Asset based finance association

CALL FOR JUSTICE Members of the Rural Missionaries of the Philippines demand justice for Fr. Marcelito “Tito” Paez, who was gunned down by unidentified assailants on Monday in Jaen, Nueva Ecija, during a condemnation rally at Jamboree Rotunda on Tomas Morato Avenue in Quezon City in this photo taken in 2017. —GRIG C. MONTEGRANDE MANILA, Philippines – The Rural Missionaries of the Philippines (RMP) denounced what it said was a “Marcosian state attack” against some of its members, who are facing non-bailable charges for allegedly financing the Communist Party of the Philippines – New People’s Army (CPP-NPA). The Department of Justice earlier indicted 16 individuals, including four RMP nuns, claiming that the group’s bank accounts showed that those involved “made funds available to the CPP-NPA.” READ: Members of church-based org face non-bailable raps for terror financing In a statement on Thursday, the RMP called the move a “part of [the] worsening state repression against … [Read more...] about Missionary group cries foul over terrorist financing raps vs members

- A + A KUALA LUMPUR (Aug 18): Here is a brief look at some corporate announcements and news flow on Thursday (Aug 18), which include MISC Bhd, S P Setia Bhd, Gas Malaysia Bhd, Mega First Corp Bhd, Dayang Enterprise Holdings Bhd, Sunway Real Estate Investment Trust, Magnum Bhd, Dialog Group Bhd, Kobay Technology Bhd, AME Elite Consortium Bhd, and Lambo Group Bhd. MISC Bhd slipped into the red, with a net loss of RM19.1 million, for the second quarter ended June 30, 2022 (2QFY22), against a net profit of RM538.8 million for the same quarter last year, amid higher impairment losses on non-current assets and finance costs, as well as its share of losses from joint ventures. Quarterly revenue, in contrast, grew 36.47% to RM3.21 billion from RM2.35 billion a year ago. MISC declared a second tax-exempt dividend of seven sen per share. S P Setia Bhd 's net profit for 2QFY22 rose 6.95% to RM80.09 million from RM74.81 million a year earlier, mainly due to higher volume of … [Read more...] about MISC, S P Setia, Gas Malaysia, Mega First, Dayang Enterprise, Sunway REIT, Magnum, Dialog, Kobay, AME Elite Consortium, Lambo

SHANGHAI  – China’s first batch of publicly traded rental property real estate investment trusts (REITs) was snapped up in Shanghai and Shenzhen by yield-hungry investors this week, opening up a new financing channel for the struggling real estate sector. The three newly launched REITs, based on affordable rental properties, were each more than 100 times oversubscribed among institutional investors, managers said in filings. The REITs will raise a combined 3.8 billion yuan ($56 million), based on Reuters’ calculations, and the subscription periods ended early. The rental property REIT launches come as Beijing steps up efforts to aid the real estate business, a sector that was a pillar of growth in the world’s second-biggest economy over the last two decades but is now reeling amid debt piles, mortgage boycotts and sluggish sales. China launched a public REITs market based on infrastructure projects about a year ago, but this week’s launches mark the first time the REIT market has … [Read more...] about China’s first publicly traded rental property REITs snapped up by investors

Cryptobot steals your wallet and account credentials Around 120,000 “wrapped ethereum” (WETH) tokens, valued at around $320 million, have been stolen from the Wormhole portal, which allows easy transfer of cryptocurrencies and non-fungible tokens (NFTs) between solana and ethereum blockchains. A CNBC report described it as the second-biggest “decentralised finance (DeFI) heist” after the $600-million Poly Network crypto steal last year. The report also said it was the largest attack on solana, which is gaining popularity in NFT and DeFI spaces. Wormhole, which works closely with other chains like Avalanche, Binance Smart Chain, Oasis, Polygon, and Terra, allows users to take "wrapped" assets from one chain or platform and use them on another. By doing so, users can take advantage of lower fees across various platforms. Launched in August 2021, Wormhole holds around $1 billion in deposited funds. Wrapped assets refer to cryptos that are wrapped or enclosed in a digital … [Read more...] about Hackers steal $320 million from blockchain bridge Wormhole

This article first appeared in The Edge Malaysia Weekly, on August 1, 2022 - August 07, 2022. Ong has been active in the local corporate scene over the past few years. (Photo by Mohd Izwan Mohd Nazam/The Edge) - A + A CHEMICAL products distributor Hextar Global Bhd, the flagship company of Datuk Eddie Ong Choo Meng, is selling its manufacturing plant and the land on which it sits to KIP Real Estate Investment Trust (KIP REIT), in which Ong has a stake as well. Hextar Global, which bought the land in Klang in October 2005 for RM12.58 million, will lease back the assets after the sale. The company explains that the RM27 million sale is to unlock asset value and reduce its funding requirements. Nonetheless, Hextar Global’s asset sale is not that big a deal compared with that of its controlling shareholder Ong. The 44-year-old businessman is selling two industrial properties, namely warehouses and a factory, to KIP REIT for RM51.7 million cash. His original … [Read more...] about Hextar group boss continues acquisition spree

