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Liftech Unit Bags MYR25 Million Contract

Liftech Group's (KLSE:LIFTECH) subsidiary, Liftech Engineering, accepted a letter of award from AME Construction for the design, supply, fabrication, installation, testing and commissioning of a material handling system for a test cell facility.The contract is valued at 25 million ringgit and covers the provision of labor, materials and tools for bridge canes, according to a Thursday filing with the Malaysian Exchange.The contract will conclude by Jan. 18, 2027 in the first phase, with the second phase slated for completion by March 15, 2027.

KLSE:LIFTECH

Asia26d ago

Update: Market Chatter: Fender Warns Legal Action Against Yamaha Over Guitar Design

Fender has sent a cease-and-desist notice to Yamaha (TYO:7951) to halt the sale of guitars resembling its Stratocaster model in Europe, Reuters reported Tuesday.The move follows a default judgment by a German court, which recognized the Stratocaster body design as protected under European Union copyright law.Yamaha confirmed it received the notice in May and is currently reviewing the matter, Reuters said.In an emailed response to' comment request, Yamaha's representative said it is not in a position to comment on the specific contents of the letter, but "will respond as appropriate with due consideration to the rights of relevant parties."Meanwhile, Fender did not immediately respond to' request for comment.(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.)

TYO:7951

Asia26d ago

Padini Holdings Frozen Bank Accounts Reactivated

Padini Holdings (KLSE:PADINI) said all bank accounts of the company that were frozen under a Malaysian Anti-Corruption Commission investigation, have been unfrozen, according to a Thursday filing with the Malaysian Exchange.Additionally, no director, officer, employee or representative has been arrested or charged with any offense arising from the matter.The clothing company first disclosed the account freeze in a statement on April 25, maintaining innocence in any wrongdoing or improper conduct.

KLSE:PADINI

Asia26d ago

SBI Funds Management's IPO Oversubscribed by 42 Times on Final Day

The initial public offering of SBI Funds Management was oversubscribed 41.66 times on its final day of bidding, according to data from the National Stock Exchange of India on Thursday.The fund is a joint venture between State Bank of India (NSE:SBIN, BOM:500112) and French asset manager Amundi.The IPO received bids for 5.19 billion shares against the 124.6 million shares on offer, the data showed.The Qualified Institutional Buyers segment led the demand, with subscriptions of 140.1 times, while the Non-Institutional Investors portion was subscribed 22.5 times. The retail individual investors category was subscribed 3.6 times.The IPO opened on July 14 and closed on Thursday, with shares expected to begin trading on July 21. It features a price band of 545 Indian rupees to 574 rupees per equity share.

BOM:500112NSE:SBIN

Asia26d ago

ASX Midday Sector Update: Communication Services Stocks Advance, Materials Sector Struggles

Communication services stocks advanced more than 1% at midday Friday.Telstra Group (ASX:TLS) gained nearly 2% in recent trade despite news that its CEO Vicki Brady will appear before the Senate Environment and Communications References Committee on Friday as part of an inquiry into the Triple Zero service outage.On the flip side, the materials sector struggled, shedding more than 3%.BHP Group (ASX:BHP) shares fell past 3% in recent trade following the start of a workers strike at its Port Hedland operations in Western Australia.

ASX 200ASX:BHPASX:TLS

International26d ago

New Zealand Consumer Prices Expected to Climb 1.5% in June Quarter, Westpac Says

New Zealand consumer prices are expected to climb by 1.5% in the June quarter as the Middle East conflict drives oil prices up, Westpac said in a report on Friday.The rise would see the annual inflation rate rising to 4.1% from 3.1%, the highest level in two years, said Satish Ranchhod, Westpac NZ senior economist.Petrol prices have risen 20% over the quarter and diesel prices were up 51%, with recent months also seeing further increases in household energy prices.While core inflation has been softening, it remains above the 2% target midpoint even as economic growth slows and the labor market shows signs of softness.Westpac said its forecast aligns with the Reserve Bank's updated projection of 3.9% annual inflation, per the report.

^NZ50

Asia26d ago

SDAI Signs Interest-Free Loan Agreement with Executive Chairperson

SDAI (SGX:5TI) signed a redeemable loan agreement with executive chairperson Hao Dongting for an interest-free loan of SG$200,000, according to a Thursday filing with the Singapore Exchange.The loan will be drawn down in a single tranche within five working days and runs to Dec. 31, 2027.The agreement also includes a placement option under which the lender would enter a subscription agreement within a week of any resumption of trading in the company's shares.The loan is earmarked for general working capital and to discharge existing liabilities.

