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Ekansh Concepts CFO Resigns; Successor Named

Ekansh Concepts Ltd (BOM:531364) appointed Neha Beriwala as chief financial officer, effective June 1, according to a Monday filing on BSE.Shares of the company rose nearly 1% in Tuesday's trade.Beriwala will succeed Mahesh Kumar Birla, who resigned from the post effective May 30 citing personal reasons, the filing said.

BOM:531364

Asia45d ago

Shan Xi Hua Yang Group New Energy to Establish Branch for Coal Mine in Shanxi, China

Shan Xi Hua Yang Group New Energy (SHA:600348) plans to establish a branch to develop the Yujiazhuang mine field in Shanxi, China.The mine holds 624 million tons of coal reserves across 73.2 square kilometers, with a designed annual capacity of 5 million tons over a 51-year service life, according to a Tuesday filing with the Shanghai bourse.The new branch will handle permits, construction, production and operations.Shares of the coal producer declined 2% in recent trade.

SHA:600348

Asia45d ago

AXISCADES Technologies to Divest Engineering and Heavy Energy Services Business

Aerospace and technology engineering company AXISCADES Technologies (NSE:AXISCADES, BOM:532395) plans to transfer its engineering and heavy energy services business to digital engineering consulting company Akkodis in a $30.6 million deal, according to a Monday filing to the Indian stock exchanges.The transaction will include an additional performance-based earnout and will be payable in cash over a multi-year period.The move is aimed at helping the company to transition from a services-led organization to a focused aerospace manufacturing and products-led platform.The move is expected to be completed in the third quarter of 2027, subject to applicable regulatory clearances. The funds from the transaction will help the company build its Devanahalli Atmanirbhar Complex, the Missile Atmanirbhar Complex, and its pipeline of strategic acquisitions in higher-margin products and manufacturing capabilities.

BOM:532395NSE:AXISCADES

Asia45d ago

TruCap Finance Interim CFO Resigns; Shares Fall 3%

TruCap Finance (NSE:TRU, BOM:540268) said Interim Chief Financial Officer Vishal Miglani has resigned, effective May 24, according to an Indian bourse filing on Monday.Shares of the company fell nearly 3% in Tuesday's trade.Miglani will continue as senior vice president - business loans, cross sell, collaborations and strategy, the company said.

BOM:540268NSE:TRU

Asia45d ago

Australian Shares Fall; Santos to Target Capital Expenditure Reduction of Around AU$300 Million from 2027 to 2030

Australian shares fell on Tuesday as optimism around a potential deal to end the conflict in the Middle East wavered after fresh US strikes.The S&P/ASX 200 Index declined 0.39%, or 34.20 points, to close at 8,657.80.Brent crude oil futures rose around 2% to trade around $98 per barrel after the US military carried out strikes in Iran against targets including missile launch sites and boats, which the US characterized as defensive in nature.US Secretary of State Marco Rubio said negotiating a deal with Iran could "take a few days."On the domestic front, one in six Australian businesses was experiencing supply chain disruptions in May, with about 72% reporting a negative impact from current fuel prices or availability, according to a business conditions and sentiments report by the Australian Bureau of Statistics (ABS).ABS said 60% of businesses made changes to operations due to fuel prices or availability, with 48% absorbing cost increases and 11% increasing prices. Agriculture, forestry, and fishing recorded the highest proportion of businesses experiencing supply chain disruptions at 42%, followed by retail trade at 31%.Australian consumer confidence fell 0.3 points in the week of May 18 to 24 to 66.1 points, as confidence remains around historical lows since the series started in 1973, ANZ said. The four-week moving average eased 0.4 points to 66 points.In company news, Santos (ASX:STO) is set to prioritize upstream investment in the Moomba Central fields area in South Australia and deprioritize the broader Cooper Basin, targeting cumulative capital expenditure reduction of around AU$300 million from 2027 to 2030, and AU$150 million savings annually thereafter.Goodman Group (ASX:GMG) reported a work-in-progress value of AU$14.5 billion as of March 31, saying it expects the figure to reach around AU$18 billion by June. Data centers represent 73% of the March 31 work in progress. The work in progress is 37% pre-committed.Lastly, Infratil (ASX:IFT, NZE:IFT) swung to a profit of NZ$0.558 per share in fiscal 2026 from a loss of NZ$0.315 a year earlier. Revenue for the 12 months ended March 31 was NZ$3.04 billion, compared with NZ$2.86 billion a year earlier.

ASX 200ASX:GMGASX:IFTASX:STO

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Aurizon Holdings Says Australian Retirement Trust Ceases to Be Substantial Holder

Aurizon Holdings (ASX:AZJ) said Australian Retirement Trust ceased to be a substantial holder of the firm on May 22, according to a Tuesday Australian bourse filing.

