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MAS Financial Services Raises INR3.60 Billion Through Debenture Allotment

MAS Financial Services (NSE:MASFIN, BOM:540749) has raised 3.60 billion Indian rupees through the allotment of non-convertible debentures on a private placement basis to Nederlandse FinancieringsMaatschappij voor Ontwikkelingslanden, according to a Wednesday filing to the Indian stock exchanges.The company allotted 36,000 senior, secured, rated, listed, redeemable, transferable, non-convertible debentures denominated in Indian rupees having a face value of 100,000 rupees each.The debentures are scheduled to mature on May 20, 2031.The company's shares were down over 1% in recent trade.

BOM:540749NSE:MASFIN

Asia50d ago

Market Chatter: GoTo Gojek Shows Support for New Ride Commission Regulation, Refines Business Strategy

GoTo Gojek Tokopedia (IDX:GOTO) is fully on board with the government's new rules increasing the revenue share of driver partners at ride-hailing firms to 92% and will make changes to its business model, The Jakarta Globe reported Tuesday.The firm emphasized its commitment to the welfare of its driver partners despite the regulation slashing the company's revenue from motorcycle ride-hailing services, GoTo's CEO Hans Patuwo said at a press conference.Under the new regulation, firms like GoTo will be mandated to receive a maximum 8% share from total ride fares.To better align with the new rules and keep business operations functioning smoothly, the firm's ride-hailing unit Gojek will terminate its GoRide Hemat subscription program, the news outlet reported.An internal review found that the program needed better balance to boost sustainability alongside driver welfare, 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.)

IDX:GOTO

Asia50d ago

China to Issue Up to 6 Billion Yuan in Green Renminbi Bonds in Hong Kong

China is looking to raise up to 6 billion yuan in green sovereign bonds in Hong Kong starting on the week of May 25, the Finance Ministry said Wednesday.The ministry will issue specifics on the renminbi-denominated issuance prior to the launch.

Hang SengShanghai Composite^SZSE

Asia50d ago

HealthCare Global Enterprises Posts Lower Fiscal Q4 Consolidated Profit

HealthCare Global Enterprises (NSE:HCG, BOM:539787) recorded a decline in its consolidated attributable profit to 21.7 million Indian rupees in the fiscal fourth quarter ended March 31 from 73.6 million rupees a year ago.Earnings per share contracted to 0.15 rupees from the year-ago figure of 0.52 rupees, according to a Tuesday filing to the Indian stock exchanges by the hospital chain operator.Revenue from operations in fiscal Q4 rose to 6.50 billion rupees from 5.83 billion rupees a year earlier.Shares of the company rose over 1% in recent trade.

BOM:539787NSE:HCG

Asia50d ago

Chinese Shares Largely Flat With Downward Bias as Central Bank Keeps Rates Steady

Chinese shares were flat with a downward bias as the country's central bank kept rates steady.The Shanghai Composite Index, the main gauge of Chinese stocks, ticked down 0.2% to 4,162.18. The Shenzhen Component Index barely changed to 15,569.98 from 15,569.91.The People's Bank of China left benchmark rates unchanged in May for the 12th straight month, in line with forecasts. The one-year loan prime rate remained at 3%, while the five-year LPR stayed at 3.5%.Meanwhile, the meeting between Chinese President Xi Jinping and Russian leader Vladimir Putin could substantially raise Russia's energy exports to China. The Kremlin expects both leaders to hold "serious" and "very detailed" discussions on the long-delayed Power of Siberia 2 gas pipeline.The pipeline is set to carry 50 billion cubic meters to China from Russian gas fields that once served Europe.Also, Putin has invited Xi to visit Russia in 2027, saying that the ties between their two countries are at "an unprecedented level."In company news, Hybio Pharmaceutical (SHE:300199) signed a framework agreement for the sale of peptide active pharmaceutical ingredients with an undisclosed counterparty. Shares of the pharmaceutical company were down 2% Wednesday.

