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QAF's Gardenia Foods to Move Singapore Bakery Production to Malaysia, Lays Off 141 Employees

QAF's (SGX:Q01) unit, Gardenia Foods (S), confirmed its plans to relocate its bakery production from Singapore to Johor Bahru, Malaysia, according to a Wednesday bourse filing.Pursuant to the relocation, 141 employees at its manufacturing facility in Pandan Loop will be retrenched and will receive support in line with Singapore's labor laws, the filing said. Production at this facility will cease on June 30.The decision to move operations is part of the food company's efforts to improve operational efficiency and remain competitive.

SGX:Q01

Asia52d ago

Skyechip Surges on Bursa Malaysia's Main Market Debut

Skyechip (KLSE:SKYECHIP) debuted on Bursa Malaysia's Main Market on Wednesday at 3.50 ringgit, well above its 0.88 ringgit IPO price, reflecting strong demand for the stock.The semiconductor company is listed under the technology sector with the stock name SKYECHIP and stock code 5357, according to a Bursa Malaysia filing.SkyeChip has an enlarged issued share capital of 1.796 billion shares. Following the listing, its issued share capital stands at 405.5 million ringgit.

KLSE:SKYECHIP

Asia52d ago

Barton Gold Identifies Gold Mineralization at South Australia Gold Project

Barton Gold Holdings (ASX:BGD) said it identified gold mineralization from recent drilling at its Challenger Gold Project in South Australia, according to a Wednesday Australian bourse filing.The results were up to 8 meters at 1.7 grams per tonne gold from 55 meters, including 1 meter at 7.6 grams per tonne gold from 57 meters.The company said the new assays confirm Challenger South-Southwest and Challenger 3 mineralization and support a potential new JORC 2012-compliant mineral resource estimate (MRE) for Challenger 3.A definitive feasibility study is underway targeting a viable, simplified Stage 1 operation to underwrite the restart of the Challenger Gold Mine and maximize development optionality across Challenger, Tarcoola, Wudinna, and Tolmer, the filing added.The company's shares fell nearly 2% in recent Wednesday trade.

ASX:BGD

Asia52d ago

China, US to Hold Formal AI Governance Dialogue

China and the U.S. agreed to conduct a formal dialogue to improve the governance of artificial intelligence, a Foreign Ministry spokesperson said in a Tuesday press conference.Spokesperson Guo Jiakun said U.S. President Donald Trump and Chinese Xi Jinping had "constructive exchanges on AI issues" during Trump's visit to Beijing last week."As two major AI powers, China and the United States should work together to promote the development and governance of AI, and to better enable AI to serve the progress of human civilization and the common well-being of the international community," Guo said.On his return to the U.S., Trump told reporters last week that he and Xi discussed the possibility of developing "guard rails" for AI, according to a Tuesday report on the South China Morning Post.

Shanghai Composite^SZSE

Asia52d ago

Alibaba Introduces New AI Chip for Training and Inference Workloads

Alibaba (HKG:9988) unveiled the Zhenwu M890 AI processor, which the company said delivers three times the performance of its predecessor and supports workloads ranging from model training to inference, according to a Wednesday press release.At its cloud summit, the Chinese technology giant also introduced Qwen 3.7-Max, a large language model built for multi-step agentic workloads.Alibaba also launched the Panjiu AL128 Supernode Server, which is designed to handle high-frequency AI inference requests.T-Head, Alibaba's chip unit, has shipped more than 560,000 Zhenwu chips to over 400 customers across 20 industries, including automakers and financial services companies, the company said.

HKG:9988

Asia52d ago

Geopacific Resources Reports AU$1.78 Billion Pre-Tax NPV for Papua New Guinea Project; Shares Up 4%

Geopacific Resources (ASX:GPR) said its definitive feasibility study (DFS) for its 2-million-ounce Woodlark Gold Project in Papua New Guinea has returned a pre-tax net present value (NPV) of AU$1.78 billion, according to a Wednesday Australian bourse filing.The company reported a post-tax NPV of AU$1.3 billion at a gold price of AU$5,500 per ounce.The company said the pre-tax internal rate of return (IRR) is about 59% and post-tax IRR is nearly 51%, with a post-tax payback period of about 18 months from first production, undiscounted life-of-mine revenue of AU$6.1 billion, and post-tax net cashflow of AU$2.5 billion.Life-of-mine all-in sustaining costs are AU$1,966 per ounce, with total pre-production capital of AU$534.6 million, including a contingency allowance of AU$56.9 million and AU$39.8 million of mining pre-strip, the filing added.Based on the DFS results, the company will now engage with financing partners and assess a range of funding solutions, it added.The company's shares rose past 4% in recent Wednesday trade.

