday filing to the Indian stock exchanges.Under the contract, the company will provide Zaggle Save, an expense management and benefits platform, to the employees of the bank.

BOM:500469BOM:543985NSE:FEDERALBNKNSE:ZAGGLE

Asia160d ago

Japan Petroleum Exploration Warns of Profit Decline as Middle East Tensions Raise LNG Costs, Halt Iraq Output

Japan Petroleum Exploration (TYO:1662) has warned that a significant decline in profit is expected due to higher LNG procurement costs amid the escalating Middle East tensions, according to a Tokyo bourse filing on Friday.The higher costs follow its purchase of spot cargoes from other regions to replace two shipments originally scheduled from the Persian Gulf following the blockade of the Strait of Hormuz.Furthermore, production and shipments at the Garraf oil field in southern Iraq have been suspended after the Iraqi government declared force majeure, leaving no prospect of resumption and eliminating anticipated revenue from the project.While rising crude oil prices and a weaker yen would typically boost profits, these gains are expected to be outweighed by higher spot LNG costs, the Iraq suspension, and tight supply-demand for domestic chemical products, all of which are expected to erode profits.JAPEX is currently analyzing the specific financial impact and plans to incorporate an estimated figure into its fiscal year ending March 2027 earnings forecast to be announced on May 13, 2026.The company's shares closed 2% lower.

TYO:1662

Asia160d ago

S&P Downgrades Vietnam Export Import Commercial Joint Stock Bank to B+

S&P Global Ratings has downgraded Vietnam Export Import Commercial Joint Stock Bank's long-term issuer credit rating to B+ from BB-, according to a recent release.The rating action follows the bank's restructuring announcement and leadership changes that led to the resignation of most board members.The bank's capital buffers declined after a 66% drop in profits last year, given one-off expenses and heightened provisioning costs, S&P said.The rating agency believes a rise in market share will take time, with strategic changes taking two to three years to bear fruit and vulnerability due to constant leadership turnover serving as a constraint.The country's banking system continues to have volatile operating conditions amid rising credit growth and high private-sector debt amid geopolitical headwinds.The outlook is stable, given S&P's view that the bank will appoint a new leadership team and fill its board at the upcoming annual general meeting to carry out its growth strategy.The rating agency also forecasts profits to stabilize in 2026.Material changes in the bank's corporate governance, financial position or capital levels could lead to future rating actions.

HOSE:EIB

Asia160d ago

Karbonsteel Engineering Bags Supply Order Worth INR1.01 Billion; Shares Up 5%

Karbonsteel Engineering (BOM:544511) has secured new orders worth 1.01 billion Indian rupees from an undisclosed domestic infrastructure and engineering company, according to a BSE filing on Friday.The contract is for the fabrication and supply of structures for air-cooled condensers.The total quantity will be delivered within 10 months.The company's shares were up nearly 5% in recent trade.

BOM:544511

Asia160d ago

KDX Realty Investment Extends 16.5 Billion Yen Commitment Line Termination Date by One Year to April 2027

KDX Realty Investment (TYO:8972) extended its 16.5 billion yen commitment line agreement with six major banks, moving the termination date from April 30, 2026, to April 30, 2027.The REIT said the syndication-type commitment line remains unsecured and unguaranteed, with a contract period covering May 1, 2026 to April 30, 2027, according to a Tokyo bourse filing on Friday.The six lenders - Sumitomo Mitsui Banking, MUFG Bank, Mizuho Bank, Sumitomo Mitsui Trust Bank, Resona Bank, and Mizuho Trust & Banking - serve as counterparties to the facility.

TYO:8972

Asia160d ago

Yuexiu Transport Secures 50 Million Yuan Loan Facility

Yuexiu Transport Infrastructure (HKG:1052) said it secured a 50 million yuan loan facility from a bank, according to a Hong Kong bourse filing Friday.The facility will last for 364 days, the filing said.

HKG:1052

Asia160d ago

Indonesia's Danantara Fund Ushers In New Way to Support SOEs, S&P Says

A shift in the way the Indonesian government supports state-owned enterprises (SOEs) due to the Danantara sovereign wealth fund raises the country's growth prospects, S&P Global Ratings said in a recent release.Danantara, which is functioning more like an active corporate shareholder, prioritizes profit and efficiencies and has not been burdened by bureaucratic constraints, S&P said.S&P expects more consolidation and greater and more timely financial support for the SOEs as Danantara pushes for reforms in the sector.This will lead to larger SOEs in strategic areas while promoting economic growth and freeing up capital, S&P said.The rating agency also sees the sovereign wealth fund's corporate actions and shifting government support for SOEs realigning credit profiles.However, challenges persist amid defaults among some SOEs, heightened leverage for certain state-owned construction firms, and generally lower creditworthiness in the sector, S&P said.Danantara also plays a key role in capital allocation, with limitations in the dividend payouts from SOEs likely prompting more careful investments and priority for those that are more important to the economy.

