Hong Kong-listed Chun Wo Tunnel Management Limited has been awarded a six-year management contract of the Cross-Harbour Tunnel in Hong Kong for management, operation and maintenance services by the Transport Department of the city. The management contract commences on 1 November 2016, marking the company’s first step tapping the tunnel management business. Chun Wo Tunnel Management is a subsidiary of Chun Wo Development Holdings Limited. Leveraging Chun Wo’s extensive experience in construction and property management, its subsidiary company has won the six-year management, operation and maintenance contract of the Cross-Harbour Tunnel, representing a recognition of the company’s capability of delivering…
Author: Business News Asia
Business News Asia
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PharmaEngine, the Asia-Pacific partner of Nanobiotix (Euronext:Nano), has dosed its first patient in a new Phase I/II trial in patients with head and neck cancers patients receiving radiotherapy plus chemotherapy in October. The trial, according to Nanobiotix, is evaluating the optimal dose, safety and preliminary efficacy of Nanobiotix’s lead product. Nanobiotix is a late clinical-stage nanomedicine company pioneering novel approaches for the local treatment of cancer In a statement, Nanobiotix said PharmaEngine has broadened its development plan for NBTXR3 by launching this new trial in Asia targeting a new and larger head and neck cancer patient population. This follows the…
China’s pharmaceuticals giant Shanghai Pharmaceuticals Holdings Co has enjoyed steady growth in the third quarter of this year, according to its third quarterly report of 2016. According to the data, from January to September 2016, Shanghai Pharmaceuticals’ operating revenue was RMB90.517 billion, representing an increase of 14.52% on a YOY basis. Net profit attributable to the equity holders of the listed company was RMB2.457 billion, representing a YOY increase of 12.78%. Net profit attributable to the equity holders of the listed company after deduction of non-recurring profit or loss was RMB2.283 billion, representing a YOY increase of 11.13%, fulfilling earnings…
Wintermar Offshore Marine (IDX:WINS), an Indonesian offshore marine services firm, has posted profit growth of 197%, year-on-year, to USD7.1 million in the first nine months of this year, reflecting better cost controls despite continued pricing pressure. Wintermar Offshore Marine owns a fleet of 80 vessels ready to handle a large variety of marine support services required in upstream oil and gas exploration and production activities including transporting crew, equipment and supplies, as well as providing services such as anchor handling, towing, and mooring of offshore rigs. In a news release, the company said its owned vessels posted a 22% year-on-year…
Global land drilling rig manufacturer Honghua Group Limited (Honghua) announced that its wholly owned subsidiary, Shanghai Honghua Offshore Oil and Gas Equipment Co (Honghua Offshore), has entered into the first offshore LNG platform construction with Argo LNG Partners. Witnessed by experts and top companies in the LNG industry worldwide, the USD1.8-billion deal was signed by Honghua Offshore and Argo LNG Partners in Beijing. Honghua also announced that the group held the Sino-US LNG industry development seminar in Beijing on 28 October 2016, which also saw the “Sino-US Integrated Solution to LNG Industry” led by the Group along with the Sino-US…
GYC Financial Advisory Pte Ltd (GCY), a boutique wealth manager, has inked a platform deal with Dimensional Fund Advisors (Dimensional), a global investment firm, in Singapore. This new working relationship with Dimensional represents a break-through in Singapore’s investing landscape as GYC is now able to advise its clients who are individual accredited investors on Dimensional’s strategies, which were previously mostly only available to large institutions in Singapore. GYC’s HNW clients now have access to Dimensional’s renowned investment expertise, track record, and low cost fee structure. According to GYC, Dimensional’s equity strategies have total expense ratios (TER) from as low as…
More than 460 exhibitors are joining the 11 editions of Eco Expo Asia and the HKTDC Hong Kong International Building and Hardware Fair that opened Wednesday at the AsiaWorld-Expo in Hong Kong. The Eco Expo Asia is jointly organised by the Hong Kong Trade Development Council (HKTDC) and Messe Frankfurt (HK) Ltd, and co-organised by the Environment Bureau of the HKSAR Government. “The Hong Kong SAR Government attaches great importance to combating climate change, and actions are being taken on various fronts to reduce greenhouse gas emissions with a view to reducing the territory’s carbon intensity between 50% and 60%…
The world’s largest lighting fair, the Hong Kong International Lighting Fair, opened in Hong Kong with the number of exhibitors up 10% from the previous installments. Organized by the Hong Kong Trade Development Council (HKTDC), the 18th HKTDC Hong Kong International Lighting Fair (Autumn Edition) will feature, among others, Hall of Aura, which will house 530 local and international brands, including BJB, Citizen, EGLO, Lumileds, Neo-Neon and Megaman. To keep abreast of industry trends, more than 1,000 exhibitors are displaying a wide variety of energy-efficient products at the LED & Green Lighting zone, providing innovative energy-efficient lighting solutions. Other thematic…
The Insurance Commission, together with the insurance industry players in the country, will join the insurance regulators, leaders, policymakers and practitioners from the different ASEAN countries in the 2nd ASEAN Insurance Summit (AIS) to be held on November 23, 2016 in Yogyakarta, Indonesia. The AIS is organized by the ASEAN Insurance Council (AIC), a non-profit organization under the umbrella of the ASEAN Secretariat. The AIC was established in 1978 with the vision of creating a platform for insurance regulators, industry leaders, policymakers and influencers to network and share their knowledge as well as their expertise in various areas of insurance…
Taiwan’s topmost luxury mansion, King’s Residence, will kick off its official global sales in early November, according to its developer, King’s Town Construction Co Ltd (King’s Town), a leader property developer with long history and strong capabilities in Taiwan. King’s Residence is the only residential building in Southern Taiwan awarded both the “Earthquake Resistance Label” and the “Green Building Label” from the Taiwan Architecture Centre, and also the first building that is successfully acknowledged by the SRC earthquake resistance label in the Southern Taiwan. Enjoying a prime and prestigious location in Kaohsiung, the size of possession of land (including communal…
