Latest news with #Thailand-based
Time of India
3 days ago
- Business
- Time of India
Welcure Drugs & Pharmaceuticals signs Rs 517 crore supply mandate with Thailand firm
Welcure Drugs & Pharmaceuticals on Wednesday said it has executed a definitive mandate for third-party sourcing and procurement services aggregating to Rs 517 crore with Thailand-based Fortune Sagar Impex Company . Welcure Drugs & Pharmaceuticals Ltd will engage in sourcing and procurement of multiple finished-dosage SKUs, the company stated in an exchange filing. Built on a fee-based model, the company will earn a fixed 5 per cent commission on the cost of goods, the filing stated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More The estimated service income of Rs 25.85 crore is expected for FY 2025-26, substantially adding to Welcure's revenue. The mandate enhances Welcure's fee-based portfolio without incremental balance-sheet exposure, making this a high-margin growth opportunity for the company, the filing stated. Live Events The Thailand-based firm will be responsible for packaging, labelling, containerisation, insurance, freight and all destination-country regulatory clearances. Shares of the company rose by 5 per cent to hit the upper limit at Rs 13.74 after the announcement.
The Star
5 days ago
- Business
- The Star
Trading ideas: MBSB, FGV, Malakoff, Berjaya Land, Solarvest, Deleum, CIMB, Compugates, Sersol, Poh Kong
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. MBSB Bhd has approved Islamic financing facilities totalling RM180.0mn for Mag Holdings Bhd to strengthen its operations across the halal aquaculture value chain. The Federal Land Development Authority today said it has dispatched the offer documents for its plan to privatise FGV Holdings Bhd , with the offer closing at 5pm on 7 July 2025, unless extended. Malakoff Corporation Bhd 's unit Malakoff Radiance Sdn Bhd has teamed up with New Energy Asia Sdn Bhd to jointly deploy electric vehicle charging infrastructure. Berjaya Land Bhd has signed a memorandum of understanding with Sweden-based SIBS Sdn Bhd to deliver climate-resilient modular housing in Greenland. Solarvest Holdings Bhd has, via a joint venture company, secured a 25-year power purchase agreement with the government of Brunei to invest in, build, and operate a 30MWac solar photovoltaic power plant. Deleum Bhd , through its indirect unit Deleum Oilfield Solutions (Thailand) Co Ltd, is buying Thailand-based MPC Future Co Ltd's oilfield service assets and business for RM60.0mn through a combination of cash and share issuance in a subsidiary. Former head honcho of Securities Commission Malaysia, Datuk Syed Zaid Albar will take over as group chairman of CIMB Group Holdings Bhd from Tan Sri Mohd Nasir Ahmad, effective 20 July 2025. Compugates Holdings Bhd executive director See Thoo Chan has acquired 7.1mn shares or 0.12% stake in Compugates for RM106,299. He now holds a direct interest of 7.9%. Sersol Bhd 's executive director Datuk Mohamed Suffian Awang has reemerged as the company's largest shareholder, after acquiring a 13.7% stake. Poh Kong Holdings Bhd 's 3QFY25 net profit came in almost unchanged at RM47.6mn compared to RM47.7mn a year ago mainly due to higher income tax and operating expenses.
Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
Deleum expands Thai footprint with RM60m oilfield acquisition
DELEUM Bhd is expanding its regional presence with a proposed acquisition of an oilfield services business in Thailand worth RM60 million, as part of efforts to scale up its operations in the region. According to a filing with Bursa Malaysia, its indirect subsidiary Deleum Oilfield Solutions (Thailand) Co Ltd (DOST) has entered into a sale and purchase agreement with Thailand-based MPC Future Co Ltd to acquire the latter's oil and gas business and assets — excluding its e-line operations. The RM60 million consideration comprises the issuance of new ordinary and preference shares in DOST to MPC, amounting to a combined 48.34% stake in the Thai entity, and a cash payment for the remainder of the deal value. The cash portion will be funded via bank borrowings from Deleum's wholly owned unit, Deleum Services Sdn Bhd (DSSB). As part of the deal structure, DOST will also issue a 1.73% stake to a local entity controlled by Suthee Chivaphongse — who is currently a director and major shareholder of DOST — for THB10 million under a separate subscription agreement. This related party transaction is intended to retain local expertise and is not expected to materially affect the group's financial position. The target business comprises slickline, hydraulic workover and wellhead maintenance services, as well as related assets valued at about RM50 million as of June 2024. The acquisition includes operational contracts, equipment, and leases tied to the business. Upon completion, DOST's paid-up capital will rise to THB576.8 million, with DSSB retaining control by holding a 49.93% stake and the right to appoint a majority of directors. The remaining shares will be held by MPC and the Suthee-controlled entity. The acquisition is subject to several conditions precedent and completion is expected in the second half of 2025. Deleum said the acquisition is a strategic move to grow its presence in Thailand and achieve operational synergies through DOST. The proposed transaction will strengthen DOST's oil and gas services segment and is expected to be value-accretive to the group over the long term. The transaction will not impact Deleum's share capital or shareholder structure, but may raise its gearing level. Nonetheless, the board believes it remains at a manageable level. The board and audit committee concluded that both the acquisition and related party subscription are fair, on commercial terms, and in the best interest of the group and minority shareholders. — TMR
Observer
09-06-2025
- Business
- Observer
$5 billion boost for Shariah housing in Oman and GCC
MUSCAT: A major regional investment firm aims to accelerate the development of affordable, Shariah-compliant housing in Oman and the wider GCC, following a new strategic partnership between international finance institutions. BCIB Holding Co, Ltd, a Thailand-based financial service and investment banking firm, has acquired a 20 per cent stake in Amwalus Finance LLC, a US-incorporated financial institution with strategic operations in Oman, aligning both companies to jointly scale ethical housing finance solutions across the region. The investment is supported by a $5 billion Medium Term Note (MTN) issued by Bastion Commonwealth Investment Bank, the banking arm of BCIB Holding. According to BCIB Holding Co, the proceeds from the MTN will be used to finance housing projects that adhere to Islamic finance principles, addressing the growing demand for inclusive and affordable residential solutions in Oman and neighbouring Gulf countries. The agreement was formalised in a signing ceremony between Low Chun Keong, Managing Director of BCIB Holding, and Wassem Mesto, Managing Director of Amwalus Finance LLC, a wholly owned subsidiary of US-based Amwalus Trust. The ceremony was also attended by Dr Chutamas Vongvorakit, Co-founder and Chief Financial Officer of BCIB Holding. 'This strategic investment, backed by institutional financing through Bastion Commonwealth Investment Bank, underscores our commitment to fostering inclusive and sustainable development in Oman and across the region,' said Low. Amwalus Finance focuses on Shariah-compliant financing for affordable housing. With the new capital injection and support from its strategic partner, the company plans to expand its housing solutions across the GCC, targeting underserved communities. Wassem Mesto welcomed the partnership as a milestone for the company's mission. 'We are proud to welcome BCIB Holding as a key strategic partner in our mission to provide dignified, affordable housing guided by Islamic finance principles,' he said. 'With this collaboration, and the support of Bastion Commonwealth Investment Bank, we are well-positioned to scale our impact across the GCC and meet the growing demand for ethical, inclusive housing solutions.' The alliance reflects BCIB Holding's broader goal to promote long-term socioeconomic development through innovative Islamic financial instruments, with a particular focus on infrastructure and housing. Oman, which is advancing national priorities under Vision 2040, is expected to be a central focus of these investments.
