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Electronics Mart India Begins Commercial Operations of New Multi-Brand Store in Telangana

Electronics Mart India (NSE:EMIL, BOM:543626) started the commercial operations of a new multi-brand store, named BAJAJ ELECTRONICS, in Asifabad district of Telangana, India, on Monday, according to a same-day filing.

BOM:543626NSE:EMIL

Asia8d ago

Jinan Shengquan Seeks to Raise 2.5 Billion Yuan via Convertible Bond Offering

Jinan Shengquan (SHA:605589) will undertake a convertible bond offering of 2.5 billion yuan.The offering will be issued June 25, with the lottery draw date to follow on June 26, according to a Tuesday filing with the Shanghai bourse.Sinolink Securities and CITIC Securities serve as joint lead underwriters.Shares of the resin manufacturer slid 10% in recent trade.

SHA:605589

Asia8d ago

Satellite Chemical Expect Up to 155% Surge in H1 Profit; Shares Rise 10%

Satellite Chemical (SHE:002648) forecasts its attributable profit to soar 119% to 155% to between 6 billion yuan and 7 billion yuan in the first half from 2.74 billion yuan in the year-ago period, according to a Tuesday filing with the Shenzhen bourse.Earnings per share are seen to rise to between 1.78 yuan and 2.08 yuan from 0.81 yuan a year earlier.The chemical company attributes the foreseen increase to the use of its integrated industrial chain advantages, cost optimization, and stable operation of facilities, among others.Shares surged 10% during afternoon trading on Tuesday.

SHE:002648

Asia8d ago

Topmix Unit Launches Digital Rnovation Platform

Topmix (KLSE:TOPMIX) unit Luma International launched a digital renovation platform, myRuma.The platform combines financing, quality checks, risk coverage, and a network of vetted contractors to make renovation services more structured and easier to manage for homeowners, according to a Tuesday Malaysian bourse filing.It also includes strategic partnerships with RHB Bank (KLSE:RHBBANK) and RHB Islamic Bank.Separately, collaboration with S P Setia's (KLSE:SPSETIA) Setia EcoHill 2 township will provide homeowners access to curated design-and-build professionals.Topmix said the platform, which also introduces Malaysia's first renovation quality manual, the Reno Playbook, will initially roll out in Klang Valley before expanding nationwide.

KLSE:RHBBANKKLSE:SPSETIAKLSE:TOPMIX

Asia8d ago

Yamatane Board Approves Treasury Share Disposal Under Restricted Stock Compensation Plan

Yamatane (TYO:9305) board approved the disposal of 183,119 treasury shares totaling 26.7 million yen under its restricted stock remuneration plan.The shares were allocated to three directors, excluding outside directors, six executive officers and 11 directors of subsidiaries, according to a Tuesday filing on the Tokyo Stock Exchange.The disposal is scheduled for July 10.

TYO:9305

Asia8d ago

Shree Refrigerations Supplies Marine Air-Conditioning Systems for Indian Navy Warships

Shree Refrigerations (BOM:544458) has supplied marine air-conditioning systems for INS Dunagiri and INS Agray, two warships commissioned into the Indian Navy.The systems have undergone type testing and were commissioned for operational onboard use on the vessels, according to a company statement on Monday.

BOM:544458

Asia8d ago

Beijing Huafeng Test & Control Technology Launches 749.5-Million-Yuan Bond Offering

Beijing Huafeng Test & Control Technology (SHA:688200) on Tuesday launched a convertible bond offering of 749.5 million yuan.China International Capital serves as lead underwriter, according to a Tuesday filing with the Shanghai bourse.Shares of the semiconductor manufacturer rose 1% in recent trade.

SHA:688200

Asia8d ago

Yamazen Board Approves Absorption-Type Merger of Unit AtoG1

Yamazen (TYO:8051) said its board approved an absorption-type merger of its subsidiary, AtoG1, to streamline group operations, according to a Tuesday filing with the Tokyo Stock Exchange.The Japan-based machine tools company said that under the absorption-type merger, AtoG1 will be dissolved into the company, and no shares or other consideration will be issued as part of the transaction.The merger agreement will be executed the same day, and the merger is scheduled for Aug. 1.

TYO:8051

Asia8d ago

Runhua Living Service to Acquire Jinan Commercial Property for 40 Million Yuan

Runhua Living Service (HKG:2455) agreed to acquire a commercial property in Jinan for 40 million yuan from a company controlled by non-executive director and controlling shareholder Luan Hangqian, according to a Tuesday Hong Kong bourse filing.The target property comprises a commercial villa unit with a gross floor area of about 2,709 square meters in Huaiyin District, Jinan.Runhua said the acquisition will support the expansion of its property leasing business and help it capture opportunities in Shandong Province, its core market.Shares of the firm were down nearly 3% in Tuesday's midday trade.

HKG:2455

Asia8d ago

Update: Market Chatter: Hong Kong Banks Import Gold Bars Prior to Gold Clearing System Launch

(Updates to add comment from the Hong Kong Government)Hong Kong banks are importing 400-ounce gold bars as the city prepares for the launch of a new gold clearing system in July, Bloomberg reported Monday, citing sources familiar with the matter.At least four banks of the 11 participating in the clearing system are asking traders to transport the bars, which meet the London Good Delivery standard, into the city, the report said.While Asian markets usually use smaller kilobars for trading, the banks are building an inventory of larger bars to facilitate physical delivery once clearing begins, according to the report.In response to a request for comment, Hong Kong's Financial Services and the Treasury Bureau said preparatory work is in its final stage, with trial operations of the clearing system scheduled to begin later this year.(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.)

