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New Zealand Shares Fall; Fletcher Building Sells South Australia Industrial Property for Over AU$20 Million

New Zealand shares ended lower on Thursday amid a broad-based decline in Asian shares as inflation fears impacted US Treasury bonds.The S&P/NZX 50 Index fell 0.46% or 60.06 points to close at 12,965.01.The US Treasury two-year yield rose to 4.07%, and the 10-year yield rose 4.5% amid investors' expectations of an upcoming Federal Reserve rate hike as inflation pressures rise.In domestic news, petrol and diesel prices in New Zealand increased by nearly 13% and 37%, respectively, in April compared with the previous month, according to a Stats NZ selected price indexes report.Also, New Zealand's manufacturing sector showed only marginal growth in April, as weakening demand and production pointed to a clear slowdown amid rising global uncertainty and softer business conditions, BusinessNZ said.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) entered into an unconditional agreement to sell its surplus Iplex Australia industrial property in Elizabeth for AU$20.1 million to an industrial property investor.Meridian Energy (ASX:MEZ, NZE:MEL) secured approval to develop the Bunnythorpe Energy Park in Manawatu in New Zealand's North Island, featuring a 120-megawatt (MW) solar farm alongside a previously approved battery energy storage system.

^NZ50ASX:FBUASX:MEZNZE:FBUNZE:MEL

Asia55d ago

HRnetGroup Unit Implements Workforce Management Software for Environmental Firm

HRnetGroup (SGX:CHZ) subsidiary Octomate deployed its integrated cloud-based workforce management software for Cora Environment, according to a Friday filing with the Singapore Exchange.Cora Environment provides waste management solutions across Singapore and owns a material recovery facility, a medical and bio-hazardous waste treatment plant and an energy-from-waste plant.Octamate will serve the needs of around 800 Cora employees.

SGX:CHZ

Asia55d ago

Key Coffee Lays Out ROE Path To 5% By 2030 As Profit Improves

Key Coffee (TYO:2594) aims to lift return on equity to 3% in fiscal 2027 and 5% by fiscal 2030 as it focuses on improving profitability, operational efficiency, according to a Thursday filing on the Tokyo Stock Exchange.Net income attributable to owners of parent rose to 988 million yen in fiscal 2025 from 214 million yen in fiscal 2024, while net sales increased to 93.07 billion yen from 77.78 billion yen.Return on equity improved to 3.2% in fiscal 2025 from 0.7% a year earlier, while price-to-book ratio stood at 1.35 times.Under its medium-term management plan, the company forecasts net sales of 95 billion yen in fiscal 2026 and 99 billion yen in fiscal 2027. Net income attributable to owners of parent is projected at 750 million yen in fiscal 2026 and 1 billion yen in fiscal 2027.Return on equity is expected at 2.4% in fiscal 2026 and 3% in fiscal 2027 under the plan.Under its long-term strategy toward 2030, Key Coffee targets ROE of 5%, supported by efforts to lift profits, run operations more efficiently, focus on core businesses and improve coordination across the group.

TYO:2594

Research55d ago

Research Alert: CFRA Keeps Buy Opinion On Shares Of Manulife Financial Corp.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target price of CAD57, valuing MFC shares at 12.7x our 2026 core EPS estimate of CAD4.50 (lowered from CAD4.60) and at 11.6x our 2027 EPS estimate of CAD4.90 (lowered from CAD5.00), versus the stock's one-year average forward multiple of 11x and a peer average of 12x. MFC posted Q1 2026 core EPS of CAD1.06 vs. CAD0.99 prior year, compared with our CAD1.10 estimate and the CAD1.09 consensus view. Net income surged to CAD1.147B from CAD485M, due to lower market experience charges and underlying business growth. We are encouraged by these results, particularly Asia's standout performance, with core earnings up 22% to CAD820M, APE sales up 11%, and NBV up 15%, reinforcing the region as MFC's key growth engine. Currently trading at 10.5x our 2027 EPS estimate (a discount to peer and historical averages) and currently yielding 3.3%, we view the shares as undervalued.

