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MCC Signs 304.7 Billion Yuan Contracts from January to May

Metallurgical Corp. of China (SHA:601618, HKG:1618), or MCC, signed new contracts worth nearly 304.7 billion yuan in the five months ended May 31, according to a Tuesday Hong Kong bourse filing.Of the total, the value of newly signed overseas contracts stood at 18.6 billion yuan.In May alone, the engineering construction company entered into three major agreements.

HKG:1618SHA:601618

Asia19d ago

Adani Enterprises, Jabil Plan AI Data Center Hardware Manufacturing Platform in India

Adani Enterprises (NSE:ADANIENT, BOM:512599) and Jabil Inc. plan to form a strategic alliance to build an artificial intelligence and data center infrastructure manufacturing platform in India.The proposed platform will focus on manufacturing AI racks, storage and networking systems, and related data center infrastructure for hyperscalers, co-location operators and enterprises, according to an Indian bourse filing on Tuesday. It will also cover production of power distribution units, coolant distribution units, transformers, switchgears, bus bars and thermal management systems.The companies are working on operational frameworks and final documentation for the initiative, which will support Adani Group's 2035 target to have 5 gigawatts of AI-ready, green-energy-powered data center capacity.

BOM:512599NSE:ADANIENT

Asia19d ago

Hunan Corun New Energy to Construct Energy Storage Power Station

Hunan Corun New Energy (SHA:600478) subsidiary Dingxing Kerui Digital New Energy Technology will invest 440 million yuan to construct a 100-megawatt hybrid independent energy storage power station, according to a Tuesday filing with the Shanghai bourse.The construction will last for eight months, according to the filing.

SHA:600478

Asia19d ago

China Mobile Names CEO

China Mobile (HKG:0941, SHA:600941) named Chen Yangfan as its CEO effective Tuesday, according to a same-day Hong Kong bourse filing.Chen is currently the president of China Mobile Communications Group, the telco's ultimate controlling shareholder.

HKG:0941SHA:600941

Asia19d ago

Japan Business Systems Secures 3 Billion Yen Syndicated Commitment Line with Financial Covenant

Japan Business Systems (TYO:5036) to enter into a 3 billion yen, syndicated commitment line agreement with Sumitomo Mitsui Financial (TYO:8316), Sumitomo Mitsui Banking as arranger and agent.The facility, scheduled for signing on July 28, carries a one-year term extendable up to two times with interest at TIBOR plus a spread, according to a Tokyo bourse filing on Tuesday.The agreement imposes two financial covenants, including maintaining non-consolidated net assets at no less than 75% of the higher of the fiscal year-end September or the prior year-end, and avoiding negative ordinary income for two consecutive fiscal years.

TYO:5036TYO:8316

Asia19d ago

Tata Consultancy Services to Book $70 Million Exceptional Expense in Fiscal Q1 in DXC Trade Secrets Case

Tata Consultancy Services (NSE:TCS, BOM:532540) said it will recognize an additional $70 million as a one-time exceptional expense in Q1 FY27 toward damages, interest and legal costs related to its ongoing dispute with DXC Technology.The company said it has already provided $150 million in its books for the matter in line with applicable accounting standards.The U.S. Supreme Court on Monday rejected Tata Consultancy's petition seeking review of a lower court ruling in a trade secrets dispute with DXC Technology.The case stems from a 2019 lawsuit filed by DXC's predecessor Computer Sciences Corp, which alleged misuse of proprietary life-insurance software to build a competing platform. A jury in 2023 had recommended $210 million in damages, later reduced to $168 million by a U.S. court.Tata Consultancy shares rose nearly 2% in recent trade.

BOM:532540NSE:TCS

Asia19d ago

Wanda Film to Buy Back Up to 150 Million Yuan in Shares

Wanda Film (SHE:002739) will repurchase between 80 million yuan and 150 million yuan of its shares.The shares will be bought back at up to 13.80 yuan per share within 12 months from board approval on June 15, according to a Tuesday filing with the Shenzhen bourse.

