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☆ China's Meituan launches $1 bln share buyback program
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] Wang Xing, CEO of Meituan-Dianping attends at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. Meituan CEO Wang Xing had said on Tuesday that the board had authorised a share buyback of up to $1 billion but it would depend on the company's cash position due to plans to invest in new initiatives and explore overseas investments. "The Board believes that the current financial resources of the company would enable it to implement the share repurchase while maintaining a solid financial position," Meituan said in an exchange filing on Wednesday. The share repurchase will start from Dec. 1. Meituan, China's largest food delivery provider ahead of Alibaba's Ele.me, on Tuesday flagged expectations around fourth-quarter revenue growth for its core food delivery business to slow versus the preceding quarter.

Persons: Wang Xing, Dianping, Aly, Meituan, Alibaba's, Rishav Chatterjee, Maju Samuel Organizations: World Internet Conference, REUTERS, HK, Thomson Locations: Wuzhen, Zhejiang province, China, Bengaluru

That pushed net profit from the bank's institutional unit up 53% to overtake its retail unit, by dollar value, in the year to September, and helped the Melbourne-listed company grow overall profit 14% to A$7.4 billion ($4.7 billion), just missing a Visible Alpha consensus forecast of A$7.56 billion. But analysts expressed concern about a faster-than-expected narrowing of profit margin from the bank's retail unit, the only one of Australia's so-called big four lenders that has persisted with offering cash handouts to lure mortgage customers looking for a cheaper deal. The logo of the ANZ Bank is seen at Lambton Quay, in Wellington, New Zealand November 10, 2022. ANZ CEO Shayne Elliott denied forgoing margin to grow mortgages faster than the market, and challenged comments from other banks that have said they were intentionally slowing mortgage growth while competition eroded profit. ANZ declared a final dividend of 94 Australian cents per share, up from 74 cents a year ago.

Persons: NIM, Lucy Craymer, Shayne Elliott, we've, Byron Kaye, Rishav Chatterjee, Roushni Nair, Lisa Shumaker, Stephen Coates Organizations: ANZ, Westpac, National Australia Bank, midsession, ANZ Bank, REUTERS, UBS, Thomson Locations: Melbourne, Lambton Quay, Wellington , New Zealand, Sydney, Bengaluru

☆ Australia's ANZ sinks as record annual profit falls short of market forecasts
▼ + stars: | 2023-11-12 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

The logo of the ANZ Bank is seen at Lambton Quay, in Wellington, New Zealand November 10, 2022. The banking group's Aussie commercial business recorded 11% revenue growth over the year with lending rising to record high of A$62 billion. ANZ intends to expand its commercial business with focus on its currency and payment sites while reducing costs, it said. ANZ declared a final dividend of 94 Australian cents apiece, up from 74 Australian cents apiece announced a year ago. ANZ, however flagged that the external environment will likely remain challenging adding that higher interest rates will impact economic activity as it sees "another year of cost-of-living pressures."

Persons: Lucy Craymer, Azib Khan, Rishav Chatterjee, Roushni Nair, Grant McCool, Lisa Shumaker Organizations: ANZ Bank, REUTERS, ANZ, Citi, P Capital, Suncorp, Thomson Locations: Lambton Quay, Wellington , New Zealand, Australia, Bengaluru

☆ Aussie 'big four' banks hike home loan rates after RBA decision
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

People use Commonwealth Bank of Australia (CBA) bank ATMs in Sydney, Australia May 3, 2018. The National Australia Bank (NAB.AX), ANZ Group Holdings (ANZ.AX) and Westpac Banking Corp (WBC.AX), the other three of Australia's "big four", had hiked their home loan rates on Wednesday by 0.25%. The rate hike by the National Australia Bank (NAB.AX) and ANZ Group Holdings (ANZ.AX) would be effective from Nov. 17, while Westpac Banking Corp (WBC.AX) would raise rates from Nov. 21, the lenders said in separate statements on Wednesday. CBA said its home loan variable rate change would be effective from Nov. 17. Reporting by Rishav Chatterjee and Upasana Singh in Bengaluru; Editing by Savio D'Souza and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Edgar Su, Rishav Chatterjee, Upasana Singh, Savio D'Souza, Rashmi Organizations: Commonwealth Bank of Australia, REUTERS, Thursday, National Australia Bank, ANZ Group Holdings, Westpac Banking Corp, Reserve Bank of Australia, Wednesday, CBA, Thomson Locations: Sydney, Australia, Bengaluru