$MFC

Research55d ago

Research Alert: CFRA Keeps Buy Opinion On Shares Of Manulife Financial Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target price of USD42, valuing MFC shares at 12.8x our 2026 core EPS estimate of CAD4.50 (USD3.28, converted based on the May 14, 2026 spot rate and lowered from CAD4.60/USD3.35) and at 11.8x our 2027 EPS estimate of CAD4.90 (USD3.57, lowered from CAD5.00/USD3.64), versus the stock's one-year average forward multiple of 11x and a peer average of 12x. MFC posted Q1 2026 core EPS of CAD1.06 vs. CAD0.99 prior year, compared with our CAD1.10 estimate and the CAD1.09 consensus view. Net income surged to CAD1.147B from CAD485M, due to lower market experience charges and underlying business growth. We are encouraged by these results, particularly Asia's standout performance, with core earnings up 22% to CAD820M, APE sales up 11%, and NBV up 15%, reinforcing the region as MFC's key growth engine. Currently trading at 10.5x our 2027 EPS estimate (a discount to peer and historical averages) and currently yielding 3.3%, we view the shares as undervalued.

$MFC

Asia55d ago

Evergreen Marine Logs NT$8.3 Billion Profit in Q1

Evergreen Marine Corp Taiwan (TPE:2603) posted a profit attributable to owners of the parent of NT$8.30 billion, or NT$3.84 per basic share, for the first quarter, according to a Thursday Taiwan Exchange filing.Shares slid about 5% in Friday's midday trade.Operating revenue accumulated by the cargo container shipping company for the period stood at NT$86.5 billion.The company did not disclose comparative year-ago figures in the filing.

TPE:2603

Asia55d ago

Australian Strategic Materials Says Federal Court Orders Shareholder Meeting to Vote on Proposed Acquisition by EFR Critical Materials

Australian Strategic Materials (ASX:ASM) said the Federal Court of Australia, Western Australia Registry ordered that meetings of its shareholders and optionholders be convened to consider the proposed acquisition of the firm by EFR Critical Materials, a wholly-owned unit of Energy Fuels, via schemes of arrangement, according to a Friday Australian bourse filing.The court also ordered that an explanatory statement, which includes information about the schemes together with the notices of the share scheme meeting and option scheme meeting, be dispatched to the firm's securityholders.Its shares fell 2% in recent trading on Friday.

ASX:ASM

Asia55d ago

Golden Agri-Resources Reports 20% Decline in Q1 Net Profit

Golden Agri-Resources (SGX:E5H) reported a 20% decline in its first-quarter attributable net profit, according to a Friday filing with the Singapore Exchange.The palm oil producer said net profit for the three months ended March 31 fell to $44.0 million from $55.0 million in the same period last year.Revenue jumped 6% year over year to $3.23 billion from $3.04 billion, backed by increased downstream sales volume.

SGX:E5H

International55d ago

China's Total Aggregate Financing for January-April Misses Expectations

China's total aggregate financing for the first four months of the year missed market consensus, according to Friday data published by the People's Bank of China.The total aggregate financing was 15.5 trillion yuan between January and April, 893 billion yuan less than same period a year earlier. The market predicted a total aggregate financing of 16.1 trillion yuan.Nomura's analysts said aggregate financing declined to 7.8% year on year from 7.9% in March due to lower renminbi-denominated loans and government bond issuances.Meanwhile, the outstanding aggregate financing grew 7.8% year on year to 456.89 trillion yuan at the end of April.