ASX:GPR

Asia52d ago

Emperador Reports 4.5% Net Attributable Profit Growth in Q1

Emperador (SGX:EMI) net profit to equity holders grew 4.5% during the first quarter of the year, compared to a year earlier, according to a Wednesday filing with the Singapore Exchange.Net profit also rose to 1.9 billion pesos, despite the current geopolitical situation.The global liquor company reported an increase in revenue of 13.3 billion Philippine pesos during the first quarter of the year.Meanwhile, brandy and whisky sales posted a 6% year-over-year increase, thanks to sustained demand and steady contributions across all regions.

SGX:EMI

Asia52d ago

Market Chatter: Bessent Says G7 Targets China Over Export Surge

U.S. Treasury Secretary Scott Bessent said Group of Seven finance leaders focused heavily on China's export-driven trade imbalance during recent talks, citing the global impact of Beijing's manufacturing push, Reuters reported Tuesday.Bessent warned that Chinese exports, including electric vehicles, could hurt Western economies without stronger trade barriers, according to the report.(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.)

Shanghai Composite^SZSE

Asia52d ago

Medi Lifestyle Secures Loan from Controlling Shareholder

Medi Lifestyle (SGX:Z4D) signed a loan agreement with controlling shareholder, Chua Yi Hang, for a non-interest bearing loan of up to SG$480,000, according to a Wednesday filing with the Singapore Exchange.The loan comprises the previously advanced SG$200,000 and a balance sum of SG$280,000.Chua currently has a 25.06% stake in the company.Under the agreement, Chua will have the right and option to make changes to the board during the loan's one-year term.Proceeds from the loan will be used for general working capital needs and for corporate activities.

SGX:Z4D

Asia52d ago

Turaco Gold's Pre-Feasibility Study for Ivory Coast Gold Project to Mark Transition to Emerging Gold Developer, Euroz Hartleys Says

Turaco Gold's (ASX:TCG) pre-feasibility study for its Afema gold project in Ivory Coast that is nearing completion and targeted for release in the June quarter will mark the company's transition from a high-growth exploration play to an emerging gold developer, Euroz Hartleys said in a note on Wednesday.The study is expected to highlight its potential as a tier‐1 standalone gold operation.The project appears well-positioned to support a strong reserve for the study, with a maiden reserve of over 2 million ounces considered achievable, leading to scope for production exceeding 200,000 ounces per year and average all-in sustaining costs of around $1,470 per ounce, Euroz Hartleys said. An initial 10-year mine life was modeled.The investment firm maintained its speculative buy recommendation and raised the price target to AU$1.85 from AU$1.60.Turaco Gold's shares fell 5% in recent Wednesday trade.

ASX:TCG

Asia52d ago

Market Chatter: India Poised to Send Oil Tankers to Secure Energy Supply Through Hormuz

India is said to be getting ready to send ships through the Strait of Hormuz to pick up energy suppliers in the Middle East, according to a Bloomberg report on Wednesday quoting sources.This will be the first time the Asian nation has done so since the start of the Iranian crisis, the report said.The sources said plans for the shipments are ready, and ships will begin trying to cross the strait as soon as the government approves. The volumes involved or the timing of the shipments were not disclosed.State-owned Shipping Corp. of India (NSE:SCI, BOM:523598) is prepared to return to the Persian Gulf after receiving approval from the Indian Navy and receiving business from oil refiners, the report said.The report further added that it was not clear if India had a go-ahead for the shipments from Iran or the U.S., which are separately blockading the strait and surrounding waters amid the war.(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.)

^BSENifty 50BOM:523598NSE:SCI

Asia52d ago

Hong Leong Asia Unit to Establish Employee Equity Incentive Plan

Hong Leong Asia's (SGX:H22) subsidiary, Guangxi Yuchai Intelligent Manufacturing Technology, launched an employee equity incentive scheme, according to a Tuesday filing with the Singapore Exchange.Shares of the cement manufacturer were down over 2% in Wednesday's trading.Yuchai was established with a registered capital of 20 million yuan, of which 92% of the capital will be paid by Guangxi Yuchai Machinery.The remaining amount of the registered capital of around 1.6 million yuan will be contributed by the scheme participants.Guangxi Yuchai Machinery is 76.41% owned by the company's 48.70% New York-listed subsidiary, China Yuchai International.The scheme aims to incentivize employees for sustained performance.

SGX:H22

Asia52d ago

Hisense Subscribes to Wealth Management Products for 1.81 Billion Yuan

Hisense Home Appliances (HKG:0921, SHE:000921), along with two of its subsidiaries, subscribed for multiple wealth management products for 1.81 billion yuan, according to a Tuesday filing on the Hong Kong bourse.The Chinese appliances maker's Shenzhen shares rose by less than 1% during Wednesday's midday trade.Hisense and its subsidiaries, Hisense Air Conditioning and Guangdong Hisense Refrigerator Marketing, agreed to subscribe for the products with Chongqing International Trust between July 1, 2025 and May 19 this year.