Shanghai Composite^SZSESHE:300199

Asia50d ago

TSMC Divestment Has No Credit Profile Impact on Vanguard International Semiconductor, S&P Says

Vanguard International Semiconductor (TPE:5347) will not observe any credit profile impact even if Taiwan Semiconductor Manufacturing (TSMC) (TPE:5425) divests part of its shareholding in the company, S&P Global Ratings said in a recent release.TSMC looks to dispose of up to 152 million common shares in the specialty IC foundry service provider, or about 8.1% of the latter's fully diluted paid-in capital, S&P said.As a result, TSMC's Vanguard share will drop to about 19% from 27.1% currently.TSMC's technology support for Vanguard will not change despite the divestment, S&P said.The technical support covers intellectual properties and technologies for the company's starting operations at the new 12-inch IC foundry in Singapore, the licensing of specialist technology, or the outsourcing of interposer production, the rating agency said.S&P does not expect a shift in the business relationship between the two companies, including TSMC's lack of operational control over Vanguard.

TPE:5347TPE:5425

Asia50d ago

K&R Rail Engineering Appoints CFO

K&R Rail Engineering (BOM:514360) has appointed Mulam Veeranjaneyulu as chief financial officer effective May 20, according to a same-day filing with the BSE.Veeranjaneyulu has over 20 years of experience in finance and accounts.The company's shares were down nearly 2% in recent trade.

BOM:514360

Asia50d ago

BLS International Services Posts Gains in Fiscal Q4 Consolidated Net Profit, Revenue; Shares Jump 5%

BLS International Services (NSE:BLS, BOM:540073) recorded a rise in its consolidated attributable net profit to 1.78 billion Indian rupees in the fiscal fourth quarter, against 1.35 billion rupees a year ago, according to an Indian bourse filing on Tuesday.Shares of the online visa application services provider jumped nearly 5% in Wednesday's trade.Earnings per share in the quarter ended March 31 climbed to 4.31 rupees compared with 3.28 rupees a year earlier.Income from operations in fiscal Q4 increased year on year to 8.15 billion rupees from 6.93 billion rupees.The company declared a final dividend of 0.50 rupees per share for the financial year ended March 31.

BOM:540073NSE:BLS

Asia50d ago

Luoxin Pharma's Unit Fined 1.9 Million Yuan for Substandard Drug; Shares Up 3%

Luoxin Pharmaceuticals Group's (SHE:002793) unit, Shandong Luoxin Pharmaceutical Group, was ordered to pay a fine of 1.9 million yuan for selling a substandard drug, according to a Shenzhen bourse filing on Wednesday.The batch of azithromycin for injection produced in May 2024 was found to have failed to meet pharmacopoeia standards due to storage conditions exceeding required standards.The pharmaceutical company recalled the batch after the order.Luoxin's shares rose 3% during the afternoon trade.

SHE:002793

Asia50d ago

North Chemical Industries Flags Potential Shift in Ownership After Notification from Controlling Shareholder

North Chemical Industries (SHE:002246) disclosed a potential shift in its ownership after its controlling shareholder, China North Industries Group, received a notification from the State-owned Assets Supervision and Administration Commission of the State Council, according to a Shenzhen bourse filing on Wednesday.The Chinese chemical company's shares rose 1% during the afternoon trade.

SHE:002246

Asia50d ago

Careplus Prices Private Placement Shares; Shares Drop 6%

Careplus Group (KLSE:CAREPLS) fixed the issue price for the second tranche of the private placement shares at 0.076 ringgit apiece, according to a Tuesday Malaysian bourse filing.Shares dropped over 6% in Wednesday's midday trade.The company proposed a private placement of up to 10% of its total shares to third-party investors.

KLSE:CAREPLS

Asia50d ago

China Baoan Unit to Invest 10 Million Yuan in Venture Capital Fund

China Baoan (SHE:000009) subsidiary BTR New Material will invest 10 million yuan for a 12.5% stake in an 80 million yuan venture capital fund.Shenzhen Guangming Kerui Venture Capital Fund will focus on emerging industries, including new materials, new energy, and high-end equipment, according to a Wednesday filing with the Shenzhen bourse.

SHE:000009

Asia50d ago

ZIM Laboratories' Consolidated Profit Declines in Fiscal Q4; Shares Slide 4%

ZIM Laboratories (NSE:ZIMLAB, BOM:541400) consolidated profit attributable to the owners dropped to 37.4 million Indian rupees in the fiscal fourth quarter from 48.8 million rupees a year ago, according to an Indian bourse filing on Tuesday.Shares of the company fell over 4% in Wednesday's trade.Earnings per share for the quarter ended March 31 contracted to 0.76 rupees from 1.01 rupees a year earlier.The pharmaceutical company's revenue from operations also slipped year on year to 1.05 billion rupees from 1.09 billion rupees, the filing said.

