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Cub Elecparts Names CFO of Key Unit

Cub Elecparts (TPE:2231) appointed Liu Wan Hua as chief financial officer of 3S System Technology, a key subsidiary, according to a Wednesday Taiwan Exchange filing.Before the CFO appointment, Liu had been serving as head of Cub Elecparts' accounting and finance division.

TPE:2231

Asia5d ago

Fitch Rates Power Finance's US Dollar Bond BBB-

Fitch Ratings has assigned a BBB- rating to Power Finance's (NSE:PFC, BOM:532810) regulation S senior unsecured US dollar bond, according to a recent release.The notes' rating is equivalent to the India-based company's long-term issuer default rating, being issued under its $8 billion medium-term note program and serving as its direct, unconditional and unsecured obligations.The notes also rank equally at all times with the company's other outstanding unsecured and unsubordinated obligations, Fitch said.Changes in India's sovereign rating would lead to similar actions on that of the company, in turn leading to similar moves for the notes, Fitch said.

BOM:532810NSE:PFC

Asia5d ago

Japanese Shares Extend Selloff, Tracking Wall Street-Led Tech Losses

Japanese shares closed lower for the second straight session after a choppy trading session on Wednesday, tracking the weak trade on Wall Street amid tech losses.The benchmark Nikkei 225 closed lower by 613.41 points or 0.88% at 69,174.97 on Wednesday.Driven by conflicting reports, investors are also cautious of the durability of the peace accord between Iran and the US.Markets are also closely watching the movement of the yen, which is near a 40-year low, for a potential intervention to stabilize the currency.On the corporate side, Toyota Motor (TYO:7203) will slash production outside Japan by about 100,000 units by around February 2027 as the de facto closure of the Strait of Hormuz affects demand overseas, Nikkei Asia reported Wednesday. It also plans to cut electric vehicle production for China.Elsewhere, Marubeni (TYO:8002) has completed its share buyback program after repurchasing a total of 11,766,800 shares, according to a Wednesday filing on the Tokyo Stock Exchange.

Nikkei 225TYO:7203TYO:8002

Asia5d ago

Market Chatter: Zhipu AI Plans Hong Kong Share Sale

Knowledge Atlas Technology (HKG:2513), also known as Zhipu AI, is considering a share sale in Hong Kong next month to raise several billion U.S. dollars, Bloomberg reported Wednesday.The firm's plans are preliminary and could change, the report said, citing people familiar with the matter.Zhipu AI previously disclosed plans to pursue a secondary listing on Shanghai Stock Exchange's Sci-Tech Innovation Board to raise funds to advance its AI models.Zhipu AI did not immediately respond to a request for comment from.(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.)

HKG:2513

Asia5d ago

Sigong Tech Bags KRW8.8 Billion Contract

Sigong Tech (KOSDAQ:A020710) secured an 8.84 billion contract to construct the Korean Pavilion at the 2027 Belgrade Expo, according to a Korean Exchange filing on Wednesday.The contract, signed with the Korea Trade-Investment Promotion Agency (KOTRA), will conclude by Nov. 30, 2027.

KOSDAQ:A020710

Asia5d ago

Daqin Railway Increases Dividend Payout

Daqin Railway (SHA:601006) adjusted its dividend upward to 0.14169 yuan per share from 0.14 yuan, according to a Wednesday filing with the Shanghai bourse.Based on the revised dividend, annual profit distribution for 2025 will be 2.81 billion yuan.

SHA:601006

Asia5d ago

Infroneer Revises Performance-Linked Stock Plan for Directors, Executives

Infroneer (TYO:5076) said that it has revised its performance-linked stock compensation plan for directors and executive officers, according to a Tuesday filing on the Tokyo Stock Exchange.The Japan-based infrastructure services company said that the new expanded plan will include additional eligible companies to strengthen its focus on long-term corporate value and shareholder returns.The compensation committee approved the changes on Tuesday, under which multiple evaluation periods will run concurrently, replacing the three-year lump-sum grant structure.The revised plan aligns shareholder value with executive compensation, ensuring sustainable growth, the filing said.

TYO:5076

Asia5d ago

CMES Robotics Bags KRW1.4 Billion Contract

CMES Robotics (KOSDAQ:475400) secured a 1.40 billion won supply contract to provide an electrode coater insulation thickness measuring instrument to LG Energy Solution Arizona, according to a Korean Exchange filing on Wednesday.The contract is expected to be fulfilled by Aug. 31, 2028.

