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Saudi tourism megaproject near to closing US$3.7b loan
SAUDI Arabia’s Red Sea Development Co. plans to close on a 14-billion riyal ($3.7 billion) loan from five domestic banks by the end of the year as it steps up construction on a luxury tourism project about the size of Belgium, its chief executive said.
Insight - Of white knights and super priorities
THE global economic tumult due to Covid-19 has brought into sharp focus the need for a more robust corporate restructuring and rescue framework to tackle financial distress threatening companies.
Pilbara says lithium prices may be near bottom
BENGALURU: Lithium prices may be bottoming, Australia’s Pilbara Minerals said on Thursday, supported by Covid-19 stimulus packages and government measures to boost the electric vehicle (EV) and renewable energy sectors.
Airbnb meets with bankers to extend US$1b debt facility
AIRBNB Inc on Wednesday held a phone meeting with bankers to discuss extending an existing $1 billion debt facility as the home rental start-up grapples with a slowdown due to the coronavirus, a source who participated in the meeting said.
Macron seeks more EU powers as Europe faces coronavirus meltdown
PARIS/BRUSSELS (Reuters) - French President Emmanuel Macron is leading a push for the European Union to acquire more powers to respond in healthcare emergencies, conscious that the EU risks being blamed for the continent's shortcomings in tackling the coronavirus outbreak.
Singapore Exchange has potential billion-dollar-deal war chest
SINGAPORE: Singapore Exchange Ltd. can explore a billion dollar’s worth of deals should it go ahead with a plan to tap debt for the first time since its initial public offering in 2000.
Khazanah unit secures RM100mil to build biogas plants
SHAH ALAM: Khazanah Nasional Bhd’s wholly-owned subsidiary Cenergi SEA Sdn Bhd has secured RM100mil to build about nine biogas plants across Peninsular Malaysia.
RAM reaffirms Ara Bintang AAA/negative rating
KUALA LUMPUR: RAM Ratings reaffirmed the AAA/Negative rating of Ara Bintang Bhd’s medium-term notes (MTN) under its RM1.25bil MTN programe.
Ramsay Sime Darby eyes portfolio expansion
Ramsay Sime Darby Health Care Sdn Bhd (RSDH), the 50% joint venture company of Sime Darby Bhd, is eyeing a strong expansion in Malaysia and the region.
Bumi Armada mulls asset monetisation
KUALA LUMPUR: The management of Bumi Armada Bhd is not considering equity fund raising but instead it is mulling asset monetisation, such as selling floating production storage and offloading (FPSO) stakes to partners, setting up private trusts (infrastructure funds) or tapping into an available debt facility of US$1.5bil.