ASX:AZJ

Asia45d ago

Urbanise.com Appoints Darc Rasmussen as Executive Chairman, Signs Two New Strata Contracts

Urbanise.com (ASX:UBN) has appointed Darc Rasmussen as executive chairman to "temporarily" expand its executive capability and assist in scaling the organization, according to a Tuesday Australian bourse filing.Rasmussen has agreed to a restructured fee arrangement comprising a reduced base component and a success-based element payable in cash and/or equity, subject to shareholder approval, the filing added.The company said it is executing a search for a chief product officer, in addition to the recent appointment of Adam Vidal as chief commercial officer.Two contracts have been executed this month, converting customers from a major legacy provider to Urbanise's cloud-based platform, with a combined total contract value of about AU$700,000 over three years and further upside if the customers later adopt banking and payments integration, the filing added.The company said it expects continued net operating cash outflows for the remainder of the year as part of the build of the new banking and payments integration, with overall operating cash flow expected to be negative in fiscal year 2026 and a return to positive operating cash flow targeted in fiscal year 2027.

ASX:UBN

Asia45d ago

Mitsubishi Electric, Chiba Tech Team Up to Develop Physical AI

Mitsubishi Electric (TYO:6503) and Chiba Institute of Technology, signed a three-year agreement to collaborate on the development of native physical AI technologies, according to a company release on Tuesday.Under the agreement, the two parties will work together to commercialize AI robotics solutions for both public and private sector applications, the release added.The development pipeline will focus on deploying autonomously controlled machines, including multi-legged walking units, humanoid robots, and drone systems.

TYO:6503

Asia45d ago

Centurion Accommodation REIT Secures Approvals for Workers' Dormitory Expansion

Centurion Accommodation REIT (SGX:8C8U) secured all required approvals, including the Foreign Employees Dormitories Act (FEDA) license to increase the bed capacity of its workers' dormitory in Westlite Mandai, according to a Monday Singapore bourse filing.Shares of the REIT were down nearly 1% in Tuesday trading.With the approvals, the REIT will grant an expansion consideration of SG$34 million to Lian Beng-Centurion (Mandai).In January, the REIT had secured a temporary occupation permit for the construction of an additional block in Westlite Mandai for 9,986 beds.The FEDA license is valid until Sept. 24, 2028, and the REIT will make a new license application closer to the expiration date.

SGX:8C8U

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Market Chatter: FSCC Warns Philippines Financial System Faces Strain Despite Banks' Strong Buffers

The Philippines' financial system is under growing pressure from rising corporate and household debt, as well as ongoing instability in the Middle East, BusinessWorld reported Monday, citing the Financial Stability Coordination Council (FSCC).Financial Stability Coordination Council said geopolitical tensions could lift oil prices, weaken markets, and tighten financial conditions, slowing economic growth if the conflict continues. The banking sector still has strong buffers but is facing rising risks, the report said.The council warned that companies in energy- and interest-sensitive sectors could struggle with higher debt costs and thinner profits, which may affect bank asset quality. It also flagged possible losses from higher bond yields, though it said the system remains stable overall, the news outlet 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.)

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PhosCo Reports Metallurgical Results Show Commercial Grade Phosphate at Tunisia Phosphate Project

PhosCo (ASX:PHO) said first pass metallurgical test work results for the KM prospect within its Gasaat phosphate project in Tunisia show that a simple, single-stage flotation circuit produces commercial grade phosphate of up to 31.4% phosphorus pentoxide, according to a Tuesday Australian bourse filing.The company said the results mean three silica flotation steps can be eliminated, reducing technical risk, process complexity, and capital and operating costs.The company said saline Gasaat bore water can be used with minimal or zero cleaning, while concentrate grade is correlated to reagent dosage, opening the possibility of customizing reagent application to match concentrate specifications.The company's shares rose 1% in recent Tuesday trade.

ASX:PHO

Asia45d ago

BSP Financial Group Investigating Unauthorized Third-Party Access to Back Office Test Environment

BSP Financial Group (ASX:BFL) identified unauthorized third-party access to its back-office non-customer-facing test environment for various systems, and it is working with external cybersecurity experts to respond to and investigate the incident, according to a Tuesday Australian bourse filing.It completed the testing of customer-facing services in the production environment and found no residual threats. It does not believe there is any ongoing risk beyond the test environment.Upon detecting the incident, the firm took containment action as a precautionary measure, disabling externally facing internet services, which affected a number of its services. This included significant disruption to internet banking across the group, excluding Fiji, and agency banking in Papua New Guinea.

