SAN JOSE: Lumileds, a global leader in innovative lighting solutions, has appointed Matt Roney as the company’s Chief Executive Officer, effective October 1, 2020, a news release said. Roney most recently served as President of Lumileds’ Automotive Business Unit and succeeds Dr. Jonathan Rich who will continue with the company as Executive Chairman of the…
SGX and NSE India progress on NSE IFSC-SGX Connect
SINGAPORE: Singapore Exchange (SGX) and National Stock Exchange (NSE) of India have entered into a formal agreement to cement the key terms for operationalising the NSE IFSC-SGX Connect which will bring together international and Gujarat International Finance Tec-City (GIFT) participants to create a bigger liquidity pool for Nifty products in GIFT City. Both NSE and…
Keppel O&M secures two contracts worth approximately S$200 million
SINGAPORE: Keppel Offshore & Marine Ltd (Keppel O&M) has through its wholly-owned subsidiaries, Keppel AmFELS and Keppel Shipyard, clinched contracts worth approximately S$200 million combined. In the United States, Keppel AmFELS will be constructing a high-specification Trailing Suction Hopper Dredger (TSHD) for Manson Construction Co. The TSHD will be the first dredger built at Keppel…
Fitch takes rating action on four Indian NBFIs following pandemic
SINGAPORE: Fitch Ratings has taken rating action on the Long-Term Issuer Default Ratings (IDR) of four Indian non-bank financial institutions (NBFI) in light of the companies’ performance amid the coronavirus pandemic. The rating actions are as follows: · IIFL Finance Limited ‘B+’ rating maintained on Rating Watch Negative (RWN) · Manappuram Finance Limited (MFIN), affirmed at ‘BB-‘;…
Entech Electronics becomes Respiri’s global manufacturing partner for Wheezo
MELBOURNE: Respiri Limited, an eHealth SaaS Company supporting respiratory health management, announced a partnership with Entech Electronics for the global supply of the ground breaking wheezo. Entech Electronics are an Australian, privately owned contract electronics manufacturer established in 1986. Headquartered in Devon Park, South Australia, the company has operated offshore production facilities in Shenzhen China…
VivoPower International to acquire 51% Shareholding in Tembo
LONDON: VivoPower International has signed a non-binding Letter of Intent (LOI) to acquire a 51% shareholding in Tembo 4×4 e-LV B.V. Tembo is a specialist battery-electric and off-road vehicle company with customers globally in the mining, government services (armored cars, police, ambulances, inspection vehicles), game safari and humanitarian aid sectors. The purchase consideration will be…
BiON acquires two biogas power plants in Malaysia
LONDON: BiON Plc announced the acquisition of two biogas power plants from its associate company, Megagreen Energy Sdn Bhd (MGE), which increases its installed capacity to 7.0MW. Through its subsidiary, BiON Sdn Bhd (BSB), BiON has conditionally acquired two biogas power plants, Nasarudin and Seberang Perak (both in Perak, Malaysia), from its associate company, Megagreeen…
SigmaRoc completes acquisition of GDH (Holdings) Limited
LONDON: SigmaRoc plc, the buy-and-build construction materials group, has completed the acquisition of the remaining 60 percent equity interest in GDH (Holdings) Limited, a significant quarrying group located in South Wales. This acquisition has been completed in line with the Company’s announcements dated 15 April 2019 and 1 September 2020. SigmaRoc will be working closely…
Ethernity Networks to provide Indian telecom OEM with end-to-end system functionality
LONDON: Ethernity Networks Ltd has signed a contract to provide an Indian telecom OEM with end-to-end system functionality to enable up to 360Gbps Cell Site Router (CSR) appliances, a news release said. Ethernity will provide a complete vRouter software stack running on top of its CSR FPGA firmware embedded on an FPGA system-on-chip that will…
Learning Technologies Group to acquire Moodle provider, eCreators
LONDON: Learning Technologies Group (LTG) has announced the proposed acquisition of eCreators for an initial cash consideration of A$5.5 million. eCreators is Australia’s largest provider of Moodle, the leading open-source LMS. The business will be integrated into LTG’s existing market-leading Moodle business, Open LMS. This acquisition is in line with LTG’s strategy to add complementary…
Tritax Big Box REIT sells three assets for £77 million
LONDON: Tritax Big Box REIT plc announced exchange on the sale of three assets including Wolseley, Baker Business Park, Ripon; DHL, Langley Mill, Nottingham; Whirlpool, Warth Park, Raunds; to two separate purchasers for a total consideration of £77 million. “Through our ongoing evaluation of the portfolio, we consider these assets to have reached their full…
PayTabs Egypt to provide SMEs with free access to digital payment solutions
CAIRO: PayTabs Egypt, a joint venture between EFG Hermes and PayTabs, announced that existing and prospective clients will be offered access to set up a payment gateway free of charge for a three-month period. The move is unprecedented in the MENA region and marks the widest charge-free extension of an online payment and checkout platform….