SHE:002739

Asia19d ago

Malaysian Shares Maintain Winning Streak on US-Iran Peace Deal; LAC MED Shares Rally 13%

Malaysian shares extended gains to end in the green on Tuesday, mirroring regional performance. The investor sentiment remained upbeat after the US and Iran signed a peace deal, brokered by Pakistan, to reopen the Strait of Hormuz.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 18.6 points to end 1.1% higher at 1,709.99.In corporate news, shares of LAC MED (KLSE:LACMED) jumped about 13% on close after its unit LAC Medical Supplies secured a letter of award worth 78.9 million ringgit for the supply and delivery of chemical pathology reagents to 10 Health Ministry hospitals in Kedah, Malaysia.RNG Tech (KLSE:RESTNGO) is seeking to raise 16.4 million ringgit via an IPO on the ACE Market of Bursa Malaysia. The IPO comprises a public issue of 126.1 million new shares at 0.13 ringgit each, as well as an offer for sale of 78.8 million shares.Shares of Hextar Technologies Solutions (KLSE:HEXTECH) slid over 2% on close after its unit mutually agreed with Widad Development (Nilai) to terminate discussions and cease all obligations relating to the proposed disposal of four parcels of industrial land in Negeri Sembilan, Malaysia.

FTSE Bursa Malaysia KLCIKLSE:HEXTECHKLSE:LACMEDKLSE:RESTNGO

Asia19d ago

Falcon Power Names Chief Operating Officer

Falcon Power (TPE:1516) named Evan Chen as its new chief operating officer, according to a Tuesday Taiwan bourse filing.Chen was also redesignated from president to vice president of the electronic component company.

TPE:1516

Asia19d ago

Market Chatter: DeepSeek Raises 50 Billion Yuan in Funding Round

DeepSeek raised more than 50 billion yuan in its first funding round, Reuters reported Tuesday, citing The Information.The funding round required investors to pour capital into a limited partnership managed by CEO Liang Wenfeng ⁠rather than into DeepSeek itself, helping preserve founder control, the report said.Investors would be subject to a five-year lock-up period and will not have voting rights, while China's National Artificial Intelligence Industry Investment Fund will be the exception with voting rights and exemption from the lock-up, Reuters said.Liang invested 20 billion yuan of his own money into the funding round, while Tencent (HKG:0700) was considering 10 billion yuan and CATL (SHE:300750, HKG:3750) was contemplating about 5 billion yuan, according to a previous Reuters report.(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.)

Shanghai Composite^SZSEHKG:0700HKG:3750SHE:300750

Asia19d ago

Tamron Raises Dividend Forecasts for Fiscal Year 2026; Sets Longer Term Financial Targets

Photographic lenses maker Tamron (TYO:7740) raised its dividend forecast for fiscal year 2026 to 51 yen per share, up from the previous 37 yen, as part of a broader revision to its shareholder return policy.The new shareholder return policy introduces a dividend determination baseline of either a 60% payout ratio or an 8% dividend on equity (DOE), whichever is higher, effective from 2027, according to a Tokyo bourse filing on Tuesday.In a separate disclosure, the company also set targets of 120 billion yen in net sales, 25 billion yen in operating income, and a sustainable return on equity (ROE) of 20% or more by 2029.The company also plans to execute approximately 18 billion yen in additional returns by the end of 2029, targeting a shareholders' equity ratio of around 75%.

TYO:7740

Asia19d ago

Precious Shipping Secures Up to $8 Million Credit Facility

Precious Shipping (BKK:PSL) and its Singapore unit Precious Horizon secured a new credit facility of up to $8.3 million from Export-Import Bank of Thailand.The loan will be used to partially reimburse equity funding deployed for the acquisition of the medium-range tanker M/T Tharinee Naree, according to a Tuesday Thailand Exchange filing.The facility carries an interest rate linked to SOFR plus margin and will be repaid over 16 quarterly instalments with a final balloon payment at maturity.The financing is secured by the vessel and related income streams, it said.

BKK:PSL

Asia19d ago

HCL Technologies Invests in Sarvam Series B Funding Round

HCL Technologies (NSE:HCLTECH, BOM:532281) served as lead strategic investor in the $300 million series B funding round of Sarvam, the Indian sovereign AI company said Monday.The India-listed IT services and technology company invested $150 million in the first close worth $234 million, which attached a $1.5 billion post-money valuation to Sarvam.Bessemer Venture Partners co-led the round, which also saw participation from existing investors Khosla Ventures and Peak XV Partners.Proceeds were earmarked for the continued research funding of Sarvam's next frontier AI model for cybersecurity use-cases, among others.

