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Correction: Manulife Financial Corp Files for Singapore Listing of SG$500 Million Worth of Bonds

(Corrects throughout to remove reference to Manulife US REIT and add Manulife Financial Corp's ticker)Manulife Financial Corp (HKG:0945) filed for the listing of SG$500 million worth of 2.88% subordinated bonds due 2036 on the Singapore bourse.The bonds will be listed and quoted in the Bonds Market on June 5, according to a filing with the Singapore Exchange on Thursday.

HKG:0945SGX:BTOU

Asia39d ago

BNK Financial Group Subsidiary's Former Employee Sentenced to 35 Years in Embezzlement Case

South Korea's Supreme Court ruled on a 35-year prison sentence for a former employee of BNK Financial Group (KRX:138930) subsidiary Kyongnam Bank, who had been charged with embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.The ruling came after the court dismissed the defendant Lee OO's appeal on May 22, which confirmed the Seoul High Court's decision on Lee's remand, issued on Jan. 22.The former general manager was also ordered to pay an additional fine of 4.98 billion won, according to a Thursday filing with the Korea Exchange.Shares of BNK Financial Group rose nearly 1% at market close.

KRX:138930

Asia39d ago

Indian Equities End Marginally Higher on Thursday Ahead of Central Bank's Policy Decision

Indian benchmark indices finished marginally higher on Thursday after another range-bound session, as investors remained cautious ahead of the central bank's monetary policy announcement.The BSE Sensex rose 13.84 points, or 0.02%, to close at 74,360.01, while the NSE Nifty 50 gained 10.95 points, or 0.1%, to settle at 23,416.55.Trading remained subdued as market participants avoided aggressive positions ahead of the Reserve Bank of India's policy outcome. Weak global cues and elevated crude oil prices also kept sentiment in check.In corporate developments, HFCL (NSE:HFCL, BOM:500183) approved a series of transactions to consolidate its defense and aerospace operations under HFCL Advance Systems. The company plans to invest 892.5 million rupees in the newly formed unit as part of a broader 1.75 billion-rupee funding round and will retain a majority stake upon completion.AstraZeneca Pharma India (NSE:ASTRAZEN, BOM:506820) said its board approved the surrender of its factory license for cancellation, following previously announced plans to exit its manufacturing facility and relinquish its manufacturing license.

^BSENifty 50BOM:500183BOM:506820NSE:ASTRAZENNSE:HFCL

Asia39d ago

Market Chatter: Compal Targets 10% Server Revenue as It Expands AI Push

Compal Electronics (TPE:2324) is targeting a sharp expansion in its AI server business as it works to lift server revenue to 10% by the end of this year, up from about 5% in the first quarter, CNA reported Wednesday, citing the company's General Manager Bernardo Rohde.He said the company sees opportunity in entering the AI server market later than peers, while sharpening its focus on core customer needs and infrastructure demand, according to the report.Compal also aims to reshape its revenue mix, targeting a 50:50 split between PC and non-PC businesses by 2027, compared with about 65% from PCs and 35% from other segments currently. Non-PC operations include servers, communications and healthcare, with growth supported by rising average selling prices and scaling infrastructure demand.The company is also expanding production capacity across Texas, Taiwan and Vietnam, alongside continued hiring in engineering to support AI server and rack-level system development, CNA added.(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.)

TPE:2324

Asia39d ago

Shenzhen Best of Best Holdings Completes Stake Acquisition in Electronic Products Maker

Shenzhen Best of Best Holdings (SHE:001298) completed the acquisition of 100% of Shenzhen Dingruixin Technology for 84.1 million yuan, according to a Thursday filing with the Shenzhen bourse.The newly acquired subsidiary obtained its business license and registration notice from authorities in Shenzhen.Dingruixin manufactures electronic products and components with a focus on new energy vehicles and industrial automation.

SHE:001298

Asia39d ago

China to Cut Gasoline, Diesel Prices on Friday

China will lower retail prices of gasoline by 525 yuan per ton and diesel by 505 yuan per ton, the National Development and Reform Commission said Thursday.The price cut is effective at midnight Friday.

Shanghai Composite^SZSE

Asia39d ago

SoftBant unit PayPay to Acquire 70.2% of T&D Financial Life

PayPay, a unit of SoftBank Group (TYO:9984), has agreed to acquire 70.2% of T&D Financial Life Insurance from T&D Holdings for an 134.3 billion yen, according to Tokyo bourse filings on Thursday.The acquisition aims to add life insurance to PayPay's existing suite of cashless payments, credit cards, banking, and securities services for over 74 million registered users.One Investment Management, an independent asset manager, intends to acquire a separate 14.9% stake in T&D Financial Life through an affiliate.Under a planned shareholders' agreement, PayPay will hold a call option on the remaining 14.9% stake held by T&D Holdings, which will also hold a put option exercisable after three years.The consummation, scheduled for Oct. 1, 2027, is subject to regulatory approvals, an IFRS transition plan at T&D Financial Life, and other conditions precedent.By combining T&D Financial Life's customer base with PayPay's digital platform and embedded insurance expertise, the group aims to create new digital life insurance experiences and provide comprehensive financial services across users' life stages.The impact on SoftBank's consolidated financial results is currently under review.

TYO:9434TYO:9984

Asia39d ago

Anand Rathi Wealth Allots Over 83 Million Bonus Shares

Anand Rathi Wealth (NSE:ANANDRATHI, BOM:543415) allotted over 83 million bonus equity shares to shareholders on record June 3, according to an Indian bourse filing on Thursday.Under the issue, shareholders received one bonus share for every existing equity share held.Following the allotment, the company's paid-up equity share capital doubled to around 166 million shares from 83 million shares, the filing said.

