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China Everbright Bank Secures Financial Regulator's Nod for Vice President's Appointment

China Everbright Bank (HKG:6818, SHA:601818) received the National Financial Regulatory Administration's approval for the appointment of Yang Wenhua as the bank's vice president and chief compliance officer, according to a Shanghai bourse filing on Saturday.Yang's appointment was effective June 2.

HKG:6818SHA:601818

Asia36d ago

China Environmental Tech Lender Agrees to Hold-off Winding Up Petition

China Environmental Technology (HKG:0646) said Sure Fast appeared amenable to temporarily foregoing a winding-up petition against the company while both parties negotiate a settlement, according to a Sunday filing with the Hong Kong bourse.Sure Fast previously served the company with a statutory demand seeking $14 million in connection with an earlier debt offering and threatened to file a winding-up petition if payment was not made within 21 days.The firm said it began settlement discussions with Sure Fast on the condition that the lender refrain from taking any action related to the statutory demand and give the company time to negotiate.China Environmental said Sure Fast was willing to hold off on filing a winding-up petition for 30 days after the company files a consent summons to withdraw its appeal related to the debt offering.

HKG:0646

Asia36d ago

JustCo's CEO Acquires 500,000 Company Shares; Shares Down 6%

JustCo's (SGX:JCO) chief executive officer, Kong Wan Sing, bought 500,000 company shares on June 3 and June 4 for about SG$339,144, according to a Saturday filing with the Singapore Exchange.Shares of the co-living workspaces provider dropped over 6% in Monday trading.Following the acquisition, Sing now has an 18.50% stake in the company.

SGX:JCO

Asia36d ago

Hyundai Engineering Wins KRW3 Trillion Seoul Construction Project

Hyundai Engineering & Construction (KRX:000720) secured the Wirye New Town Bokjeong station area mixed-use development construction project in Seoul worth 3.04 trillion won, according to a Monday filing on the Korean Stock Exchange.Construction is expected to end by Jan. 14, 2031.Shares of the company plunged 10% in recent trade.

KRX:000720

Asia36d ago

Fitch Upgrades Shanghai Electric Power to A-; Shares Down 5%

Fitch Ratings upgraded Shanghai Electric Power's (SHA:600021) long-term foreign-currency issuer default rating and senior unsecured rating to A- from BBB+, with a stable outlook.The move followed the rating agency's IDR upgrade of the company's 57.24% parent, State Power Investment.Shanghai Electric Power is rated one notch down from State Power Investment under the "strong parent, weak subsidiary" approach in Fitch's parent and subsidiary linkage rating criteria.Shares of the power company were down 5% in recent trade.

SHA:600021

Asia36d ago

Shenwan Hongyuan Issues 4 Billion Yuan Bonds

Shenwan Hongyuan (SHE:000166, HKG:6806), through subsidiary Shenwan Hongyuan Securities, issued two tranches of bonds amounting to 4 billion yuan on May 27, according to a Shenzhen bourse filing on Saturday.The securities firm's Hong Kong shares slipped 1% during Monday's morning trade.The first tranche was worth 1 billion yuan, has a coupon rate of 1.54% and a term of 17 months.The second tranche amounted to 3 billion yuan, has a coupon rate of 1.60% and a term of 25 months.

HKG:6806SHE:000166

Asia36d ago

Asiaphos to Buy 51% Stake in Australian Data Center; Shares Zoom 13%

Asiaphos (SGX:5WV) signed a non-binding term sheet to acquire a 51% controlling stake in DC Alliance, which owns a Tier III certified data center in Western Australia for AU$7.7 million, according to a Monday filing with the Singapore Exchange.The data center, which has the potential for an additional 6MW of IT load capacity, is operated by DC's subsidiary, Pier DC.The acquisition will depend on satisfactory due diligence and successful fundraising, along with shareholder approval.The term sheet also grants AsiaPhos a five-year right of first refusal for any future funding rounds by DC Alliance founder Roy Wong involving AI or robotics-related businesses.Shares of the phosphate mining and clean energy company surged nearly 13% in Monday trading.