BOM:541400NSE:ZIMLAB

Asia50d ago

Trident Posts Lower Profit, Revenue in Fiscal Q4

Trident's (NSE:TRIDENT, BOM:521064) consolidated attributable net profit dropped to 1.02 billion Indian rupees in the fiscal fourth quarter from 1.33 billion rupees a year ago, according to an Indian bourse filing on Tuesday.Shares of the textile manufacturer fell over 1% in Wednesday's trade.Earnings per share for the quarter ended March 31 slipped to 0.20 rupees from 0.25 rupees a year earlier.Revenue from operations in fiscal Q4 declined to 16.3 billion rupees from 18.6 billion rupees, the filing said.

BOM:521064NSE:TRIDENT

Asia50d ago

Berun Chemical Starts Trial Production at Carbon Recovery Project; Shares Down 3%

Inner Mongolia Berun Chemical (SHE:000683) started trial production at a 1.2 million-ton-per-year sodium bicarbonate carbon recovery project.The facility captures carbon dioxide and alkali mother liquor from the Alxa Tamusu natural alkali project, using wind and solar power.The second phase soda ash capacity of 2.8 million tons has reached design levels, while the second phase sodium bicarbonate capacity of 400,000 tons has begun trial runs.Shares of the alkali chemical manufacturer were down 3% in recent trade.

SHE:000683

Asia50d ago

Yifan Motor to Buy Majority Stake in Beijing's HollySys for 84 Million Yuan

Jiangnan Yifan Motor (SHE:301023) plans to acquire 40% of Beijing HollySys Electric Drive Technology for 84 million yuan, according to a Shenzhen bourse filing on Wednesday.HollySys manufactures mechatronic and automation system equipment.As part of the deal, the HollySys brand will be removed after the completion of the transaction.The Chinese professional motor producer's shares slipped by less than 2% during the afternoon trade.

SHE:301023

Asia50d ago

Jefferies Adjusts AWL Agri Business's Price Target to INR260 from INR340, Keeps at Buy

BOM:543458NSE:AWL

Asia50d ago

Jefferies Adjusts Alibaba Health Information Technology's Price Target to HK$5.30 from HK$6, Keeps at Buy

Alibaba Health Information Technology (HKG:0241) has an average rating of overweight and mean price target of HK$5.39, 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://finwires.com/en/contact)

HKG:0241

Asia50d ago

Nomura Adjusts Astra International's Price Target to IDR7,000 from IDR5,700, Keeps at Buy

Astra International (IDX:ASII) has an average rating of overweight and mean price target of 7,030.83 rupiah, 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://finwires.com/en/contact)

IDX:ASII

Asia50d ago

Japanese Shares Extend Losses to Close Lower on Wednesday On Weak Global Sentiment

Japanese equities closed in the red after a weak trading session on Wednesday, tracking the negative sentiment in the global markets over concerns about rising inflation, extended a selloff in U.S. government bonds, and pushed yields to multi-year highs.The Nikkei 225 closed down 795.20 points or 1.3%, at 59,755.39.According to media reports, on Tuesday, yields on the 30-year Treasuries hit levels last seen in 2007, as investors are spooked that energy costs may lead to the US Federal Reserve hiking interest rates.To boost the domestic economy, the Japanese government is poised to issue guidelines encouraging startups to see acquisitions as a viable alternative to IPOs, according to a Nikkei Asia report on Wednesday.Also, sentiment among Japanese factory managers improved slightly in May, driven by a recovery in commodity-linked industries from a contraction the previous month caused by the Iran war.However, weakness in the automotive sector and several other industries prevented a stronger rebound, according to the Reuters Tankan poll.On the corporate side, Daiwa Securities Group (TYO:8601) closed down over 1%, after the news that it is acquiring a 10% voting interest in Ireland-based aircraft lessor Airborne Capital by buying common shares from existing shareholders, subscribing for subordinated notes, and obtaining warrants that could allow it to increase its interest to 20%.Also, TDK (TYO:6762)'s shares closed lower by 1%, after its subsidiary Amperex Technology (Singapore) agreed to acquire a 100% stake in Malaysia's Linergy Power for $241.1 million.

Nikkei 225TYO:6762TYO:8601

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