KOSDAQ:475400

Asia5d ago

Lotus Horizon Swings to Full-Year Loss

Lotus Horizon (HKG:6063) recorded a loss of HK$3.3 million for the year ended March 31, compared with a profit of HK$3.2 million a year prior, according to a Tuesday Hong Kong bourse filing.Shares of the construction engineering services company were up over 8% in Wednesday afternoon trading.Basic loss per share was HK$0.17, whereas the company had seen a basic EPS of HK$0.16 in the previous fiscal year.Revenue slipped 13% to HK$226 million from HK$259.8 million previously, mainly due to slower construction progress of certain key projects.

HKG:6063

Asia5d ago

Equitas Small Finance Bank Grants Stock Options to Eligible Employee

Equitas Small Finance Bank (NSE:EQUITASBNK, BOM:543243) has approved the grant of 300,000 stock options to an eligible employee at an exercise price of 77.08 rupees per share, according to a stock exchange filing.The options will be issued under the company's employee stock option scheme.Shares of the company rose 3% in recent trade.

BOM:543243NSE:EQUITASBNK

Asia5d ago

Tech Mahindra Australian Step-Down Subsidiary Gets Liquidated

Tech Mahindra's (NSE:TECHM, BOM:532755) step-down subsidiary, HCI Group Australia, has been voluntarily liquidated and deregistered with effect from May 27, according to a Tuesday filing to the Indian stock exchanges.The information was received by the Indian technology company on Tuesday.The company's shares were up over 2% in Wednesday.

BOM:532755NSE:TECHM

Asia5d ago

Fu Shek Financial Forecasts Rise in Full-Year Profit; Shares Plunge 13%

Fu Shek Financial (HKG:2263) expects a net profit of HK$10.3 million for the year ended March 31, up from HK$2.9 million a year prior, according to a Tuesday Hong Kong bourse filing.Shares of the financial services provider were down 13% in Wednesday afternoon trading.The company attributed the forecast to a rise in income from commission and brokerage on securities dealing, higher handling and other fees, and interest from margin financing services.

HKG:2263

Asia5d ago

Hanshin Construction Railway Line Project Extended by Two Months

Hanshin Construction's (KRX:004960) contract for the Gwangju Urban Railway Line 2 Phase 1 Section 2 construction project was extended by two months to Aug. 31, according to a Korea Exchange filing on Wednesday.The change was triggered by a contract amendment that exceeded the standard disclosure amount.

KRX:004960

Asia5d ago

Ganfeng Lithium Repays 505.8 Million Yuan in Bonds; Shares Up 6%

Ganfeng Lithium (SHE:002460, HKG:1772) on June 21 fully repaid the principal and interest of its first tranche of science and technology innovation bonds, totaling 505.8 million yuan.The 500-million-yuan 180-day commercial paper was issued in December 2025 with a 2.33% coupon rate, according to a Wednesday filing with the Shenzhen bourse.Shares of the lithium miner rose 6% on the Shanghai bourse and 3% on the Hong Kong bourse.

HKG:1772SHE:002460

Asia5d ago

Australian Shares Inch Up; Tasmea to Acquire Energy Services Provider for Up to AU$75 Million

Australian shares edged higher on Wednesday, even as concern over artificial intelligence-related spending and a potential hawkish direction from the US Federal Reserve sent stocks downwards on Wall Street.The S&P/ASX 200 Index rose 0.24%, or 21.40 points, to close at 8,808.40.Overnight, the S&P 500 fell 1.4%, and the Nasdaq Composite decreased 2.2%. Gold declined for a second day as spot gold fell over 1% to under $4,070 per ounce.Brent crude oil futures fell to around $76 per barrel as more oil tankers moved through the Strait of Hormuz and talks continue between the US and Iran.On the domestic front, Australia's consumer price index rose 4% on year in May, down from the 4.2% rate posted in April, data from the Australian Bureau of Statistics showed. On a monthly basis, the CPI fell 0.1% in seasonally adjusted terms. Trimmed mean annual inflation was 3.6% in the 12 months to May, up from 3.4% in the 12 months to April.Australia's total engineering construction work done rose 7.1% to AU$38.87 billion in the March quarter, seasonally adjusted, up from AU$36.29 billion in the previous quarter, the Australian Bureau of Statistics reported.In company news, Tasmea (ASX:TEA) struck a deal to acquire JPS Group, an integrated services provider to the energy sector, for up to AU$75 million. The deal is anticipated to close on or around Aug. 1. It also affirmed its fiscal 2026 underlying net profit after tax guidance of AU$72.5 million on a standalone basis. The firm's shares reached their all-time peak earlier in the day.Baby Bunting Group (ASX:BBN) now expects fiscal second-half pro forma net profit after tax of between AU$11 million and AU$12 million following softer-than-expected trading conditions through the fourth quarter, below its previously guided range of AU$12.5 million to AU$14.5 million. Its shares fell 10% on close.Lastly, Atlas Arteria (ASX:ALX) said its independent directors are reviewing their response following the extension of IFM Investors' takeover offer after the bidder increased its voting power above 50%.

