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Singapore Shares Close Lower Amid Regional Decline; AJJ Medtech Down 17%

Singapore shares incurred losses on Friday, closing in the red zone, amid broader regional declines, weighed down by investor sentiment.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,975.14 and 5,003.18 throughout the day. It ended the session at 4,989.08, down 6.86 points or 0.1% compared to Thursday's close.On the corporate front, shares of AJJ Medtech (SGX:584) crashed nearly 17% at the close as its attributable loss to equity holders widened to SG$563,000 in the first quarter from SG$234,000 a year earlier.Marco Polo Marine (SGX:5LY) shares closed nearly 4% higher as the company agreed with Fuji Offset Plates Manufacturing (SGX:508) for a reverse takeover transaction involving the company's subsidiaries, Marco Polo Shipyard and MP Marine.Meanwhile, Aspial Lifestyle (SGX:5UF) outlined plans to raise around SG$84.8 million in gross proceeds via an equity fund raising.

^STISGX:584SGX:5LYSGX:5UF

Asia55d ago

Apple Flavor & Fragrance CFO Retires

Apple Flavor & Fragrance (SHA:603020) said Feng Linxia has retired from her roles as deputy general manager and chief financial officer.Chairman Wei Zhonghao will serve as acting CFO until a permanent successor is appointed, according to a Friday filing with the Shanghai bourse.Shares of the flavors and fragrances producer closed 1% higher Friday.

SHA:603020

Research55d ago

Citigroup Upgrades C.H. Robinson Worldwide to Buy From Neutral, Price Target is $199

C.H. Robinson Worldwide (CHRW) has an average rating of overweight and mean price target of $199.39, 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)

$CHRW

Asia55d ago

Keppel Signs 25-Year Subsea Fiber Deal with Telstra on Bifrost Cable System

Keppel (SGX:BN4) signed a 25-year Indefeasible Right of Use (IRU) agreement with Telstra International for a fiber pair on the Bifrost Cable System, according to a Friday filing with the Singapore Exchange.This follows the signing of a binding term sheet between the two companies in January this year, the filing said.Under the agreement, Telstra will secure an exclusive fiber pair on the Bifrost Cable System, a subsea cable system directly linking Singapore to the west coast of USA via Indonesia through the Java Sea and Celebes Sea.The Bifrost system supports AI workloads and cloud-native platforms and offers a round-trip latency of nearly 165 milliseconds.Keppel's investment in the Bifrost fiber pairs was carried out through a 40-60 joint venture with private fund co-investors. The JV vehicle currently owns and manages five distinct fiber pairs within the transpacific network.The company is now in talks with potential customers on the remaining high-bandwidth pairs, with contracts expected to be signed during the first half of the year.

SGX:BN4

Asia55d ago

Bambino Agro Industries' Profit Slumps in Fiscal Q4

Bambino Agro Industries' (BOM:519295) profit declined to 4.1 million rupees in the fiscal fourth quarter ended March 31 from 10.4 million rupees a year ago.Earnings per share contracted to 0.52 rupees from 1.30 rupees a year earlier, the packaged foods manufacturer said in a filing to the BSE on Friday.Revenue from operations in fiscal Q4 increased to 986.1 million rupees from 923.4 million rupees a year ago.The company's shares were up over 1% in recent trade.

BOM:519295

Research55d ago

Loop Capital Initiates Vertiv Holdings at Buy With $500 Price Target

Vertiv Holdings (VRT) has an average rating of overweight and mean price target of $372.83, 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)

$VRT

Asia55d ago

CapitalOnline Data Service Subsidiary Sells Server Equipment for 110 Million Yuan

CapitalOnline Data Service's (SHE:300846)subsidiary, Gansu Shouyun Intelligent Computing Technology, sold a batch of server equipment for 110.1 million yuan, according to a Shenzhen bourse filing on Friday.The buyer is an unnamed customer who cannot be named due to confidentiality.The internet data company's shares fell by less than 2% at the close.

SHE:300846

Research55d ago

JMorgan Downgrades A. O. Smith to Underweight From Neutral, Adjusts PT to $60 From $65

A. O. Smith (AOS) has an average rating of hold and mean price target of $71.30, 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)

$AOS

Research55d ago

JPMorgan Downgrades Allegion to Neutral From Overweight, Adjusts PT to $150 From $170

Allegion (ALLE) has an average rating of overweight and mean price target of $167.36, 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)

$ALLE

Research55d ago

Raymond James Upgrades Arista Networks to Outperform From Market Perform, Price Target is $164

Arista Networks (ANET) has an average rating of buy and mean price target of $188.18, 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)

$ANET

Research55d ago

HSBC Upgrades Cisco Systems to Buy From Hold, Adjusts Price Target to $137 From $77

Cisco Systems (CSCO) has an average rating of overweight and mean price target of $126.50, 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)

$CSCO

Asia55d ago

Apollo Tyres' Consolidated Profit More Than Triples in Fiscal Q4

Apollo Tyres (NSE:APOLLOTYRE, BOM:500877) consolidated profit more than tripled to 6.31 billion Indian rupees in the fiscal fourth quarter ended March 31, from 1.85 billion rupees a year ago.Earnings per share jumped to 9.97 rupees compared with the year-ago figure of 2.91 rupees, according to a Thursday filing to the Indian stock exchanges by the tire manufacturer.Revenue from operations in fiscal Q4 increased to 73.4 billion rupees from 64.2 billion rupees a year earlier.The company's board recommended a final dividend of 2.5 rupees per share for the financial year ended March 31.Apollo Tyres shares were down nearly 1% in Friday's trade.

