SYDNEY: Consolidated Operations Group Limited (COG) and CML Group Limited have entered into a Scheme Implementation Agreement (SIA) to a proposed merger to establish a leading financial services group focusing on servicing SME businesses in Australia. The merger will be implemented via a court-approved scheme of arrangement with CML shareholders pursuant to which COG will…
Bardoc completes acquisition of Mayday and North Kanowna Star Gold Projects
FREMANTLE: Bardoc Gold Limited has completed the acquisition of the Mayday and North Kanowna Star gold projects from Strategic Projects Mining Pty Ltd. The project areas include a combined JORC compliant Indicated and Inferred Mineral Resource totalling 111,600oz, which the Company aims to expand over the coming months through a +10,000m Reverse Circulation and diamond…
BlackEarth commences trial mining at Maniry Graphite Project
PERTH: BlackEarth Minerals NL has commenced the excavation of 60 tonnes of bulk material from the Maniry Graphite Project in southern Madagascar, as part of its trial mining / large scale pilot program. The mining and excavation activities on site are expected to be completed by late November, and the 60+ tonnes bulk sample is…
Desane completes $9.5mn purchase of Brisbane industrial asset
SYDNEY: Desane Properties Pty Ltd, a controlled entity of Desane Group Holdings Limited, has today completed the purchase of the 21,750m2 industrial property asset located in the Brisbane suburb of Wacol. The property was acquired for $9.5 million from the City of Brisbane Investment Corporation and is leased to the Brisbane City Council on a…
Damac Properties posts revenues of AED2.8bn in nine months
DUBAI: DAMAC Properties Dubai Co. has announced financial results for the nine months of 2019, reporting total revenue of AED 2.8 billion, with booked sales reported at AED 2.4 billion. Gross profits for the same period stood at AED 838 million reflecting gross profit margins of 30.3%. Total assets stood at AED 24.5 billion compared…
S&P revises outlook on U.K.-based HSBC Holdings to negative
LONDON: S&P Global Ratings revised its outlook on U.K.-based bank holding company HSBC Holdings PLC to negative. At the same time, S&P affirmed ‘A’ long-term and ‘A-1’ short-term issuer credit ratings on HSBC Holdings. “We also revised our outlook on certain core subsidiaries of the HSBC group to negative and affirmed our ‘AA-‘ long-term and…
Pakistan’s automobile sales decline 56pc in October 2019
KARACHI: Pakistan’s overall passenger car sales clocked in at 10,853 units in October 2019, 56 percent down against 24,850 units sold in the same month last year, numbers issued by Pakistan Automotive Manufacturers Association (PAMA) suggest. On aggregate basis, locally assembled passenger car sales registered a decline of 46 percent to 45,161 units in four…
Lifenet makes business alliance with Insurtech provider justInCase
TOKYO: Lifenet Insurance Company announced that Lifenet has concluded a comprehensive business alliance agreement with justInCase, Inc., which has received the first authorization to participate in regulatory sandbox system as a small-amount short-term insurer in Japan. Lifenet has entered this business alliance with justInCase, Inc. to innovate the customer experience and enhance promotion capabilities, which…
Nissan cuts global vehicle sales forecast by 5.4%
YOKOHAMA: For the 2019 full fiscal year, Nissan Motor Company has reduced its global vehicle sales forecast by 5.4% from the initial to 5.24 million units. Nissan is progressing steadily towards its business transformation and profit recovery. However, operating profit for the first half is behind the original plan. In addition, the yen has strengthened…
Blue and Queensland sign gas MOU for proposed Townsville Nickel refining project
BRISBANE: Blue Energy Limited has signed a non-binding MOU with Queensland Pacific Metals Pty Ltd (QPM) to facilitate supply of a portion of Blue Energy’s North Bowen Basin gas resources. QPM is a wholly owned subsidiary of Pure Minerals Limited, who is focussed on developing a battery chemicals refinery to produce nickel and cobalt sulphate…
PSC Insurance acquires Carroll Insurance for £3.4 million
SYDNEY: PSC Insurance Group has announced the acquisition and completion of Carroll Insurance Group (CIG), a direct and wholesale broking business, operating in the Lloyd’s and London markets. CIG was acquired for £3.4 million (A$6.3 million), excluding net assets; 70% of the consideration is payable in cash on completion (£2.4 million), with the balance after…
9 Spokes explores global collaboration opportunity with Visa
AUCKLAND: 9 Spokes, a leading marketplace and insights company to small businesses, has signed an addendum to its Collaboration Framework Agreement with Visa USA. Inc. enabling the parties to explore a potential opportunity to make the 9 Spokes platform and business app Marketplace available to Visa’s small business issuing clients and their SMBs worldwide. 9…