ASX:BFL

Asia45d ago

Market Chatter: Indonesia Drafts Rules to Broaden Oil Importers, Opens Path for Russian Supply

Indonesia is drafting new rules that would expand the number of entities allowed to import crude oil, including state-linked agencies, with a framework that could allow Russian purchases despite Western sanctions, Jakarta Globe reported Monday, citing a senior energy ministry official.Director General of Oil and Gas, Laode Sulaeman, said state oil firm Pertamina currently manages crude imports but direct purchases from Russia are complicated by its exposure to global capital markets and bond covenants. He added that authorities are working on a new import framework to ensure any transactions comply with Pertamina's international financing obligations, the report said.The proposal follows a crude supply agreement reached with Moscow after President Prabowo Subianto's visit to Russia, with Indonesia reportedly planning phased purchases of around 150 million barrels through year-end, the news outlet 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.)

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Asia45d ago

Emerging Towns & Cities Singapore Converts $13 Million Loan into Shares; Shares Surge 23%

Emerging Towns & Cities Singapore (SGX:1C0) decided to convert an outstanding loan of $13.0 million into shares at a conversion price of SG$0.09 per share at maturity, according to a Monday bourse filing.Shares of the real estate firm zoomed nearly 23% in Tuesday trading.The loan was converted into 204,887,011 shares, which were issued to Luo Shandong, the lender.The amount was initially granted to the company by Luo back in January 2017.Following the conversion, the company's share capital has increased to 2.16 billion shares.

SGX:1C0

Asia45d ago

Rex International Issues Nearly 1.9 Million Shares to CEO as Part of Compensation Deal

Rex International (SGX:5WH) completed the issuance of nearly 1.9 million shares as part of the company's chief executive officer's remuneration package, according to a Tuesday filing with the Singapore Exchange.The new shares are expected to be listed and quoted on the main board on May 29, the oil and gas company said.

SGX:5WH

Asia45d ago

Singapore Shipping's Attributable Profit Zooms 85% in Fiscal H2

Singapore Shipping's (SGX:S19) attributable profit to owners during fiscal second half ended March 31 jumped by 85% to $6.8 million from $3.7 million a year earlier, according to a Monday bourse filing.Shares of the owner and manager of ships were down nearly 2% in Tuesday trading.Earnings per share came in at $0.017 compared with $0.009 in the year-ago period.Revenue climbed 8.3% year over year to $25.2 million from $23.3 million.The company declared a final dividend of SG$0.01 per share, unchanged from the prior period.

SGX:S19

Asia45d ago

Hotgen Biotech Plans Up to 100-Million-Yuan Share Buyback

Beijing Hotgen Biotech (SHA:688068) plans to repurchase between 50 million yuan and 100 million yuan of its shares via centralized bidding.The shares will be bought back for up to 166 yuan per share during the three-month buyback period, according to a Tuesday filing with the Shanghai bourse.Shares of the biotechnology company were down 2% in recent trade.

SHA:688068

Asia45d ago

Metis TechBio Refutes Media Report on CSRC Supplemental Inquiry

Metis TechBio (HKG:7666) denied a media report alleging that China's securities regulator had issued supplemental information requests to the company, according to a Tuesday Hong Kong bourse filing.The AI-driven nanotechnology company said the report was "factually inaccurate and misleading."Metis TechBio said it received the China Securities Regulatory Commission's filing notice for its Hong Kong listing and H-share full circulation on March 17 and has not received any request from the regulator for supplemental information since then.

HKG:7666

Asia45d ago

Oppstar Secures MIDA-backed ARM Access Token for AI Chip Design Project; Shares Rally 10%

Oppstar (KLSE:OPPSTAR) wholly-owned subsidiary, Oppstar Technology, has executed an access token agreement with the Malaysian Investment Development Authority (MIDA), according to a Monday bourse filing.The agreement formalizes the company's access to ARM Limited's Flexible Access (AFA) Token - Entry Tier under a strategic government-linked cooperation program.Shares jumped over 10% in recent trade.The arrangement grants Oppstar access to advanced ARM architecture and software design tools to support front-end engineering research, including development tied to an AI-focused system-on-chip initiative.The deal has a term of one year, it said.

KLSE:OPPSTAR

Asia45d ago

Pasupati Acrylon Approves Ethanol Capacity Expansion at Uttar Pradesh Plant; Shares Jump 7%

Pasupati Acrylon (NSE:PASUPTAC, BOM:500456) said its board has approved expansion of ethanol manufacturing capacity at its Thakurdwara plant in Uttar Pradesh, India, to 240 kiloliters per day from 180 kiloliters per day, according to a Monday filing on Indian bourses.Shares of the company jumped over 7% in Tuesday's trade.The capacity enhancement will be carried out through debottlenecking of the existing facility, the company said.The expansion is expected to be completed by December 2026 with an investment of about 250 million Indian rupees, the filing said. The investment will be funded through internal accruals, it added.

BOM:500456NSE:PASUPTAC

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Asia45d ago

Australian Shares Fall; Santos to Target Capital Expenditure Reduction of Around AU$300 Million from 2027 to 2030

ASX 200ASX:GMGASX:IFTASX:STO