☆ Singapore Airlines posts record half-year profit as air travel demand soars
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

A Singapore Airlines plane is seen among the planes in the static display at the Singapore Airshow in Singapore, February 16, 2022. "The robust demand for air travel continued into the Northern Summer travel season, led by the rebound in passenger traffic to North Asia with the full reopening of China, Hong Kong SAR, Japan, and Taiwan," the airline said in a statement. Singapore Airlines and its budget arm, Scoot, carried around 17.4 million passengers during the half-year, an increase of 52.3% year-on-year. The firm also intends to redeem 50% of the zero-coupon mandatory convertible bonds (MCBs) that it issued in June 2021 to support its balance sheet amid an almost total shutdown of air travel during the pandemic. ($1 = 1.3543 Singapore dollars)Reporting by Rishav Chatterjee and Nausheen Thusoo in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: Caroline Chia, Rishav Chatterjee, Nausheen, Janane Organizations: Singapore Airlines, Singapore, REUTERS, Companies, India, Air India, India's Tata Group, Thomson Locations: Singapore, Asia, North Asia, China , Hong Kong SAR, Japan, Taiwan, Bengaluru

☆ Japan's Mitsui to buy 12.7% stake in Axiata's digital and analytics unit
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Lim Huey Teng/File Photo Acquire Licensing RightsNov 2 (Reuters) - Japanese trading house Mitsui (8031.T) will take a 12.69% stake in Axiata Group's (AXIA.KL) digital and analytics unit, the Malaysian telecommunications conglomerate said on Thursday. Mitsui will invest $58 million in Axiata Digital & Analytics (ADA) through ADA's holding company, Axiata Digital Services. Mitsui's latest investment currently values the digital and analytics firm at $550 million. "Through this additional investment, Mitsui will provide ADA's marketing solutions and data analysis services to Mitsui's important partners and investees to help accelerate their marketing DX efforts," the Japanese firm said. Mitsui will also acquire an additional 16.7% stake in Axiata Digital Services, beefing it up to 20%.

Persons: Lim Huey Teng, Axiata, Rishav Chatterjee, Sonia Cheema Organizations: REUTERS, Mitsui, Axiata, Analytics, Axiata Digital Services, Thomson Locations: Kuala Lumpur, Malaysia, Malaysian, ADA's, Bengaluru

The Sydney-based financial conglomerate has not had a steeper first-half profit drop in more than a decade. The results capped a run of "exceptional conditions" last year in the company's commodity trading and asset management segments, buoyed by energy market volatility and ripe conditions for asset sales, respectively, Chief Financial Officer Alex Harvey told Reuters. Macquarie said the asset management division's income should rebound in the second half to about the A$940 million it reported in the same period last year. The company said fees and commissions at investment banking arm Macquarie Capital were in line with the previous comparable period. Profit fell 28% to A$430 million.

Persons: David Gray, Alex Harvey, Macquarie, Shemara Wikramanayake, Wikramanayake, Barrenjoey, Lewis Jackson, Roushni Nair, Rishav Chatterjee, Jamie Freed Organizations: Macquarie Group Ltd, REUTERS, Macquarie, Reuters, Citi, Investment, Thomson Locations: Sydney, Australia, SYDNEY, Ukraine, North America, Israel, Bengaluru

☆ Pilots at Qantas' unit halt planned two-day strike ahead of further talks
▼ + stars: | 2023-10-31 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

AFAP on Friday said that Network Aviation pilots will stop work on Wednesday and Thursday in a bid to negotiate wages. Australia's industrial relations tribunal, the Fair Works Commission (FWC), presided over a series of talks between pilots and the airline on Monday. AFAP members – who make up 90% of the pilot group at Network Aviation – won't be engaging in protected action until next week's bargaining sessions are completed, the pilots' union said. Meanwhile, Qantas expressed disappointment over the union choosing to "cause disruption and uncertainty" by threatening the strike, a few days before a meeting with the FWC. The airline will continue to work with the FWC over coming weeks to seek a resolution, it added.