SGX:5WV

Asia36d ago

Far East Horizon Says Bonds Due June 15 Fully Converted Into Shares

Far East Horizon (HKG:3360) said all outstanding bonds under its $250 million zero-coupon convertible bonds due June 15 issued in 2021 through unit Universe Trek have been fully converted into ordinary shares of the company, according to a Friday Hong Kong bourse filing.As a result, no bonds under that debt series remain outstanding.The bonds will cease to be listed on the Hong Kong Exchange after the close of business on June 15, the filing said.

HKG:3360

Asia36d ago

Samudera Shipping Confirms Sinking of Chartered Vessel; No Casualties Reported

A container vessel chartered by Samudera Shipping Line Ltd (SGX:S56) deployed on its Singapore-Pasir Gudang service route has sunk while en route, the company said in a filing to the Singapore bourse on Sunday.The vessel, Golden Star 1, sank on June 5. However, all crew members were safely evacuated, with no casualties, the company said, adding that a replacement vessel is being arranged to maintain service continuity.The company said it does not foresee any significant impact on the business and financials of the group, as the vessel is owned and managed by a third-party shipowner.Samudera's liabilities in relation to the incident is expected to be substantially covered by the charterers' liability insurance and owners' protection and indemnity insurance.The company's shares were down nearly 1% in recent trade.

SGX:S56

Asia36d ago

Huscoke Holdings Objection Application Accepted in Court

Huscoke Holdings (HKG:0704) said a Chinese court accepted its objection to an enforcement action involving coke capacity quotas, according to a Monday filing with the Hong Kong bourse.The company objected to an earlier enforcement ruling by the Jinan intermediate court to seize all coke production capacity quotas linked to certain coking furnaces owned by Shanxi Jinyan Energy Technology.In its application, Huscoke said the ruling may impact two coking furnaces that were acquired from Energy Technology in 2023 and argued against their inclusion in the enforcement action.The firm said it would closely monitor developments related to the filing.Huscoke shares have remained suspended from trading since March 30.

HKG:0704

Asia36d ago

Goodwill Entertainment Buys Karaoke Supplier for SG$4 Million

Goodwill Entertainment Holding (SGX:GEH) agreed to acquire 100% of entertainment technology company Funtech Solutions for SG$4 million, according to a Monday bourse filing.Funtech is an authorized reseller in Singapore for one of the biggest karaoke equipment manufacturers in China and supplies commercial karaoke in the city-state. Currently, it has an active court case involving a contractual dispute with a supplier over renovation works.Due to the ongoing litigation, a deferred cash consideration of SG$350,000 will be paid by Goodwill to the vendors upon resolution of the case. However, the amount will lapse if the case remains unresolved after 12 months.Goodwill said the acquisition will help reduce its reliance on third-party vendors for events and add new revenue streams.

SGX:GEH

Asia36d ago

Market Chatter: HKMA Implements Mainland Client Account Guidelines for Banks

The Hong Kong Monetary Authority said banks have implemented guidelines similar to new regulatory requirements imposed on brokers for managing accounts held by mainland Chinese customers, Bloomberg News reported.The measures are intended to ensure the account-opening process remains compliant and orderly, according to the report, adding that applications from mainland customers continue to be processed smoothly.The move comes as Beijing steps up efforts to curb illicit cross-border capital flows and tighten oversight of overseas financial activities by mainland residents, the 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.)

Hang Seng

Asia36d ago

MTQ's Group CEO Steps Down

MTQ's (SGX:M05) group chief executive officer, Asif Salim Vorajee, stepped down from the role, effective Monday, June 8, according to a same-day filing with the Singapore Exchange.Vorajee has stepped down for personal reasons, having served as the group's CEO from July 1, 2024.