ASX 200ASX:ALXASX:BBNASX:TEA

Asia5d ago

Hanwha Corp. to Sell KRW287.9 Billion Real Estate to Affiliate

Hanwha Corp. (KRX:000880) will sell real estate to its affiliate, Hanwha Systems (KRX:272210), for 287.9 billion won, according to a Wednesday Korean bourse filing.The disposal involves land and buildings at the Hanwha Future Technology Research Institute.The company is proposing the disposal to improve asset efficiency through the selling off of non-operating assets.

KRX:000880KRX:272210

Asia5d ago

India Ratings Upgrades Aye Finance's Ratings with Stable Outlook

India Ratings and Research upgraded Aye Finance's (NSE:AYE, BOM:544699) long-term debtinstruments' rating to IND A+ from IND A.The rating on commercial papers has been upgraded as well to IND A1+ from IND A1, according to a Wednesday filing.The rating outlook is stable.Shares of the company rose over 1% in recent trade.

BOM:544699NSE:AYE

Asia5d ago

ENN Natural Gas' Cancellation of Subsidiary Buyout Erases Possible Financial Burden, S&P Says

The termination of ENN Natural Gas' (SHA:600803) buyout proposal of ENN Energy Holdings (HKG:2688) eases any possible financial burden, S&P Global Ratings said in a recent release.The cancellation will remove notable new debt obligations or pressure on internal cash reserves, S&P said.The subsidiary will also remain independent with the withdrawal of the buyout, the rating agency said.The plan to acquire the remaining shares of the company's 34.26%-held subsidiary could have led to cash needs of about HK$18.4 billion on top of newly issued shares, Fitch said.The amount represents a marked outflow relative to the company's HK$25 billion in adjusted debt.The company's alternate plan to raise shareholding in the subsidiary will not yield significant financial impact given the 2% limit on yearly shareholding increases, according to Fitch.The subsidiary will retain its governance and operational autonomy from its parent, with narrower risks due to cash flow commingling and higher upstreaming, Fitch said.

HKG:2688SHA:600803

Asia5d ago

PI Industries Converts INR70 Billion Debentures in Subsidiary into Equity

PI Industries (NSE:PIIND, BOM:523642) has approved the conversion of optionally fully convertible debentures (OFCDs) worth 70 billion rupees held in its wholly owned subsidiary PI Health Sciences into 724.6 million equity shares, according to a stock exchange filing on Tuesday.The shares will be issued at a fair value of 73.80 rupees each as part of an internal restructuring of funding within the group.Shares of PI Industries fell nearly 1% in recent trade.

BOM:523642NSE:PIIND

Asia5d ago

TFP Solutions Unit Partners with ACO for AI-Powered Medical Card Platform

TFP Solutions (KLSE:TFP) unit MBP Solutions signed a collaboration agreement with the ASEAN Cooperative Organisation (ACO) to develop and commercialize an AI-powered wellness and medical card program, according to a Wednesday Malaysian bourse filing.The partnership aims to build a digital healthcare ecosystem targeting cooperative members across ASEAN, leveraging ACO's network of about 66.6 million members for regional market access and engagement.The agreement runs for five years and focuses on product development, ecosystem access and joint commercialization of the platform, the filing said.

KLSE:TFP

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Asia5d ago

Australian Shares Inch Up; Tasmea to Acquire Energy Services Provider for Up to AU$75 Million

ASX 200ASX:ALXASX:BBNASX:TEA