Share to Twitter Share to Linkedin This question, posed recently to the Quora web site, elicited some 40 answers from Quora’s roster of “experts”, of which I am one. Most answers fell into one of two categories. One group said “yes” –based mainly on the diverse (and mostly non-verifiable) benefits of being out of debt. The second said “it depends” – based mainly on the relationship between the interest rate being paid on the mortgage and the rate being earned on the financial assets that would be used to repay the mortgage. I was in the second group, but I appended my answer with a warning that the question deserves much greater thought than any of the experts, including me, had given it. This article is a response to that challenge. What Is the Objective? A retirement plan has two possible objectives. The objective that applies to every case is having enough spendable funds to meet anticipated needs. A second objective, relevant only to some retirees, … [Read more...] about If You Still Have A Mortgage, Should You Pay It Off At Retirement?

The Ayala Group’s energy unit, AC Energy Corp. (ACEN), has secured funding to develop renewable projects in Australia that are in its pipeline. In a disclosure, ACEN said that, as a guarantor to ACEN Australia Pty Ltd., it executed a common provisions agreement and a facility agreement between ACEN Australia and DBS Bank Ltd.’s Australia branch for a 100 million Australian dollars (about P3.9 billion) in long term revolving green loan facility. This is part of ACEN’s goal of raising more than AU$600 million to support the development of its projects in Australia. DBS was the sole arranger and sustainability adviser for the green loan facility which, according to ACEN, will provide capital financing for its eligible green assets in Australia, the first within the Ayala group. “Having pledged to achieve net zero financed emissions by 2050, DBS is also committed [to] supporting like-minded clients like ACEN in the long haul to enhance Asia’s renewable energy mix to realize a low … [Read more...] about ACEN taps funding for renewable projects in Australia

FILE MANILA, Philippines — The Astana Financial Services Authority (AFSA) has granted Binance preliminary authorization to operate a digital asset trading facility and offer custody at the Astana International Financial Center (AIFC). The world’s leading blockchain and cryptocurrency infrastructure provider will be able to operate a digital asset trading facility and custody in Kazakhstan. Binance’s CEO expressed his gratitude to AFSA for giving the trust to allow operations in Kazakhstan, stating Binance’s commitment to being a compliance-first exchange and providing products and services in a safe and well-regulated environment around the world. “Kazakhstan has shown itself to be a pioneer in Central Asian crypto adoption and regulation,” said Changpeng Zhao (CZ), founder and CEO of Binance. Gleb Kostarev, Regional Head of Asia at Binance, said “This is a landmark achievement for Binance in Kazakhstan. We are grateful to the Astana International Financial Center for their … [Read more...] about Binance secures approval for Kazakhstan operations

NFTs, or non-fungible tokens, are unique tokens that account for a digital asset. A big selling point of NFTs is that they cannot be replicated or destroyed. This makes them ideal for use cases such as ownership verification and collectibles. NFT technology has potential The current mainstream use case for NFTs is as a digital collectible or asset. There are a few key reasons why people are willing to spend real money on these virtual items. First, NFTs offer true ownership -- unlike in-game items that can be taken away at any time by the game developers. Second, NFTs can be resold or traded -- giving them an intrinsic value that can be realized. And, finally, NFTs can be used to show off status and achievements -- much like physical luxury items in the real world. There are a growing number of applications for NFTs across a range of industries. For example, NFTs could be used to represent ownership of digital art, or as loyalty points that can't be … [Read more...] about How to Move NFTs From Vanity to Utility

Make that four weeks in a row of gains for the U.S. stock market, as the rally has become undeniable. The S&P 500 and the Nasdaq both climbed more than 3% last week, with the the Dow up 2.9%. The S&P 500 has now climbed 15% from its lows in mid-June, while the Nasdaq has clawed back 20% since then. That could technically be described as a new bull market for the index. A 20% retracement from a recent low fits the bill—or the bull—but there are a lot of opinions about that. But we can't deny the strength of the rally, especially when we dig into the charts. The average stock in the Nasdaq Composite index is up 34% from its lows. Remember, just a few months ago, we were talking about the average Nasdaq stock being down 50% from its highs. The pendulum has swung back in a big way. Across the market, the breadth thrust has been pretty impressive. And no, that's not a swimming stroke. The breath trust indicator is a technical indicator used to ascertain market momentum … [Read more...] about Going Back to School with Stock Market Fundamentals