SYDNEY: Cedar Woods Properties Limited has signed a conditional contract to acquire 179 Erindale Rd, Hamersley, Western Australia from Broadcast Australia for $21.2 million, plus GST. The acquisition remains conditional on the vendor obtaining town planning and environmental approvals, de-risking these steps for the Company. The 12.4 ha residential site is located only 14kms from…
JCR withdraws application for additional marketing approval of TEMCELL
TOKYO: JCR Pharmaceuticals Co., Ltd. has withdrawn its application with the Ministry of Health, Labour and Welfare of Japan for additional marketing approval of TEMCELL HS Inj., allogeneic bone marrow-derived mesenchymal stem cells, for the indication of epidermolysis bullosa (EB). Following the filing of the application for EB in March 2019, JCR has had extensive…
AM Best revises outlooks to negative for Kansas City Life Insurance Company
NEW YORK: AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of Kansas City Life Insurance Company. Concurrently, AM Best has revised the outlooks to negative from stable and affirmed the FSR of A-…
Credit ratings of operating subsidiaries of MGIC Investment Corporation affirmed
OLDWICK: AM Best has affirmed the financial strength rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of certain operating subsidiaries of MGIC Investment Corporation, which are Mortgage Guaranty Insurance Corporation, MGIC Indemnity Corporation, MGIC Assurance Corporation and MGIC Reinsurance Corporation of Wisconsin. The outlook of these Credit Ratings is stable. The…
Renewables can lead the world’s response to climate change
NEW YORK: The International Renewable Energy Agency (IRENA) will deliver a clear message to policy makers, civil society leaders and business decision makers in New York during the 74th Session of the UN Assembly and the Climate Action Summit next week, a press release said. The Agency will reinforce the fact that limiting climate change…
One Media announces acquisition of music catalogue
LONDON: One Media iP Group, the digital media content provider that exploits intellectual property rights around music, video and copyright technology, has acquired the entire music catalogue to date of American composer and solo piano artist Philip Wesley, for a total cash consideration of US $4.15m, satisfied upon full execution of the agreement. An additional…
Velocys secures order for biorefinery licence in Japan
TOKYO: Velocys plc has secured a purchase order and technical service agreements with Toyo Engineering Corporation for the use of Velocys technology in a publicly funded demonstration facility in Nagoya, Japan, as well as an advanced deposit for the use of the Velocys technology by Toyo in a subsequent commercial plant. Toyo has placed an…
Diversified Gas & Oil acquires assets from EdgeMarc Energy Holdings
BIRMINGHAM: Diversified Gas & Oil, the U.S. based owner and operator of natural gas, natural gas liquids and oil wells as well as midstream assets, has completed the purchase of certain assets from EdgeMarc Energy Holdings, LLC, and certain of its subsidiaries. The consideration for the acquisition was $50 million funded from existing debt facilities,…
Spectrics agrees to sell BTG Group for €319 million
LONDON: Spectris plc, the productivity-enhancing instrumentation and controls company, has agreed with Voith GmbH & Co. KGaA for Voith to acquire BTG Group from Spectris for a total gross cash consideration of €319 million. The sale is in line with Spectris’ strategy to simplify and focus our portfolio and to concentrate on developing presence in…
Standard & Poor’s BBB rating for SATO Corporation
HELSINKI: SATO Corporation has obtained a BBB rating with a stable outlook from rater Standard & Poor’s. At the same, SATO has decided to end the cooperation with its previous rater Moody’s. SATO is one of Finland’s leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer…
Inzone Garland Qishi Culture Hotel officially commences operations
SINGAPORE: Imperium Crown Limited announced that the hotel at the Wonder Stone Park has successfully held its opening ceremony on 17 September 2019 to officially commence operations. Operating under the “Inzone” brand, the hotel is managed by the Inzone Hotels & Resorts Group. Inzone Hotels & Resorts Group currently manages over 300 hotels and is…
Pakistan to privatise state owned insurance company
ISLAMABAD: Pakistan government has announced inclusion of State Life Insurance Corporation (SLIC) as well as Islamabad Electric Supply Company (IESCO) and part of Lahore Electric Supply Company (LESCO) in active list of privatisation programme. Total statutory fund of State Life Insurance Corporation (SLIC) stands at Rs.707.388 billion in 2017. The Investment Portfolio of State Life…