BOM:532281NSE:HCLTECH

Asia19d ago

CSPC Innovation Pharmaceutical Subsidiary Gets Regulatory Nod for Cancer Drug Trial

CSPC Innovation Pharmaceutical (SHE:300765) unit CSPC Jushi Biopharmaceutical obtained the approval of China's medical products administrator to conduct clinical trials for SYS6041 in combination therapy for ovarian cancer.The potential indications for SYS6041 include solid tumors such as gynecological tumors and lung cancer, according to a Tuesday filing with the Shenzhen bourse.Shares of the pharmaceutical company closed 4% lower Tuesday.

SHE:300765

Asia19d ago

Singapore Shares Remain Upbeat on US-Iran Peace Deal; Global Invacom Crashes 17%

Singapore shares remained upbeat on Tuesday, tracking broader regional gains as investors' sentiment was uplifted by the US and Iran's deal to reopen the Strait of Hormuz.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,075.34 and 5,122.09 throughout the day. It ended the session at 5,116.86, up 39.57 points or 0.8% compared to Monday's close.On the corporate front, shares of Global Invacom (SGX:QS9) plunged nearly 17% with the company targeting to raise up to SG$4.9 million for satellite technology expansion via a renounceable partially-underwritten rights issue of up to 140 million shares at SG$0.035 per share.IX Biopharma (SGX:42C) closed over 8% lower as it unveiled plans to relocate its manufacturing equipment from its facility in Australia to a 503B-licensed plant in Nevada, U.S.Meanwhile, shares of Jardine Matheson (SGX:J36) closed nearly 4% lower as it unveiled a new $500 million share buyback program, slated for conclusion by the end of 2027.

^STISGX:42CSGX:J36SGX:QS9

Asia19d ago

President Capital Management Starts Eternal Precision Mechanics at Buy with NT$500 Price Target

TPE:7795

Asia19d ago

DeNA Sells Go Inc Shares in 36.6 Billion Yen Secondary Offering

DeNA (TYO:2432) sold over 16.1 million shares of Go Inc (TYO:581A) at 2,400 yen apiece through a secondary offering on Tuesday, following Go's Tokyo Stock Exchange Growth Market debut.The sale reduced DeNA's stake in the taxi-hailing app company to 4.99% from 25.75%, with proceeds totalling 36.6 billion yen, according to a Tokyo bourse filing on Tuesday.DeNA expects to record approximately 40.1 billion yen as equity in earnings of affiliates on a consolidated basis, and 35.3 billion yen as gains on share sales on a non-consolidated basis, for the fiscal year ending March 2027.Following this transaction, Go will no longer be accounted for as an equity-method affiliate of DeNA, though the company said its full-year earnings forecast remains unchanged pending further review.

TYO:2432TYO:581A

Asia19d ago

IIFL Starts Gujarat Fluorochemicals at Buy with INR4,385 Price Target

Gujarat Fluorochemicals (BOM:542812, NSE:FLUOROCHEM) has an average rating of overweight and mean price target of 4,061.92 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

BOM:542812NSE:FLUOROCHEM

Asia19d ago

Hanwha Aerospace Increases Stake in Korea Aerospace Industries

Hanwha Aerospace (KRX:012450) approved an additional stake acquisition in Korea Aerospace Industries for up to 500 billion won, according to a Tuesday filing with the Korean Exchange.The deal will raise the company's stake in Korea Aerospace to 9.97%.The on-exchange acquisition is scheduled to take place from June to December 2026.

KRX:012450

Asia19d ago

Top Bright Unit Invests 50 Million Yuan in Wealth Management Products

Top Bright (TPE:8499) unit Long Young Electronic (Kunshan) invested 50 million yuan in wealth management products, according to a Tuesday Taiwan Exchange filing.The products comprise a structured deposit from China CITIC Bank (SHA:601998), and a wealth management product from Bank of Ningbo (SHE:002142).The investment was funded using the company's own capital, it said.

SHA:601998SHE:002142TPE:8499

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