SINGAPORE: Chu Heng Hwee would resign as the Group Chief Executive Officer of BreadTalk Group Limited with effect from 31 December 2019. The The Board of Directors of BreadTalk Group Limited would like to express its appreciation to Chu for his contribution during his tenure as the Group Chief Executive Officer of the Company. Upon…
CPB Contractors secures NZ$221mn Auckland Airport works
SINGAPORE: CIMIC Group’s company CPB Contractors has reached contractual close to deliver Auckland Airport’s Taxiway Mike and Remote Stands Stage 2 project, a critical component in the facility’s major capital works program, a release issued to Singapore Exchange (SGX) noted. The project is expected to be completed by October 2021, and will generate revenue to…
Quadrise, Merlin signs MoU to promote heavy oil projects
LONDON: Quadrise Fuels International has signed a Memorandum of Understanding (MOU) with Merlin Energy Resources Limited to promote upstream heavy oil projects, a release issued to London Stock Exchange noted. Merlin Energy is an upstream oil and gas consultancy specialising in geological & geophysical Exploration and Production (E&P) related services, through all phases of the…
Gfinity to windup Australian joint venture
LONDON: Gfinity plc has announced that its Australian joint venture, Gfinity Esports Australia, will close at the end of November 2019, a release issued to London Stock Exchange noted. The decision was taken in conjunction with local partner HT&E and follows a strategic review by Gfinity’s leadership to refocus the business on core markets to…
Messe Frankfurt sets a new record of around €718 million sales in 2019
FRANKFURT: Messe Frankfurt, the largest player in the German trade fair industry is setting a new record of around €718 million sales in 2019. Messe Frankfurt has 30 subsidiaries and 56 sales partners in 190 countries. Pakistan is one of the largest sales partners of Messe Frankfurt and helps organize over 50 government pavilions and…
Aamir Khan appointed head of Pakistan’s corporate sector watchdog
ISLAMABAD: Pakistan government has appointed eminent financial sector professional Aamir Khan as Chairman of the Securities and Exchange Commission of Pakistan (SECP), corporate and insurance sector watchdog. Aamir has been working as Commissioner, Specialized Companies Division at SECP. According to a notification issued by the Finance Division here on Friday, the federal government has appointed…
FairFX acquires international payment business of Hermex
LONDON: FairFX plc, a subsidiary of Equals Group has acquired the International Payments business of Hermex International Limited, part of the FXPro Group, for a total consideration of £2 million, payable in cash on completion. Equals Group is the e-banking and international payments group. HermexFX offers international payment services to a predominantly corporate client base…
Highland commences CBD sales in UK
LONDON: Highlands Natural Resources has announced that its wholly owned, vertically integrated CBD subsidiary, Zoetic has commenced sales in the UK via its website www.zoetic.uk.com. The first product lines in the UK will be CBD tinctures. These are available in four flavours (natural, peppermint, melon and blood orange) and two strengths (500mg and 1,000mg). In…
Circle Property acquires Maidenhead office park for £14.6mn
LONDON: Circle Property Plc has announced the acquisition of Concorde Park, Concorde Road, Maidenhead, a south east office park for £14.6 million. Circle Property invests in, develops and actively manages well-located regional office assets. The 71,500 sq ft park is currently 36.6% let to three tenants producing a combined rental income of £627,372 per annum….
IWG announces strategic partnership in Taiwan
LONDON: IWG has entered into a second strategic partnership with TKP Corporation. IWG will divest its Taiwanese operations to TKP and the parties have agreed an exclusive master franchise agreement for the country. IWG is the global operator of leading co-work and workspace brands. IWG and TKP have entered into a definitive sale and purchase…
AM Best affirms credit ratings of Polskie Towarzystwo Reasekuracji
AMSTERDAM: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Polskie Towarzystwo Reasekuracji S.A (Polish Re). The ratings reflect Polish Re’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, limited business profile and appropriate…
Long term issuer credit rating of Arab Orient Insurance upgraded
LONDON: AM Best has upgraded the Long-Term Issuer Credit Rating to “bbb+” from “bbb” and affirmed the Financial Strength Rating of B++ (Good) of Arab Orient Insurance Company. The ratings reflect Arab Orient Insurance’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral business profile and marginal…