BOM:500877NSE:APOLLOTYRE

Asia55d ago

Ligeance Aerospace Chairman Resigns

Ligeance Aerospace Technology's (SHE:000697) chairman, Xiong Huiran, resigned due to a job reassignment, according to a Shenzhen bourse filing on Friday.The aviation products manufacturer recommended to appoint a director, Wang Hu, to act as chairman until the election of Xiong's successor.

SHE:000697

Commodities55d ago

Abu Dhabi National Energy Posts Lower Hydrocarbon Output, Asset Availability in Q1

Abu Dhabi National Energy, a diversified utilities and energy company, Friday reported year-over-year declines in oil and gas production, and availability of generation assets and transmission network for power and water.For the quarter ended March 31, oil and gas output dropped to 94,600 barrels of oil equivalent per day, relative to the prior year's 94,900 boe/d. The oil and gas segment generated 992 million UAE dirhams ($270.12 million) in revenue during the period, down from 1.49 billion dirhams a year earlier, largely due to "timing differences" between production and sales, the company said.The global commercial availability of generation assets, mainly used for the production of electricity and desalinated water, eased year over year to 94.3% from 95.3%. The generation segment contributed 2.75 billion dirhams in revenue, lower than the prior year's 2.89 billion dirhams.The company attributed these declines to the downtime of Shuweihat 1 power plant, due to construction activities for the extension of the plant.The availability of the company's transmission network also fell to 98.4% from 98.7%. Nonetheless, the transmission segment's revenue rose to 1.71 billion dirhams in Q1, compared with 1.58 billion dirhams a year ago.The company's distribution segment recorded higher revenue for the period at 9.09 billion dirhams, up from 8.91 billion dirhams generated in Q1 2025.The water solutions segment, meanwhile, posted a year-over-year increase in asset availability to 97.2% from 93.7%. Its revenue grew to 683 million dirhams from 665 million dirhams.

Asia55d ago

Xinbo Aluminum's Unit to Build Lightweight Aluminum Component Plant for 100 Million Yuan

Anhui Xinbo Aluminum's (SHE:003038) unit, Anhui Xinbo New Energy Vehicle Parts, plans to invest in the construction of a lightweight aluminum component factory for 100 million yuan, according to a Friday disclosure on the Shenzhen bourse.The factory will produce one million sets of lightweight aluminum components every year, including new energy storage side beam integration lines, battery tray production lines, automatic longitudinal beam production lines and bumper welding lines.The project's construction is expected to run for six months, the filing said.

SHE:003038

Asia55d ago

Mitsubishi UFJ Financial Group's Profit Jumps 30% in Fiscal Year 2025

Mitsubishi UFJ Financial Group's (TYO:8306) profit attributable to owners of the parent surged 30% to 2.427 trillion yen for the fiscal year 2025 from 1.863 trillion yen a year earlier.Japan's largest financial group's earnings per share increased to 212.34 yen from 159.48 yen a year ago, according to a Tokyo bourse filing on Friday.Ordinary income climbed 7.3% to 14.621 trillion yen for the year ended March 31 from 13.63 trillion yen in the prior year.In another filing, the bank raised its final dividend to 51 yen per share, from the initially planned 39 yen, payable from June 29.MUFG has set a profit target of 2.7 trillion yen for the fiscal year 2026, instead of a formal forecast, citing uncertainties in its financial service businesses caused by economic conditions and market environments.The bank plans to pay interim and year-end dividends of 48 yen per share, each, for the year.In a separate disclosure, MUFG raised its ROE target for fiscal 2026 to 12% from 9% under its medium-term business plan, citing recent business performance that exceeded initial projections.The revision comes after the company achieved a 9% ROE in fiscal 2024, reaching its original target early.

TYO:8306

Asia55d ago

R&F Properties Logs 1.04 Billion Yuan in April Contracted Sales

Guangzhou R&F Properties (HKG:2777) recorded contracted sales of around 1.04 billion yuan in April with a gross floor area (GFA) of 113,100 square meters, according to a Friday Hong Kong bourse filing.For the four months ended April 30, contracted sales and GFA reached roughly 3.95 billion yuan and 429,100 square meters, respectively.

HKG:2777

Asia55d ago

Jiangsu Lopal Tech Adjusts Fund Allocation for Working Capital

Jiangsu Lopal Tech (SHA:603906) adjusted the proposed investment of raised funds for its cathode material projects, following lower-than-expected net proceeds from its A-share issue, according to a filing with the Shanghai bourse.The company raised 1.86 billion yuan in net proceeds, slightly below the planned 1.88 billion yuan. It will now allocate 457.9 million yuan to working capital versus the previous 480.0 million yuan..The shortfall will be covered by internal funds.

SHA:603906

Asia55d ago

Shunfa Hengneng Names Chairman

Shunfa Hengneng (SHE:000631) appointed Sheng Shuhao chairman, according to a Friday disclosure on the Shenzhen bourse.The clean energy power generation provider's board of directors elected Sheng to the position on Thursday.

SHE:000631

Equities55d ago

UAE Provides Update on West-East Pipeline Project; Expects to Double Export Capacity Through Fujairah by 2027

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