SGX:M05

Asia36d ago

Addvalue Technologies Secures New Orders Worth Over $5 Million

Addvalue Technologies (SGX:A31) received new orders worth around $5.1 million under its space connectivity business, according to a Monday filing with the Singapore Exchange.The orders came from three clients for multiple Inter-Satellite Data Relay System (IDRS) terminals to support upcoming Earth observation and in-orbit service missions, the filing said.Following the award of the new contracts, the group's order book now stands at $23.4 million as of June 8.

SGX:A31

Asia36d ago

Blackstone, CPPIB-Backed AirTrunk to Invest INR3 Trillion in India's AI and Cloud Markets by 2030

Blackstone and Canada Pension Plan Investment Board-backed data center operator AirTrunk plans to invest 3 trillion Indian rupees, or $30 billion, by 2030 in India to boost the country's digital infrastructure capacity, AirTrunk said in a Friday release.The proposed data center pipeline across several Indian states and union territories aims to support the South Asian country's goal to become a global hub for AI and cloud infrastructure while leading economic growth, employment, and technological development, the release said.

^BSENifty 50

Asia36d ago

China Tungsten and Hightech Materials Appoints Chair; Shares Down 4%

China Tungsten and Hightech Materials (SHE:000657) appointed Shen Huiming as chair, succeeding Li Zhongze, who resigned due to a work transfer, according to a weekend filing with the Shenzhen bourse.Shares of the non-ferrous products manufacturer declined 4% in recent trade.

SHE:000657

Asia36d ago

Gemini Investments Secures Over HK$17 Million Capital Boost via Share Subscription

Gemini Investments (HKG:0174) entered into a conditional subscription agreement with Novel Champion Global to raise about HK$17.2 million, according to a Sunday filing with the Hong Kong bourse.The firm agreed to sell 95.3 million shares to the subscriber at HK$0.18 apiece to raise money for capital expenditure.The shares to be sold represent 15% of the company's issued share capital and 13.04% as enlarged by the sale.

HKG:0174

Asia36d ago

Samsung Heavy Secures KRW386 Billion LNG Order

Samsung Heavy Industries (KRX:010140) secured an order for a liquefied natural gas carrier from an Oceania-based shipper.The deal is valued at 385.5 billion won. The shipbuilder will deliver the vessels by Jan. 8, 2029, according to a Monday filing with the Korean Exchange.Shares of Samsung Heavy Industries fell over 5% in recent trade.

KRX:010140

Asia36d ago

India Defends INR29 Increase in LPG Prices

The Ministry of Petroleum & Natural Gas has defended a recent 29-Indian-rupee increase in domestic liquefied petroleum gas (LPG) prices, saying Indian households still pay among the lowest cooking gas rates globally.The defense came after opposition parties criticized the price hike, which went into effect Sunday.The cost of a standard 14.2-kg LPG cylinder in Delhi has risen to 942 rupees from 913 rupees following the latest price hike.This marks the second major hike since the Middle East conflict began in February, following a 60-rupee increase on March 7.LPG cylinders are mainly sold by oil marketing companies, including Indian Oil Corporation (NSE:IOC, BOM:530965), Hindustan Petroleum Corporation (NSE:HINDPETRO, BOM:500104), and Bharat Petroleum Corporation (NSE:BPCL, BOM:500547).

^BSENifty 50BOM:500104BOM:500547BOM:530965NSE:BPCLNSE:HINDPETRONSE:IOC

Asia36d ago

Lum Chang Creations Delays Share Placement; Shares Down 4%

Lum Chang Creations (SGX:LCC) has decided to delay its planned share placement, a prerequisite for the transfer of its shares to the Mainboard of the Singapore Exchange Securities Trading, driven by market volatility, according to a Monday bourse filing.The interior fit-out services company had earlier proposed placing new shares to meet SGX's minimum spread requirements, along with bonus shares for existing shareholders.While the company secured shareholder approval for the transfer, unfavorable market conditions prompted the decision.Shares of the company were down over 4% in Monday trading.

SGX:LCC

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