Persons: Loren Elliott, AFAP, –, Tim Waterer, FWC, Rishav Chatterjee, Ayushman Ojha, Mrigank Dhaniwala Organizations: Qantas, Kingsford Smith International Airport, REUTERS, Pilots, Network Aviation, Qantas Airways, Australian Federation of Pilots, Qantas Group, Fair Works Commission, Thomson Locations: Sydney, Australia, Bengaluru

Customers seen in the self-service checkout area of a Coles supermarket in Sydney, Australia, June 17, 2020. REUTERS/Loren Elliott/File Photo/File Photo Acquire Licensing RightsOct 26 (Reuters) - Australian retailers are ramping up their tech security initiatives, including placing cameras at self-checkouts and body-worn cameras on staff, to combat a surge in stock theft and customer aggression aggravated by the cost of living crisis. "Unfortunately the data suggests it's continuing to occur," added Thomson, whose firm counts Coles and Woolworths as clients. Reports of store theft surged 23% in Australia's three largest states of New South Wales, Victoria and Queensland, home to three-quarters of the population, in the year to March 2023, according to the latest available government statistics, as COVID-related restrictions ended. Reports of threatening behaviour by shoppers rose to 17% of all security reports logged by Australian store staff in 2023, from 10% three years earlier, according to Auror data reviewed by Reuters.

Persons: Loren Elliott, Phil Thomson, Thomson, Coles, Leah Weckert, Weckert, Brad Banducci, Gerard Dwyer, Rishav Chatterjee, Byron Kaye, Praveen Menon, Christian Organizations: Coles, REUTERS, Woolworths, New, Reuters, National, of, Allied Employees Association, Thomson Locations: Sydney, Australia, New Zealand, Australia's, New South Wales, Victoria, Queensland, Bengaluru

☆ Rare-earths miner Lynas jumps as Malaysia allows key plant extension
▼ + stars: | 2023-10-25 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. The licence extension comes despite concerns raised in recent years by Malaysia regarding radiation levels from the cracking and leaching operations during raw material processing. Science and technology minister Chang Lih Kang said Lynas will be allowed to import radioactive material and continue processing rare earths, provided the firm carries out thorium extraction to remove radioactive waste. The brokerage also lifted its price target on the biggest rare earths miner outside of China by 3% to A$7.70 and upgraded the earnings outlook for a near-term period. Lynas' Malaysia refinery, its first outside China, has been embroiled in a radiation dispute at the plant with Lynas challenging an earlier ruling that would have halted operations.

Persons: Dado Ruvic, Chang Lih Kang, Lynas, Rishav Chatterjee, Janane Organizations: REUTERS, Lynas, Macquarie, Malaysian, Thomson Locations: Malaysia, Lynas Malaysia, Pahang, China, Western Australia, Bengaluru

☆ Qantas scraps plan to buy Alliance Aviation amid regulatory hurdle
▼ + stars: | 2023-10-18 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

Qantas Airways QF100 flight, which marks the airline's 100th birthday, departs from Sydney Airport to fly over Sydney Harbour in Australia, November 16, 2020. Qantas shares fell 2.7% to A$4.7 in early trade, whereas Alliance shed around 1%. He added that Qantas is dealing with a brand crisis, a part of which is tied to perceptions that the company acts anti-competitively. Qantas is not the only airline that is aiming to expand charter service offerings with smaller peer Regional Express Holdings (REX.AX) buying charter operator National Jet Express in July 2022. ($1 = 1.5785 Australian dollars)Reporting by Rishav Chatterjee in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Gregg Porteous, Tim Waterer, Kyle Rodda, Rishav Chatterjee, Shailesh Organizations: Qantas Airways QF100, Sydney Airport, Sydney Harbour, Handout, REUTERS, Qantas, Qantas Airways, Aviation Services, Australian Competition, Consumer Commission, Alliance, KCM Trade, Capital.com, Regional Express Holdings, National Jet Express, Thomson Locations: Australia, Bengaluru

