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Fonterra Co-operative Group Raises Fiscal 2026/27 Farmgate Milk Price Forecast

Fonterra Co-operative Group (NZE:FCG) revised its forecast farmgate milk price midpoint for the 2026/27 season to NZ$9.50 per kilogram of milk solids from NZ$9.25 per kilogram, reflecting recent improvements in global dairy commodity prices while retaining a prudent approach to the season ahead, according to a Monday New Zealand bourse filing.The company said the forecast range has been lifted and narrowed to NZ$8.50 to NZ$10.50 per kilogram of milk solids from NZ$8.00 to NZ$10.50 per kilogram, the filing added.The company's New Zealand shares rose 1% in recent Monday trade.

NZE:FCG

Asia4d ago

Fitch Affirms Xiaomi at 'BBB+' with Stable Outlook Despite Smartphone Weakness

Fitch Ratings has affirmed Xiaomi's (HKG:1810) long-term issuer default rating and senior unsecured rating at BBB+ with a stable outlook.It also assigned the same rating on notes issued by its wholly-owned subsidiary Xiaomi Best Time International, according to a commentary released Friday.Fitch said Xiaomi's credit profile will remain resilient this year, even as rising memory costs weaken its core smartphone business by reducing shipments and profitability.Stronger cash generation from Xiaomi's IoT and internet services segments-along with its diversified portfolio, global market position, large net cash position, and low EBITDA leverage-should buffer the smartphone downturn, Fitch added.Fitch said Xiaomi is expected to maintain healthy free cash flow and a large net cash position, further supported by 39 billion yuan in equity proceeds raised in March, to fund EV and AI investments and share buybacks.

HKG:1810

Asia4d ago

GrainCorp's Report Shifts East Coast Australia Outlook to Solidly Above-10-Year Average Outcome, Jefferies Says

GrainCorp's (ASX:GNC) September report effectively shifted the East Coast Australia outlook from a below-trend crop in June to a solidly above-10-year average outcome, Jefferies said in a Friday note.The East Coast winter crop forecast increased to 26.6 million tonnes in September from 23.8 million tonnes in June.The better East Coast Australia grain output comes at a time of increasing global grain tightness, particularly out of Europe and the Black Sea. The firm noted new export opportunities following recent strengthening of global grain prices.The brokerage upwardly revised its fiscal 2026 to fiscal 2028 earnings per share forecast by 18% to 23%.The investment firm maintained its buy recommendation on GrainCorp with a price target of AU$7.50 per share.

ASX:GNC

Asia4d ago

Dexus Says CFO to Step Down

Dexus (ASX:DXS) said Keir Barnes will step down as its Chief Financial Officer to pursue another opportunity, according to a Monday ASX filing.Keir will remain active in her role until mid-December, supported by Kerri Leech, the firm's deputy CFO.

ASX:DXS

Asia4d ago

ASX Preview: Australian Shares to Fall; Perpetual Rejects Further Revised Takeover Proposal From EQT

Australian shares are poised to fall on Monday as oil prices rose after the Houthis in Yemen struck Saudi Arabia's capital of Riyadh.Brent crude futures ⁠climbed nearly 1% to around $104 per barrel.On Sept. 18, the S&P 500 and the Nasdaq Composite rose 0.2% and 0.4, respectively, while the Dow Jones Industrial Average fell 0.2%.Inflation is seen as too high across all sectors of the US economy, the Minneapolis Federal Reserve President Neel Kashkari said over the weekend.In corporate news, Perpetual (ASX:PPT) confirmed the conclusion of the engagement process with EQT after rejecting a further revised proposal from Windflower, an entity indirectly controlled by EQT, to acquire all of the shares in the company through a scheme of arrangement for AU$22.50 apiece.Ingenia Communities Group (ASX:INA) again rejected a takeover approach from Warburg Pincus, adding that the private equity firm's revised offer at AU$5.05 per security still "substantially undervalues" the company. Warburg Pincus said it continues to believe its proposal represents a superior and compelling all-cash alternative to the Peet transaction for Ingenia securityholders and remains open to engagement with the Ingenia board.Australia's benchmark index was flat to close at 8,731.20 on Sept. 18.

ASX 200ASX:INAASX:PPT

Asia4d ago

Perpetual Limited Rejects Further Revised Takeover Proposal From EQT

Perpetual Limited (ASX:PPT) confirmed the conclusion of the engagement process with EQT after rejecting a further revised proposal from Windflower, an entity indirectly controlled by EQT, to acquire all of the shares in the company through a scheme of arrangement for AU$22.50 apiece, according to a Monday filing with the Australian bourse.Under the revised proposal, the board may declare and pay a dividend for the half-year period to Dec. 31 of up to AU$0.60 per share without any adjustment to the AU$22.50 scheme consideration, the filing said.The board also said that the scheme consideration is the same price offered by EQT in its earlier proposal that it determined was not in the best interests of shareholders, per the filing.