SINGAPORE – Medical services group HC Surgical Specialists Limited (HCSS) has launched its initial public offering (IPO) in conjunction with its proposed listing on the Catalist board of the Singapore Exchange Securities Trading Limited (SGX-ST). HCSS is offering 30 million new shares for subscription by way of placement at the issue price of S$0.27 per share. The Placement Shares, upon issue and allotment, will rank pari passu in all respects with the existing issued shares of the Company. The company aims to raise approximately USD6.15 million from its IPO and intends to use the amount for the following purposes: S$2.80…
JAPAN – Crab and shrimp shells have potential to enhance bone generation, wound healing and targeted drug delivery, according a review of the latest research. Combined with sugar obtained from crab and shrimp shells with a variety of nanonmaterials could lead to applications that enhance bone regeneration and wound healing. The review, published in the journal Science and Technology of Advanced Materials, provides an overview of the different nanomaterials that are being tested in combination with chitosan, the methods used to prepare the composite materials and the resultant properties that make them suitable for applications in the biomedical field. Chitosan…
A documentary on dangerous and treacherous journeys students have to take to get to school in a far flung are in the Philippines is this year’s winner of the Asia-Pacific Child Rights Awards for Television. The documentary, ‘Reel Time: Written on the Water’, produced and broadcast by GMA Network, highlights the dangerous trip to school for students who must wade through the sea and climb a mountain to go to school. ‘Reel Time: Written on the Water’ was praised by the jurors. “The show reflects the problems the children face,” they said. “It not only shows their difficult journey but…
ISR Capital Limited, an SGX Mainboard-listed firm in the business of proprietary investments and providing investment advisory services, focusing on the natural resource space, said a second appraisal on the rare earths mining concession in Madagascar that it is acquiring valued the mine at USD1.11 billion. The second valuation, conducted by Al Maynard & Associates Pty Ltd, a professional services consultancy firm of consulting geologists in the mineral industry which is based in Perth, Australia, was announced to the Singapore Exchange. The latest valuation followed an announcement on 16 July 2016 by ISR Capital that an appraisal by Geologica Pty…
Analyze Re, a software analytics provider for the reinsurance and insurance industries, is now part of AIR Worldwide (AIR) after being acquired by Verisk Analytics, Inc, a leading data analytics provider. The acquisition will enable AIR, a Verisk Analytics business, to provide its clients with additional real-time pricing, exposure management, and enterprise portfolio roll-up capabilities. “Clients are increasingly looking to track and reduce portfolio risk in real-time,” said Bill Churney, president of AIR Worldwide. “Analyze Re’s advanced analytics will complement our existing software solutions, enabling companies to manage their enterprise view of risk and perform multi-modeling and portfolio optimization, all…
Legends Holdings Chairman and Lenovo Founder Liu Chuanzhi said entrepreneurship, along with consumption and outbound investment, will provide a lifeline to propel the growth of China’s economy. “Entrepreneurship is not just a slogan in China,” Liu said, pointing to the success of Beijing’s Zhong guan cun, China’s equivalent of Silicon Valley. Liu, who was in Singapore on Thursday, Oct. 20 to give a talk detailing his entrepreneurial journey in growing Lenovo, expressed bullishness about China’s entrepreneurial streak saying this will drive China’s growth. “Strong consumption demand has not been fully satisfied and has room to grow,” he said about China…
Toyota Motor Corporation will start selling its fuel cell buses (FC buses) under the Toyota brand from early 2017, with plans to introduce over 100 of these buses mainly in the Tokyo area. In a news release, Toyota said the Bureau of Transportation of the Tokyo Metropolitan Government plans to utilize two FC buses as fixed-route buses, having already undergone repeated field tests for practical use. Toyota plans to introduce over 100 FC buses mainly in the Tokyo area, ahead of the Tokyo 2020 Olympic and Paralympic Games. In view of this, the FC buses will be sold for the…
PHILIPPINES – Global Gateway Development Corporation (GGDC) has celebrated the topping off of two commercial buildings – One West and Two West – in the 177-hectare Global Gateway Logistics City (GGLC) in the Clark Freeport Zone. In a statement, GGDC said GGLC is twice the size of Central, Hong Kong’s business district and the completion of the two buildings represents the first phase of the development of the 2.5-hectare West Aeropark. GGLC is divided into four lifestyle zones consisting of its Aeropark Office Campus, Central Business District, Retail Center and Logistics Park. When completed the city will offer more than…
AsiaWorld-Expo in Hong Kong will once again host the 11th edition of the Eco Expo Asia and the Hong Kong Trade Development Council (HKTDC) International Building and Hardware Fair from 26 to 29 October. MOre than 460 companies are expected to attend the events to showcase their green innovations, building produts and technologies. Eco Expo Asia is jointly organised by HKTDC and Messe Frankfurt (HK) Ltd, and co-organised by the Environment Bureau of the Hong Kong Special Administrative Region (HKSAR) Government. The expo is expected to welcome more than 320 exhibitors from 19 countries and regions. Among the 12 group…
Confidential data between multiple organizations can now be safely and securely handled after through the blockchain-based security technologies developed by Fujitsu Laboratories Ltd. and Fujitsu Laboratories of America, Inc. In a statement, the Japanese IT giant revealed that the most prominent characteristic of a blockchain is that it provides information sharing with high transparency and reliability, without management by a specific trusted organization. On the other hand, in financial trading applications, there are operational issues related to safely executing trades, such as key management. In addition, document management applications preserving the original state of documents lead to issues in creating…