Hang Seng

Asia8d ago

SG Group Chairman Sells Controlling Stake in Business

SG Group (HKG:1657) said its chairman and chief executive Choi King Ting completed the sale of his 74.91% controlling stake to Hong Kong Weiye Software, according to a Tuesday filing with the Hong Kong bourse.The sale triggered a mandatory takeover offer for the rest of the business and Weiye Software has offered to purchase shares it does not already own for HK$8.323 per share in cash.The firm previously established an independent board committee to advise shareholders on the matter.

HKG:1657

Asia8d ago

ValueMax Group Issues Shares on Exercise of Warrants; Shares Down 2%

ValueMax Group (SGX:T6I) allotted and issued 360 shares on Tuesday pursuant to the exercise of the same number of warrants at SG$0.36 each, according to a same-day filing with the Singapore Exchange.Following the exercise, the company's share capital has increased to about 946.9 million shares, the filing said.Shares were down about 2% in recent trading.

SGX:T6I

Asia8d ago

Top Glove Issues Shares as Employee Incentive

Top Glove (SGX:BVA, KLSE:TOPGLOV) issued 138,600 new ordinary shares worth 0.6130 ringgit apiece, under its employee stock option scheme, according to a Tuesday filing on the Singapore Exchange.The issued shares will be listed on June 24, the filing said.

KLSE:TOPGLOVSGX:BVA

Asia8d ago

Korea Gas Files for Singapore Listing of $700 Million Worth of Bonds

Korea Gas (KRX:036460) filed for the listing of $700 million worth of bonds on the Singapore bourse, according to a filing with the Singapore Exchange on Tuesday.The Korean gas supply company filed for $350 million worth of 4.500% senior unsecured bonds due 2031 and $350 million worth of unsecured floating rate bonds due 2029.The bonds will be listed and quoted on the Bonds Market on June 24, the filing added.

^STIKRX:036460

Asia8d ago

Trek 2000 International to Provide AIRES Platform in Cambodia; Shares Slide 10%

Trek 2000 International (SGX:5AB) secured a $350,000 contract with Cambodian textile manufacturer, Our HS Convenience, to supply, install and commission its AI Renewable Energy Solutions ecosystem, according to a Tuesday filing with the Singapore Exchange.Under the agreement, the company's subsidiary, Trek Technology, will deploy the AIRES platform to provide real-time monitoring, predictive analytics and operational optimization of solar power generation.Shares of the technology company plunged nearly 10% in Tuesday's afternoon trade.

SGX:5AB

Asia8d ago

DL E&C Receives KRW853.3 Billion Tax Notice from Saudi Arabia

DL E&C (KRX:375500) received a notice from the Saudi Arabian tax authority seeking corporate levy of 853.3 billion won, according to a Tuesday filing with the Korean Exchange.The tax notice is related to the company's engineering and procurement services performed in Korea for Saudi clients between 2006 and 2019."Despite the fact that the design and procurement services were performed in Korea, the Saudi tax authority unilaterally deemed that the services were performed through a permanent establishment formed locally in Saudi Arabia," DL E&C said.The South Korean construction firm said it will consider legal means to challenge the tax imposition.

KRX:375500

Asia8d ago

Fameglow Set to Move to HKEX Main Board on June 30; Shares Jump 16%

Fameglow (HKG:8603) said it received approval-in-principle from Hong Kong Exchanges and Clearing for the transfer of its listing from GEM to the Main Board, according to a Monday Hong Kong bourse filing.Shares rose about 16% in recent trading.The medical aesthetics services provider expects trading of its shares on the main board to begin on June 30, with June 29 set as the final trading day on GEM.The company said it had met all applicable requirements for the transfer, except for two conditions related to market capitalization and trading turnover that are expected to be satisfied on the commencement date.Fameglow operates medical aesthetic centers in Hong Kong and Macau under brands including perFACE, 20 Beauty, and 20 Laser, the filing said.

HKG:8603

Asia8d ago

Toku Deploys AI-Powered Platform Across Four European Markets

Toku (SGX:TKU) has deployed its AI-powered customer experience platform, Glovo, across Spain, Italy, Romania and Portugal, according to a Tuesday filing with the Singapore Exchange.Through the expansion, agents in the markets will handle partner conversations via Salesforce.The communications company also plans to expand across 18 more markets through this integration.

SGX:TKU

Asia8d ago

Shanghai Fosun Pharmaceutical Guarantees 249 Million Yuan Loan for Subsidiary

Shanghai Fosun Pharmaceutical (SHA:600196) provided a joint liability guarantee of 248.6 million yuan for wholly-owned subsidiary Fosun Pharma Industry's 84-month loan from China Everbright Bank.The guarantee, effective June 22, falls within the company's 35 billion yuan guarantee limit, according to a Monday filing with the Shenzhen bourse.Shares of the pharmaceutical company rose 1% in recent trade.

SHA:600196

Asia8d ago

China Communications Construction's Registered Capital to Be Trimmed by 137 Million Yuan After Share Buyback

China Communications Construction (HKG:1800, SHA:601800) proposed to decrease its registered capital by 137.3 million yuan after a share buyback, according to a Shanghai bourse filing on Tuesday.The company repurchased 60,857,946 shares through centralized bidding and 76,404,400 restricted shares as part of its restricted stock incentive plan.The registered capital will decline to 16.1 billion shares from 16.3 billion shares.The infrastructure builder's Hong Kong shares fell 2% during the midday trade.

HKG:1800SHA:601800

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