Shanghai Composite^SZSE

International55d ago

Malaysia' Economic Growth Eases to 5.4% in Q1

Malaysia's economy expanded by 5.4% in the first quarter, slowing from 6.2% expansion in the previous quarter, according to data from the Department of Statistics Malaysia on Friday.On a seasonally adjusted basis, the economy slipped marginally by 0.01%, against the 1.4% quarter-on-quarter growth in the fourth quarter of 2025.On the supply side, growth was driven mainly by the services sector, which grew 5.6% in the first quarter, albeit easing from 6.2% in the prior quarter. The manufacturing sector rose 5.9%, slightly lower than 6% previously, the DoSM said.Mining and quarrying contracted 2.1%, while agriculture grew 2.6%, slowing sharply from 5.7% in the previous quarter. The construction sector expanded 7.7% but moderated from 10.9%, led by specialised construction and non-residential buildings.Private consumption rose 4.7%, while government spending increased 4.1%. Gross fixed capital formation grew 7.3%, supported by structures and machinery and equipment. Exports rose 5.2%, while imports increased 4.6%, though both moderated from the previous quarter.According to a separate same-day announcement by the DoSM, Malaysia's economy grew 5.2% in 2025, maintaining the same pace as the previous year, supported mainly by the services and manufacturing sectors, which together accounted for 82.5% of GDP.Private consumption remained the key driver on the demand side, while GDP reached 2.03 trillion ringgit at current prices and per capita income rose to 57,200 ringgit from 54,870 ringgit in 2024, the data showed.

FTSE Bursa Malaysia KLCI

Asia55d ago

Man Wah's Full-Year Profit Falls 12%

Man Wah Holdings (HKG:1999) recorded HK$1.81 billion in attributable profit for the fiscal year ended March 31, falling 12% from HK$2.06 billion a year earlier, according to a Friday filing with the Hong Kong bourse.Earnings per share were HK$0.4672, compared with HK$0.5319 in the prior-year period.Revenue fell 2.8% year on year to HK$16.4 billion, figures showed.The company also declared a dividend of HK$0.09 per share, payable July 22 to shareholders of record on July 13.

HKG:1999

Asia55d ago

Eagle Hospitality Trust Obtains Singapore Bourse's Nod to Delist Eagle Hospitality REIT

Eagle Hospitality Trust (SGX:LIW) received the green light from the Singapore Exchange for the delisting of Eagle Hospitality Real Estate Investment Trust from the bourse's Official List, according to a Friday bourse filing.The delisting is subject to an official company update.The trust will confirm the date and time of delisting in due course, the filing added.This follows the trust's plan to wind up, terminate, and delist Eagle Hospitality Real Estate Investment Trust.Eagle Hospitality Trust is a Singapore-based hospitality stapled group that comprises Eagle Hospitality Real Estate Investment Trust and Eagle Hospitality Business Trust.

SGX:LIW

International55d ago

Fitch Sees Uneven Impact on APAC Finance Firms, Developed Markets More Resilient

Fitch Ratings said non-bank financial institutions in Asia-Pacific face uneven but broadly manageable risks from an energy shock linked to the US-Iran war, with developed markets expected to show greater resilience than emerging peers.The agency noted that higher fuel prices, imported inflation, softer demand and tighter funding conditions would weigh on finance and leasing companies, particularly in emerging markets. It added that currency weakness could further raise inflation and constrain monetary easing.Fitch warned that Vietnam and Thailand are more vulnerable due to faster fuel price transmission, riskier unsecured lending in Vietnam, and Thailand's already weak economic backdrop. India and Indonesia may also see higher funding costs as currency depreciation and inflation expectations push up interest rates, Fitch said.In contrast, China's leasing and asset management firms are expected to remain relatively stable, supported by controlled risk appetite and policy backing, despite property sector weakness.Developed Asia finance companies are seen as more resilient due to deeper funding markets and AI-related growth support, although SME exposure remains a key risk in some markets such as Taiwan, the agency said.

^BSE^HNX^HOSE^JKSEFTSE Bursa Malaysia KLCINifty 50^SETShanghai Composite^STI^SZSETaiwan Weighted

Asia55d ago

City Developments Secures SG$300 Million Sustainability-Linked Loan

City Developments (SGX:C09) obtained a SG$300 million multicurrency sustainability-linked loan from DBS Bank, according to a Friday filing with the Singapore Exchange.The loan is linked to the company's aim of adopting nature-based solutions and to support Singapore's transformation into a "City in Nature," which is part of the city-state's Green Plan 2030.The loan will be used for general corporate funding and working capital needs.