BOM:543415NSE:ANANDRATHI

Asia39d ago

Fitch Affirms Shandong Hi-Speed's Credit Ratings at A-

Shandong Hi-Speed's (HKG:0412) long-term foreign- and local-currency issuer default ratings were affirmed at A- with a stable outlook, according to a Thursday Hong Kong bourse filing.

HKG:0412

Asia39d ago

Guangdong Taienkang Pharmaceutical Directors Approve Capital Increase

Guangdong Taienkang Pharmaceutical (SHE:301263) directors approved the change in the company's registered capital and total share capital.The registered capital rose to 510.6 million yuan from 425.5 million yuan, while the number of shares increased to 510.6 million from 425.5 million, according to a Thursday filing with the Shenzhen bourse.

SHE:301263

Asia39d ago

CSC to Raise Up to SG$9 Million via Digital Commercial Paper

Geotechnical engineering firm CSC (SGX:C06, HKG:0235) is targeting to raise up to SG$9 million through the issuance of commercial paper in digital securities, according to a Thursday filing with the Singapore bourse.The issuance comprises the 10th series of a three-month commercial paper carrying an interest rate of 3.95% and the seventh series of a six-month commercial paper with an interest rate of 4.50%.

HKG:0235SGX:C06

Asia39d ago

LE Tree Names CFO

LE Tree (SGX:E6R) named Tan Kian as the company's chief financial officer, effective June 4, according to a same-day filing with the Singapore Exchange.Tan has previously worked as the CFO of Singapore-listed, Goodwill Entertainment (SGX:GEH), the filing showed.

SGX:E6RSGX:GEH

Asia39d ago

Jiangsu Yuxing Film Technology Director Completes Share sale

Jiangsu Yuxing Film Technology (SHE:300305) director Liu Quan completed his sale of 837,700 shares, or 0.22% of the company's total share capital, through centralized bidding.The shares were sold at prices ranging between 6.55 yuan and 7.00 yuan apiece, according to a Thursday filing with the Shenzhen bourse.Following the reduction, Liu's total holdings decreased to 2.5 million shares, representing 0.67% of the company.Shares of the polyester film manufacturer closed 3% higher Thursday.

SHE:300305

Asia39d ago

China Reinsurance to Pay Final Dividend on Aug. 21

China Reinsurance (HKG:1508) will pay a final dividend of 0.0691 yuan per share for 2025 on Aug. 21, according to a Thursday Hong Kong bourse filing.The dividend will be paid to shareholders of record as of July 8.

HKG:1508

Asia40d ago

PICC to Pay Final Dividend on July 31

People's Insurance Company of China (HKG:1339, SHA:601319) or PICC will pay a final-year dividend on July 31 to shareholders of record on July 9, according to a Thursday Hong Kong bourse filing.The insurer had declared a dividend of 0.145 yuan per share for the year when it announced its full-year results in March.

HKG:1339SHA:601319

Asia40d ago

Singapore's Proposed TLAC Framework May Impact Banks' Support Ratings, Fitch Says

The Singaporean central bank's proposal for a total loss-absorbing capacity (TLAC) framework could impact banks' support ratings, Fitch Ratings said in a Thursday release.The "aa-" government support rating for the country's three major local banks are in line with their viability ratings, serving as a backstop to their AA- issuer default ratings, Fitch said.The rating agency may not consider government support for markets with credible banks resolution and expectations of senior debt being bailed in.With this, the equilibrium between DBS Group Holdings (SGX:D05) and DBS Bank's ratings may shift if Fitch removes government support as a factor.The Monetary Authority of Singapore's propose external TLAC of 14% of risk-weighted assets of local domestic systemically banks is below the 18% minimum for global ones, Fitch said.The central bank also does not push for a TLAC leverage ratio requirement given the smaller size of varied risk profiles of the domestic banks.The proposal will also not force United Overseas Bank (SGX:U11) and Oversea-Chinese Banking (SGX:O39) to issue any additional debt, reflecting the wider flexibility in the proposed ways for banks to meet the TLAC requirement, Fitch said.

^STISGX:D05SGX:O39SGX:U11

Asia40d ago

Hong Lai Huat Buys Back Shares

Hong Lai Huat (SGX:CTO) bought back 500,000 shares worth SG$41,130 on Thursday, according to a same-day filing with the Singapore Exchange.The property developer is authorized to buy back around 48.3 million shares under its existing buyback mandate.

SGX:CTO

Asia40d ago

Innovent Biologics' Application for Gastric Cancer Drug Accepted in China

Innovent Biologics' (HKG:1801) new drug application for arcotatug tavatecan was accepted by China's National Medical Products Administration and granted priority review, according to a Thursday Hong Kong bourse filing.The application was submitted after an international multi-center phase 3 clinical study of the drug reached the primary endpoint after completing the per-protocol first interim analysis.The drug demonstrated excellent efficacy and a tolerable safety profile in the treatment of advanced gastric cancer.

HKG:1801

Asia40d ago

Super-Dragon Engineering Plastics Completes Registration Change

Super-Dragon Engineering Plastics (SHE:301131) completed its industrial and commercial registration change and received a new business license from the Guangzhou Municipal Administration for Market Regulation.The company specializes in engineering plastics, synthetic resins, bio-based materials and high-performance composites, according to a Thursday filing with the Shenzhen bourse.Shares of the industrial supplies company closed 2% lower Thursday.

SHE:301131

Asia40d ago

Hong Fok Repurchases More Shares

Hong Fok (SGX:H30) bought back 198,000 shares in the open market on Thursday for around SG$192,874, according to a same-day after-market filing with the Singapore Exchange.To date, the property investment company has repurchased over 3.6 million shares under its current buyback program.

SGX:H30

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