^JKSE

Asia160d ago

Crompton Greaves Consumer Electricals Gets Solar Pump Order Worth INR718 Million

Crompton Greaves Consumer Electricals (NSE:CROMPTON, BOM:539876) has received a letter of empanelment and rate contract worth about 717.5 million Indian rupees from Maharashtra State Electricity Distribution Co., according to a Friday filing on Indian bourses.The order involves designing, manufacturing, supply, installation, testing and commissioning of 3,540 off-grid solar photovoltaic water pumping systems across Maharashtra, the filing said.The contract includes warranty, maintenance and remote monitoring systems, and is to be executed within 60 days from the notice to proceed, the filing said.

BOM:539876NSE:CROMPTON

Asia160d ago

Kim Loong Resources Discloses March Production Figures

Kim Loong Resources' (KLSE:KMLOONG) fresh fruit bunches output for March stood at 20,584 metric tonnes.Crude palm oil production reached 24,795 metric tonnes, while palm kernel output was recorded at 5,770 metric tonnes, according to a Wednesday Malaysian bourse filing.

KLSE:KMLOONG

Asia160d ago

The Shiga Bank and Senshu Ikeda Enter Business Alliance With Cross-Shareholdings of 0.5% to 1%

The Shiga Bank (TYO:8366) and Senshu Ikeda (TYO:8714) have agreed to form a capital and business alliance, under which each company will acquire approximately 0.5% to 1% of the other's shares based on current stock prices.The two regional financial institutions aim to strengthen their capabilities by leveraging mutual resources such as branch networks, customer bases, human capital, and brands, according to Tokyo bourse filings on Friday.Key alliance fields include corporate growth support, wealth management services for individuals, sustainable finance, digitalization, and human resource development and exchange.

TYO:8366TYO:8714

Asia160d ago

Info Edge (India) Gets Board Nod to Invest Additional INR100 Million in Wholly-Owned Arm

Info Edge (India) (NSE:NAUKRI, BOM:532777) has received board approval to invest an additional 100 million Indian rupees in its wholly-owned subsidiary Smartweb Internet Services, according to a Friday filing to the Indian stock exchanges.The company has agreed to acquire 1 million 0.0001% compulsorily convertible debentures having a face value of 100 rupees each, for its investment.The additional investment will be made in 30 days, and it will allow Smartweb to meet its funding requirements and strengthen its financial position.Smartweb is engaged in the business of providing all kinds of internet services, and acts as an investment advisor, financial consultant, management consultant, investment manager, and sponsor of alternative investment funds.

BOM:532777NSE:NAUKRI

Asia160d ago

Ningbo Construction Raises 400 Million Yuan Via 270-Day Bond Issue

Ningbo Construction (SHA:601789) raised 400 million yuan via the issue of 270-day notes with an interest rate of 1.70%.The bonds will mature Jan. 10, 2027, according to a Friday filing with the Shanghai bourse.Shares of the civil engineering company closed 2% lower Friday.

SHA:601789

Asia160d ago

China National Building Material Expects Q1 2026 Loss to Narrow

China National Building Material (HKG:3323) said it expects to book 170 million yuan in attributable loss for the first quarter of 2026, narrowing from a loss of 517 million yuan in the same quarter of 2025, according to a Hong Kong bourse filing Friday.The firm attributed the reduction in attributable loss to an increase in sale prices and decrease in the cost of sales for its major products, including glass fibers.

HKG:3323

Asia160d ago

Litalico to Record 140 Million Yen Extraordinary Loss from Merger with Subsidiary

Litalico (TYO:7366) said it expects to record an extraordinary loss of 140 million yen in its non-consolidated financial statements following the absorption of a wholly owned subsidiary, according to a Friday filing on the Tokyo Stock Exchange.The loss relates to the extinguishment of shares of Plus One Solutions, which was merged into the company effective Nov. 1, 2025, reflecting the difference between the subsidiary's net assets and the book value of its shares.The company, which provides employment support and learning support services for people with disabilities, said the loss will not affect consolidated financial results for the fiscal year ended March 31.

TYO:7366

Asia160d ago

Prima Meat Packers Slashes Full-Year Forecasts Due to Impairment Loss

Prima Meat Packers (TYO:2281) has slashed its attributable profit forecast for the fiscal year ending March to 4.6 billion yen from 8 billion yen previously, according to a Tokyo bourse filing on Friday.Earnings per share are also projected to be lower at 91.52 yen from the earlier estimate of 159.17 yen, while net sales are forecast at 475 billion yen, slightly below the prior forecast of 480 billion yen.The downward revision is mainly due to a decrease in net sales at a vendor subsidiary, which led to an expected impairment loss on fixed assets and a reversal of deferred tax assets at that subsidiary.Additionally, other subsidiaries are also anticipated to record impairment losses on fixed assets, including goodwill.The company noted that its dividend forecast remains unchanged from previously announced figures.

TYO:2281

Asia160d ago

Nisso Holdings to Merge Subsidiary and Sub-Subsidiary to Streamline Operations

Nisso Holdings (TYO:9332) said it will merge its consolidated subsidiary Man to Man Holdings with sub-subsidiary Man to Man, according to a Friday filing on the Tokyo Stock Exchange.The absorption-type merger will see Man to Man as the surviving entity and Man to Man Holdings dissolved, with the effective date set for June 1, 2026.Under the deal, Nisso will receive 9,900 shares of Man to Man in exchange for its 2,000 shares in Man to Man Holdings. The restructuring is aimed at eliminating dual holding structures and enabling faster decision-making across operating companies.

TYO:9332

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