SGX:5TI

Asia26d ago

Talga Group's Non-Binding LOI With Japan Firm Another 'Encouraging' Step, Euroz Hartleys Says

Talga Group's (ASX:TLG) new non-binding letter of intent (LOI) with Dainen Materials is another "encouraging" step for the company, providing a potential customer pathway into Japan, Euroz Hartleys said in a Thursday note.The company recently signed the LOI with the Japan-based firm for the supply of its battery anode material, Talnode-C, from the Vittangi project in Sweden.The LOI establishes a pathway toward a binding offtake agreement by this year, with the parties expecting a binding term sheet in September.Dainen, which supplies anode active materials to Japanese automotive, energy storage, and electronics makers, has been working with the company for over five years, and their continued progression is deemed a "positive read-through" for the quality of Talnode-C, according to Euroz Hartleys.Converting the LOI into a binding agreement would help secure the funding pathway for the Sweden project and could support a re-rate of the stock, the financial services firm said.Euroz Hartleys maintained its speculative buy recommendation and AU$1.33 price target on Talga Group.Talga shares fell 6% in midday trade on Friday.

ASX:TLG

International26d ago

ANZ Trims Annual Headline Inflation Forecast for New Zealand on Faster Moderation of Fuel Prices

ANZ now expects second-quarter annual headline inflation in New Zealand to accelerate by 0.9 percentage points to 4%, slightly below its previous forecast of 4.1% but still a touch higher than a New Zealand central bank estimate of 3.9%, ANZ said in a Friday report.The revision mainly reflects a faster moderation of fuel prices than previously assumed, as well as an expectation for lower pharmaceutical product prices, the bank said.It added that annual non-tradable inflation is expected to slow slightly to 3.4% in the June quarter, while tradable inflation is anticipated to accelerate more than 2 percentage points to 4.8%.On a quarterly basis, ANZ foresees headline inflation coming in at 1.4% driven mainly by fuel prices.The Reserve Bank of New Zealand may need to raise its official cash rate by a higher degree if inflation pressures remain above forecast and if it finds that domestic firms are quick to pass on cost increases but slow to pass on decreases, ANZ said.The biggest risk for the central bank is higher fuel prices potentially spilling over into other parts of the consumer price index basket, which could generate "a broader inflation impulse that proves difficult to contain," ANZ said.

^NZ50

Asia26d ago

Update: Market Chatter: Inpex Starts Work at $20.9 Billion Abadi LNG Project in Indonesia

(Updates to add an Inpex representative's comments)Japanese oil exploration company Inpex (TYO:1605) has started work on the long-delayed $20.9 billion Abadi liquefied natural gas project in the Arafura Sea, off the Tanimbar Islands, Maluku province, Indonesia, Nikkei reported Thursday.Inpex holds a 65% stake, while Indonesia's Pertamina and Malaysia's Petronas own the remaining interests, and the project is estimated to produce 9.5 million metric tons of LNG, along with condensate and pipeline gas, once fully operational by 2030.In an email response to, an Inpex representative confirmed that a groundbreaking ceremony for the Indonesian project was held on July 16 but clarified that the project has not yet reached the final investment decision (FID) stage. "Full-scale construction activities are expected to commence following FID," the representative said.(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.)

TYO:1605

Asia26d ago

NZX Biggest Losers

Here are the NZX-listed companies with the biggest losses on Friday.Asset Plus (NZE:APL): -3%, NZ$0.16Eroad (NZE:ERD): -3%, NZ$0.98Steel & Tube Holdings (NZE:STU): -3%, NZ$0.33Santana Minerals (NZE:SMI): -3%, NZ$0.52Manuka Resources (NZE:MKR): -3%, NZ$0.10PGG Wrightson (NZE:PGW): -3%, NZ$2.18Michael Hill International (NZE:MHJ): -2%, NZ$0.40Westpac Banking (NZE:WBC): -2%, NZ$43.39Goodman New Zealand & Goodman Property Services (NZE:GNZ): -2%, NZ$2.05Ventia Services Group (NZE:VNT): -2%, NZ$7.01

^NZ50NZE:APLNZE:ERDNZE:GNZNZE:MHJNZE:MKRNZE:PGWNZE:SMINZE:STUNZE:VNTNZE:WBC

Asia26d ago

NZX Biggest Gainers

Here are the NZX-listed companies with the biggest gains on Friday.SkyCity Entertainment Group (NZE:SKC): +6%, NZ$0.57Gentrack Group (NZE:GTK): +4%, NZ$3.78Vulcan Steel (NZE:VSL): +3%, NZ$6.23Property For Industry (NZE:PFI): +3%, NZ$2.39Fletcher Building (NZE:FBU): +2%, NZ$3.73Marlin Global (NZE:MLN): +1%, NZ$0.75Stride Property Group (NZE:SPG): +1%, NZ$1.19Vista Group International (NZE:VGL): +1%, NZ$2.46Rua Gold (NZE:RGI): +1%, NZ$1.57Channel Infrastructure (NZE:CHI): +1%, NZ$3.24

^NZ50NZE:CHINZE:FBUNZE:GTKNZE:MLNNZE:PFINZE:RGINZE:SKCNZE:SPGNZE:VGLNZE:VSL

Asia26d ago

Singapore High Court Approves Hatten Land's Proposed Scheme of Arrangement

The Singapore High Court granted an approval to Hatten Land's (SGX:PH0) proposed scheme of arrangement with its creditors, according to a Thursday bourse filing.The scheme was approved by a majority in number representing more than three-fourths in value of the scheme creditors who voted on it.