ASX:PPT

Asia4d ago

Warburg Pincus Says It Remains Open to Engagement After Ingenia Rejects Sweetened Proposal

Warburg Pincus said it is "disappointed" by Ingenia Communities' (ASX:INA) decision not to engage on its "materially" improved proposal to acquire the company, submitted on Sept. 14, following an initial proposal on Aug. 30, according to a statement in response to anrequest for comment.The firm said it continues to believe its proposal represents a superior and compelling all-cash alternative to the Peet transaction for Ingenia securityholders and remains open to engagement with the Ingenia board.Ingenia Communities said in a Monday bourse filing that the new non-binding indicative proposal, which raised the per-security offer to AU$5.05 from the AU$4.75 per security it rejected on Sept. 7, is not in the best interest of its securityholders.

ASX:INA

Asia4d ago

Orezone Gold's Canada Operation Life-of-Mine Plan Highlights Stronger Production Potential, Lower Operating Costs, Euroz Hartleys Says

Orezone Gold's (ASX:ORE) life-of-mine plan for the Casa Berardi operation in Canada highlights stronger production potential and lower operating costs than previously forecast, Euroz Hartleys said in a Friday note.The plan forecasts a 14-year mine life until 2040 and total gold production of 1.63 million ounces, with average production of 116,000 ounces per annum at an all-in sustaining cost of $1,877 per ounce over the mine life. Production could increase to an average of 132,000 ounces per year at $1,776 per ounce all-in sustaining cost during 2030 to 2038 as underground mining rates ramp up.The updated plan validates the acquisition of the operation, delivering an after-tax net present value at a 5% discount rate of $1.05 billion versus maximum acquisition consideration of US$593m,before factoring in exploration or operational upside. The brokerage's latest Casa Berardi net present value at a 10% discount rate valuation is around AU$1.12 billion, up from AU$968 million earlier.The investment firm maintained its speculative buy recommendation and increased its price target on Orezone to AU$4.55 per share from AU$4.25 per share.

ASX:ORE

Asia4d ago

Insurance Australia Group Says Credit Suisse Settlement Not Finalized, Disputing Media Report

Insurance Australia Group (ASX:IAG) said a settlement of the proceedings brought by Credit Suisse entities against Insurance Australia Limited has not been finalized, responding to an Australian Financial Review article published on Sept. 21 that reported the parties had reached a settlement, according to a Monday Australian bourse filing.The company said it does not comment on confidential discussions between parties to litigation, with the proceedings relating to trade credit insurance policies purportedly issued by BCC Trade Credit.IAG said its position remains that any settlement of the Credit Suisse proceedings is not expected to have a material impact on its financial position or fiscal 2027 results, based on anticipated recoveries including from insurance and reinsurance arrangements and other indemnities.

ASX:IAG

Asia4d ago

DPM Metals Hits New High-Grade Intercepts from Bulgaria Gold-Copper Discovery Delineation Drilling

DPM Metals (ASX:DPM) said delineation drilling at the Brevene Porphyry South gold-copper discovery, located in its Brevene exploration license in Bulgaria, hit new high-grade intercepts, according to a Monday statement.One of the drill holes returned 716.60 meters grading 3.30 grams per tonne grade of gold-equivalent, including 1.63 g/t grade of gold, 1.58% grade of copper, and 17.09 g/t grade of molybdenum, from 1,357 meters downhole, as well as 328 meters grading 3.28 g/t grade of gold-equivalent, comprising of 1.97 g/t grade of gold, 1.24% grade of copper, and 4.82 g/t grade of molybdenum from 1,176 meters.The drilling confirmed a large potassic alteration envelope of over 500 meters by 500 meters and more than 1,000 meters in vertical extent. The system remains open to the north, south, west, and at depth, where it is interpreted to plunge southwest.

ASX:DPM

Asia4d ago

Netwealth Says Units Receive Letter Regarding Potential Class Action Lawsuit Concerning First Guardian Investment Options

Netwealth Group (ASX:NWL) said its units, Netwealth Investments and Netwealth Superannuation Services, received a letter from solicitors acting for a proposed representative plaintiff together with draft court documents alleging breaches of duties in connection with the offering and monitoring of certain First Guardian investment options available through the Netwealth Superannuation Master Fund, according to a Monday Australian bourse filing.No proceedings have yet been filed, and Netwealth is reviewing the proposed claim.

ASX:NWL

Asia4d ago

Ingenia Communities' Board Rejects Warburg Pincus' New Nonbinding Bid

Ingenia Communities Group (ASX:INA) again rejected a takeover approach from Warburg Pincus, adding that the private equity firm's revised offer still "substantially undervalues" the company.The Australian property group said in a Monday bourse filing that the new nonbinding indicative proposal, which raised the per-security offer to AU$5.05 from the AU$4.75 per security it rejected Sept. 7, is not in the best interest of its securityholders.The Ingenia board added that it reviewed the sweetened bid with its independent adviser and that it remains open to other proposals.