New York Post
04-06-2025
- Entertainment
- New York Post
Miss Grand International 2024 calls out pageant for 'toxicity'
She's giving up her title. Rather than receiving the royal treatment after winning a worldwide beauty pageant in 2024, Rachel Gupta claims she was treated like second-class citizen — abandoned in a 'dilapidated' house sans food, phone, money or security. 'The whole time that I was working with Miss Grand International, the last seven months, I was constantly harassed, manipulated, ignored and left to fend for myself,' a sobbing Gupta, 21, from India, revealed while virally renouncing her royal status on YouTube. 'These have been the hardest few months of my life.' 5 Rachel Gupta claims the Miss Grand International organization harassed, manipulated and abandoned her after she won the Thai-based beauty pageant in October 2024. YouTube/Rachel Gupta Deeming Miss Grand International as a breeding ground for 'toxicity and negativity,' Gupta aired out her grievances with the Thailand-based beauty pageant to over 1.4 million viewers in a 56-minute tell-all. In response, Miss Grand International has publicly revoked Gupta's crown, alleging she failed to 'fulfill her assigned duties, [engaged] in external projects without prior approval from the organization, and [refused] to participate in the scheduled trip to Guatemala.' 5 Gupta was crowned Miss Grand International 2024, believing she'd receive grand prize money, a penthouse and traveling privileges. NARONG SANGNAK/EPA-EFE / Shutterstock However, Gupta begs to differ. After being crowned queen in October, the Gen Z claims MGI executives, with a figurative 'gun to the head,' forced her to sign a 'one-sided' contract, in which she blindly agreed to comply with all of the organization's requests. But she claims the brand failed to fulfill its promises to provide her with a monthly stipend, penthouse lodging and 'basic amenities.' 5 Gupta claims she became depressed after being left to 'fend' for herself outside of MGI sanctioned events and appearances. Getty Images 'Immediately after winning, they moved me into a cramped hotel room, where all my suitcases couldn't open properly because there wasn't enough space,' Gupta carped on camera. 'Then, they shifted me to a dilapidated house which was way on the outside of the city. I had no car. They didn't give me anyway of getting around.' 'I was stuck in the house until they decided that they needed me for something.' Virtually stranded without sustenance or cooking supplies, Gupta, a vegetarian, was forced to purchase herself a Thai cellphone for ordering takeout. Surviving on nothing but fast-food negatively altered her figure, she said. 5 Gupta says she was subjected to constant body shaming by MGI executives who scrutinized her weight. NARONG SANGNAK/EPA-EFE / Shutterstock 'How am I supposed to stay healthy or take care of myself when I can't eat home cooked food? It was so bad,' the siren groaned, adding that she was also denied access to a gym and workout equipment. 'Most days I'd end up eating whatever junk I had or I would order food. But because it's so far away, the drivers would end up canceling.' She blames MGI for the struggle. 'It's their responsibility. I'm with that organization,' said Gupta, admitting that the ordeal rendered her depressed. 'They should at least make sure that they're giving their queen food to eat.' However, instead of showing concern for her well-being, she says the powers-that-be were only concerned about her changing waistline. 5 Gupta forewarned future MGI contestants that the organization 'does not care about you.' AFP via Getty Images 'They were hounding me, constantly talking about my weight and my body,' Gupta cried. 'They sent a representative to me, and he just comes up to me and starts pinching me in places and he's like, 'Oh, you need to lose weight here. You need to lose weight here.'' 'It's so embarrassing,' she wept. 'It makes you feel so small and so bad.' Gupta then explained that she'd reported a potential robbery to MGI organizers, hoping the honchos would boost security at the so-called slummy house. However, she claims her cries for help fell on deaf ears. 'I realized, in that moment, that these people will never support me,' said the tearful head-turner. 'As long as I'm there to smile at their events, keep my body super skinny the way they like — they don't care if I live or die.' 'I was completely my own.' Throughout her reign as Miss MGI, Gupta says she was barred from participating in advocacy and charity work, but bullied into selling 'cheap and tacky' products on TikTok for the pageant's financial gains. 'They are cold-hearted business people. They just want to extract your use, make money off of you and that it is,' Gupta asserted. 'The other thing they care about is how you look,' she continued, accusing company higher-ups of spewing, 'body-shaming, disgusting, deplorable comments,' about their competitors. 'It made me feel sick,' said Gupta. 'I was ready to throw up.' In MGI's official statement, shared to Instagram on May 28, the organization directly responded to each of their ex-star's allegations. It also asked that its crown be returned to headquarters 'within 30 days.' Gupta is among a growing number of beauty pageant titleholders who've recently sashayed away from the winner's sash. Both Miss USA and Miss Teen USA 2024 stepped down from their respective positions due to alleged 'bullying' by the organization's CEO. The Miss Teen USA runner up, too, turned down the honor amid the chaos. Gupta hopes other pageant queen wannabes think twice before signing up for a potential setup. 'Even if you win, you'll be completely on your own,' she warned. 'You will not get any love or special of treatment or support from this organization.' 'The Miss Grand International organization [does not] care about you.'