☆ Rio Tinto cuts Canada iron ore production estimate on extended plant outage
▼ + stars: | 2023-10-16 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

REUTERS/Chris Helgren/File PhotoThe world’s biggest iron ore producer expects an iron ore output of 9.3 million to 9.8 million tons (mt) from its Iron Ore Company of Canada (IOC) business, down from 10.0 to 11.0 mt previously projected. Rio reported a 1.2% rise in its third-quarter iron ore shipments, as it ramped up production at the Gudai-Darri mine. It shipped 83.9 mt of iron ore from Pilbara in the September quarter, compared with 82.9 mt a year earlier. The miner, which generates 70% of its profit from its iron ore operations, saw prices of the commodity improve as top consumer China stepped up its stimulus efforts. Rio realised a 5% increase in mined copper output to 169,000 tons, reflecting a ramp-up of high-grade underground Oyu Tolgoi mine and higher feed grades at Escondida.

Persons: Chris Helgren, Rio, ”, Kyle Rodda Organizations: Reuters, Rio Tinto, Developers Association of Canada, REUTERS, Iron Ore Company, Canada, IOC, “, Capital.com Locations: Rio, Toronto , Ontario, Canada, Northern Quebec, Pilbara, China, Escondida

☆ Albemarle pushed into corner, dumps $4.2 billion lithium play for Liontown
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ernest Scheyder/File Photo Acquire Licensing RightsMELBOURNE, Oct 16 (Reuters) - U.S.-based miner Albemarle (ALB.N) said it had dumped a A$6.6 billion ($4.16 billion) buyout bid for Australian lithium developer Liontown Resources (LTR.AX), in part because of "growing complexities" around the transaction. Liontown went into trading halt just after making the announcement to the market, pending a finalisation of funding for its flagship Kathleen Valley lithium project in Western Australia, which is due to start producing lithium next year. Liontown had last week granted the world's biggest lithium chemical maker an extra week to examine its books and allow Albemarle to put forward a binding offer. "Our engagement with the Liontown team has been meaningful and productive. Hancock has not yet approached Liontown which until now has been under an exclusivity deal with Albemarle, the source added.

Persons: Ernest Scheyder, Albemarle, Hancock, Gina Rinehart, Liontown, Kathleen Valley, Kent Masters, Melanie Burton, Scott Murdoch, Rishav Chatterjee, Lisa Shumaker, Sandra Maler, Jamie Freed Organizations: REUTERS, Rights, Liontown Resources, Ford Motor, LG Energy, Thomson Locations: Silver, , Nevada, U.S, Albemarle, Western Australia, Melbourne, Sydney, Bengaluru

☆ Qantas Chairman Richard Goyder to exit late next year
▼ + stars: | 2023-10-10 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

Qantas aircraft are seen on the tarmac at Melbourne International Airport in Melbourne, Australia, November 6, 2018. REUTERS/Phil Noble///File Photo Acquire Licensing RightsSummaryCompanies Goyder to retire in late 2024 prior to AGMQantas' recovery after pandemic has not been easy - GoyderOct 11 (Reuters) - The chairman of Australia's Qantas Airways (QAN.AX), Richard Goyder, will leave the flag carrier in late 2024, the company said, as the embattled airline looks to rebuild its tarnished reputation. Goyder had indicated support from the company's biggest shareholders in his appearance in front of the committee. "As a board, we acknowledge the significant reputational and customer service issues facing the group and recognise that accountability is required to restore trust," Goyder said. Qantas said it has initiated the process to pick a new chairman.