ASX:INA

Asia4d ago

New Zealand's Labour Party Outlines Plan to Boost Grocery Market; Woolworths Notes New Policy Proposals

New Zealand's Labour Party plans to force "immediate action" to increase competition in the country's grocery market, including required changes affecting Woolworths Group (ASX:WOW) and Foodstuffs.In its "fairer grocery prices" plan unveiled Sunday ahead of New Zealand's general election on Nov. 7, the party said the two companies hold over 80% of the country's grocery sector and that they will be required to independently run their wholesale supply businesses and retail stores to support smaller shops and independent supermarkets."We note the policy proposals on supermarkets that have been announced recently," a Woolworths spokesperson toldon Monday. "We have worked constructively with the Government and the Commerce Commission for a number of years to implement significant, structural changes across our business to support greater competition. ... We remain committed to a competitive and sustainable grocery sector in New Zealand."

^NZ50ASX:WOW

Asia4d ago

Forrestania Resources, Zenith Minerals Secure Approval to Extend Offer Period Anew

The offer period for the merger deal between Zenith Minerals (ASX:ZNC) and Forrestania Resources (ASX:FRS) will end Oct. 21.The extension is the ninth since the deal was disclosed in June and was cleared by the Australian Securities & Investments Commission, according to a Sept. 18 bourse filing in Australia.

ASX:FRSASX:ZNC

Asia4d ago

Carnaby Resources Sets Scheme Meeting for Evolution Mining Deal

Evolution Mining (ASX:EVN) and Carnaby Resources (ASX:CNB) are a step closer to closing a deal after an Australian court approved plans for a shareholders' meeting and booklet distribution for their scheme of arrangement.The Supreme Court of Western Australia on Sept. 18, according to a same-day bourse filing, directed Carnaby to convene the scheme meeting, which it scheduled for Oct. 26. The scheme booklet, meanwhile, is expected to be released on Monday.Pending other approvals, Evolution's acquisition of the Australian exploration and development company is expected to become effective Oct. 30.

ASX:CNBASX:EVN

Asia6d ago

Newlink Technology's Potential Acquisition of HK Ant Global Investment Falls Through

Newlink Technology (HKG:9600) terminated a memorandum of intent for the potential acquisition of HK Ant Global Investment.The parties had entered the memorandum in May, a Friday bourse filing showed.

HKG:9600

Asia6d ago

New Concepts Raises HK$4.9 Million from Share Issue

New Concepts Holdings (HKG:2221) completed the issue of 5 million new shares to Du Lei to raise net proceeds of nearly HK$4.9 million.The parties had entered into the share subscription agreement earlier in September, a Friday bourse filing showed.The construction company plans to use proceeds for general working capital.

HKG:2221

Asia6d ago

Eternity Investment Unit, Director Dispose Of Stake in China Healthwise

Eternity Investment (HKG:0764) unit Eternity Finance and executive director Lei Hong Wai agreed to sell around 169 million and 18.7 million respective shares in China Healthwise (HKG:0348).The shares, representing an 18.3% and 2% stake in China Healthwise, respectively, were sold to Hwa Sheng International Investment at HK$0.08 apiece, a Friday bourse filing showed.The company will receive a consideration of around HK$13.5 million from the disposal and cease to hold any stake in China Healthwise following completion.Proceeds will be used to repay a margin loan, as well as for general working capital.

HKG:0348HKG:0764

Asia6d ago

Update: Nestlé India Faces Legal Action Over Substandard Baby Food, Promotional Non-Compliance

(updates with Nestle's comments)Nestlé India (NSE:NESTLEIND, BOM:500790) is facing legal action initiated by The Food Safety and Standards Authority of India (FSSAI) after its baby food was found to be substandard, said in a social media post Friday.A lab analysis of Nestlé India's Follow-up Formula was found "substandard with respect to Biotin content."The regulator also said infant nutrition products NAN Excella Pro Stage 1 and Lactogen Pro 1 were found in breach of a regulation restricting promotional materials with the aim of boosting the saleability of infant foods.In a statement to, Nestlé said it adheres to all regulations including all norms and label declarations as per applicable laws."Our products are fully compliant with all the applicable regulations. The said products (i.e., NAN EXCELLA PRO & LACTOGEN PRO) and their labels were approved by the expert committee of FSSAI," according to the statement. "In response to the notice, we have again submitted our detailed response to the authorities regarding statements appearing on the label, which are factual in nature, and supported by scientific literature."

BOM:500790NSE:NESTLEIND

Asia6d ago

CISI Fin Unit Sells $20 Million Notes

China Industrial Securities International Financial Group (HKG:6058) unit CISI Investment sold notes with an aggregate principal amount of $20.2 million for about $20.1 million.The 4.3% notes issued by Joy Treasure Assets Holdings and maturing in December 2028 were sold on the open market between June 15 and Sept. 17, according to a Friday Hong Kong bourse filing.The company plans to use the proceeds for general working capital and new investment opportunities.

HKG:6058

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