After selling its stake in KG gas block to ONGC for USD 1.2 billion, Gujarat State Petroleum Corp (GSPC) is mulling a big financial restructuring including trimming stake in some business like LNG and portfolio readjustment, its Managing Director J N Singh said. The Gujarat government firm, which is saddled with nearly…
Samart president Watchai Vilailuck Samart Corporation is embarking on a bold business and organisational restructuring to brace for digital disruption this year. The development is aimed at reducing operating costs, increasing profit margins and creating new recurring revenue, said president Watchai Vilailuck. “We project consolidated revenue of 20 billion baht in 2017, a strong recovery…
After months of financial uncertainty, Avaya has filed for Chapter 11 bankruptcy protection to restructure its debt and business. For customers, the Avaya bankruptcy filing brings a greater sense of certainty, according to industry analysts. Avaya customers don’t need to start looking for alternative services right away, said Irwin Lazar, an analyst at Nemertes Research…
The ramp-up of production at the GLNG venture in Queensland has helped Santos’ sales. LNG Santos has posted record full-year production and beaten guidance on costs as new chief executive Kevin Gallagher continues to turn around the oil and gas producer after the crash in oil prices. Output in calendar 2016 reached 61.6 million barrels of…
Well known Apple product purveyor Simply Mac is shuttering brick-and-mortar stores across the U.S., with conflicting reports claiming the move is either the result of corporate restructuring or a decision by Apple to end its nationwide sales agreement with the firm. According to a statement from West Acres Mall in Fargo, N.D., Simply Mac…
Share Tweet Share Share Share Email BCBG announced plans to close stores and restructure the company due to mounting pressure from its debt burden and more consumers opting to shop online. The retail chain plans to shut down a number of brick-and-mortar shops and refocus on licensing, eCommerce and selling through other retailers, Seth Lubove,…
IR prompted strategic review that led German utility RWE to split in two Over the years, IR has grown from a financial communications channel to a key adviser to management teams and boards. Nowhere is that more apparent than the recent corporate restructuring at German utility RWE, where IR first prompted a strategic review and…
By Naomi Tajitsu | TOKYO Bidders for Japan’s Takata Corp (7312.T) are pushing for a court-mediated turnaround for the embattled air bag maker’s domestic business, a source said, a strategy the company opposes and news of which sent its shares tumbling 17 percent. Takata is in the process of selecting a financial backer as it…
[TOKYO] Takata shares plunged 17 per cent Thursday on a report that two rival suitors are set to propose bankruptcy restructuring plans for the airbag maker at the centre of the biggest-ever auto safety recall. The stock fell by its maximum daily loss limit to close at 717 yen after trading had been suspended in…
ASIAN LEGAL BUSINESS: What are some of the notable trends you have witnessed in Koreas legal industry in the past 12 months in terms of the quantity and quality of work? What have you been doing more of, and what have you seen a drop in? KYE SUNG CHUNG, senior partner, Kim & Chang: In…