UPDATE: JAPAN GOVERNMENT APPROVES TEPCO SUPPORT BILL
The Japanese government on Tuesday approved a bill to help Tokyo
Electric Power Co. pay compensation to those affected by the
accident at the Fukushima Daiichi nuclear plant, helping to soothe
concerns over the utility's financial condition that have pushed
its shares to all-time lows. (published 0133 GMT)
UPDATE: QANTAS SUSPENDS NZ, SOME AUSTRALIA FLIGHTS DUE TO ASH CLOUD
Australia's two largest airlines made different decisions on how
to deal with a volcanic ash cloud on Tuesday, with Qantas Airways
Ltd. continuing to suspend some flights but Virgin Australia Ltd.
resuming all services. (published 2341 GMT)
IAG ASSESSING IMPACT OF RECENT NZ EARTHQUAKES ON FY GUIDANCE
Insurance Australia Group Ltd said Tuesday that it's too early
to assess whether earthquakes in New Zealand on Sunday will impact
its annual margin guidance. (published 2321 GMT)
HASTIE GROUP PLANS UNDERWRITTEN A$160M EQUITY RAISING
Building technical services company Hastie Group Ltd. said
Tuesday it plans to launch an underwritten 160 million Australian
dollar equity raising to repay bank debt. (published 0058 GMT)
TERRITORY RESOURCES BOARD UNANIMOUSLY RECOMMENDS NOBLE GROUP'S CASH OFFER
The board of Territory Resources Ltd. recommended its
shareholders accept a cash offer by Noble Group Ltd. to buy the
remaining shares of the Australian miner that Noble doesn't already
own, unless a rival South African bidder comes up with a better
proposal. (published 0025 GMT)
KOREA EXPRESS STAKE SALE DEADLINE CHANGED TO JUNE 27 FROM JUNE 29 - SOURCE
The main shareholders of Korea Express Co. will collect the
final bids for the sale of a controlling stake in the logistics
company by June 27 in a revised schedule, a person familiar with
the deal said Tuesday. (published 0051 GMT)
S KOREA FSC WON'T ALLOW KDB FINANCIAL TO BID FOR WOORI FINANCE - FSC OFFICIAL
South Korea's government won't allow state-owned KDB Financial
Group to bid for a majority stake in Woori Finance Holdings Co., an
official at the Financial Services Commission said Tuesday, news
that deals a heavy blow to the Woori auction. (published 0111
GMT)
OLAM INTERNATIONAL EXTENDS CLOSING DATE FOR OFFER TO BUY NZ FARMING SYSTEMS TO JUNE 29
Olam International Ltd. said Tuesday it has extended the closing
date for an offer to buy all the shares in NZ Farming Systems
Uruguay Ltd. that it doesn't already own to June 29 to give
shareholders more time to consider the proposal. (published 0107
GMT)
UNITED FIBER SYSTEM GETS S$166.8M HOUSING CONTRACT IN SINGAPORE
United Fiber System Ltd. said its unit has been awarded a
building contract worth S$166.8 million from Impac Holdings Pte
Ltd., a member of the City Development Limited Group, for the
construction of condominium in Singapore. (published 2320 GMT)
HEARTLAND NEW ZEALAND TO PURCHASE PGG WRIGHTSON'S FINANCE UNIT
Finance company Heartland New Zealand will purchase the finance
unit of PGG Wrightson as it grows its portfolio ahead of becoming a
bank, the newly formed Heartland said Tuesday. (published 0128
GMT)