SGX:PH0

Asia26d ago

Moore Threads Expects Up to 149% Increase in H1 Revenue

Moore Threads Technology (SHA:688795) expects its operating revenue in the first half to soar by between 135% and 149% year on year, according to a Shanghai bourse filing on Friday.Operating revenue for the period is forecasted to be between 1.65 billion yuan and 1.75 billion yuan, higher than 701.8 million yuan a year earlier.Shares of the Chinese manufacturer of graphics processing units fell 2% during the morning trade.

SHA:688795

Asia26d ago

Hotel Properties Secures Debt Securities Status For SG$150 Million Bonds

Hotel Properties (SGX:H15) has secured a tax ruling from the Inland Revenue Authority of Singapore (IRAS) regarding its SG$150 million 4.38% subordinated perpetual securities, according to a Thursday Singapore bourse filing.Under the IRAS ruling, the perpetual securities will be classified as "debt securities" for the purposes of the Income Tax Act 1947.As a result of this classification, all distributions and deferred distributions due and payable on the securities will be regarded as interest payable on indebtedness.

SGX:H15

Asia26d ago

Hengrui Pharma Gets China Clinical Trial Nod for Osteoarthritis Injection; Shares Fall 4%

Jiangsu Hengrui Pharmaceuticals (SHA:600276, HKG:1276) received Phase 3 clinical trial approval from China's National Medical Products Administration for its HRS9531 injection, according to a Friday filing with the Shanghai bourse.Hengrui will initiate trials for the drug in obese adult patients with knee osteoarthritis.The HRS9531 injection targets the gastric inhibitory peptide receptor and glucagon-like peptide-1 receptor. It has been previously tested on type 2 diabetes, obesity with heart failure, sleep apnea, and polycystic ovary syndrome.The company's cumulative investment in the drug reached 700.8 million yuan.Shares fell 4% in Hong Kong and Shanghai during morning trading on Friday.

HKG:1276SHA:600276

Asia26d ago

Montage Technology Chairman Proposes Up to 600 Million Yuan Share Buyback; Shares Down 9%

Montage Technology's (HKG:6809, SHA:688008) chairman and chief executive officer, Yang Chonghe, proposed a share buyback worth between 300 million yuan and 600 million yuan after the company's shares posted a decline of more than 20%, according to a Shanghai bourse filing on Friday.Bourse rules said a share buyback is needed to safeguard the company's value and shareholders' interest after the Chinese chip designer's closing price dropped over 20% for more than 20 consecutive trading days as of Thursday, July 16.The shares will be repurchased within three months after the board of directors' approval.The company's Shanghai shares fell 9% during the morning trade, while its Hong Kong shares shed nearly 5%.

HKG:6809SHA:688008

Asia26d ago

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Friday.EQ Resources (ASX:EQR): -10%, AU$0.22Mesoblast (ASX:MSB): -10%, AU$2.50Orezone Gold (ASX:ORE): -8%, AU$2.07Ora Banda Mining (ASX:OBM): -8%, AU$0.99Regis Resources (ASX:RRL): -8%, AU$5.69Sunrise Energy Metals (ASX:SRL): -7%, AU$15.744DMedical (ASX:4DX): -7%, AU$3.49Weebit Nano (ASX:WBT): -7%, AU$6.04Elsight (ASX:ELS): -7%, AU$6.74Metals X (ASX:MLX): -7%, AU$1.35

ASX 200ASX:4DXASX:ELSASX:EQRASX:MLXASX:MSBASX:OBMASX:OREASX:RRLASX:SRLASX:WBT

Asia26d ago

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.Coles Group (ASX:COL): +3%, AU$23.31Xero (ASX:XRO): +3%, AU$71.17Woodside Energy Group (ASX:WDS): +3%, AU$30.27AMP (ASX:AMP): +3%, AU$1.95Amcor (ASX:AMC): +3%, AU$63.72Generation Development Group (ASX:GDG): +3%, AU$3.57Regis Healthcare (ASX:REG): +3%, AU$6.15GQG Partners (ASX:GQG): +3%, AU$1.41News Corp (ASX:NWS): +2%, AU$46.69Guzman y Gomez (ASX:GYG): +2%, AU$21.74

ASX 200ASX:AMCASX:AMPASX:COLASX:GDGASX:GQGASX:GYGASX:NWSASX:REGASX:WDSASX:XRO

Asia26d ago

Cyprium Metals Reports Copper Cathode Restart Progress, Lower Cash Position in June Quarter; Shares Rise 5%

Cyprium Metals (ASX:CYM) said it remains well-funded to progress all of its key work streams with a cash position of AU$68.5 million at the end of the June quarter, according to a Friday filing with the Australian bourse.The company ended the March quarter with cash of AU$96.5 million, a previous filing showed.During the June quarter, Cyprium made material advancements to its phase one Copper Cathode restart, with site infrastructure work packages nearing completion. The company said it targeting the start of copper cathode production in the current quarter.Shares of Cyprium Metals rose 5% in recent Friday trade.

ASX:CYM

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