Persons: Phil Noble, Richard Goyder, Goyder, Alan Joyce, Josh Gilbert, Josh, Rishav Chatterjee, Maju Samuel Organizations: Qantas, Melbourne International Airport, REUTERS, Qantas Airways, company's, High, Australia, eToro AUS, Thomson Locations: Melbourne, Australia, Bengaluru

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Country Garden, China's largest private property developer, has not defaulted so far, but has missed coupon payments on some dollar bonds since last month and faces the end of 30-day grace periods for making payments from next week. In a filing with the Hong Kong stock exchange on Tuesday, Country Garden said that its sales and financing were facing "significant challenges", and its available funds have continued to decrease. Country Garden was due on Monday to pay $66.8 million in coupons on 2024 and 2026 dollar bonds, although the payments have a 30-day grace period. ($1 = 7.8284 Hong Kong dollars)Reporting by Scott Murdoch in Sydney and Xie Yu in Hong Kong; additional reporting Rishav Chatterjee in Bengaluru and Clare Jim in Hong Kong; Editing by Rashmi Aich, Lincoln Feast, Jamie Freed and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, homebuyers, Houlihan Lokey, Sidley Austin, Jeff Zhang, Sandra Chow, CreditSight's, Scott Murdoch, Xie Yu, Rishav Chatterjee, Clare Jim, Rashmi Aich, Lincoln, Jamie Freed, Kim Coghill Organizations: Shanghai Country Garden, REUTERS, HK, Hong, China International Capital Corporation, Asia, China Evergrande, Investment, Thomson Locations: Shanghai, China, HONG KONG, Hong Kong, Beijing, Sydney, Bengaluru, Clare

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Companies accounting for 40% of Chinese home sales - mostly private property developers - have defaulted on debt obligations since a liquidity crisis hit the sector in 2021, leaving many homes unfinished. The developer had been working towards announcing a restructure of its offshore debt, Chinese media reported on Monday. Country Garden faces another big test next week when its entire offshore debt could be deemed in default if it fails to pay a $15 million September coupon by Oct. 17. "The difficult situation shows that Chinese developers face severe liquidity pressure from weak home sales, and repayment to bondholders is still a lower priority," said Gary Ng, senior economist at Natixis Corporate and Investment Bank.

Persons: Aly, Houlihan Lokey, Sidley Austin, Morningstar, Jeff Zhang, Sandra Chow, CreditSight's, Gary Ng, Scott Murdoch, Xie Yu, Rishav Chatterjee, Rashmi Aich, Lincoln, Jamie Freed 私 Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, HK, Hong Kong Stock Exchange, China International Capital Corporation, Asia, Natixis Corporate, Investment Bank Locations: Shanghai, China, HONG KONG, Hong Kong, Sydney, Bengaluru

☆ Australia's Westpac fails to sell pacific banking business
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

A woman exits the ground floor of an office building with Westpac logo amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. "Any failure to successfully divest businesses means that we may have sustained exposure to higher operating costs and to the higher inherent risks in those businesses," Westpac had told the market during its interim results in May. The bank would be starting a new brand campaign in the months ahead in both the countries in a move to improve its standing in local markets, Anthony Miller, CEO of Westpac business and wealth division said in a statement. The company said its pacific business was continuing to see growth along with operational recovery post COVID, which presented Westpac an option to invest in the operations. ($1 = 1.5863 Australian dollars)Reporting by Rishav Chatterjee in Bengaluru; Additional Reporting by Ayushman Ojha; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Loren Elliott, Anthony Miller, Rishav Chatterjee, Ayushman Ojha, Rashmi Organizations: Westpac, Central Business District of, REUTERS, Kina Securities, Thomson Locations: Central Business District of Sydney, Australia, Fiji, Papua New Guinea, Bengaluru

☆ Cathay Pacific buys 32 Airbus A321-200neo aircraft for $4.66 billion
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Sept 29 (Reuters) - Hong Kong's Cathay Pacific Airways (0293.HK) said on Friday it had purchased 32 Airbus A321-200neo aircraft from Airbus (AIR.PA) for a basic price of $4.66 billion. The deal follows an agreement between an Airbus unit and the aircraft acquisition facilitators of Hong Kong's flagship carrier in September 2017. Cathay expects the aircraft to be delivered by the end of 2029, and expand the fleet capacity of Hong Kong Express, one of its units. Hong Kong-based conglomerate Swire Pacific (0019.HK) and Air China (601111.SS), which together hold more than 50% of the voting rights in Cathay, have approved the deal, the airline said in a filing. "Swire Pacific and Air China do not have any interest in the transaction other than as shareholders," Cathay said.

