SINGAPORE: Sembcorp Industries announced that the Group has divested its entire stake in Sembcorp Energy Australia Pty Ltd (SEA), formerly known as Vellocet Clean Energy Pty Ltd (VCE), in Australia. The Group has sold its 81.3% stake to Achievement (S) Pte Ltd, the existing shareholder of the company for a nominal sum of A$10 (approximately…
LCT Holdings to acquire PG Automotive for S$160 million
SINGAPORE: The Board of Directors of LCT Holdings Limited has entered into a non-binding term sheet in relation to the proposed acquisition of the entire equity interest in PG Automotive Holdings Pte. Ltd. together with its subsidiaries and associated companies from Mr. Park Ki Chool and his family members at an indicative price of S$160…
Boustead opts collaboration with Getronics for integrated smart building solutions
SINGAPORE: Boustead Projects Limited has signed a memorandum of understanding (MOU) with Getronics Solutions, the Singapore unit of Getronics on a collaboration which will offer integrated smart building solutions for industrial buildings, industrial parks and integrated digital cities. Boustead is Singapore’s leading real estate solutions provider for smart eco-sustainable business park and industrial developments. Getronics…
X5 Retail Group opens logistics facility in Siberia
NOVOSIBIRSK: X5 Retail Group, a leading Russian food retailer, has expanded its logistics infrastructure in the Siberian Federal District with a Pyaterochka distribution centre (DC) in Novosibirsk. The 38,500 sq m Tolmachevo DC will be used by Pyaterochka stores in the Novosibirsk, Omsk, Tomsk and Kemerovo regions, Krasnoyarsk and Altai territories, and the republics of…
Alphalogic Techsys and Transpact Enterprises gets listed on BSE startups platform
MUMBAI: Alphalogic Techsys Limited and Transpact Enterprises Limited became the first companies to get listed on the BSE Startups Platform on September 5, 2019. On December 22, 2018, BSE had become the first stock exchange to get the approval from SEBI and launch its Startups platform. Alphalogic Techsys Limited is a Maharashtra-based company whose registered…
Xeros signs licensing agreement with Ramsons for denim finishing equipment
BANGALORE: Xeros Technology Group, the developer and provider of water saving and filtration technologies with multiple commercial and domestic applications, has signed a binding Heads of Terms agreement with Ramsons Garment Finishing Equipment. Under the agreement, Ramsons will develop, manufacture and sell garment finishing equipment used in the manufacture of denim jeans which incorporates Xeros’…
Smiths News agrees new long term contract with The Telegraph
LONDON: Connect Group announces that Smiths News has agreed a new long-term contract with The Telegraph, running from October 2019 through to September 2024, covering the distribution of The Daily Telegraph and Sunday Telegraph. The agreement encompasses all of Smiths News’ existing distribution territories with The Telegraph, securing annual revenues in excess of £100 million…
AM Best maintains credit ratings of Prudential Financial following announced acquisition
OLDWICK: AM Best has commented that the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” of the domestic life/health insurance subsidiaries of Prudential Financial, Inc. remain unchanged following the recent announcement by Prudential that it has agreed to acquire Assurance IQ, Inc. Assurance IQ is a leading direct-to-consumer solutions…
MelodyVR successfully completes Good Morning America broadcast
LONDON: EVR Holdings, the leading creator of virtual reality entertainment content and operator of the MelodyVR platform, announced streaming statistics in connection with MelodyVR’s partnership with American Broadcasting Companies (ABC) and Good Morning America (GMA) to deliver a milestone media event on August 30th: a live, immersive broadcast of GMA’s Summer Concert Series, featuring Mashmello…
Weir Group secures £100m order for Australian magnetite iron ore project
SYDNEY: The Weir Group, one of the world’s premium providers of highly engineered mining equipment and services, has been awarded a £100 million order to provide industry-leading energy saving solutions to the Iron Bridge Magnetite Project, a joint venture between Fortescue Metals Group Ltd subsidiary FMG Magnetite Pty Ltd and Formosa Steel IB Pty Ltd….
Atlantis JV signs clean electricity supply agreement with Alderney Electricity
LONDON: SIMEC Atlantis Energy Limited via its joint venture Normandie Hydroliennes, has signed a heads of terms with Alderney Electricity Limited (AEL) to supply the island of Alderney in the Channel Islands with power from a proposed tidal array in the Raz Blanchard and help to reduce the island’s current reliance on carbon intensive diesel…
Emaar launches Ease by Emaar, a short-term rental concept for travelers
DUBAI, UAE: Emaar, a Dubai-based global property developer and provider of premium lifestyles, today announced the launch of Ease by Emaar – a streamlined short-term rental concept that provides global travellers exceptional stays in elegant homes handpicked by Emaar in their integrated communities. During the launch event, the developer also unveiled ‘South Beach’, a premium…