HKG:0921SHE:000921

Asia52d ago

Powertech Technology Buys Machinery System for NT$629 Million; Shares Gain 4%

Powertech Technology (TPE:6239) purchased a fan-out automated material handling system for NT$628.5 million, according to a Tuesday Taiwan Exchange filing.Shares slid about 4% in Wednesday's late morning trade.The acquisition was made between Aug. 19, 2025, and May 19, 2026, from MIRLE Automation.The deal will support the company's production operations, it said.

TPE:6239

Asia52d ago

Kanghong Pharmaceutical's Unit Gets Nod to Trial KH812 Injection

Chengdu Kanghong Pharmaceutical's (SHE:002773) unit, Chengdu Kanghong Biotechnology, received approval from China's National Medical Products Administration for the clinical trial of KH812 injection, according to a Shenzhen bourse filing on Wednesday.The drug will be tested as a treatment for neovascular (wet) age-related macular degeneration.

SHE:002773

Asia52d ago

GenusPlus Group's 'Transformational' Acquisition of MPC Kinetic is Highly Accretive, Euroz Hartleys Says

GenusPlus Group's (ASX:GNP) deal to acquire energy and resource services firm MPC Kinetic is "hugely accretive" and will allow the company to essentially double its earnings, Euroz Hartleys said in a Wednesday note.The investment firm estimates that the "transformational" acquisition, which carries a price tag of up to AU$400 million, could be accretive by more than 50% in 2027."The acquisition rational, beyond the attractive maths, is to add gas gathering and well maintenance services as an adjunct to the Genus Plus distribution business," Euroz Hartleys said, adding that the deal will give GenusPlus a diversity of services that are consistent with its strategy.The equity research firm maintained a buy recommendation on GenusPlus while raising its target price to AU$13.56 from AU$9.15.GenusPlus Group's shares gained 1% in recent Wednesday trade and earlier hit a record high.

ASX:GNP

Asia52d ago

Hunan Gold's Subsidiary Resumes Production at Antimony Mine

Hunan Gold's (SHE:002155) subsidiary, Hunan Anhua Zhazixi Mining, will resume production on Wednesday at its antimony mine, according to a same-day Shenzhen bourse filing.Anhua Zhazixi Mining temporarily stopped production in April after a workplace incident that caused the death of an employee.Anhua Zhazixi underwent rectification and safety improvements during the suspension.The temporary closure is expected to trim the gold mining company's net profit by about 35 million yuan.

SHE:002155

Asia52d ago

Hybio Pharmaceutical Signs Peptide API Supply Deal

Hybio Pharmaceutical (SHE:300199) signed a framework agreement for the sale of peptide active pharmaceutical ingredients with an undisclosed counterparty.The agreement covers certain markets in the Americas, with a minimum sales value of 327 million yuan, according to a Wednesday filing with the Shenzhen bourse.Shares of the pharmaceutical company were down 1% in recent trade.

SHE:300199

Asia52d ago

Marimaca's Drilling Results Show Mineralization At Chile Copper Deposit Appears Laterally Continuous Across High-Grade Area, Euroz Hartleys Says

Marimaca Copper's (ASX:MC2) latest drilling results continued to show that mineralization at the Pampa Medina copper prospect in Chile is not limited to isolated high-grade zones, but appears laterally continuous across the central high-grade area, Euroz Hartleys said in a note on Wednesday.Step-out drilling results from the Pampa Medina prospect reinforce the scale potential and continuity of the system. This demonstrates potential for Pampa Medina to develop into a large-scale, vertically extensive system.The combination of broad mineralized widths, higher-grade internal zones, and silver credits continues to support the potential for future bulk mining and a low-cost operation.At a copper price of around $5.80 per pound, the Marimaca oxide deposit would generate life-of-mine average earnings before interest, taxes, depreciation, and amortization of over $450 million per annum.The investment firm maintained its speculative buy recommendation on Marimaca Copper with a AU$16.94 per share price target.

ASX:MC2

Asia52d ago

Market Chatter: Australian Banks' May Reporting Season 'Underwhelming,' Operating Conditions Shifting Rapidly, Morgan Stanley Says

Australian banks' reporting season in May was "underwhelming" and they faced a rapid and material shift in operating conditions, according to Morgan Stanley analysts Richard Wiles and Sally Hong, the Australian Financial Review reported Wednesday.Morgan Stanley downgraded fiscal 2027 cash earnings-per-share estimates by 4% since March as revenue growth slows, credit demand weakens, and loan losses gradually rise, reversing an upgrade in February.Three hikes in the official cash rate, proposed changes to property-related tax measures in Australia's federal budget, as well as the impact of the global energy shock all contribute to the uncertainty in outlook for banks, per Morgan Stanley.The investment firm preferred ANZ Group Holdings (ASX:ANZ, NZE:ANZ) over Westpac Banking (ASX:WBC, NZE:WBC), National Australia Bank (ASX:NAB), and Commonwealth Bank of Australia (ASX:CBA).(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.)

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC

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