SGX:C09

Asia55d ago

LHN Profits Rise 19% in H1 Despite Revenue Drop; Shares Slip 4%

LHN's (SGX:41O, HKG:1730) attributable profit to equity holders climbed 19% in the fiscal first half ended March 31 to SG$16.8 million from SG$14.1 million a year earlier, according to a Thursday filing with the Singapore Exchange.Shares of LHN Group fell more than 4% in late Friday trade on both the Singapore Exchange and the Hong Kong Stock Exchange.Earnings per share rose to SG$0.0389 compared with SG$0.0334 in the year-ago period.Revenue, however, declined 14% year over year to SG$60.9 million from SG$70.6 million.The company declared an interim dividend of SG$0.01 per share for the period, unchanged from a year earlier. The dividend will be paid on June 26.

HKG:1730SGX:41O

Asia55d ago

SKF India's Interim CFO Resigns

Machine components manufacturer SKF India's (NSE:SKFINDIA, BOM:500472) interim chief financial officer Aashi Arora has resigned from the position with effect from Thursday, according to a same-day disclosure to the Indian stock exchanges.The company's shares were down over 1% in Friday's trade.Arora has stepped down due to the conclusion of her interim assignment and a change in role in the organization, the statement said.

BOM:500472NSE:SKFINDIA

Asia55d ago

Remixpoint To Spin Off Energy Business In Absorption-Type Split Plan

Remixpoint (TYO:3825) will transfer its electricity retail business to a wholly owned subsidiary through an absorption-type company split effective Oct. 1, according to a Friday filing on the Tokyo Stock Exchange.The company said it will establish Remixpoint Energy Business Split Preparatory as the successor entity, which will take over its energy retail operations, while the parent retains its storage battery, energy consulting and cryptoasset-related businesses.Remixpoint said the move aims to strengthen risk management and accelerate decision-making amid rising volatility in global energy markets, including fuel price swings linked to Middle East tensions. The split is subject to shareholder approval on June 25.

TYO:3825

Asia55d ago

Hana Bank to Acquire 6.55% Stake in Crypto Exchange Operator Dunamu in KRW1 Trillion Deal

Hana Financial Group's (KRX:086790) Hana Bank will acquire 6.55% of crypto exchange operator Dunamu for 1.003 trillion won, the financial group said in a Friday filing with the Korea Exchange.The bank will acquire 2.28 million shares in the target on June 15, which are currently held by Kakao (KRX:035720) subsidiary Kakao Investment. The transaction will be settled in cash, the filing said.Shares of Hana Financial Group fell over 4% in recent trade, while those of Kakao declined more than 2%.

KRX:035720KRX:086790

Asia55d ago

Pitti Engineering Earmarks INR2.9 Billion Capex for Proposed New Unit

Pitti Engineering's (NSE:PITTIENG, BOM:513519) on Thursday approved capital expenditure of around 2.90 billion rupees for setting up a greenfield casting and machined components facility, according to a same-day filing to the Indian bourses.The company's shares were down nearly 2% in early trade on Friday.The project is expected to be completed in three years and will be funded through a mix of internal accruals and lease finance.After the new unit is commissioned, the company's total combined installed casting capacity, including existing facilities and the planned debottlenecking, will increase to 36,000 MT per annum.On the commissioning of the new facility, the existing Hosakote facility is proposed to be monetized.

BOM:513519NSE:PITTIENG

Asia55d ago

Netlink NBN Trust's DPU Edges Up 1.1% in Fiscal H2

Netlink NBN Trust's (SGX:CJLU) distribution per unit or DPU edged up 1.1% during the fiscal second half ended March 31 to SG$0.0271 from SG$0.0268 a year earlier, according to a Thursday filing with the Singapore Exchange.Shares of the trust were down nearly 1% in Friday trading.Distributable income rose to SG$105.6 million from SG$104.4 million.Revenue jumped 2.1% year over year to SG$206.3 million from SG$202.2 million.

SGX:CJLU

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