Close brothers asset finance

Earlier this summer, Tesla announced its intention to split its stock—a surprise to many, since Tesla shares split just two years earlier . But shareholders obviously approved the additional split, as did Tesla’s board of directors, which officially okayed the 3-to-1 split on August 5. That split is now just a week away, but today is an important date for those hoping to benefit from it, too. Here are all the critical dates you need to know about Tesla’s upcoming stock split: advertisement Wednesday, August 17, 2022: Anyone wanting to receive two extra shares for each TSLA share they own needs to be a shareholder of record by this date. If you own TSLA shares on August 17, one week later you will receive two additional shares for each you own. Wednesday, August 24, 2022: One week after the shareholder of record cutoff is when TSLA shares actually split. After the stock market closes on August 24, TSLA shares will split 3-to-1, and by the next morning … [Read more...] about Tesla stock split: Date, day of record, and what happens next

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

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

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

- 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

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

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

Financial Supervisory Service Governor Lee Bok-hyun speaks at a press event held in western Seoul on Aug. 11. [NEWS1] The Financial Supervisory Service (FSS) has flagged 16 unregistered virtual asset service providers for marketing to domestic investors. All are based outside of Korea and have no formal domestic presence, the Korea Financial Intelligence Unit (KoFIU), part of the FSS, said Thursday. They include KuCoin, MEXC, Phemex, XT.com, ZB.com and Bitrue. KuCoin, headquartered in Seychelles, is one of the 10 largest crypto exchanges globally. These entities carried out business activities intended for domestic consumers as defined by the Act on Reporting and Using Specified Financial Transaction Information, the KoFIU said. Financial authorities in the jurisdictions hosting the service providers will be informed, credit card processing will be halted in the domestic market and transfers of virtual assets will be blocked. The 16 companies "were found to have been … [Read more...] about 16 unregistered crypto service providers busted by FSS

- A + A KUALA LUMPUR (Aug 18): Lambo Group Bhd said it was unaware of any wrongdoing related to its indirect wholly owned subsidiary Fujian Accsoft Technology Development, after China's finance ministry imposed a penalty on the subsidiary's auditor last month. Referring to an article on the sinchew.com.my website on July 13 relating to the penalty, Lambo said it was only made aware of the article by Bursa Malaysia Securities on Wednesday. “At this juncture, the company is not aware of any wrongdoing in connection to Fujian Accsoft. Nevertheless, the company will verify the contents of the article and to take necessary action, if any,” Lambo said. “The company reserves all comments and shall make the necessary announcement(s) as appropriate when there are further developments to this matter,” said the company in a bourse filing. China’s Global Times reported in July that the country's finance ministry had imposed an administrative fine against an accounting firm … [Read more...] about Lambo says not aware of any wrongdoing in China subsidiary

Representative image. In a major hack involving a cryptocurrency project, impersonators on Tuesday drained the cross-chain bridge Nomad of about $191 million, nearly emptying it of funds. The cross-chain bridge allows transfers between Avalanche (AVAX), Ethereum (ETH), Evmos (EVMOS), Milkomeda C1 and Moonbeam (GLMR). $190.7 million stolen According to aggregator DeFi TVL and analytics provider DefiLlama, the total amount taken stood at $190.7 million. After the hack, the total value locked with the project is $5,900, according to DefiLlama. Close At 9.32 UTC, 100 Wrapped Bitcoin (WBTC) worth $2.3 million were withdrawn from Nomad in the first unauthorised transaction. Even as the community raised an alarm of an exploit, Nomad stated that it knew of the incident involving the Nomad token bridge and that it was investigating and would provide updates in due course. “We’re aware of impersonators posing as Nomad and providing fraudulent addresses to … [Read more...] about Cross-chain bridge Nomad hacked, $191 million stolen