Persons: Hong, Rishav Chatterjee, Devika Organizations: Cathay Pacific Airways, HK, Airbus, Hong Kong's, Cathay, Hong Kong Express, Swire Pacific, Air, Thomson Locations: Hong Kong, Air China, Cathay, Bengaluru

☆ Qantas charter unit's pilots vote in favour of protected industrial action
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

Three pilot groups, including pilots from aircraft charter company Network Aviation, have been negotiating with Qantas management over wage policy revisions. A spokesperson for QantasLink, an airline brand of Qantas, termed the step towards industrial action by the AFAP as "disappointing". "We have already reached in-principle agreement with the two other unions representing Network Aviation pilots, and we're continuing to negotiate in good faith to secure new agreements with our turboprop pilots." There are contingency plans in place to minimise disruptions to customers if the union proceeds with the industrial action, the spokesperson told Reuters. The AFAP also flagged the potential industrial action might impact certain charter flight operations to large mines and oil gas projects in Western Australia.

Persons: Loren Elliott, Rishav Chatterjee, Lewis Jackson, Aishwarya Nair, Rashmi Organizations: Qantas, Sydney Airport, REUTERS, Pilots, Network Aviation, Qantas Airways, Australian Federation of Air Pilots, Reuters, Network Aviation's, Thomson Locations: Sydney, Australia, Western Australia

☆ Newmont clears regulatory hurdle for Newcrest deal, awaits shareholder vote
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

The world's largest gold producer had in August received a clearance from Australia's competition regulator. Newmont also received a clearance from Japan's Fair Trade Commission last week, allowing the transaction to be closed anytime post September-end. If the deal goes through, Newcrest shareholders would receive 0.400 Newmont share for each share, with an implied value of A$29.27 a share. The deal still awaits the crucial Newcrest shareholder vote, scheduled for Oct. 13, as well as nods from regulators in the Philippines and Papua New Guinea. Australia's largest gold miner, Newcrest, had in May backed the takeover offer from Newmont, in what would be the third-largest deal ever involving an Australian company.

Persons: Dado Ruvic, Newmont, Newcrest, Rishav Chatterjee, Shilpi Majumdar Organizations: REUTERS, Newmont Corp, Foreign Investment, Board, Fair Trade, Reuters, Thomson Locations: Philippines, Papua New Guinea, Newmont, Bengaluru

☆ Macquarie, Columbia Asia among bidders for Ramsay-Sime Darby $1.3 bln healthcare JV - sources
▼ + stars: | 2023-09-13 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +1 min

REUTERS/FILE/David Gray Acquire Licensing RightsSept 13 (Reuters) - Australia's Macquarie (MQG.AX) and Malaysian hospital chain Columbia Asia are among the bidders for the acquisition of a healthcare joint venture between Ramsay Health Care and Sime Darby, according to sources familiar with the matter. Ramsay Health Care (RHC.AX) and Malaysian conglomerate Sime Darby (SIME.KL) in June announced their plan to sell Ramsay Sime Darby Health Care (RSD) in a deal that could value the Asia-focused joint venture at 6 billion ringgit ($1.28 billion). Macquarie has been investing in the healthcare sector since 2005 and has been operating in Malaysia for over 24 years, while Columbia Asia has been running medical facilities across Southeast Asia with significant presence in Malaysia. Bloomberg had earlier reported that a unit of Kuala Lumpur- listed Sunway Bhd was also among the shortlisted bidders along with Columbia Asia and Macquarie. Columbia Asia, Macquarie, Sunway, Ramsay and Sime Darby did not immediately respond to a request for comment.

Persons: David Gray, Macquarie, Sime Darby, Ramsay, Ramsay Sime Darby, Rishav Chatterjee, Saumyadeb Organizations: Macquarie Group Ltd, Ramsay Health Care, Sime, Ramsay Sime, Ramsay Sime Darby Health, IHH Healthcare, KKR, Co Inc, Columbia, Bloomberg, Thomson Locations: Sydney, Australia, Columbia Asia, Malaysian, Asia, Malaysia, Southeast Asia, Kuala Lumpur, Macquarie . Columbia Asia, Macquarie, Sunway, Bengaluru, Yantoultra, Singapore

☆ China Evergrande delays decision on offshore debt restructuring to October
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

An aerial view shows the 39 buildings developed by China Evergrande Group that authorities have issued demolition order, on the man-made Ocean Flower Island in Danzhou, Hainan province, China January 6, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsSept 8 (Reuters) - Embattled property developer China Evergrande Group (3333.HK) said on Friday it has delayed making a decision on offshore debt restructuring from September to next month. The company delayed the decision to allow Hong Kong CEG class holders of debt more time to consider its fresh restructuring plan. The meetings for CEG class A and class C debt holders were earlier scheduled for Sept. 26. Evergrande is at the centre of a crisis in China's property sector that has seen a string of debt defaults since late 2021.

Persons: Aly, Evergrande, Rishav Chatterjee, Shinjini Organizations: China Evergrande Group, REUTERS, China Evergrande, HK, Thomson Locations: Danzhou, Hainan province, China, Hong Kong, China's, Bengaluru

☆ StanChart to sell jet leasing arm to Saudi wealth fund unit for $3.6 bln
▼ + stars: | 2023-08-28 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. Riyadh-headquartered AviLease, also known as Aircraft Leasing Co, is a jet lessor owned by Saudi Arabia's sovereign wealth fund. StanChart said in January it was exploring options for its global aviation finance business. Dublin-based Standard Chartered Aviation Finance owns and manages more than 120 aircraft and offers services including jet fuel hedging, debt financing and remarketing of unneeded planes. PIF is setting up startup carrier Riyadh Air to predominantly serve the kingdom’s capital, which has ambitions to become a global business hub.

Persons: Peter Nicholls, StanChart, Simon Cooper, Airfinance, Fahad Al, Saif, AviLease, Rishav Chatterjee, Shounak Dasgupta, Mark Potter Organizations: Chartered, REUTERS, Aircraft Leasing Co, Chartered Aviation Finance, Aviation Finance, Corporate, Institutional Banking, Standard Chartered, Saudi Public Investment Fund, Riyadh Air, Thomson Locations: London, Britain, Saudi Arabia, Riyadh, Saudi, Dublin, Europe, Bengaluru

☆ Qantas to secure new planes from Airbus, Boeing
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The multi-billion dollar order is split between 12 Airbus A350s and 12 Boeing 787s, which will arrive from fiscal 2027 and into the next decade, Qantas said. Qantas said the deal was aimed at providing a replacement for its current Airbus A330 and Airbus A380 aircraft. This has the potential to meet up to 90% of the group’s interim SAF target for 2030, Qantas said. "SAF reduces lifecycle carbon emissions by up to 80 per cent and is a key part of Qantas’ emissions reduction plan," it said. Reuters earlier in the week had reported, citing industry sources, that Boeing was nearing a deal for its 787 Dreamliner aircraft with Qantas.

Persons: Loren Elliott, Vanessa Hudson, Stan Deal, Rishav Chatterjee, Shailesh Kuber, Maju Samuel Organizations: Qantas, Sydney Airport, REUTERS, Australia's Qantas Airways, Airbus, Boeing, SAF, Global, Incoming Qantas, Boeing Commercial Airplanes, Reuters, Thomson Locations: Australia, Sydney, Bengaluru

The property industry globally, and office building owners in particular, are struggling as working from home and e-commerce lead tenants to reconsider floor space just as higher interest rates reduce building values and raise debt servicing costs. Dexus sold the 18-story A-Grade office for A$293.1 million ($188 million), a 16.3% discount to its December 2022 valuation, according to company filings. Quintessential Equity, an Australian property developer and investor, announced itself as the buyer on its website without elaborating. Dexus will own a A$50 million stake in the trust that will hold the property, it said in a statement. In June, Dexus sold another premium office building in Sydney's central business district for A$393.1 million, a near 17% discount to an independent valuation made in December.

Persons: Loren Elliott, Dexus, Darren Steinberg, Lewis Jackson, Rishav Chatterjee, Subhranshu Sahu, Rashmi Aich, Sam Holmes Organizations: REUTERS, Rights, Reuters, Equity, Thomson Locations: Sydney, New South Wales, Australia, Australian, Bengaluru

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